Future Finances: Time vs Money
Comments
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Hi CRV1963
Do what feels right for you, maybe give it a time limit? Take out the corporate rubbish, give it a year and if things haven't improved/ the bull**** creeps back in then wind it up?
I know from posts elsewhere you are concerned about the employees, maybe after a period of trying to meet the customer half way and if that doesn't work out tell them "I'm going, buy me out and put a manager in? Or maybe say to employees- I've had enough, do you collectively want to buy me out, I'll help with your business plan for the banks, or should I close down, sell up and retire?"
But whatever you decide have a timescale and a plan for when you go.
^^^ Good advice right there ^^^
Can the business afford for you to put a manager in? Someone you can train up and then take a very much back seat, or do you need to be in control? (Not a criticism but an honest question, I had a boss who had to know the ins and outs of everything and no budgets could be touched without his approval! Made my roll at the time hell!)
That sounds like a good plan for a compromise and for easing into actual retirement?
Good luck with the thinking
CRV~ * ~ "A goal without a plan is just a wish" Antoine de Saint Expuery ~ * ~0 -
:wave:
Quick question lovely visitors, do any of you have threads too? I'd love to reciprocate with visits if you do!
Another busy day, but not sure it's been very productive ...
* Spending
#1): No FleaBay spending - achieved, so 2 / 31.
#2) Market for veg and a few bits from local c00p, total of £27 so £ 27 / £165 spent.
OH did well at the market, got lots of courgettes and cherry tomatoes in bargain bowl quantities, so will be making a pasta sauce and some dried tomatoes, can reuse them in lots of other recipes so they're a bit of a standby for us.
* Saving
# 1) Got my £60 for this month out of the cashpoint and bit the bullet by putting £40 straight into the holiday purse, with the aim of trying to just have the £20 this month, thought that would be more proactive than the other way around, so £ 40 / £75 (unless I have to borrow a fiver back out of it)! :rotfl:
# 2) Sorted a pile of books and bits to list onto Shp0ck at weekend, but not actually listed anything yet. So ISA saving £ 0 / £120.
* Sorting
#1) I've started revising the current figures. I've noticed that The Number thread has resurfaced on the Pensions board (along with another very similar Number thread) so I'm re-reading some of that to help me ensure I don't leave anything out.
#2) Checked out the Will page on MSE and, after what OH said about he'd prefer to benefit a charity than a solicitor, I followed up with the Cancer Research UK free Wills page. The postcode checker showed a few solicitors in the local area so I'll make a few calls over the next week or so. I do need to check with them though because it's for over 55s and I'm not although OH is, so I don't know if we'll be eligible.
Simple pleasures:
- Ice cream in the garden this evening.
- Saw the little Heron again this evening, very nervously trying to fish, not sure it has the hang of it yet.
- Bedtime and clean sheets!
SaR x~ * ~ "A goal without a plan is just a wish" Antoine de Saint Expuery ~ * ~0 -
Just a suggestion, but I cash my TCB out as soon as I can, usually into vouchers that DH is allowed to spend on e-books. I would worry if it built up as much as that, in case they either changed the rules or stopped offering my preferred cashback method. That happened with a survey site I used to use: they changed from sending vouchers to insisting on PayPal, which I never use!ShyAndRetiring wrote: »- TCB, as Savvy Sue rightly says, is TopCashBack. I never buy anything online without checking first to see if I can get it through TCB and as FleaBay is among its retailers I seem to have built up quite a bit on account of that. I have about £100 currently pending to cash out and I have about £50 which I swapped for £70 of NotOnTheH*ghSt vouchers, so am gently banking a bit of Xmas money there!
Again, this is just a suggestion, but once the boys left home, we gradually moved from 'big shop once a week' to 'popping into the Coop on our way home whenever we need something'. However, we've since moved on from that to 'Fruit and veg doorstep delivery weekly' and now to '2 pints of milk 3 times a week delivered to the door' as well.ShyAndRetiring wrote: »- Food shopping
Now, I can't say for certain that this saves us money, but I think it does, because it saves all those impulse buys when you've just popped in for milk or bananas. Yes, we still use the Coop rather than doing a 'big shop', but we don't do nearly as many 'little shops', and quite often I can send DH (he hates doing a 'big shop') and he's less prone to impulses ...
£300 for two wills doesn't sound bad. If the 'legal firm' were will-writers rather than 'proper' solicitors, re-arrange this sentence: 'bargepole a with touch not do'.ShyAndRetiring wrote: »
* Phoned the solicitors who did our recent conveyancing for house move. I've used them across 7 different moves so I asked for a 'regular client' price for Mirror Wills for the 2 of us. £300 was quoted. Hmmm.
