We are DINKS (well, used to be, but only wife's income now). Sold the business in my early 60s. Some transition time handing off Goodwill to buyer and mentoring.cusetownusa wrote:lol at bolded part.Cruise wrote:Not 100% retired, but maybe 98%.
Sleep until wake up.
Get out of bed when nature calls.
Coffee, electronic news sources, breakfast.
Take wife to work at University on days I freely audit classes there. Enjoy her parking pass. Enjoy the lectures and labs and the young students.
Golf on occasion.
Workouts: rebuilt muscle mass that I thought was gone forever.
Housecleaning and food shopping.
Pickup wife from work.
Ask wife to feel my muscles.
Grilling and some recipie experiments.
Trip planning and execution.
Nap when needed.
Some TV days, but not enough time.
Really enjoy not thinking about work. Glad I made the decision to sell my business.
Do you have kids? and how old are you? I could see this happening to me if I sell my business in 8-10 years. My wife would get a generous pension and retiree healthcare (teacher) if she works to 55 so it wouldn't make sense for her to retiree before then.
If you are thinking of selling your business, plan now. Visualize how it will happen. Talk to others who have sold their businesses. Read about it. See if someone will share their contract so you can tinker with it before you bring it to an attorney. I probably spent 10 years in the planning, and benefited greatly by the advice of those who came before me (who had sold business in other sectors), as well as my CPA.
One big issue for you may be how to structure your life while awaiting your wife's retirement. In my wife's case, she can retire now, but is having too much fun. I could travel the world without her, but chose to be around to support my wife by taking care of the household. Can't pressure her to retire, because there is no going back from that decision. Just have to be patient and let the process happen.