Tim,there are many ways to look at things,with a million cash in the bank,you can use the money as collateral to invest in a new business,live off the interest or buy a 600,000 house,80,000 car and a 100,000 boat,then work part time just to make extra money to travel on,and pay utilities,to me that would be retirement,i know people who make millions a year and spend so much money they cant afford to retire,its all relative,i dont want to be the richest man in america i just want security. to know that everything i need to live is paid for and asset protected.
i know a gentleman who owns a drywall company in maryland that employees 15 people that generates 1mill in annual sales and the owner only takes home 100k and was bragging that it was his best year,to me thats just not worth it to run a business of that caliber,our sales are somewhat a meager 200k as compared to others but our net profit is 50%. im sure this number can be debated into a thousand different arguments,we run things very efficiently,management is tight,we do everything in house and manufacture our own cleaning products, and do not waste any of our resources,our productivity is high,and our market is focused,if i cant grow and keep profit magins at the same percentage,i see no reason to deal with the extra effort.
i belive in high profit margins not gross sales numbers. thats just what i been taught. 80/20.
maybe in a couple more years i will see things differently,i know i see things more differently now than i did 2 years ago.