* Have another quote of £165 from a legal firm but don't know them. More hmmm.
:think: Think I'll research prices a little more and check out any charity Will offers - OH says he'd rather leave £200 to a charity for a 'free' will than pay £300.
Plus, you do not actually want 'mirror wills' if your DH is leaving some stuff to his DDs, and IMO it would be wise for his will to state that he is leaving X and Y to them, so that they get what he wants to go to them when he dies, whether that's first or second.
Plus plus, my parents' solicitor advised that it was actually better to give things while you're alive, in case they can't be found / have been sold / are damaged at the time of death. Also it may save grief and heartache. Just as an example, my mum had something which she'd got from her mum: it was something to do with the first time Granddad won a tournament in the sport he enjoyed. Now whenever Mum asked if there was anything any of us would like, ALL the girls wanted THAT. Mum had intended to leave it in her will, but instead she gave it to one of us some years before she died. And I'm glad, because we were all very civilised when she died, but if that thing - not valuable in itself - had been there to be argued over, we might have argued, and some of us would have felt hurt or aggrieved.
So, just some thoughts which others may or may not find helpful.Signature removed for peace of mind0 -
Do what feels right for you, maybe give it a time limit? Take out the corporate rubbish, give it a year and if things haven't improved/ the bull**** creeps back in then wind it up?
I know from posts elsewhere you are concerned about the employees, maybe after a period of trying to meet the customer half way and if that doesn't work out tell them "I'm going, buy me out and put a manager in? Or maybe say to employees- I've had enough, do you collectively want to buy me out, I'll help with your business plan for the banks, or should I close down, sell up and retire?"
But whatever you decide have a timescale and a plan for when you go.
Can the business afford for you to put a manager in? Someone you can train up and then take a very much back seat, or do you need to be in control? (Not a criticism but an honest question, I had a boss who had to know the ins and outs of everything and no budgets could be touched without his approval! Made my roll at the time hell!)
Good luck with the thinking
CRV
Thank you CRV, I really appreciate your input.
It isn't just their corporate bullshine, it's the red tape and some new stuff coming up in the next year. I used to organise trucks and drivers, now at least 50% of my time is engaged in pointless stuff.
I have considered stepping out of work and letting existing staff run the job. I have two excellent managers and I am the very opposite of a micro manager. Philosophy is take people on, support them for a few months and then let them loose, manager or driver. Can't see the point of employing people to not trust them and I do believe that staff who feel that I have confidence in them rise to the top - spend your life monitoring staff and telling them that they need you to do half their job and they just aren't invested in it.
I think that they could manage if we got someone in that could do some of the admin and the odd bit of driving and my FM would take over some of my work.
Sell to the drivers...had vaguely wafted through my mind, and as much as I would love it I suspect there would be quite a few difficulties. Drivers are temperamental creatures and you need to herd them without them knowing you do so. Working as a co-operative:rotfl:
Plan? Sorry, do not understand. Many years ago I had a vague idea about running a couple of vans and then I kind of bought some more and some trucks and opened another depot and became so specialised that there are only four companies that do what we do, with no plan.
On my wall is a quote by Sir John Harvey Jones, which is completely right for me:
Planning is an unnatural process. It is much more fun to do something. And the nice thing about not planning is that failure comes as a complete surprised instead of being preceded by a period of worry and depression
So I'll jump and see what happens, things don't work out, do something else. Bodie's knackered but the brain is about 15!0 -
ShyAndRetiring wrote: »Hi Bugslet,Been at home for a few days, internet free zone there, so catching up here. Can just imagine the ungainly heron:D
Yes, it was marvellous!
Another one that will mention PoA - very handy should you ever require it, it's like having magic keys that open otherwise shut doors!
Appreciate that, it's on the list!
I think my last update was that I had told my customer that I was winding up the business:j, after nearly two months they have come back and said if they take out all the corporate rubbish, will I stay. Pretty please. I'm dithering.
Ooooh, the plot thickens! Is taking out the corporate rubbish something that could make continuing tolerable for you?And are they likely to follow through and actually do it if they've promised you things will improve? Big decisions there, even on top of the time vs money questions of retirement! If you agree to stay, would you want to set a time limit on it, do you think? [ /QUOTE]
I think my will cost £230.00 for just me and it wasn't straightforward as I have no relatives and had to make provision for the business, so £300.00 sounds about right. Mine was a proper solicitor - I think living out in the sticks, or a poor town like I do, makes a difference. Savvy is obviously dead posh, like:p.
