Legal Bill

I still see news articles about people who are out of work. The articles are often about the psychological consequences of not being able to find work for a long period of time. Such articles make me wonder about the self employment option. It just seems to me that fewer people are willing to try to start their own business and really want a job instead, even if the job can't be found and they are experiencing depression, etc. For me, self employment is a given, so I thought I'd ask what some of you might do. Please share your thoughts on this topic.

Bill

Emil St-Hilaire

At my age,I'd retire.

NNY S2k

Already retired and plan to stay that way.
Levi

cosmomiller

The only way to really make money and call the shots is to have your own business. I have tried real estate on the side, taking over for someone who was retiring, but the timing was pretty bad. Started up a marine sting first aid company and still trying to make it work, just breaking even at this point.


http://www.oceancaresolutions.com/


If I were to start all over I would do what a few others have done I know: start a chain of self storage facilities. Its about 2.5-3.5 to get the thing done, hair, teeth, guts and eyes and then you do the refi. You have a caretaker in a house on site (security, accounting, managing dad to day) so you are not married to the business. If someone does not pay the rent, you don't have eviction problems that you have with people. Good depreciation write off.

Another sleeper are laundro-mats. You have to contend with maintenance and someone breaking apart the coin boxes about once a week but that is part of the deal. Once again you don't need to be there watching the till.

Still, I am glad I have been saving since I was in my early twenties. I have a few more years to official retirement with my main day job. The DB plan was gutted from bankruptcies so I have what I have. Pack your own parachute.

Legal Bill

Interesting. I might order a man o' war kit. We don't really get the other stuff up here.

dlq04

Great website; very eye catching. I was just chatting with a friend and former bar owner (imagine that), who bought a large storage facility near a very popular lakeside resort town. He said he wished he had done it years ago and is planning to double the storage ASAP. He said just what you said, it takes care of itself except for a manager.

MAGGIEMAE

Retired a couple of years ago even though they brought me back very part time ( one day a week)

S2KRAY

Retired in 07. Started a detailing business in 08. Doing well, detail some fun cars (Porsche, Ferrari, Vettes, cruisers, Aston Martin) and I pick up and deliver which is even more fun. I work alone and set my own schedule. Lots of referrals and the money is nice (Happy Hours and Jeep and bike goodies with profits). Got bored with retirement.

Scooterboy

If I were the age that I needed a job I would look at a car wash. In our area they are alway busy.

Emil St-Hilaire

If I Was younger,I would move to the States,and become a French language teacher.$$$

Parlez vous Francais ???