T
TromboneAl
Guest
Please help me brainstorm my exit strategy.
I'm semi-retired, all of my income is from my software product, which brings in a net of about $60K per year. I'm not doing any new development or marketing, and the sales are handled by a third-party company. So currently, my job consists of answering an average of three tech support calls per day and a few tech support emails. FIRECalc gives me a 95% success rate with $50,000 annual withdrawals if my income were to stop now.
The only reasons to completely retire are:
1. I currently need to be home to answer the phone during the week.
2. Although 999 out of 1000 customers are really nice and a true pleasure to deal with, there are a few unpleasant ones that can spoil my day.
3. I always have a slight worry about a possible frivolous lawsuit.
Options
A. Keep going as I am now.
B. Sell the product to another company.
C. Continue selling the product, but without telephone tech support.
D. Continue selling the product, but with no tech support at all. That is, with a big disclaimer at time of sale that says "WARNING: No tech support." I'd have an online forum, and I'd probably monitor it and help with unanswered questions periodically.
E. Just stop selling the product.
Note that options A, C and D would allow me to continue to deduct all health care costs including insurance premiums.
Thanks for your thoughts on this!
I'm semi-retired, all of my income is from my software product, which brings in a net of about $60K per year. I'm not doing any new development or marketing, and the sales are handled by a third-party company. So currently, my job consists of answering an average of three tech support calls per day and a few tech support emails. FIRECalc gives me a 95% success rate with $50,000 annual withdrawals if my income were to stop now.
The only reasons to completely retire are:
1. I currently need to be home to answer the phone during the week.
2. Although 999 out of 1000 customers are really nice and a true pleasure to deal with, there are a few unpleasant ones that can spoil my day.
3. I always have a slight worry about a possible frivolous lawsuit.
Options
A. Keep going as I am now.
B. Sell the product to another company.
C. Continue selling the product, but without telephone tech support.
D. Continue selling the product, but with no tech support at all. That is, with a big disclaimer at time of sale that says "WARNING: No tech support." I'd have an online forum, and I'd probably monitor it and help with unanswered questions periodically.
E. Just stop selling the product.
Note that options A, C and D would allow me to continue to deduct all health care costs including insurance premiums.
Thanks for your thoughts on this!