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Old 12-23-2007, 06:41 PM   #41
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If I had done it differently, (20-20 hindsight), when I were younger, I think I would have gone into business for myself...........

...........Any of you have these feelings or regrets? Does this make sense? How do you cope?
Regrets? I've had a few. Then again, too few to mention........ .......I've done it myyyyy wayyyyy! (cue Frank Sinatra)
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Old 12-23-2007, 06:54 PM   #42
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I am nearing 50 years old, married, no kids, and have had everything paid off for the past several years...everything looks pretty rosy. I work for the Feds, so I am shackled by "The Golden Handcuffs" benefits package.

Probably much like most of you. And every day I plan, doing my time, knowing I will be able to gain my freedom in the near future to follow my dreams. However I have regrets. (Possibly suffering a man's version of "change of life"?). If I had done it differently, (20-20 hindsight), when I were younger, I think I would have gone into business for myself.

Most of us on these forums work(ed) for someone else. Big businesses/institutions, the military, federal govt, etc. Maybe because it is "safe", had benefits, and paid OK. Not as many folks that have their own businesses seem to retire early and be on these forums. Maybe the passion of self employment makes life more enjoyable...

Any of you have these feelings or regrets? Does this make sense? How do you cope?

It's natural to look back on one's life and wonder "what if". But when you're feeling blue, count your blessings.

I sometimes think of junctions in my life, and wonder how things might have turned out if I made different choices. Then I look at my richly blessed life the way it is, and I think "could it really have turned out any better than this? This is about as good as I could ever have imagined."

As an example, I think back to when I had two jobs offered me just a day apart. The one I chose paid maybe 10% less, but I liked the location of this one best. So, not only did I get to live where I preferred, I ended up meeting my wife on the job, and I ended up with a retirement pension far better than anything I imagined or have seen available elsewhere since.
Plus I have three smart, achieving kids.

If I had made a different choice at that juncture, none of thate would have happened! Sometimes I thank God I made the right choice at that point!

So, I advise, just start counting your blessings, and the temporary regrets just start falling away into oblivion.

Plus, as to your present life, when you see how many blessings you have, you could always say "I did it myyyy wayyyy"
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Thanks Walt
Old 12-24-2007, 10:48 AM   #43
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Thanks Walt

Thanks for your service Walt

Quietly - ditto - retired from the job.

FBINA160
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Old 12-24-2007, 01:04 PM   #44
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Yes - its tough to ER out of small business where you are an owner/partner. You can't quit until you find someone to buy you out.
We're having xmas eve dinner with close friends tonight who are in the HVAC business. They seem to make a nice living from the business, at least by our observation of their long term lifestyle. Yet, they speak of longing for retirement and being unable to sell the business for a reasonable mulitple of it's annual profitability. They've had two false starts at selling, both times to employees trying to buy it on leverage, but who backed out when they realized that the owners were responsible for things 24 x 7 and that paying the loans would eat up most of the profits.......
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Old 12-24-2007, 02:34 PM   #45
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Dave, long time no talk to! I hear ya' man! Being a long-time fed like you, I've had some of those same feelings. Woulda, coulda, shoulda.......here's my big plan : I'm gonna tough it out for my last 5 yrs, retire & start collecting my Uncle Sugar checks, and then maybe start my part-time fishing guide service! There's a good demand for that here in my area of Sportsman's Paradise, and $250 a day for an 8 hour day of bass fishing is right up my alley. We have several casinos and they are always calling my buds looking for guided fishing trips for guests. Recently, 3 of my friends took several boatloads of Japanese anglers out on the river for a days fishing, and none of them spoke any english! I bet that was funny! I don't think they really cared about the fishing, it was more for the experience. I won't take on more business than I care to, and it'll pay for my own expenses like boat, fuel, insurance , equipment etc. I have friends who are in the business locally, and know for sure I can make it work. If I keep it to just a few days a month, it'll still be fun and not a JOB. I've been self-employed a time or two in the past, nothing big but still self-employed. I played realtor for a few years and still maintain my license. If I get really bored (don't plan to) I can always dust of the old business cards and hang out my shingle. re what Nords said about the reserves career, I'm REALLY glad I stuck with that deal too! When I start collecting that paycheck, it'll be $18k worth of icing on my retirement cake. I can buy a whole lotta lures with that moolah!
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Old 12-24-2007, 02:44 PM   #46
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We're having xmas eve dinner with close friends tonight who are in the HVAC business. They seem to make a nice living from the business, at least by our observation of their long term lifestyle. Yet, they speak of longing for retirement and being unable to sell the business for a reasonable mulitple of it's annual profitability. They've had two false starts at selling, both times to employees trying to buy it on leverage, but who backed out when they realized that the owners were responsible for things 24 x 7 and that paying the loans would eat up most of the profits.......
I am in exactly the same boat as your friends only I've been through the merger/acquisition thing 3 times in the last 7 yrs. As a business owner, the money and perks are quite good as compared to most hourly workers but it is 24/7/365 on call and I can't quit my job even if I'm sick of it. My RE plans would be decimated.

I'm fortunate in that I'm only 38yrs old, but when I'm 50 and want out, I need to find someone willing to buy or send it all to auction and take a financial beating. Your friends and I have no pension plan. My pension is in my equipment and my building. You need to find someone who wants your business and who does not require you at the helm, identify and eliminate tire kickers (1 of the 3) and go through the selling process which is certainly not as simple as showing your books and cutting a cheque. It is also impossible to do "business as usual" during your sale since doing things like buying promotional items, stationary, or doing expensive maintenance to a piece of equipment that you'll receive no benefit for is likely to be a waste of money since you'll get nothing for it.
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Old 12-27-2007, 08:21 AM   #47
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Hi

Pardon me, I am new here.

Just want to get to know the technical jargon in this forum.

What does "Life after FIRE" means?

Getting fired by someone?

Thank you.
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Old 12-27-2007, 08:37 AM   #48
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Just want to get to know the technical jargon in this forum.

What does "Life after FIRE" means?
You'll find the answer to your questions here: http://www.early-retirement.org/forums/f32/acronyms-slang-frequently-used-forum-19058.html
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Old 12-28-2007, 08:56 AM   #49
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Thanks for your opinions and insights. I think the bottom line in the whole scheme of things boils down to: "do you enjoy what you are doing and get paid with enough money and benefits to be happy with that". After thinking about it, (especially after reading your posts several times over)...I guess I would have to answer "yes". It's doing "the time thing", that bothers me, though.

Being retired (especially early) and financially secure is what everybody is striving for. The golden egg. Unless you have that dream job or business where it does not matter. And I suspect there are a lot of them out there. They are too busy doing their thing to ponder slowing down to retire...and do what?

About the time thing and getting older. Just thinking...I suppose when a person is say..55, think of all the things that can be done. Most enjoyment involves some physical activity, (for me). I believe that when 60 rolls around, you start slowing down. 65 even more. Almost exponentially. Even more health issues arise. And the spouse may be in worse condition. A person only has (maybe?) 20 good years to really have a fully enjoyable life before old man time puts a damper on things and the lights start to dim. That's sort of where I am coming from. It's a race...and I hate wasting time...

Being FIREd is only number two. Number one is being born into money and being already "there" your whole life. But then, being a number one, a person may not appreciate what the freedom is all about because they have always had it.

Sorry for the meanderings...
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