Question

Topic: Other

Retirement . . .ugh. Not For Me. What Should I Do?

Posted by Anonymous on 125 Points
Hi Marketing Experts. I'm asking this question on behalf of a family member.

This is a person with all kinds of experience . . . he's a mechanical engineer but has worked in various fields and tackled everything from operations to IT to finance to marketing. He was a big wig in corporate America and then started and successfully sold his own company. However, that company was a big hassle and sucked alot of time and energy out of him.

This is a man who can't sit still. Needs to use those little gray cells. Even has some money set aside to invest in another business and is even willing to relocate.

I've already given him my 2000 cents, but I wanted to get some of your opinions. Put yourself in his shoes. What businesses would you invest in? Any advice for this gentleman?
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RESPONSES

  • Posted by Blaine Wilkerson on Member
    Well, I am in his shoes...in a way. I chose to invest in creating my own marketing company.

    If he just wants to be a slient partner, there are all kinds of businesses and start-ups looking for such.

    In contrast to being "silent", there are many new businesses looking for investors who bring more to the table than money.

    You stated he was a big wig, an entrepreneur, and a jack of all trades, but it took too much of his time and energy. Now, he's ready to spend more time and energy?

    How involved is he wiling to get? How much does he want to work? What does he do best? What does he LIKE to do?

    Please clarify a bit!
  • Posted on Author
    Thanks for your replies so far.

    Hobbies: gardening, boating, anyting automotive, anything high-tech. He's great at designing, and is a good leader. He's conceptual and therefore not so good at sales. He willing to get involved in charitable activities but still wants and needs to have an income. He is willing to spend time and energy, but not like before when he worked 7 days a week. He's happy being a partner but I'm guessing that he can't be silent.

    The reason I was pretty vague is that I wanted to see what each of YOU would do in his shoes. Like him, all of you are professionals and, judging by your activities and your participation in this forum among others, probably won't like retirement that much either. What would you do specifically? Who would you contact? Where would you start looking? Keep in mind that in your 60s you're more risk averse than when you're in your 30s-40s.
  • Posted by Blaine Wilkerson on Member
    Specifically, I would find a small company with good potential and invest for a profit share and some part-time activities relating to the business in which I could exercise my wisdom and keep the ole' wheels churning. Then, I would go work in the garden or take a nap...maybe go fishing or work on that classic car I'm rebuilding in the garage, etc.

    Like I mentioned earlier, it all depends on what HE wants to do...and likes to do best.

    I understand you want me to imagine I am 60 years old, retired, and bored....but I'm not; and my interests, although the exact same as his, may not fall within what he really wants to do.

    I have some opportunities for him. Contact via email for more info if interested.
  • Posted by Blaine Wilkerson on Member
    I agree with Amanda. Why doesn't he invest in you and your business?
  • Posted by Blaine Wilkerson on Accepted
    OK. After giving it some thought, if I were about to retire, this is what I would do:

    Hire someone to take over my position at my company. I would retain controlling and/or majority stock, live off the profits, travel the world and use my spare time and money to pursue the interests I never dedicated time to during all those years of working. When it comes my time to pass, the company goes to my family to support the legacy.

    In his case, since he already sold his business, I would invest in a good, strong start-up and/or young company, live off the return, travel the world and use my spare time and money to pursue the interests I never dedicated time to during all those years of working. When it comes my time to pass, the stock/profit share goes to my family to support the legacy.

    So who would I contact? I would start by asking people in your network and posting questions in forums 8) .
  • Posted on Author
    Hi everyone. It's so true that Marketing people are well-rounded (and I'm not talking your waistline). It's amazing that just by posting a seemingly silly question like this one will generate a wealth of different ideas.

    I'll definitely send him the link to this thread and he will contact those who have invited him to do so. And Katrina is right about the book. He's working on it.

    I want to thank you so far for your replies. I'll keep this question open for another day just in case anyone else has some specific ideas.

    PS-- he's in California and I'm in Italy. I'd love to have an investor and actually I'm in dire need of a partner, but for now I'm settling for lots of sound advice via email and phone calls.
  • Posted on Author
    Though this seemed like a straight forward question, I've learned more than just one lesson here. I think that as marketers, and above all as people, we are called on to empathize with others. And if we can't empathize, we should at least sympathize, offer help or compassion, see the world through someone else's eyes. Isn't that what building a relationship is about? And don't we as marketers want to touch consumers on a personal and human level? Hmmm.

    Special thanks to all who answered this question not off-handedly, but in depth, not for what it seems, but what it could be, not with a smirk, but with a smile.
  • Posted by SRyan ;] on Member
    Ricky,

    Is this a smirk? :]
    Is this a smile? :)

    I hope I haven't been smirking when I should have been smiling around here...

    Seriously, I found this old post of yours because I wanted to find out what you're doing in Italy. I noticed your "hello" in Michelle's thread about Koala Blue, but I didn't see an email link in your profile. Contact me offline and tell me more!

    Shelley

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