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post #1 of 23 (permalink) Old 11-21-2006, 07:47 PM Thread Starter
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Would you retire?

This question dawned on me yesterday when watching the president of my company running around like a lunatic very stressed out. I just asked myself, Why? If you had your own company and had no shareholders to answer to would you close up shop and stop working and enjoy your money? I have worked for people that made 55 mil per year in sales at their company and others that were general managers making 3 mil per year. Yet they continued to work still. I would say that if I had just 300k per year guaranteed income from investments or interest I would retire. Maybe I am a lazy sob or perhaps I like enjoying life more than having power. I think when people have so much money that an extra 10 mil doesn't even matter it must be the power thing that drives them. Or maybe it's a constant challenge thing, if you really look into the really successful CEO's and top management most of them have left a wake of ex wives and husbands because their pursuit of business success have put family life in the back burner. What your take, anyone know anyone who is filthy rich but keeps working? Hugh Heffener doesn't count, him working is how he keeps his influx of new girlfriends

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post #2 of 23 (permalink) Old 11-21-2006, 07:53 PM
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i would think the drive is to simply be the best.
face it , no matter how much you make there is still money problems and bills are still due. the more you make the more you spend.

also to that affect, there is a good feeling and security you give your employees, your township/city/state, depending on how big you are.

there is more to life then just yourself and enough money to live the rest of your life on.


if i made a few million a year PROFIT and only used 50% of it to live like a king. i also had 100 or 100's employees? i wouldn't stop working. i just would have alot of time off.



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post #3 of 23 (permalink) Old 11-21-2006, 07:57 PM
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I would stop regular work. Since I teach I would go part time at a school and work with a handfull of kids each week.

day to day stuff would be gone.

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post #4 of 23 (permalink) Old 11-21-2006, 07:57 PM
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There are many reasons people do what they do.

Some keep working because money is just used to keep score at that level. (and family and spouses are lumped into that keeping score catagory, unfortunately)

Some literally are identified by their position and if they stopped working they fear losing their identity.

Would I close up shop? No.. That would put others out of work. I'd search high and low to find the right personality mindset who would uphold the same ideals and let the business be purchased away on the cheap.

Even then I'd probably still 'work' doing something that gives me the opportunity to meet people from different walks of life.

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post #5 of 23 (permalink) Old 11-21-2006, 08:17 PM
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I honestly don't know if I can ever retire. I cant even take vacation time without going out of my mind from boredom. Last week i took the whole week off, instead of just vegging on the couch I worked 10 hours a day doing carpentry in my basement and still only took a half hour lunch. I get depressed if I don't have anything to do.




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post #6 of 23 (permalink) Old 11-21-2006, 09:00 PM
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Quote:
Originally Posted by HDTony
I honestly dont know if I can ever retire. I cant even take vacation time without going out of my mind from boredom. Last week i took the whole week off, instead of just vegging on the couc I orked 10 hours a day doing carpentry in my basement and still only took a half hour lunch. I get depressed if I dont have anything to do.


good, god man!

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post #7 of 23 (permalink) Old 11-21-2006, 09:48 PM
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You asshole




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Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

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post #8 of 23 (permalink) Old 11-21-2006, 09:55 PM
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I would retire from working for someone else. Not even a close call!

I would focus more on studio and live recording and photography.

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post #9 of 23 (permalink) Old 11-21-2006, 11:14 PM
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Yeah, I hear you Under200, my boss is the same way. Owns six hotels and a store and runs around like a chicken with his head cut off . I say to myself, there is no way I would do that if I were in his position. I wouldn't quit, but I would definitely make my life easier. I asked him and his sons this question. The main answer they gave me is that they love to expand and build on their business. For them, expanding is more important than profit, and similar to what Arch said, they really define themselves with their work. If I were in the same shoes, I would work hard until I found a good team of trustworthy people to run most of the business for me. Although I will admit, it is difficult to find trustworthy people to take care of millions of your money. I'm sure this is also a reason why they still do what they do. I would concentrate on organizing my business to minimize stress, and would check in on it weekly. Other than that, enjoy other things in life.

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post #10 of 23 (permalink) Old 11-21-2006, 11:45 PM
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I know a many people like that as well. I think it has to do with boredom, you work your whole life and then stop... it's a life change. Takes time to enjoy it.
Also I think as my aunt told me, it has to do with respect. You sit on your ass all day or you make something of yourself still?
If I was filthy rich, had my own company or whatever I'd prolly come in like 3 days a week or something, but don't think I could do nothing all day either. I'd drive myself crazy and prolly kill my husband I'd learn new things, travel, take up new hobbies that I couldn't afford back in the past and I'd give a lot of my $$ away to people that also needed it.

