Author Topic: I need some income  (Read 7212 times)

Paddy

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I need some income
« on: September 25, 2007, 09:32:03 PM »
I've been off work for over two years now.  My parents both died early 2005. I spent a year dealing with estate and probate issues, then I got sick, which lasted for another year.  I'm all better now, and have absolutely nothing to do.   In my previous life, I was a corporate accountant and asset manager.  Before that, I freelanced, serving in capacities from interim controller to seasonal tax preparer.   I have a BS in Business Administration with a major iin Accounting from a California State University, back in the '70's.

I have a Real Estate license, which I've used in the past to sell houses and mortgage loans, and manage rental properties.  Also have a license to sell insurance (Life Agent only) which I've never used.

Nobody will hire me because of my age (61) and my previous history of cancer.  I have no intention of drawing social security next year at age 62.  I fully intend to remain active and productive until some disability overtakes me.  I pay my own health insurance premiums, and have no debt.

What can I do to generate some income?  I'm willing to invest up to 50k, maybe more, depending on the opportunity, and will reward a successful idea with cash.

Thanks for your help.


Euclidean

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Re: I need some income
« Reply #1 on: September 26, 2007, 12:44:05 AM »
Riles I hate to say it but are you willing to relocate?  Might be necessary to expand the job search.  Also food for thought, I don't know what part of Kommieforny are you in and do you happen to be so lucky as to own a house?  A lot of folks from the SoCal and Mass areas could make a killing selling their $300k homes and buying that same house for $165k basically anywhere else in the country and pocketing the difference.

I'm working on what's essentially the same degree you currently hold, and I have every confidence in the world I will wind up in some God forsaken place if I try to use it once I get it.

Crazy idea:  are you in a position to get a PhD?  Hear me out on this.  You obviously have a long track record of experience, and in some places especially at some of the smaller universities they're clamoring for professors in accountancy and business who have actual experience in finance and/or industry.  Most of my profs were in their late 50s when they took the professing gig, 61 wouldn't be unusual at all.  Just a thought. 

Or how about the CPA exam?  Granted you'd be underemployed as a staff accountant but thanks to the gov't boondoggle in accounting act of 2002, auditors are needed. 

Yeah I wouldn't want to do work like that either for my first choice, don't blame you if you don't want to go there.

Crazier idea: being underemployed sucks but it's MUCH better than being unemployed.  It keeps your mind together, and it's a little something coming in at least.  I know a lot about this...

I know it's a hell of a lot easier to say all this than to actually come up with anything that might help you out.

onions!

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Re: I need some income
« Reply #2 on: September 26, 2007, 02:32:21 AM »
You're around San Diego right?

Well shoot man!Become a "coyote"!

Strictly a cash business(I'm sure that w/your background you know how to wash your $$$),you'll meet lots of interesting people,& it'll be a lot more interesting than a desk job!

Get out & enjoy the fresh air!

 angel

Laurent du Var

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Re: I need some income
« Reply #3 on: September 26, 2007, 02:42:37 AM »

What can I do to generate some income?  I'm willing to invest up to 50k, maybe more, depending on the opportunity, and will reward a   s u c c e s s f u l  idea with cash.

Thanks for your help.



How about you come to the south of France and we'll open an English bookshop/
artgallery ?
You'd make no money and lose what you'd have invested and I
wouldn't ask you a reward....
The Côte d'Azur is weatherwise the same as California, the mediterrenean sea is way nicer and cleaner than the pacific ocean and the region is just a little more despised by your fellow Americans than yours and there is good wine here and there.
Oh by the way the social security including all costs for healthcare
in France for a businessowner is around 600 $ a month, you do the math.
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jeepmor

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Re: I need some income
« Reply #4 on: September 26, 2007, 03:35:57 AM »
Can't you get your CPA license and start a tax firm.  Real busy from January through April. after that, it's golf season or whatever it is you fancy for the most part.  I'm not very well versed in this field and don't know the licensing requirements at all.  Please forgive my ignorance on this subject.

I'd say come to Oregon and invest in a Brewpub with me and some buds, but that's a ways out for us still and just an idea we happen to be kicking around.  Had I done that out of college, I'd have several by now.   Back in 92 they were not everywhere much like they are now.  I'd personally like to find some sleepy little small ski resort town and put one up at the base or in the town down from the hill.  We would need a good money guy.

I think all other guy and myself would have at least $50k each to put into this idea in a small town West of Portland called North Plains.  It's about the only town left in the Portland Metro area that has not been overrun by development just yet.
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Harold Tuttle

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Re: I need some income
« Reply #5 on: September 26, 2007, 04:17:38 AM »
I recommend tossing some keywords & a zipcode at

www.indeed.com
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charby

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Re: I need some income
« Reply #6 on: September 26, 2007, 04:22:59 AM »
Related to high fuel and vehicle costs...

