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by meisanother
1379 days ago
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I feel like the "leaving them a profitable business" is quite hopeful. Chances are that the business will go under by the time you want to get out of it.
Then giving the burden to your kids down the line seems even more risky. They will probably not want to follow your path and maybe having this weight on their shoulder will change their life decisions in an unfavored manner. Just my two cents, I think working for yourself is fine, but it still seems like a time-constrained endeavor. |
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What makes you think that? Obviously there is always risks associated to almost everything you do, and running a business is no exception, but I don't think most businesses follow the "go down by the time you want to get out." route.
> Then giving the burden to your kids down the line seems even more risky.
The burden of an asset? You can always sell your parent's business, for cents on the dollar in the worst case?, and you still get more than what you would get if your parents had nothing. Also cash savings and running a business are not exclusive, actually, usually people running business have more assets/cash that people working for somebody else.
> I think working for yourself is fine, but it still seems like a time-constrained endeavor.
Working for somebody else's business is also a time-constrained endeavor.
I'm not saying that everyone should be running a business, you could make the case of a VP at Amazon making way more than an indie hacker, sure, the thing is the possible amount of VPs at companies big enough with such high salaries, are the order of hundreds , in the other hand, there is thousands of people making a lot of money online, with all type of niche apps and/or services.