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Retiring in Sept. offered a job already
Old 05-04-2006, 09:38 AM   #1
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Retiring in Sept. offered a job already

HI,

Talk me out of it.

I am selling (for peanuts) my small Manufacturer's Rep company to a faithful employee. I hope to get maybe $20k per year for the next 5 years.

Relocating down south and my Biggest Principal has offered me the territory where I am moving to. I could work as a subsidiary of my old company and I could probably get away with working 3 days a week. 2 days at home making some phone calls, 1 day a week visit a new city, make some visiits, bring DW sometimes, do some golfing.

Looks like territory brings in $60K per year on its own. I am considered one of their Best Sales Reps. Could probably get it to $100k in a year or two.

Seriously considering it. I'm 41 and healthcare costs still scare me. Could live comfortably on a SWR of 4.5% from portfolio right now.

Could take several months off prior to starting up and I could change my mind.

Tempting.....

Thanks,

Wally
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Re: Retiring in Sept. offered a job already
Old 05-04-2006, 09:40 AM   #2
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Re: Retiring in Sept. offered a job already

Try listing the pros and cons of either choice. Are you totally burnt out, or would a transition to PT work for you? If you take this territory, how easy would it be to walk away if you change your mind?
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Re: Retiring in Sept. offered a job already
Old 05-04-2006, 09:56 AM   #3
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Re: Retiring in Sept. offered a job already

Quote:
Originally Posted by brewer12345
Try listing the pros and cons of either choice.* Are you totally burnt out, or would a transition to PT work for you?* If you take this territory, how easy would it be to walk away if you change your mind?
Hi,

Thanks. I'm surprised I didn't think of the old pros and cons list.

Yes, I'm burnt out but that's because I'm dealling with stupid peopleand still trying to do a good job.

Working part time I still could do a better job than the exisitng Rep but I'd need to have a more who gives a SH*T attitude.

Yes, I could walk away anytime.

Thanks Again,

Wally
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Re: Retiring in Sept. offered a job already
Old 05-04-2006, 09:57 AM   #4
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Re: Retiring in Sept. offered a job already

I find the relocation aspect the most interesting. I expect to retire in about 18 months. If we move to a new area I would consider getting a job for a year or so and maybe my wife teaching for a year just to make friends and become "locals". Of course the type of work & pay would have to make it worth the effort.
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Re: Retiring in Sept. offered a job already
Old 05-04-2006, 10:14 AM   #5
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Re: Retiring in Sept. offered a job already

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Yes, I'm burnt out but that's because I'm dealling with stupid peopleand still trying to do a good job.
They are everywhere - moving to a different location will not help. Changing the attitude toward them or changing opinion (i.e., there are no stupid people) about them may help. Good luck.
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Re: Retiring in Sept. offered a job already
Old 05-04-2006, 11:02 AM   #6
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Re: Retiring in Sept. offered a job already

Be careful about those part-time & temporary jobs. When we relocated from the Bay Area to the South, my husband became an adjunct professor while I worked part time, long distance for my Silicon Valley company. I retired after 3 years of part-timing, but he's now a full-fledged Staff Instructor with benefits who loves his work and colleagues--I can't get him to retire! His final grades are due tomorrow, then he's off till mid-August while his paychecks--and health insurance--keep on keepin' on. So be careful out there!
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Re: Retiring in Sept. offered a job already
Old 05-04-2006, 12:02 PM   #7
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Re: Retiring in Sept. offered a job already

wallygator69, take the job, after 6 months if you don't liek it, quit.

Hell, we sales people know that's the best job in the world, out, meeting people, payed to be ER'd.
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Re: Retiring in Sept. offered a job already
Old 05-04-2006, 12:21 PM   #8
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Re: Retiring in Sept. offered a job already

i am NOT so sure what is this mean..."Could live comfortably on a SWR of 4.5% from portfolio right now". is it 150k or 100k or 50k/yr or barely get by without working.

if swr is enuff, why bother? if it's not enuff then stay where u are and work part time. changing your attitude is much more important than changing location.

i thought about it for me too but 4.5% swr for us means marcoroni and cheese everyday. so for that reason we are not ready. health insurance sucks too.

let me know what u decide we like to hear about it. Major issue for us is that we got 2 young children 6 and 7 yrsold.

enuff


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Re: Retiring in Sept. offered a job already
Old 05-04-2006, 01:38 PM   #9
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Re: Retiring in Sept. offered a job already

Quote:
Originally Posted by Maximillion
wallygator69, take the job, after 6 months if you don't liek it, quit.
I think you already know what work feels like.

