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OpusX · 10-06-2006, 07:41 AM

I am 54 and have been fired for 16 years. Always planned on retiring around 40 but sold a business and wife had an inheritance at 38 so I was done, although I did some property developing and sold real estate for 10 years, not really a job with hours, wife is still working at the school but has her time in after this year. She may or may not retire after this year. We have a net worth of 2 mil plus and we run a Bed & Breakfast during the summer months at our house. Many decisions coming up if wife retires. We have been thinking about downsizing, house is 6 bedroom with 7 baths. Property Taxes are killing us, about $600 a month, would like to get out of NE Ohio Nov. through April but don't like the idea of 2 properties! And of course the health insurance problem, currently have great ins through the school but will have to pay that on our own with retirement of wife. Like I said lots of decisions. Anyway Hi all!

Nords · 10-06-2006, 09:08 AM

Welcome to the board, Opus!

You'll find plenty of threads on health insurance & downsizing. Seven toilets is too many for anyone.

Donzo · 10-06-2006, 09:16 AM

Opus,

Sounds like you have the FI part down - but I don't know about the ER part. You sound like a pretty employed guy!

Welcome - there is alot of great info here

Martha · 10-06-2006, 11:22 AM

Two of our neighbors are B & Bs. It seems like a lot of work. The prior owner of the next door B & B hired a housekeeper/cook to help but the current owners are going it alone. You really have to be outgoing and friendly to make it. Both of our neighbors operate year round.

I can see the temptation to downsize and get out of the business.

yakers · 10-06-2006, 11:31 AM

Sounds like you have adequate resources and you have real options. Besides looking at what you want to get out of (running a B&B) look for what you would like to do. Travel, volunteer, creative activities? These could organize your transition from what you have.

Rich_by_the_Bay · 10-06-2006, 11:48 AM

Owning and running a B&B was a very big thing in the 60s and 70s. The stereotype in my mind was preferably in Vermont (NH OK, too). Only interesting and hygienically acceptable guests would come calling and pay a tidy sum per night. Breakfast would last for hours as you traded tales of your interesting lives, with at least 3 different varieties of French toast available. Granola and omelettes would break the mold now and then. The fireplace was always burning and it was always fall, temperatures in the 40s and 50s mostly, sunny skies interrupted by the occasional beautiful but short-lived snow shower until just before Christmas. At that time a 4 " cover of snow would descend just in time for the hay rides.

I gather that isn't exactly your experience?

.

Welcome aboard. This will be a great place to share experience and ideas. You sound like you have done well over the years.

HFWR · 10-06-2006, 11:53 AM

I was thinking more along the lines of busloads of horny lesbians, who just happen to find old, skinny farts sexy...

My Dream · 10-06-2006, 12:06 PM

Quote:

Originally Posted by Rich_in_Tampa

Owning and running a B&B was a very big thing in the 60s and 70s. The stereotype in my mind was preferably in Vermont (NH OK, too). Only interesting and hygienically acceptable guests would come calling and pay a tidy sum per night. Breakfast would last for hours as you traded tales of your interesting lives, with at least 3 different varieties of French toast available. Granola and omelettes would break the mold now and then. The fireplace was always burning and it was always fall, temperatures in the 40s and 50s mostly, sunny skies interrupted by the occasional beautiful but short-lived snow shower until just before Christmas. At that time a 4 " cover of snow would descend just in time for the hay rides.

Can I hazard a guess that you dream in color?

brewer12345 · 10-06-2006, 12:08 PM

So does HFWR...

OpusX · 10-06-2006, 01:42 PM

LOL Actually running the B & B is fun and profitable. We live on Lake Erie so we are home when we are busy and that is July, Aug. & Sept., we do weekends in Oct. and that's it till mid June so we do not suffer from Burn out. Been doing it for 16 years now. And who said anything about skinny old fart. Skinny I'm not.

Martha · 10-06-2006, 02:46 PM

The skinny old fart is HFWR.

I assume you are on the US side of Lake Erie.

If you are interested in finding out information on your insurance rights and options in your state, I often suggest the Georgetown university guide at www.healthinsuranceinfo.net.