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10-18-2007, 07:19 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Work until you die
An article in today's Globe and Mail says that in a recent survey, 18% of men and 12% of women entrepreneurs who RE plan to start their own businessses and work indefinitely.
reportonbusiness.com: Work until you die
There's an interesting reader discussion in which some people sound just like Forum members and others see no future except drudgery.
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10-18-2007, 07:29 PM
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#2
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,468
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I have heard that running one's own business is more fun than working for someone else. The only time I tried it, I earned a lot but hated it.
No danger that I will willingly work after ER. Not going to happen. Now, I might volunteer if I felt like I could make a difference in the world, or in a life.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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10-18-2007, 07:37 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Feb 2004
Posts: 2,670
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Quote:
Originally Posted by Want2retire
I have heard that running one's own business is more fun than working for someone else.
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It is. (but it's still work)
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
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10-18-2007, 07:48 PM
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#4
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Full time employment: Posting here.
Join Date: Aug 2006
Location: Columbus
Posts: 769
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I know several business owners that are in their 70's. They all say they'll give it up when it ceases being fun. There are a lot of older people in the business community that just have to stay in contact with the business world.
I remember the old guy that my dad worked for back in the 50's, probably a millionaire at the time. When he finally sold the company he rented an office downtown with a secretary and came in every day. From what my dad said he had several philanthropic projects he liked to play with. He just enjoyed the office environment and must have liked being the boss, which maybe he wasn't at home.
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10-18-2007, 08:29 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,768
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My grandfather sold his farm and retired at 80. Within two years he had bought another and was back to work. I guess when you spend 60+ years doing something you like you don't want to quit. My great-uncle retired from his law practive at 96. Dead in 6 months. I guess when you spend 70+ years doing something you like you don't want to quit. Both had more money than the could ever spend, so that wasn't the issue.
Me, I retired from Mega-Corp at 58. Maybe being your own boss makes work better? I like ER enough that I'm not going to find out. To each his own.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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10-18-2007, 09:49 PM
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#6
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Recycles dryer sheets
Join Date: Sep 2006
Posts: 177
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Quote:
Originally Posted by Want2retire
I have heard that running one's own business is more fun than working for someone else. The only time I tried it, I earned a lot but hated it.
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I think there is a fine line between "be your own boss" and "be your own slave". If you're not loving what you're doing the additional concerns of running your own concern can make it much more the latter.
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10-18-2007, 09:59 PM
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#7
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Recycles dryer sheets
Join Date: Jun 2007
Posts: 316
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Retirement to me is going about your life on your own terms. IMHO, if you don't need the $$ then running a small business definitely isn't work. I really can't imagine my retirement without running a part time one man business of some kind.
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10-18-2007, 10:49 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,768
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Quote:
Originally Posted by Grizz
Retirement to me is going about your life on your own terms. IMHO, if you don't need the $$ then running a small business definitely isn't work. I really can't imagine my retirement without running a part time one man business of some kind.
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I can and do. But, I also accept/understand/support your desire to do so. ER is not about not working (if working is definded as a money making activity), it's about doing whatever you want to do.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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10-19-2007, 06:52 AM
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#9
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,468
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Quote:
Originally Posted by sparkythewonderdog
I think there is a fine line between "be your own boss" and "be your own slave". If you're not loving what you're doing the additional concerns of running your own concern can make it much more the latter.
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I agree! The "fun part" for me was designing the product, which I had already done before starting to build them on my kitchen table. Building them was boring but bearable. On the other hand, the business aspects and legalities just were not my cup of tea, to put it mildly.
I made enough with the first order to buy a brand new 1987 Daytona with a sunroof with a little cash left over, and then stopped taking orders for my product even though the demand was still there. There is a lot more to the reality of starting up a small business than I had realized, so it was a good learning experience. Even though they can be surprisingly profitable, I'll leave small businesses to those more suited to this type of endeavor!
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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10-19-2007, 07:14 AM
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#10
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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I started selling on Ebay and Amazon after I retired . It's a hobby and a lot of fun .I do it when the mood hits me and then I stop for awhile . Not a big money maker but it keeps me amused .
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10-19-2007, 10:17 AM
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#11
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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Quote:
Originally Posted by UncleHoney
... There are a lot of older people in the business community that just have to stay in contact with the business world.
I remember the old guy that my dad worked for back in the 50's, probably a millionaire at the time. When he finally sold the company he rented an office downtown with a secretary and came in every day. From what my dad said he had several philanthropic projects he liked to play with. He just enjoyed the office environment and must have liked being the boss, which maybe he wasn't at home.
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I knew a guy like that, after retiring three times, he kept an office so as not to disturb his wife's routine at home.
I imagine I could "stay in contact with the business world" just by going to the library and seeing all the people (like me now) who rush in and out on break or lunch hour.
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10-19-2007, 07:43 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 1,305
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[quote=kumquat;568163]My grandfather sold his farm and retired at 80. Within two years he had bought another and was back to work. I guess when you spend 60+ years doing something you like you don't want to quit. My great-uncle retired from his law practive at 96. Dead in 6 months. I guess when you spend 70+ years doing something you like you don't want to quit. Both had more money than the could ever spend, so that wasn't the issue.
quote]
Am I glad I quit before I got THAT used to it (30 years ).
I'm like you... I ain't going back ... and you can't make me!
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Life is GREAT!
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