# Exit Strategy Shot to - HEL P!



## Mensa (Oct 19, 2010)

So, it's funny how life throws curve balls at you.

Two years ago, I created a transition plan which involved selling my business in 12 years - when I would be 50. Since that time, I've been working my plan - ie save x per year, make extra mortgage payments so I'm debt free when I retire, etc.

Along comes an offer to purchase the business, which is a fair market value offer. It would allow me to fund a 50 year retirement (I'm 40 now) but would be a bit more modest than planned. 

I'm torn.

Pros of selling now:
-10 years less of the rat race
-might be harder to sell in 10 years (business climate, interest rates, who knows?) so a "bird in the hand" may apply

Cons
-longer retirement to fund, with 10 fewer years of earnings to do it with
-what does one do with 50 years of spare time?*50 YEARS!* I've been so busy working that I don't even know where my interests lie

I'm lying awake at night thinking of this and my arguments to myself have become circular. Can anyone throw some thoughts/things to ponder at me? What would you do? What points should I be considering? Please help


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## jamesbe (May 8, 2010)

Sell and start again?

Sell and work part time at something you like doing and not give a crap since you don't really NEED the money?

That's what I could do


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## Four Pillars (Apr 5, 2009)

It's a wonder you even started a business in the first place, given that you are concerned with what might happen in 10 years. 

Unless the offer is significantly over market value, just keep the business.

And stop thinking too much.


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## Daniel A. (Mar 20, 2011)

A friend of mine sold a business 4 years ago when he was 49 then retired.
He had never really thought about what he was going to do after but sure makes it clear that he is grateful things worked out the way they did.

He and his wife winter somewhere warm and reflect on the simply things in life, the sound of the ocean waves, the changing colors in fall, you get the picture.

He bought an old house and has been spending the last year rebuilding it, I've not heard him ever speak about a lack of things to do.

He did go back and renew his interest in old hobbies which is how I met him.


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## Mensa (Oct 19, 2010)

Daniel - that's a good point. The trouble is remembering what I used to be interested in!  I get your point, though.

Jamesbe - both are things that have crossed my mind. I think I've nixed the part-time option though - it would be hard to sustain interest in something I don't really care about. Plus, I think, working for someone else might be something I'm not good with. Too many years on my own, I'm likely unemployable now. Sell and start again...maybe...

Mike - you sound like my brother! I know, I am a compulsive "but what if" person, as well as an over-thinker. Imagine if I had 50 years to drive myself nuts in. Yikes.

Thanks for your input. It does help to turn things around and look at them from a different angle.


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## hboy43 (May 10, 2009)

Mensa said:


> -what does one do with 50 years of spare time?*50 YEARS!*


I don't find the time is that spare. I am still falling behind!

Plus I have boat on the brain. Apparently boat maintenance is a never ending task. Hope to find out next summer.

hboy43


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## Young&Ambitious (Aug 11, 2010)

If people are interested now, why would they not be interested in +/- ten years? Depending on your business, clientele, demand etc etc who is to say this opportunity would not be around later at a point when you are more financially built?


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## Cal (Jun 17, 2009)

You can always give them a counter offer....

Also, who says you have to retire if you sell now, you could persue another position, perhaps stay with the business in some capacity, do something that you enjoy but doesn't pay well.

All the best.


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## Ihatetaxes (May 5, 2010)

Sell!!!! I'm the same age as you and own a business that I would sell in a second if the right offer came along. 

Congratulations on getting your business to the point you have attracted an offer!


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## Dmoney (Apr 28, 2011)

Sell and offer to work/consult with them as often as you want/ it's needed. No idea what the business is or if this is possible, but might be worth a try.


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## Square Root (Jan 30, 2010)

Such a personal issue. Advice from us will be of little use. Depends on YOU. You seem like a smart guy so spend some time thinking about what is important to you. One piece of advice: a little more money for retirement is always a good thing if it doesn't compromise the retirement date too much.


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## Lephturn (Aug 31, 2009)

Square Root said:


> Such a personal issue. Advice from us will be of little use. Depends on YOU. You seem like a smart guy so spend some time thinking about what is important to you. One piece of advice: a little more money for retirement is always a good thing if it doesn't compromise the retirement date too much.


If you find it "the rat race" and you don't love doing it - I'd consider selling. Who says you have to retire for 50 years? Sell and then do something you LOVE, that doesn't feel like work, that you've always wanted to do. Something you are passionate about - I bet you can find a way to start another business or make a living in whatever that thing is if you give it a shot.

Ask yourself this "If I only had 5 years to live, would I spend the next five years doing this?" If the answer is no that will inform your decision.


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## Mensa (Oct 19, 2010)

All very good points.

The business isn't such that I would be needed in any consulting capacity. It's unfortunate, since that might have offered a good "transition phase" into whatever comes next.

I think I'm a bit freaked out by how unexpected this situation is. As Mike pointed out upthread, I think too much. And likely too far ahead. So now an opportunity comes along, and my head is messed up because it upsets my plans.

I am still unsure whether to "fish or cut bait". A counter offer is what's going on now, so I'll see how that goes. While I'm waiting for a response, I'll try to look at this thing from a more positive perspective. Maybe it would help if I think of it not as upsetting my plans, but as something that allows me to consider other options.

Lephturn - no I wouldn't do this for 5 years if I had only 5 years to live. I might do it for one of them though...I'm a bit of a plodder, I'm afraid.

Will keep you posted. Thanks for all the opinions so far!


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## OptsyEagle (Nov 29, 2009)

Mensa said:


> -what does one do with 50 years of spare time?*50 YEARS!*


Who guaranteed you will get 50 more years? What if you only get 15 or 10 or ... _WATCH OUT FOR THAT BUS SWERVING JUST BEHIND YOU ! OH MY GODDDD. THE HUMANITY _. 

He was so young.


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## Mensa (Oct 19, 2010)

Too funny!


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## Eder (Feb 16, 2011)

Lephturn said:


> Ask yourself this "If I only had 5 years to live, would I spend the next five years doing this?" If the answer is no that will inform your decision.


I asked myself this just over 2 years ago ( I was 53). I sold the business and have been traveling with my wife ever since (I think we have spent about 2 weeks in our house in that time)

No regrets.


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## Mensa (Oct 19, 2010)

An update:

Couldn't get the buyer up enough to make sense to sell early, so no deal. Will continue schlepping for another 10 years (ish).

Thanks to all who commented. Truly appreciated your opinions.


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## humble_pie (Jun 7, 2009)

eder this is strange. Here you say you've been travelling 2 years, have only spent 2 weeks out of those past 104 weeks at home in the house.

but in another thread today you also say that you own unregistered guns (plural) that are, presumably, lying around loosely, unattended to, unsupervised, abandoned even, in that same house where you spend no time.

or perhaps the guns go travelling with you. This could work out OK if you only travel in canada, unless the police were to pick you up for some reason. You wouldn't be able to get across an international border with the firearms, though.

either way, it sounds a tad careless, maybe a mite irresponsible, just a little bit bizarro, with the weapons.


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## Pigzfly (Dec 2, 2010)

@humble_pie

Just because the guns may be unregistered, for whatever motivation and there are many, does not mean that they are not safely stored.
It also does not preclude the house being appropriately looked after.


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