I've been wondering if opening a shop that sells Chinese made gas scooters would be a smart decision, I see them sell on Ebay for $500-$1000 and I bet you could buy them a lot cheaper by the the shipping container from China.

http://www.made-in-china.com/products-search/hot-china-products/Scooter.html
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grampster

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Re: I need some income
« Reply #7 on: September 26, 2007, 04:37:26 AM »
If you're still licensed in insurance, why not look around for an older independent agent who's looking for a buy in, or to sell his/her agency?  Independent agents are independent contractors here in Michigan.  Is that not the way of things in California?

Aren't realtors independent contractors?  We have several firms her in Michigan that provide space/tools for realtors for a fee.  Although the last house that sold in Michigan was last January.

If you like travel, buy a sleeper cab and haul freight.  OVR truckers are in high demand.  As an owner/operator, your age and health are not an issue.

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AJ Dual

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Re: I need some income
« Reply #8 on: September 26, 2007, 06:17:48 AM »
That's sort of what I was thinking too.

It seems to me that all the tax, accounting, and real-estate type things are ones that could all be done on a 1099 or comission-only basis. Have you been up front with the age and health issues and offered your services to any agencies or firms that way?
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Paddy

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Re: I need some income
« Reply #9 on: September 26, 2007, 06:23:17 AM »
Not willing to relocate (should have included that in the OP).  Our home is in an area with great weather and scenery, clean air, not too many people, and very little crime.  Living conditions are a huge component of total quality of life, and this is near ideal.

On the CPA thing, I know a guy who as a high school teacher in his 40's decided he wanted to be a CPA.  He earned an accounting degree and passed the CPA exam. Part of the licensing requirement is a 2 year 'internship' with a CPA firm, but nobody would hire him! 

On the coyote thing, no hablo espanol  :

Quote
the region is just a little more despised by your fellow Americans than yours

Laurent, that's hilarious! 

The Brewpub could work if the location is right, but the food and beverage business can be tricky.  Sometimes your landlord makes more than you do.

http://www.indeed.com/  That's a great link. Thanks!

Don't know about the made in China scooters.  Who is the target market?  But, something along those lines -buying, importing, middlemanning, then selling might be just the ticket.  That's the way a lot of ebay sellers work, right?  They have no inventory, they just take orders for stuff, buy it from somebody else, mark it up and sell it?

I got involved with Primerica a few years back, which is why I have the insurance license.  Never did anything with it or Primerica because I didn't like the way they operate; they're somewhat less than honest.  The higher ups on the food chain make their money not only from overrides, but mainly from  the 'sphere of influence' of new people.  IOW, they want to sell all your friends and relatives life insurance, mutual funds and annuities. 

All good ideas. Thanks! keep 'em coming.   smiley

Euclidean

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Re: I need some income
« Reply #10 on: September 26, 2007, 07:24:46 AM »
I had another thought.  For most people this would probably only end in tears, but if you're in need of something anything for money, you sound like you have the expertise to pull it off:

Franchise business.

You have the real estate experience so you could probably find the right place at the right price, and unlike most franchisees I've ever met you actually know how a business is supposed to run itself.  (Note that I've met successful franchise owners who have no formal business training or experience whatsoever they just bust their butts to make it work!)

The only catch is the startup cost.  I bet it would be ridiculously high in CA.

charby

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Re: I need some income
« Reply #11 on: September 26, 2007, 07:29:45 AM »
Quote
Don't know about the made in China scooters.  Who is the target market?  But, something along those lines -buying, importing, middlemanning, then selling might be just the ticket.  That's the way a lot of ebay sellers work, right?  They have no inventory, they just take orders for stuff, buy it from somebody else, mark it up and sell it?

Anyone who wants cheap transportation
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Paddy

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Re: I need some income
« Reply #12 on: September 26, 2007, 07:40:59 AM »
Quote
It seems to me that all the tax, accounting, and real-estate type things are ones that could all be done on a 1099 or comission-only basis. Have you been up front with the age and health issues and offered your services to any agencies or firms that way?

Yes.  I live in a semi-rural area with mostly sole proprietor mom and pops, vineyards and wineries,and a bunch of retail chain stores and restaurants.  The largest employers are county and state governments.  No major business headquarters so that kind of freelancing would require at least temporary relocation.  I'm not willing to live in a motel and eat restaurant food for weeks/months on end.

I do (or did until I underwent cancer treatment right at the beginning of the 2006 tax season) seasonal tax work.  I was a one man show, working out of an office at home.  Between the surgery and the radiation, I was too sick to work for several months.  I don't ever want to put clients or myself in that position again.

