Hi my husband is ready and I am not sure

[nomadj]

my name is Janet have been self employed for many years My spouse and I have a business together. we also have rental properties that we self manage my husband is ready to close our primary business or sell it if we can find a buyer I do not feel we will find a buyer in this economy and I am afraid he will live to regret his decision to just close up shopwe are financially secure we don't have a problem with having enough mony to retire I am concerned about regrets of leaving the business and about boredom since we have had a very busy life for the last 30 years any advice for how to make this decision would be much appreciated.
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[haloFIRE]

Thoughts

Hi Janet, and Welcome!

If I'm reading straight, I believe you say you have enough money to retire. If you aren't 100% sure or confortable, I recommend you run your numbers through FireCalc.

So assuming you do have enough to retire, your question is really about how you will spend your retirement time. Only you can answer that. At some point, you will have to retire, either physically, economically, or emotionally you'll have had enough. So I suggest you start thinking about what you would like to do with your newly found free time. Hobbies, family, maybe part time work in a new field that excites and challenges you....many options awaiting you.

I recommend you start trying to determine which options fit you and your DH the best. I'm in the middle of a good book that might help you: "How to are tire Happy, Wild and Free" by Ernie Zelinski.

Happy planning!

 

[Ed_The_Gypsy]

I hear a cry for help.

A second + to haloFIRE's recommendation for investigating using FIREcalc.

Remember that a company is only a machine to make money. There will be a time to quit or shut it down and cash in your chips. There will seldom be a 'best' time financially.

Once you terminate your present situation and regroup, you can always start something new and different. Or the same, but your chips off the table.

You do not have to stop working. It may be time to plan for a realistic future, though.

Please poke around our old posts and see what you find of value and ignore the rest of it.

All the best,

old Ed

 

[travelover]

I wonder if your husband feels trapped. I've known other couples where he says, "I'm retiring", and she says, "no you aren't ". It ain't pretty.

 

[nomadj]

Well it has been a long time since I have been on this forum. We retired 9/1/2013, it was a mixed decision. We have been busier than ever tyeing up loose ends with our business we sold the name/client list/phone number then started parting out the assets. We are almost done and are ready to take our first long trip. We have done a bit of traveling for business and for pleasure but have had to rush, this time we are taking a road trip and taking our time. Hopefully we will still enjoy retirement in a month. LOL

 

[daylatedollarshort]

Thanks for the update and enjoy your trip!

 

[seraphim]

+1

Time to enjoy life

 

[kimcdougc]

Enjoy your new found freedom and have a blast on your journey. My husband will be retiring in June and we will be headed for a long adventure somewhere...he just doesn't know it yet!