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post #11 of 23 (permalink) Old 11-22-2006, 02:08 AM
 
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my uncle is a co-president at a company downtown (no, I don't think he'd pay a ransom for me so don't get any ideas about a quick buck ), I talked to him about this once and he said it's about the company more than the money. To be at that position you have to already have vested a lot of time/effort and it's almost impossible to just walk away. It would have to be even harder if it's a company you started from nothing, it'd be like writing off a child, well one you like at least. There's a book, From Good to Great, it gets into having the right people at work and they're the ones who aren't there for money but there for the good of the company. That's why it's hard to walk away, you don't know if the next guy is gonna take good care of you baby or not
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post #12 of 23 (permalink) Old 11-22-2006, 05:48 AM Thread Starter
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Quote:
Originally Posted by ChiefBD
Yeah, I hear you Under200, my boss is the same way. Owns six hotels and a store and runs around like a chicken with his head cut off . I say to myself, there is no way I would do that if I were in his position. I wouldn't quit, but I would definitely make my life easier. I asked him and his sons this question. The main answer they gave me is that they love to expand and build on their business. For them, expanding is more important than profit, and similar to what Arch said, they really define themselves with their work. If I were in the same shoes, I would work hard until I found a good team of trustworthy people to run most of the business for me. Although I will admit, it is difficult to find trustworthy people to take care of millions of your money. I'm sure this is also a reason why they still do what they do. I would concentrate on organizing my business to minimize stress, and would check in on it weekly. Other than that, enjoy other things in life.
+1 Good plan, I wouldn't mind being known by the new people as the boss that just drops in once per week

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post #13 of 23 (permalink) Old 11-22-2006, 06:33 AM
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Retire? When is enough, enough? I'm not sure. Isn't there always something you can't afford?

Yeah, I'd retire. Spend time traveling... Adventures, tracks, photos, writing, music.
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post #14 of 23 (permalink) Old 11-22-2006, 06:35 AM
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Arch has it spot on. Working is who these people are. It's not about the money it's their identity.

Would I retire if I had millions? No, I'd still work, but I'd probably go to a small airport and control traffic there part time, then I'd spend the rest of my time traveling and atleast continue to ATTEMPT to one day maybe complete a climb or summit a mountain.

Never a bad time to climb... unless the weather is really horrible, and then you climb inside!

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Last edited by Labdog; 11-22-2006 at 07:14 AM.
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post #15 of 23 (permalink) Old 11-22-2006, 07:15 AM
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Nope i honestly don't think i could.

Boredom would either kill me or i would drain the bank account buying shit to keep me busy!

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post #16 of 23 (permalink) Old 11-22-2006, 07:32 AM
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I just saw my edited post. @Labdog

Never a bad time to climb... unless the weather is really horrible, and then you climb inside!

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post #17 of 23 (permalink) Old 11-22-2006, 08:10 AM
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Negative.

1. You can never have too much money.
2. I'd be bored as hell.
3. If no jobs excite me here, i'll just buy a small island in Hawaii and learn how to surf.

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post #18 of 23 (permalink) Old 11-22-2006, 08:24 AM
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For lots of buisiness owners, it's not a job - it's a life. They created a demand for something and have found a way to supply that demand at a profit. Once you grow something beyond an idea - how can you walk away from it?

I don't know many people willing to make the sacrifices required to own a business for the sake of a payday down the road. My guess is that pride mixes with lots of other emotions and makes them want to stay involved.

That's my thought on business owners anyway.

If you're just a hired gun that makes $$'s to come in and slash budgets and then float away on a golden parachute? That's a little different. That's when paychecks are little more than a commodity that's traded for status and ego. In that case, I'd go buy another car/bike and go take a shit in my neighbor's gated lawn...just for the hell of it.

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post #19 of 23 (permalink) Old 11-22-2006, 10:04 AM
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Quote:
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I just saw my edited post. @Labdog
Bwaa.....BUSTED!

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post #20 of 23 (permalink) Old 11-22-2006, 10:08 AM
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retire ? hell , no !
I have 10mil mortgage to pay ...
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post #21 of 23 (permalink) Old 11-22-2006, 10:13 AM
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I learned six years ago that friends and family are why I go to work. I don't live for work. I enjoy what I do, and cannot think of another job I would enjoy more, short of lubing any of the Suicide Girls for a photo session. I would retire, and work to enjoy myself, winters in Florida to work for Disney, summers riding with all of you.
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post #22 of 23 (permalink) Old 11-25-2006, 03:45 PM
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Quote:
Originally Posted by Arch
.

Some keep working because money is just used to keep score at that level. (and family and spouses are lumped into that keeping score catagory, unfortunately)

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post #23 of 23 (permalink) Old 11-25-2006, 04:00 PM
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***Some keep working because money is just used to keep score at that level. (and family and spouses are lumped into that keeping score catagory, unfortunately)***

Souds like a sociopath.

Dissocial Personality Disorder ...... usually coming to attention because of a gross disparity between behavior and the prevailing social norms, and characterized by:

* callous unconcern for the feelings of others;
* gross and persistent attitude of irresponsibility and disregard for social norms, rules, and obligations;
* incapacity to maintain enduring relationships, though having no difficulty in establishing them;
* very low tolerance to frustration and a low threshold for discharge of aggression, including violence;
* incapacity to experience guilt or to profit from experience, particularly punishment;
* marked proneness to blame others, or to offer plausible rationalizations, for the behavior that has brought the patient into conflict with society.

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