Iver
Active Member
Need some advice: 1. We are downsizing on the way to retiring. Our idea is to move into a rented appartment or condo in the area here while we travel in the trailer to find the area we want to retire to (probably the Carson City, Reno area of NV). We have a house full of life long accumulation. Many of the things we love but know that we will not have room in the future. There are quite a few things we can give to family and friends but still there will be much left over. What have others done? Is there a national organization that does estate sales, etc?
2. We own a retail business and I think, with the outstanding young manger we now have, we can maintain ownership and provide guidance from afar. My reasoning is that if we could sell it (and that is not certain) the proceeds, conservatively invested, would earn X$ a year at today's rates, with the capital untouched. If we kept ownership of the business I feel we could take at least 2X$ a year out of it. There are obvious risk with maintaining ownership but I feel that the risk is worth the return. Even if the business did not continue to grow this income would still be reasonable. I also feel that if the structure and marketing plans are continued as we have set them the business will increase in value and make the selling, some time in the future (perhaps ten years), even better.
I do know that if you want to make God laugh all you have to do is tell him YOUR plans ... in any case what do you think?
2. We own a retail business and I think, with the outstanding young manger we now have, we can maintain ownership and provide guidance from afar. My reasoning is that if we could sell it (and that is not certain) the proceeds, conservatively invested, would earn X$ a year at today's rates, with the capital untouched. If we kept ownership of the business I feel we could take at least 2X$ a year out of it. There are obvious risk with maintaining ownership but I feel that the risk is worth the return. Even if the business did not continue to grow this income would still be reasonable. I also feel that if the structure and marketing plans are continued as we have set them the business will increase in value and make the selling, some time in the future (perhaps ten years), even better.
I do know that if you want to make God laugh all you have to do is tell him YOUR plans ... in any case what do you think?
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