That leaves some kind of regular 9-5 job as an employee. I've circulated my resume and get callbacks and some interviews. There's interest until they ask what I've been doing for the past two years, then disappointment is obvious when I mention the "C" word.   Next time, I'm going to just say 'I was sick for awhile', and see what happens.

I'll probably wind up 'underemployed', as Euclidean says, and that's ok too, provided the working conditions aren't awful.  I won't work for dishonest aholes anymore. BTDT.   I have friends who've been on the same job for 20, 25, 30 years and are (for the most part) completely miserable.  They can't wait to retire and are counting the days.  I suppose there's some value in job longevity and security (most work for county or state government), and a secure pension.  Can't see being unhappy for the entire workweek, then spending Sunday dreading Monday morning, for years on end.

The other possibility is some sort of business but I haven't been able to figure out what. 

Brad Johnson

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Re: I need some income
« Reply #13 on: September 26, 2007, 09:21:45 AM »
Income on what scale?

Brad
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Gewehr98

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Re: I need some income
« Reply #14 on: September 26, 2007, 09:36:51 AM »
You could be a dietician.  grin
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meinbruder

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Re: I need some income
« Reply #15 on: September 26, 2007, 09:56:21 AM »
I can recommend something NOT to do.  Notary Signing Agent, I handle loan documents for a variety of lenders.  Ive been doing this for four years, I love the work; drive around and meet interesting people, see nice homes, and make a tidy fee for anywhere from 30 to 60 minutes work.  What I dont like is the on-call aspect of it, I cant plan on doing anything except wait for my phone to buzz with an appointment. 

Traffic in the Portland metro area has become so miserable that I dont even take a third of the closings because of commute times.  That tidy fee doesnt mean much when it takes four hours round trip to make it.  This gig would make a nice retirement supplement but not much of a living.  My under employment is wrecking my marriage and Im not sure I care. 
}:)>


I'll probably wind up 'underemployed', as Euclidean says, and that's ok too, provided the working conditions aren't awful.  I won't work for dishonest aholes anymore. BTDT.   I have friends who've been on the same job for 20, 25, 30 years and are (for the most part) completely miserable.  They can't wait to retire and are counting the days.  I suppose there's some value in job longevity and security (most work for county or state government), and a secure pension.  Can't see being unhappy for the entire workweek, then spending Sunday dreading Monday morning, for years on end.

The other possibility is some sort of business but I haven't been able to figure out what. 
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}:)>

Paddy

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Re: I need some income
« Reply #16 on: September 26, 2007, 10:13:26 AM »
Quote
Income on what scale?

Brad

Not a whole lot; +- 50k

charby

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Re: I need some income
« Reply #17 on: September 26, 2007, 11:41:40 AM »
Quote
Income on what scale?

Brad

Not a whole lot; +- 50k

$50K per year is a lot...   

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Monkeyleg

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Re: I need some income
« Reply #18 on: September 26, 2007, 12:18:42 PM »
Riley, are you sure there aren't some smaller accounting outfits you could work for? The accountant I use has several people working in his office, and most of them are older. One woman is in her 70's.


Paddy

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Re: I need some income
« Reply #19 on: September 26, 2007, 12:38:23 PM »
That would be about perfect.  I thought I was there just a few days ago when a firm called in response to my resume.  We were having a fine conversation until I answered the question "what have you been doing the last 2 years?"  After the "C" word, there was only the sound of crickets chirping.  Never even got an interview.

Euclidean

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Re: I need some income
« Reply #20 on: September 26, 2007, 12:40:33 PM »
Quote
Income on what scale?

Brad

Not a whole lot; +- 50k

$50K per year is a lot...   



It is, but in the ideal situation he's probably actually qualified to make twice that amount.

Paddy

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Re: I need some income
« Reply #21 on: September 26, 2007, 12:55:31 PM »
Quote
It is, but in the ideal situation he's probably actually qualified to make twice that amount.


Only if I got lucky and were in a large metro area.  Most probably though the lack of a CPA certificate would keep me away from 6 figures.  That amount would be unreachable around here; most small business owners don't earn that much themselves.  Plus, this is a college town with plenty of cheap labor.  laugh

Big_R

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Re: I need some income
« Reply #22 on: September 26, 2007, 12:56:49 PM »
It's too bad you're not willing to travel because the whole Sarbanes-Oxley thing created a tremendous market for accounting auditors.  Most corporations use a third party agency to run their compliance audit.  With your experience, that seems like a possible fit.  Try an internet search for accounting auditor jobs.

Ryan

Brad Johnson

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Re: I need some income
« Reply #23 on: September 26, 2007, 12:57:07 PM »
Quote
college town


There's your source of income.

Brad
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RadioFreeSeaLab

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Re: I need some income
« Reply #24 on: September 26, 2007, 12:59:25 PM »
What? Harvesting the organs of college kids?