At a crossroads - Which direction would you take??

[bathtub-row]

I'm about to close on my house and will be making a nice profit on it. It's not a killing but more than I make in a year, and enough for me to pay off all my debts and still have savings. Over the years, I struggled financially as a single mom, so this change makes me very happy. Not having to maintain a house takes a big burden off of me. All of my money has been tied up in my house, which is why I decided to sell.

 

I feel that I'm now at a crossroads and more possibilities are available to me than they have been for a long time. I'm curious, if you were in my shoes, what would you do? Here are some facts about me that impact my situation/decisions:

 

- I'm in my late 50's, in great health and very active

- Because of my age, I need to be conscious of retirement needs

- My child is grown and living on his own

- I have two pets that I've had for 14 years

- I'm single and love being that way

- I have basically two careers - a full-time job as a manager, and an active real estate license

- I'm about to sign a lease on an apartment

- I LOVE to travel

- I hate working for someone else

- My sister and I have plans to open a retail shop, and are currently looking for an investor; this may or may not pan out

- I will be paying off my car, selling it, and plan to buy an SUV

 

I could take a chance and go into real estate full-time but I feel this is risky at this stage of my life. If I make about $30-$40k on any upcoming deals, I would consider this option more seriously.

 

The apartment I'm about to move into is located in a gorgeous town where it has literally hundreds of miles of connected trails. It's very wooded and elegant. I will be within walking distance of the town center, the mall, a lake, and lots of restaurants. My sister will be moving into the same apartment complex as me. I'm really looking forward to all of these things.

 

I'm just wondering if there's something I'm not thinking of; something that others would say, "Dang, if I were in your shoes, I'd..."

 

Your thoughts?

[d0nnivain]

Congrats on this new stage of your life.

 

 

I would stash away 1 year's worth of living expenses & then start educating myself about being an entrepreneur. Meet with advisors at your local SBDC and SCORE.org. Read books on opening your own business.

[bathtub-row]

Thank you, d0nnivain! I'm really excited. I come from a whole family of entrepreneurs and my sister owned a retail shop for years. The thing that's holding us back with opening another one is getting the funds. We have a few options and are looking into them. I used to read up on entrepreneurial things pretty often but admit that I've gotten away from it. Thanks for the reminder!

Edited April 10, 2016 by bathtub-row

[bathtub-row]

Btw, I like the SCORE site. I never knew about that. Thanks!