Hi All,
I'm keen to call it a day and walk away, but know that it aint the most sensible of options. Mentally, I'm there; financially, I think I have some way to go....
I have a part share in a business, that although I'm sure could and would continue happily without me, my partners (and staff) see a need for me to continue to hang around. I've been introducing myself to the idea of ER by taking longer and more frequent vacations, and I can picture my life without ever having to come in to the office again. Plan to be away for the whole of the summer, which will be the longest stint so far, but I'm getting off the point.
Selling the business in the current economic environment would be unwise, and like most small business owners, the majority of my wealth is tied into the business. However, based on history, at some point in the next few years someone will make an offer for the business. In the past we have had many unsolicitated offer and I'm assuming this will happen again in the future.
I have about $1.5m in cash (yes cash, not invested at present), no pension provision and we have three houses that are all paid for, our main house, vacation house and one that an elderly relative is living in. So if needed could sell either of the first two and live in the other, but the third one is tied up.
So (eventually) the question is, do I:
(1) Call it a day and walk away;
(2) Continue to increase vacation until I can slide away unnoticed;
(3) Just keep working till the business is sold; or
(4) Any other suggestions.
I'm 38, married, have two kids under 5.
All suggestions welcome.
I'm keen to call it a day and walk away, but know that it aint the most sensible of options. Mentally, I'm there; financially, I think I have some way to go....
I have a part share in a business, that although I'm sure could and would continue happily without me, my partners (and staff) see a need for me to continue to hang around. I've been introducing myself to the idea of ER by taking longer and more frequent vacations, and I can picture my life without ever having to come in to the office again. Plan to be away for the whole of the summer, which will be the longest stint so far, but I'm getting off the point.
Selling the business in the current economic environment would be unwise, and like most small business owners, the majority of my wealth is tied into the business. However, based on history, at some point in the next few years someone will make an offer for the business. In the past we have had many unsolicitated offer and I'm assuming this will happen again in the future.
I have about $1.5m in cash (yes cash, not invested at present), no pension provision and we have three houses that are all paid for, our main house, vacation house and one that an elderly relative is living in. So if needed could sell either of the first two and live in the other, but the third one is tied up.
So (eventually) the question is, do I:
(1) Call it a day and walk away;
(2) Continue to increase vacation until I can slide away unnoticed;
(3) Just keep working till the business is sold; or
(4) Any other suggestions.
I'm 38, married, have two kids under 5.
All suggestions welcome.