I agree about getting things delivered, I pop to the local Co-op and invariably their Portuguese custard tarts fall into the shopping basket.:o
You may need to add some mackerel to your shopping list, tie some string round it and try and train the heron:D
I'm doing a lot of thinking SAR, and CRV has chucked some thoughts into the mix.
I walked along the canal on Monday and got talking to a lady that after her husband had died, rented her house out and had spent the last 9 years living on board her barge. She was 77, looked a lot more like 57! Getting a barge was something Mr Bugs and I had looked at quite extensively. Our late OHs even shared the same name. I don't believe in fate, but if I did......;)
I don't have a diary, with work it would be a bit too identifying at the moment, I prefer to bury my ramblings in other peoples' diaries.0 -
ShyAndRetiring wrote: »Hi lovely visitors!
Simple Pleasures: A weekend at Doodlefest 2018! Mainly dog related ....0 -
thriftytracey wrote: »Simple Pleasures: A weekend at Doodlefest 2018! Mainly dog related ....
That is a good way to spend a weekend!:T0 -
S&R, this is such a positive and uplifting thread, and I'm sure I'm just one of many who are enjoying all the posts which have been made. They have certainly made for interesting reading and really informative too.
I was fortunate to take early retirement (aged 55) 5 years ago. My main reason for doing so was to enjoy more time with my wife. My job (which I loved) took me far and wide, which in turn meant that my wife spent long periods of time on her own - not ideal at all. So the decision was made for us both to retire. Like many couples we planned for years before doing so and looked forward to the years ahead. Four years down the line (a year ago), my wife died very suddenly. She had always enjoyed such good health and so to lose her so quickly (within 24 hrs) was a terrible shock. This is such 'a happy' thread and so I will not detail the months which followed - suffice to say that I entered a really dark tunnel, which I did eventually emerge from.Eventually I sold the home which we had spent so many years together, realising pretty soon on that by staying, I would not be able to move on with my life. Turning that key for the last time was really hard, but in so doing it gave me the impetus to start planning for the future. At this point in time I'm homeless lol. No, I'm actually staying with various friends until next spring, and then I'm going to embark on a new project - building my new home
So, if the finances are in place, I would say to anyone considering retirement to 'go for it'. Who knows what tomorrow will bring. Anyway, I have rambled enough 0 -
I totally agree.S&R, this is such a positive and uplifting thread, and I'm sure I'm just one of many who are enjoying all the posts which have been made. They have certainly made for interesting reading and really informative too.
Sorry for your loss MrAPJIIf you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them.
Solicitor/survey savings 300/1700
Emergency fund 0/1000
Buffer fund 0/2000 -
ShyAndRetiring wrote: »Hi Bugslet,
I think my will cost £230.00 for just me and it wasn't straightforward as I have no relatives and had to make provision for the business, so £300.00 sounds about right. Mine was a proper solicitor - I think living out in the sticks, or a poor town like I do, makes a difference. Savvy is obviously dead posh, like:p. Useful to be able to compare the costs, thanks Bugslet. The more I investigate the costs, the more reasonable the quote from the solicitor is starting to sound.
I agree about getting things delivered, I pop to the local Co-op and invariably their Portuguese custard tarts fall into the shopping basket.:o
Yarp, at least OH going to the veg market once a week reduces the risk of chocolate biscuits, beer and those custard tarts landing in the trolley!
You may need to add some mackerel to your shopping list, tie some string round it and try and train the heron:D
Judging by the state of the heron and its ungainly management of its own body, I think training potential is limited (with or without mackerel)! :rotfl:
I'm doing a lot of thinking SAR, and CRV has chucked some thoughts into the mix.
Make sure you get some sunshine time as well as thinking time this weekend tho!
I walked along the canal on Monday and got talking to a lady that after her husband had died, rented her house out and had spent the last 9 years living on board her barge. She was 77, looked a lot more like 57! Getting a barge was something Mr Bugs and I had looked at quite extensively. Our late OHs even shared the same name. I don't believe in fate, but if I did......;)
Oh my goodness, going off to live in a barge was my plan A! Unfortunately, it was Mr SaR's plan Z, so a non-starter. I still get the urge though and it's partly why I have to live next to the coast. Never say never Bugslet?
I don't have a diary, with work it would be a bit too identifying at the moment, I prefer to bury my ramblings in other peoples' diaries.
Ramblings? Welcome and thought-provoking insights from where I'm standing!
Enjoy your weekend Bugslet x~ * ~ "A goal without a plan is just a wish" Antoine de Saint Expuery ~ * ~0
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