How Early is "Early?"

[BUM]

Now there's a theory - we set up two teams of FIREs one team manages Ben's profolio, one manages mine, we see who does better. I'm 9 years older but then women live longer statistically so it should about even out.

I'll take Sheryl!

Lets see...Shovel a bunch to anybody-but-Vanguard. Pick loaded funds with monthly or quarterly dividends. Spice it up with some hi-yield. Channel divvys to a good m/m fund. Set up monthly EFT to Sheryl's personal checking.

What am I forgetting? Oh yeah! My CFP fees! Lets see theres the pushbutton "how much will you need to live on" presentation. The "dazzle-em-with-numbers" (ripped-off from FireCalc) 3 ring binder. The humiliting LBYM lecture. Should be good for a few grand, 'till she gets pissed and sells out. Then I'll get a few more grand on the back end commissions. Then I'll close out whats-her-names account.


I know you wont let the above lemming walk happen to you.

BUM

 

[Sheryl]

I'll take Sheryl!

Lets see...Shovel a bunch to anybody-but-Vanguard....

What am I forgetting? Oh yeah! My CFP fees!

I know you wont let the above lemming walk happen to you.

BUM  

That sounds absolutely awesome, BUM - re your fees: "The check is in the mail."

 

[cute fuzzy bunny]

....no you wouldn't... you couldn't!....

I might...but not right now.

Saw it on a big bumper sticker on the back of a car in front of us the other day. Got 3/4 of the way through reading it when a voice from the passenger seat warned "If you so much as smirk you're a goner"...

 

[Spanky]

I actually wouldn't mind some work, rather than total retirement. Freelancing one or two projects a year to supplement income (I'm an architect) would actually be fun, compared to owning and operating a 15 person multi-million dollar firm.

Sheryl,

I thought owning a multi-million business is a dream for a lot of people.

Anyway, if you are tired of it, you can always let someone one else manage it or simply sell it.

Spanky

 

[Sheryl]

I thought owning a multi-million business is a dream for a lot of people.

Anyway, if you are tired of it, you can always let someone one else manage it or simply sell it.

It is. It was. Now I've done it. In this type of business what people are buying is my (and my partners) expertise. Whenever we delegate much to the younger employees the clients whine, "But we hired YOOOOUUUU, wah." I'm preparing my partners for the fact that there's no way I"m hanging around here until I'm 65, so they will need to start thinking about who will buy my shares (and do my work). It's been fun and profitable, now it's time for a change.

 

[Mr._johngalt]

I know many small business owners who tried to
"hire" people to run their companies so they could "go play". It seldom worked. The most notable success
was the prior owner of the last company I bought.
But, he didn't need to hire anyone, he just found a guy to stay on after he bought the company. The "holdover"
was very unmotivated, but they made a pile of money anyway. Most of the situations of which I am aware
where the "founders" hired outside management and then left
were disasters.

JG

 

[Sheryl]

 Most of the situations of which I am aware where the "founders" hired outside management and then left were disasters.

JG

That's been my experience and opinion too. Our company is too small to pay others to manage and still generate enough income for me. I'm better building the firm valuation - which is based on previous years gross - then selling my shares.

 

[tryan]

Good thread ...

It'll be 43 for me. But this comes with rentals to manage ... OK by me (I can't sit still).