My money or my life?

Discussion in 'Growing and Managing a Business' started by michaelkingdom, Mar 14, 2011.

  1. michaelkingdom

    michaelkingdom
    uix_expand uix_collapse
    New Member

    Joined:
    Mar 8, 2011
    Messages:
    2
    Likes Received:
    0
    Hello everyone,

    I have a business advice question that I am having incredible problems with.

    I am 35, married and I live in Atlanta. I own a small restaurant that does enough business to have a nice income. We're not talking big bucks but I have everything I want. My wife and I travel a little and we enjoy life. My father owns a very profitable heating/cooling business in upstate NY which he is looking to retire from in about five years. He has asked me if I would like to take it over. He earns between $400,000 - $500,000/yr.

    It would mean a huge boost in earning to take this opportunity. Currently I earn about $50,000/yr. But there are more things to consider than money. I am at the crossroads trying to decide if I should uproot my wife and I to move up to NY state. We really love Atlanta. We love the culture, the life, the ease of living. We have paid off our home and all vehicles and we are looking forward to having some children. We have no debt - zero. Life is looking pretty good here. In addition, the schools near us are excellent. The drawback to Atlanta is the long hot summer.

    Moving up north would mean living in a small, rural area. It is an "everyone knows everyone" area. I would be the boss of 75 employees, earning a fantastic income. My father has made it clear that if I decide to take it over, I will keep it until I retire and not sell it. That is the deal. What I am really worried about is that it is so rural and remote. We are an hour from the nearest small city. The schools are not that great. The winter is loooong.

    So, the question is: take the job/money in NY or continue living a comfortable life in Atlanta? I will inherit a great bit of money later so I am not worried about retirement. I just cannot figure out if the amazing salary is worth uprooting everything.

    Please help!!
     
  2. Matt

    Matt
    uix_expand uix_collapse
    Member

    Joined:
    Feb 15, 2011
    Messages:
    299
    Likes Received:
    15
    Well, you got to look at it all the ways. If you like your restaurant a lot and don't really like heating and plumbing stuff, then you should probably stay in Atlanta since you like it better there. Since you are may have kids, you will also want to look at how good the schools are like you mentioned. I personally don't know what the schools are like over there but that is defiantly something you need to really think about. Also, the money plays a big role. If you are getting enough income off the restaurant to keep your family in great health and enjoying then I think you are good. I would really recommend doing that if you really enjoy doing the work and really need the money. As you put it, it seems as you are pretty well set where you are now. In the end, I think you should make the decision since it is yourself and you know what you enjoy and don't enjoy :)
    Good luck with it!!
     
  3. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,575
    Likes Received:
    1,165
    Welcome to our Business Forum michaelkingdom.

    If you won the lotto and money was no longer a concern, which option would you chose?

    My own personal opinion, based on past experience, is that making such a dramatic life change just to earn more money is a dangerous step. Money can't buy happiness or contentment. Good luck with it.
     
  4. firstchoicecar

    firstchoicecar
    uix_expand uix_collapse
    Member

    Joined:
    Mar 17, 2010
    Messages:
    713
    Likes Received:
    29
    i prefer that you continue living a comfortable life in Atlanta,staying with your family is happy,i hope you will find the right decision.
     
  5. Alexishost

    Alexishost
    uix_expand uix_collapse
    Member

    Joined:
    Dec 28, 2009
    Messages:
    377
    Likes Received:
    14
    Your internal guidance
    Spend in the afternoon , and relax....... for a moment....michaelkingdom

    Ask your self those question...
    "should i take the job/money in NY or continue living a comfortable life in Atlanta?"

    and listen the answer within you. that is the best are the best answer you are going to receive for life changin decision in your life.
     

Share This Page