Moving at retirement

[Empty Pockets]

Retiring in your home town.

I own a small business in a small town. In the town's eyes, I'm on duty 24/7. I get calls at home all hours, any day of the week. Everywhere I go people think of me as my business.

I can't go out to a quiet dinner with my family unless I go 30 miles away. I can't stop off for a beer because a dozen customers will hang around because they think I "owe them one" because they do business with me.

I'm just wondering, when I do RE in 8 years at age 49 1/2, do you think I'll need to leave this area to be considered a "normal" citizen again ? Has anyone else felt the need to leave the area where they worked when they retired ?

 

[TromboneAl]

No, I think you can just cancel your business line and/or get a new phone number, and when people ask for advice have a cutesy way of telling them you are retired.

What is your business?

 

[W2R]

Retiring in your home town.

I own a small business in a small town. In the town's eyes, I'm on duty 24/7. I get calls at home all hours, any day of the week. Everywhere I go people think of me as my business.

I can't go out to a quiet dinner with my family unless I go 30 miles away. I can't stop off for a beer because a dozen customers will hang around because they think I "owe them one" because they do business with me.

I'm just wondering, when I do RE in 8 years at age 49 1/2, do you think I'll need to leave this area to be considered a "normal" citizen again ? Has anyone else felt the need to leave the area where they worked when they retired ?

I think Trombone Al is right - - you don't have to leave unless you want to. On the other hand, it might be fun to leave! Even if people stop bothering you, you might still feel like they could start it again. I guess that in your situation, some people might want to leave, and some might not.

I feel a need to leave the area where I am working, when I retire. My reasons are very different from yours, though, and have nothing to do with my job. I just need to get away from the large scale issues here New Orleans, and find a happier, easier place to retire.

 

[bbbamI]

When my dad retired, he was in the same situation you are.

He had no desire to move and didn't. When people called or dropped by and tried to get him to help out, he'd say "well, that was my job, but now I'm busy with my hobbies...wanna talk about that"? Then he'd give 'em that grin.

It didn't take long for the word to spread.

 

[Donzo]

Knowing people can be very valuable - esp. in retirement. These business clients can become friends after you hang up your services. Being anonymous may be over rated.

 

[Empty Pockets]

Thanks for the responses so far. Al, I own and operate a PC Insurance Agency. It is a high contact position, I'm the only agent in the office with one support staff. I specialize in farm business, and they have a hard time recognizing regular office hours. "I'll just call him at 10:00 tonight since I'm not doing anything then". It's not uncommon for people to stop at my house when my office is closed to discuss business issues, even on Sundays & Holidays. It may be my fault too since being available has really grown my business.

Trouble is, I'm a very private person in a very personal business.

I don't think it would be wise to make any sudden moves at retirement, but I really wonder how my former clients will view me as being financially independent at 49 1/2. I live a very modest lifestyle and have worked extremely hard on a 30 year plan to reach FIRE, but in a small town people tend to envy anyone with $1 more than they have.

 

[REWahoo]

Empty Pockets, I recommend you stay put. Once you retire, whenever anyone contacts you about business, tell them you no longer sell that line of insurance but have a new business selling whole life policies and annuities. Launch into a life insurance sales spiel and you will be amazed at how the word will spread to avoid bringing up the subject of business with you!

(If the idea of life insurance/annuity sales is too repugnant, tell 'em you sell Amway!)

 

[haha]

I live a very modest lifestyle and have worked extremely hard on a 30 year plan to reach FIRE, but in a small town people tend to envy anyone with $1 more than they have.

Money trumps love; so if you hang tough they will get over being angry that you won't help them and just go on being angry that you are rich. But since they will always feel that the rich are somehow better, their envy and anger will be mixed with worship, so you will do OK.

If it really concerns you tell them you got an inheritance.

Ha

 

[Mountain_Mike]

This is a very individual matter, and I'm sure there are good reasons for either choice. Unless I were running away from something, or wanted to leave family and friends for some reason, I can't personally see moving my "home base." I'd rather keep the home base, and do lots of traveling.

 

[uncledrz]

Empty

I am going into pt in my practice of law (only representing long time clients and on a restricted basis), and still get all sorts of calls/requests from people who want me to do work for them. I have a list of attorneys with whom I have worked and I believe to be competent and simply refer all cases I don't want to take to one of these attorneys. Maybe you could do the same. Another idea is to sell you business so that you could refer your clients to the new owner.
As for moving, that's a personal decision, but if you like where you are, and like the people, you'll be able to transition into something else without the constant calls, etc. I'm with m-mike on this one, home base with lots of travel.
Tio z