Would you sell up?

Reggie. · 17-10-2022 05:53PM

The front lawn of that place would do me

17-10-2022 11:23PM

https://www.boards.ie/discussion/comment/119757125#Comment_119757125

I think similar thoughts when I'm away on farm walks, if I could just take one field like this home...................

Bass Reeves · 19-10-2022 01:17AM

OP a million might sound a lot of money. However how much will you really walk away with after CGT. 700-750k.

In 15 years you will earn 1.5 million off it. However the economics change entirely. You can avail of business retirement relief at 55. That means you can take 750k tax free. You children will be most of the way through college

Put as much as possible in to a pension fund.

This then give you options. If o e of the kids is interested you can semi retire and draw 50% of present income taking 1-2 days off a week and your weekends as well. Finish early at 4pm etc.

If not sell it then. Extract a super dividend at 0% tax and use the rest of the 750 relief to shelter some of the CGT. Hopefully the business will be worth more as well.

enricoh · 21-10-2022 09:49AM

Thanks folks, rang him yesterday to say no deal. I slept like a baby last night after a week of crap sleep so that alone tells me I was right! I can go back to giving out about work now!!

K.G. · 21-10-2022 10:54AM

https://www.boards.ie/discussion/comment/119758655#Comment_119758655

Sometimes looking at some of the videos on YouTube we do say are we wasting our time.fine fields of flat land where as in some of our places there isn't a third headland.every job you do here must be planned out from the first load in the gate before you start to allow for hills and wet patches

wrangler · 21-10-2022 12:36PM

https://www.boards.ie/discussion/comment/119773897#Comment_119773897

My decision to retire was made for me,

But your age it'd be important that you'd have a plan not just do it on spec, your lack of sleep could be more to do with an aversion to change.

Or the fact that the offer wasn't atttractive enough

kerryjack · 22-10-2022 08:48AM

First off well done A great achievement if it was me I would Sell up and try something different , A man that set up and ran a million euro business would be highly prized and could walk in to any business and get well paid for it.There is plenty lads straightout of college that think they know it all but are green behind the years and haven 't life experience , probably take a year out buy a luxury camper van and take the family around Europe for a year. Come back fresh and go at it again.

straight · 22-10-2022 04:48PM

https://www.boards.ie/discussion/comment/119778178#Comment_119778178

You will be coming back from Europe alone if you are planning on spending a year with your family in a camper van. 😉

enricoh · 23-10-2022 06:13PM

Thanks, I told the missus I might take it n relocate to South America under a different identity so she couldn't find me!

I was at engineering before which was more interesting n challenging so I might look into getting back to do a couple days a week at it. Get some half retired fella to hold the fort a couple of days a week. A mate had to pull the plug on his cafe during the week n is heartbroken so I know it was a fortunate predicament to be in. Thanks all.

893bet · 23-10-2022 07:11PM

Looking at this objectively a lot of people are sitting on million quid assets here.

million quid assets that come within an assess roar of taking out 100k profit a year.

70-80 acres of middling land, a 4 bay slatted shed a tractor and a few bits, plus stock and entitlements. A million wouldn’t buy it.

Would you sell up?

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