It’s 63 I have more than enough to retire on. Divorced had to write the ex-wife a lump sum check at age 60. But I am OK.
I’ve been in a family business since age 15. My father went to work till age 90 5 days a week and then had a stroke. Fortunately he survived until 95 1/2.
I don’t want to be my father at age 90 still working. I’m in a fourth generation family business and feel like I’m working for three constituencies. 1. My customers, 2. My employee, 3. The government/IRS.
If there is something left over then I get it. Frankly I’m just tired and trying to decide do I sell the business, do I shut it down and liquidate it.
Personally I don’t want my kids to carry it on because it no longer is fun and not profitable like it was until 2008.
We struggle every day to find employees, it’s a difficult task because nobody wants to grow up to being over the road truck driver or to be doing physical manual labor which is a requirement of the industry.
Fortunately this business which is been around since 1908 has provided a good living for my family for generations. Now I just have to make sure that I invest in a way that my kids and their grandkids will never have a problem.
“We struggle every day to find employees, it’s a difficult task because nobody wants to grow up to being over the road truck”
Nobody in America wants to work.
They want an inflated salary for adding zero value to their community.
Actually, globalism ran out of slaves 10 or 15 years ago, the global economy doesn’t have enough worker bee/ants to keep the material wealth going.
Tough times are coming, just like they did in the past.
“...nobody wants to grow up to being over the road truck driver or to be doing physical manual labor which is a requirement of the industry.”
I’m gonna break radio silence for a request and word of advice here.
Give it one more year please. IMO we have started a 40 year bear market similar to Japan 1980s. Similar reasons and trajectory. The FED is going to protect the dollar’s reserve currency status at all costs. Everything else will be forfeited.
Taxes will go up and currency will continue to devalue but slower to other currencies.
Trucking is supply side economics which can pass on costs to customers. It’s a gem. Those who have money will always consume and they will need products brought to them.
Some of the best, most enduring companies got started in the Great Depression, example Publix. Competitors got wiped out as in a forest fire. Those who focused down on the business model and developed most efficient lines of effort came to dominate their industry from meager beginnings. Most of the companies that got their start in the Depression were supply side.
Although you want to quit you may also be on the cusp of developing your company into a corporation which dominates the industry for generations to come. Never underestimate the myopic stupidity and inefficiencies of your larger corporate competitors. Many are dinosaurs currently with a great bright object in the sky above them.