v5200
Dryer sheet wannabe
- Joined
- Sep 11, 2008
- Messages
- 21
Hi All-
What a great forum! I've given so much thought to my "next phase", it was a delight to find a group of like-minded folks. Here's the quick low-down:
·I've just turned 44, and I’m the owner of a small but very profitable internet marketing company. It's grown way beyond my original expectations, and I'm working with an investment bank to try and sell the business in 2009.
·In addition to the business, I currently have about $1.9 million in retirement accounts and mutual funds, and I'm adding to that amount by about $50k per month.
·I own a house worth roughly $375k (and falling!) with a 190k mortgage
·I'm divorced, and I have a 16 year old son who will be graduating in 2011 (he lives with his mom most of the time, but we're all in the same town).
·I expect that when/if I sell the business, I'll need to stay involved to transition to the new owners for at least a year... plus I want to stay local until my son enters college.
·My target “walk away” date from the business is 2010 (I’ll be 45), but I’ll be staying local (mostly until 2011, I’ll be 46)
·In 2011, my son will hopefully go to college, and I’ll fully kick in “the next phase”
So financially, I expect I should be OK with a sale of the business, but what I’m really wrestling with is what to do, how to spend my time, where to live, etc, etc, etc. I’m not really wed to the area I’m living now, and I’m completely intrigued with the concept of “perpetual travel”, and hope to learn more about this concept. I’m also wondering about how folks in similar situations have decided where to live, and how to balance all of their new-found time. Does anyone recommend buying multiple residences? Or are you better off renting for extended periods?
I’m also really interested to hear stories about people who decide to live abroad either permanently, or for extended stays. I wonder how expensive this is, and how people manage the realities of life and this sort of “exotic” lifestyle. Have any of you thought about this sort of wandering existence? Have any of you tried it? Is multiple residences in various parts of the country/world more realistic and manageable?
Oh, soooo many questions! For now, I’m just happy to find people thinking about similar things I am!
What a great forum! I've given so much thought to my "next phase", it was a delight to find a group of like-minded folks. Here's the quick low-down:
·I've just turned 44, and I’m the owner of a small but very profitable internet marketing company. It's grown way beyond my original expectations, and I'm working with an investment bank to try and sell the business in 2009.
·In addition to the business, I currently have about $1.9 million in retirement accounts and mutual funds, and I'm adding to that amount by about $50k per month.
·I own a house worth roughly $375k (and falling!) with a 190k mortgage
·I'm divorced, and I have a 16 year old son who will be graduating in 2011 (he lives with his mom most of the time, but we're all in the same town).
·I expect that when/if I sell the business, I'll need to stay involved to transition to the new owners for at least a year... plus I want to stay local until my son enters college.
·My target “walk away” date from the business is 2010 (I’ll be 45), but I’ll be staying local (mostly until 2011, I’ll be 46)
·In 2011, my son will hopefully go to college, and I’ll fully kick in “the next phase”
So financially, I expect I should be OK with a sale of the business, but what I’m really wrestling with is what to do, how to spend my time, where to live, etc, etc, etc. I’m not really wed to the area I’m living now, and I’m completely intrigued with the concept of “perpetual travel”, and hope to learn more about this concept. I’m also wondering about how folks in similar situations have decided where to live, and how to balance all of their new-found time. Does anyone recommend buying multiple residences? Or are you better off renting for extended periods?
I’m also really interested to hear stories about people who decide to live abroad either permanently, or for extended stays. I wonder how expensive this is, and how people manage the realities of life and this sort of “exotic” lifestyle. Have any of you thought about this sort of wandering existence? Have any of you tried it? Is multiple residences in various parts of the country/world more realistic and manageable?
Oh, soooo many questions! For now, I’m just happy to find people thinking about similar things I am!