Semi/Early Retirement at a young age

C-dog

Howdy everyone. Just thought I'd drop in for an update and more advice if you don't mind.

Business has continued to excel this year and i'm now well beyond what I'd call financially secure. We took a month away to warmer climates early in the year and I've loosened the belt a little bit and bought myself a luxury suv. Our savings rate is lower, but we're still contributing heavily to our pensions and savings. Daughter, daddy and mummy are all doing the best.

We were approached a few weeks back by a company who has brokered deals for many of our client base and they themselves are a customer. The approach was to see if we were interested in selling our business. !!!! the bed time.

I've put the last 10 years of my life into this venture and its been intertwined with my life from it's inception. The way I run our business has and probably still does define me as a person. That scares me somewhat, that I may be giving it up. I also care what happens to the business and it's legacy. The team who work with me are an extension of my own family and I care very much that their employment is secure. On the flip side a new owner might and should be aiming to bring the business to new heights.

I'd relinquish my status as owner and would have to become a customer of my firm for future works. I believe our business is best in it's field and I wouldnt go elsewhere. But being on the other side of the table sounds daunting.

We've an estimate figure of value and my share exceeds far beyond our financial independence requirement in it's own right. It would allow immediate retirement if I so wish, or I could focus on other activities. What they are, I dont know. It all hinges on having a buyer and also what they are willing to pay so nothing is concrete yet.

In my mind I'm ready to sell - it's been a tough slog getting it to this level. Maybe a year in the garden and volunteering is what I need.

atush

Sounds tempting, but from what you say I cant see you 'resting' in the garden for a year- or even less. Sounds like you need something to do of some kind.

They arent interested in keeping you on?

C-dog

Hey Atush, I think they'd only need one of the directors to stay on and my partner is much keener than I. In fact option two is a buy out by them.

You're right, I'm not a sit in the garden type person. Well I havent been up to this point. I don't know what I'll do and if its a business venture it'll be out of interest rather than requirement, so may seem silly to the outside world. To me, probably the same also, but I'll not have a snifter of money worries in bear or bull market, so we should be golden.

I've just embarked on a spin off project within my business. I could see that becoming a much larger interest and possibly me keeping a stake in it, so that we get it to a profitable stage. It has scale as a saas and has potential.

Mainly I'll be spending time with the family. Much needed time in the outdoors / gym and I'll probably keep a few clients for "coaching" sessions away from active sales.

The world is my oyster. Or will be

C-dog

Those chickens, I'll never count them