Do you think you are too old to start a business?
- Thread starter vgane
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prasad1
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Starting a business is very easy. Running a successful business is altogether different proposition. It requires 24X7 commitment at least first 18 months. Then also ultimately is is your baby. The rewards of running a successful business is great joy, but the physical, financial, and mental drain will sap you. At older age it is difficult to run a business on your own. Exceptions are rare.
I always had a business (software development), after retiring I started building Hotels and running them. I had good partners who had the expertise of managing a hotel so we were successful. I just started a Sub-division building Adult living homes. It is sputtering along, fortunately it was all cash deal so no bank is breathing down my neck. Similarly I have a Gas-station which is coming along, but has not produced any substantial profits. So before starting a business please do your homework. It can be fun and may not produce any income.
I always had a business (software development), after retiring I started building Hotels and running them. I had good partners who had the expertise of managing a hotel so we were successful. I just started a Sub-division building Adult living homes. It is sputtering along, fortunately it was all cash deal so no bank is breathing down my neck. Similarly I have a Gas-station which is coming along, but has not produced any substantial profits. So before starting a business please do your homework. It can be fun and may not produce any income.
Great to know your achievments in business
thanks for warning people about risks in business and need for homework and commitment. people can do business out
of interest if not for money.I find TBs in india complaining about their ungrateful children and living conditions. most have
lost their capacity to live life to the fullest. they are living corpses waiting for death.
I keep myself involved in some project or other relating to education or marriages of children of relatives . I dabble in
real estate and stock market for fun than money making.but I am not a big loser so far
I go to visit all places all over the world mostly on my own with wife without going to travel agents and middle men
I hardly have time nor have any need for money. when I do need, I happily speculate .to generate money .so far my
touch has been good. frankly I do not know how long good times will last.
Prasad Ji,
This is wonderful! Thanks for sharing this!
We have an entrepreneur amongst us! I am proud of that!
prasad1
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Speculating in stocks and real estate has been very rewarding with lot less headache. I buy - renovate - sell or rent houses for about 15% return. I have even better luck on my investment portfolio of stocks. I can trade the stock on internet without leaving the comfort of the home. More over I am totally free to move around the globe and not loose a day of trading.
Yes there are various ways to make money and utilize your time.
prasad1
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Thank you. I love reading your post, you have diverse interest, and they are very informative. We might have different political views but I enjoy reading your side of the story.
Thank you Sir
After retirement I toyed with the idea of floating a service company.
decided against it since I found playing with stocks sitting in comfort of home is sensible. but I try only index stocks
buying real estate using online info. and getting loans from govt banks using credentials to finance buying real
estate is a good strategy. it is only paper management.
rentals of property also gives good returns in india if it is in metros.
capital appreciation of property can make one affluent very fast with least tears
no business ventures for me
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