Mid-Life Crisis?

jt stumbler

I'm 42. Tired in my career of 17 yrs. Taking anti-depressants because I can't deal with my jobs pressures. My give a damn is busted but I have loved ones who depend on me. I would like to buy a franchise and be my own boss but I don't have startup money. I want out of this career and its bs, but I don't know how. Any suggestions will be appreciated.

JamesThomas

Try checking books on "changing careers" at Amazon.

juni

JT, hi!

I don't know what sort of education you have, but have you thought of changing careers? Still working for someone, but in a different field?

Owning your own business takes at least 5 years to really get it going. Then there's the start up costs, business taxes which include social security tax which you pay the whole thing as a business owner. The matter of health insurance. Please educate yourself about owning your own business.

I'm not trying to discourage you, but these are some facts to consider.

Owning your own business does offer you flexibility, but you can't walk away from it either. There can be MORE STRESS because of that fact.

Juni

OnTheWayOut

It all depends on how dedicated to change you are and your total assets. If you own your home or have other assets, you could go into debt up to your neck. If not or if you want to avoid this, you can start a career in your new field of choice (an ordinary job) and find out how to go about franchising without money down (tough road). Otherwise, get a second job in a different field or go to college to fight the boredom. The second job or the degree might lead to new avenues that you enjoy.

jt stumbler

Thanks to all who responded.

OnTheWayOut

You could also fight the boredom by being totally assimilated into a mind-control cult that sucks up all your money, time, energy, friends, family, thinking. BUT I DON'T RECOMMEND IT.

jt stumbler

You could also fight the boredom by being totally assimilated into a mind-control cult that sucks up all your money, time, energy, friends, family, thinking. BUT I DON'T RECOMMEND IT. Yeah. Thanks

nonamegiven

I've often thought about what you are talking about. I have too much to loose and not big enough balls I suppose. For now I'm working for the man.

jt stumbler

For now I'm working for the man.

Indeed. Do you even somewhat like what you are doing?

RULES & REGULATIONS

I know what you are going thru.I'm 45 and have owned my own business for 20 years and it's time to do something different.When I wake up each morning,I force myself to go to work and have to put up with difficult customers.Having 1 boss is hard enough.Try having 80 customers.They try to tell you how to do your job.They send in payments 3 months after you completed the work.They call to ask when I'm getting to their job.....Why aren't you here?.....If you don't get to my job, I will get someone else?.......I can get someone to do the job cheaper......

These are some questions you need to ask yourself:

Are you ready for competition who cut their prices so low you can't compete?

Do I have enough money to sustain me if the business does not do well?

What happens when my employees quit or do not show up for work?

Do I need to be there at every moment or can I trust them to do their work without supervision?

Do I know how to save enough money to pay quarterly taxes?

Don't forget you get no paid vacations when you are self employed.You have to contribute all of you Social Security Taxes.The list goes on and on.

I want to do something else but cannot think of another business right now.I don't want to work for someone else since I've been self employed for 20 years.Good luck in what you try to pursue.There are others just like you out there.

Mid-Life Crisis?

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