Thinking about starting my own part time consulting business (insurance related). What would you think the chances are for this to be a success in NOVA? I have 30 years experience but I'm only 53. I've been retired now for 2 years and I'm getting bored. I have a pension and savings now and will start drawing out of my 401k in a couple years so money isn't an issue.

Eager Beaver Wrote:
-------------------------------------------------------
> Thinking about starting my own part time
> consulting business (insurance related). What
> would you think the chances are for this to be a
> success in NOVA? I have 30 years experience but
> I'm only 53. I've been retired now for 2 years and
> I'm getting bored. I have a pension and savings
> now and will start drawing out of my 401k in a
> couple years so money isn't an issue.


I would rather be bored than knowing I have to do some work(full or part time) even if it was my own business. Dealing with customers, doing paperwork, filing this or that.

DUDE..........SCREW IT! YOU SAY YOU HAVE ENOUGH MONEY SO GO TRAVEL OR GO GET SOME HOT WOMEN TO TOTE AROUND UNTIL YOU BANG THEM. YOU DID YOUR TIME NOW GO ENJOY YOURSELF!

YdE4d Wrote:
-------------------------------------------------------
>
>
> I would rather be bored than knowing I have to do
> some work(full or part time) even if it was my own
> business. Dealing with customers, doing
> paperwork, filing this or that.
>
> DUDE..........SCREW IT! YOU SAY YOU HAVE ENOUGH
> MONEY SO GO TRAVEL OR GO GET SOME HOT WOMEN TO
> TOTE AROUND UNTIL YOU BANG THEM. YOU DID YOUR
> TIME NOW GO ENJOY YOURSELF!


Unfortunately I have the wrong DNA for that. My dad worked full time until he was 73. Seriously, this is going to be 20 hours a week at best and on my schedule. I have a friend doing basically the same think in California and he's making $125/hr.

I'm already traveling a lot. Not much extra banging though (married)

Go out and assist with something to help others less fortunate.

Eager Beaver Wrote:
-------------------------------------------------------
> Thinking about starting my own part time
> consulting business (insurance related). What
> would you think the chances are for this to be a
> success in NOVA? I have 30 years experience but
> I'm only 53. I've been retired now for 2 years and
> I'm getting bored. I have a pension and savings
> now and will start drawing out of my 401k in a
> couple years so money isn't an issue.

asians have taken over already. check where your local auto insurer office is, it's a local asian who'd try to get you to switch to them rather than stick with the company you had chosen

also some insurers you try to find on google: are on the map in the middle of a park or at a hotel (are bogus)

i'm assuming they got the "loans" to start these businesses from asian gov accountants in annandale/alex.

probably insurers are somehow subsidized by the FEDS to offer lower than cost prices - to keep small competitors away. in the 80's there were many complaints of big business attacks on small business. in the "no regulations" obama.gov era - i'm sure it's as bad or worse

XcCGE Wrote:
-------------------------------------------------------
>
> asians have taken over already. check where your
> local auto insurer office is, it's a local asian
> who'd try to get you to switch to them rather than
> stick with the company you had chosen
>
> also some insurers you try to find on google: are
> on the map in the middle of a park or at a hotel
> (are bogus)
>
> i'm assuming they got the "loans" to start these
> businesses from asian gov accountants in
> annandale/alex.


> probably insurers are somehow subsidized by the
> FEDS to offer lower than cost prices - to keep
> small competitors away. in the 80's there were
> many complaints of big business attacks on small
> business. in the "no regulations" obama.gov era -
> i'm sure it's as bad or worse

Thanks for the response but this virtually nothing to do with the business I'm looking to start. I'm not going to get into details for fear of someone stealing my idea, but rest assured I'm not selling insurance.

Nobody can answer your question at that general of a level.

I was forced to do it when the company that I was working for went under but started my own single-person company about 15 years ago. It's not the easiest thing that you'll ever do. Definitely much harder than just working for someone else. That said, no regrets at all and I've done well. Seemed terrible at the time, but really the best thing that could have happened.

Never know unless you try it. I never would have done it unless I'd had to. Lots of money around here and tech these days make it more possible than it ever has been. Everything that I do is with remotely located vendors and +90% of my customers are out of this area. I couldn't have done what I do in the same way 20 years ago.

Do something interesting, and low maintenance that you don't gave to "take home". For instance, I plan to work at a hardware store when I retire, helping people find things and answering DIY questions.

Eager Beaver Wrote:
-------------------------------------------------------
> Thinking about starting my own part time
> consulting business (insurance related). What
> would you think the chances are for this to be a
> success in NOVA? I have 30 years experience but
> I'm only 53. I've been retired now for 2 years and
> I'm getting bored. I have a pension and savings
> now and will start drawing out of my 401k in a
> couple years so money isn't an issue.

Do some substitute teaching or teach some courses as a college professor. That would keep your load light, bring in a few extra bucks, and wouldn't put your investment at risk.

I only >wish< I could retire.....



Edited 1 time(s). Last edit at 08/13/2015 02:46PM by Hondo.

I cannot imagine getting up in the morning 7 days a week, 52 weeks a year without having SOMETHING to do. The problem with doing your own business though is that if you want it to be a success you won't be able to truly be part time. You work when your customers need for you to work...and customers have a surprising ability to come to you last minute needing it done yesterday but willing to settle for getting it at 9:00 the next morning. In addition there is a bunch of admin stuff that comes with running your own business, including the need to compute and pay quaterly taxes on your income. If part time is really what you are looking for, you might be better off working for someone else.

