Work until you die

[Meadbh]

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.

[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.

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.

[retire@40]

Originally Posted by Want2retire

I have heard that running one's own business is more fun than working for someone else.

It is. (but it's still work)

[UncleHoney]

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.

[kumquat]

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.

[sparkythewonderdog]

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.

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.

[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.

[kumquat]

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.

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.

[Want2retire]

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.

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!

[Moemg]

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 .

[CuppaJoe]

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.

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.

[megacorp-firee]

[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!