Take a month or six weeks of ER and see how you feel about working again. My guess is that even three days a week is going to harsh your mellow, let alone play havoc with your new "schedule".
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Re: Retiring in Sept. offered a job already
Old 05-04-2006, 02:08 PM   #10
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Re: Retiring in Sept. offered a job already

Quote:
Originally Posted by Nords
I think you already know what work feels like.
Sometimes, we need a reminder. I don't think it's necessary to go back to work to find out, though.

When I was about six months into "retirement," I hadn't committed myself to being retired yet. It was a sabbatical at that point.

So, I went for a couple of interviews. Man, it all came flooding back. The tension between management and the worker bees. The rows of cubes. The egos, politics, and nonsensical products.

I was grateful for those interviews. They cemented my retirement decision.
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Re: Retiring in Sept. offered a job already
Old 05-05-2006, 02:40 PM   #11
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Re: Retiring in Sept. offered a job already

You will find that being an employee (even a commissioned employee) is much less stressful than being the owner. Also, if you don't generate much income, you can do well on your SWR. I've known a number of sales reps over the years that seem to be living the good life.

One thing worth taking the job for is the tax advantage. If you move for a new job, it is a tax deductible expense. There are mileage limits but it would let your fellow citizens pick up part of the tab.
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Re: Retiring in Sept. offered a job already
Old 05-05-2006, 03:10 PM   #12
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Re: Retiring in Sept. offered a job already

Far as I'm concerned, retiring at 41 is too young. You have maybe 45 to 50 years to live and your money has to last that long. Who knows what might happen in the next 50 years - high inflation? bad investments? disasterous medical bills?
.
Working 3 days a week would sound very tempting to me if I was 41.
Just think, every week you would have a 4 day weekend !
.
And: just quit if it doesn't work out to your liking.
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Re: Retiring in Sept. offered a job already
Old 05-05-2006, 03:51 PM   #13
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Re: Retiring in Sept. offered a job already

Quote:
Originally Posted by bennevis
Who knows what might happen in the next 50 years
I agree. 4.5% doesn't sound very safe to me at 41.
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Re: Retiring in Sept. offered a job already
Old 05-05-2006, 08:38 PM   #14
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Re: Retiring in Sept. offered a job already

Quote:
I've known a number of sales reps over the years that seem to be living the good life.
Yep! Many technical people at work would love to be a sale rep for the medical device company. An average rep makes about $250K, while a successful one makes close to $1M.
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Re: Retiring in Sept. offered a job already
Old 05-08-2006, 10:56 AM   #15
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Re: Retiring in Sept. offered a job already

Hi Folks,

Thanks for the feedback. Took a long weekend and don't really access the board from home....

Think I am going to take the "job". I would be able to keep part interest in my company up North and open up a branch down south. Could work as much or as little as I want but figure 2 days of phone/internet work and 1 day on the road meeting customers would be more than existing salesman does.

Having company pay for relocation is a great idea!

Yes, 4.5% SWR for 40 plus years is scary. Yes, healthcare is a concern.

It would be nice to have extra cash to get settled in the new house/Area, blinds, curtains, HOT TUB?

Yes, the option to bail out at anytime is very appealing.

Thanks again,

Wally
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Re: Retiring in Sept. offered a job already
Old 05-08-2006, 12:08 PM   #16
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Re: Retiring in Sept. offered a job already

Wally, Good luck.

Starting withdrawls at 4.5% at 41 is a crap shoot. W*orking a little longer makes sense.

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Re: Retiring in Sept. offered a job already
Old 05-08-2006, 04:14 PM   #17
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Re: Retiring in Sept. offered a job already

i coudl tell in your 1st post you were gonna take it!

good luck
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