The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Jimmy Buffett-Style Retirement

URL:  https://boards.fool.com/you-said-quotwhat-are-you-doing-today-toward-14237663.aspx

Subject:  Re: Question for those on the board Date:  1/31/2001  10:28 AM
Author:  GekkoII Number:  88 of 381

you said...

"What are you doing today toward those dreams *other* than saving the money?"

Personally, I am in the worse possible financial position to think about my bar dream. I am just out of school (which lasted forever, or so it seems), I am working part-time only b/c I have the bar exam @the end of this month, and thereafter (if successful) I will be starting a law practice on a shoe string while trying to support my family. I would bet that everyone on this board is closer financially to their dreams than I am.

So, what do I do w/no money. Well, this board is one thing. I also do some planning with my friend and potential partner as to the organization of our business. In doing so, we might incorporate or form a LLC, all which can be done @ a minimum of cost. We also pledge to take 1 to 2 trips per year for scouting out areas we might like to set up shop (its tough work :o)). I am going to do some research on liquor licenses, tax structures of different locales, etc. Our intial thought was that because neither one of us will be able to pull up stakes within the near future, we might buy a building w/in the next 5-8 years and lease it out to pay off the mortgage while we're freezing in New England.

Anyway, thats what I'm doing now. Can't wait to sip a montepulcino in your wine bar some day ChocoKitty...

Gekko II

Copyright 1996-2019 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us