I met my buddy John a few years back when We were both deep in post knee replacement therapy. He’s a year or 2 younger then me, is a hard worker and owns several little businesses (at the time, to me, they sounded more like side hustles)- He is a real deal entrepreneur. As a corporate guy I was fascinated and peppered him with questions. Johns a good natured fellow and answered them all. Actually he admitted that one of his business had started doing well and he was on the bit of a high. We’ve stayed in touch, exchange emails and chat every now and then. The nitch business has continued to grow exponentially. I have the sense that John is careful with money but hasn’t seen any real money until now. I do know he does not have a big pile for retirement.
John called 2 days a asked for my advice. Apparently the lucrative business attracted the attention of some investors. John got a lawyer friend who researched the investors and it is a legit all cash offer. Big money, retirement money, without a care money. “Ray what do I do? This thing is really flying but if I cash out now we are set. Marge wants to sell too” I said “John you are 62 you deserve retirement, your wife deserves retirement - dont let Greed steer you.” John’s selling the business.
I been thinking about John’s predicament - You know the stock market is 4 times what it was a few years ago - Im not a market timer -heck before I converted the 40 to cash equivalents Ive held for 30 years. A voice said hey “Ray you are 64 you deserve retirement, your wife deserves retirement - dont let Greed steer you.” I am converting more self directed IRA stuff to cash equivalents.
John called 2 days a asked for my advice. Apparently the lucrative business attracted the attention of some investors. John got a lawyer friend who researched the investors and it is a legit all cash offer. Big money, retirement money, without a care money. “Ray what do I do? This thing is really flying but if I cash out now we are set. Marge wants to sell too” I said “John you are 62 you deserve retirement, your wife deserves retirement - dont let Greed steer you.” John’s selling the business.
I been thinking about John’s predicament - You know the stock market is 4 times what it was a few years ago - Im not a market timer -heck before I converted the 40 to cash equivalents Ive held for 30 years. A voice said hey “Ray you are 64 you deserve retirement, your wife deserves retirement - dont let Greed steer you.” I am converting more self directed IRA stuff to cash equivalents.