Start hanging out at one of the Casinos that are within easy driving distance of Northern Virginia.

It will take care of the too much time/money on your hands issue.

Eager Beaver Wrote:
-------------------------------------------------------
> YdE4d Wrote:
> --------------------------------------------------
> -----
> >
> >
> > I would rather be bored than knowing I have to
> do
> > some work(full or part time) even if it was my
> own
> > business. Dealing with customers, doing
> > paperwork, filing this or that.
> >
> > DUDE..........SCREW IT! YOU SAY YOU HAVE
> ENOUGH
> > MONEY SO GO TRAVEL OR GO GET SOME HOT WOMEN TO
> > TOTE AROUND UNTIL YOU BANG THEM. YOU DID YOUR
> > TIME NOW GO ENJOY YOURSELF!
>
>
> Unfortunately I have the wrong DNA for that. My
> dad worked full time until he was 73. Seriously,
> this is going to be 20 hours a week at best and on
> my schedule. I have a friend doing basically the
> same think in California and he's making $125/hr.
>
>
> I'm already traveling a lot. Not much extra
> banging though (married)


I'm sure you are an insurance wiz, a real dynamo.

Have you ever thought of being a Uber driver? Hours flexible, as a rider here and there, learned from the drivers that they keep about 2/3 of every fare they collect. You do need a car 2005 or newer, well maintained and clean, requires reasonable English proficiency in DC Metro area (out western USA, few cities Spanish language supported), though some drivers may be fluent in other languages (so far I have had, white manager from pizza chain restaurant looking for extra income, oriental retiree from golf course community looking for extra income, drivers from Ghana (2nd job) and Nepal all spoke English well, very nice prim and proper African American lady, a couple of Middle Eastern drivers-one older gentleman wish could have given a 6.0 rating and a friendly guess 30's age). Only riders you can pick up is those who have hailed you with smartphones which is the way you hail the service and uses GPS tracking (security measures in place including driver background check, rider gets your car model, license plate #, your first name, and a picture of you, and I know the driver gets at least the passenger's first name besides seeing the passenger's GPS location or exact street address, if need to call driver or driver to locate you such as at Vienna Metro, phone numbers are annonymized at both ends). Drivers strive hard to get a 5 star rating (if they get two many low ratings, they are no longer a driver with the service), they are polite, and willing to talk if you wish to talk during the ride. They also show up in less than or around 10 minutes (yesterday morning 7 minutes, for example). No transportation service is absolutely perfect, but ask others who have also used the service, I can honestly say after several trips, I could give no driver lower than a 4.x rating, and a couple of the drivers I wish I could have given a 6.0 rating. Depending on where you are driving, you can have higher demand (for example, Wiehle Reston is high demand area during peak periods and as a driver you can collect more then with surge pricing). There is more than one level of service, UberX is mostly what I have used, great value compared to a traditional taxi, and does not require quite as nice of car. Higher levels of Uber service require a nicer car, but you collect a lot more in fares, and if you have a better car, you can drive at more than one level. Also no money exchanges hands during the trip (billed to major credit card prearranged (I do); or can somehow do tap and pay, not figure that one out myself), tips not required/optional, I offer, some drivers accept, some not. I even had one very nice lady driver to the airport last month ($33.50 from western Fairfax to Reagan National with UberX). I did use the UberXL service once from Wiehle-Reston area (very nice SUV), Metrorail was absolutely having a horrible day and there was very high demand, and that cost me about the same for close to a 10 mile trip, but needed to return home quick. The service can give a better value to riders and drivers by not having a call center paying reps to dispatch rides. Go to https://www.uber.com/ for more info as either a driver or a rider.

One word of advice as a Uber rider. Make sure your Google Maps address location is correct (if you choose to use an address rather than just your GPS location). You can also use a business name to hail the Uber if you are being picked up from a commercial location. If you or your driver have trouble locating each other, option on your smartphone with the Uber app for you to call the driver (Vienna Metro good example, single bus shelter in the north side park/kiss and ride lot) or the driver can call you (especially when you see on the GPS map on your phone while the driver is enroute that he/she is lost in your neighborhood).

Go to here on instructions how to correct it more quickly in Fairfax County with Google Maps
http://www.fairfaxunderground.com/forum/read/2/1946756.html (link to Fairfax County government countywide address locator on map)
Also including your community association or apartment contact/email does not hurt either to do, if you have one. Otherwise, you are waiting for weeks or longer for Google to get other user reports to confirm your location, unless you get all of your neighbors to submit an address correction to Google Maps right away.

This is the only issue I have had to use Uber email support to resolve, but they are quite responsive. The Uber driver say their database is updated once a week, once they have the updated information from Google Maps.

carWFx Wrote:
-------------------------------------------------------
> Have you ever thought of being a Uber driver?
> Hours flexible, as a rider here and there, learned
> from the drivers that they keep about 2/3 of every
> fare they collect. You do need a car 2005 or
> newer, well maintained and clean, requires
> reasonable English proficiency in DC Metro area
> (out western USA, few cities Spanish language
> supported), though some drivers may be fluent in
> other languages (so far I have had, white manager
> from pizza chain restaurant looking for extra
> income, oriental retiree from golf course
> community looking for extra income, drivers from
> Ghana (2nd job) and Nepal all spoke English well,
> very nice prim and proper African American lady, a
> couple of Middle Eastern drivers-one older
> gentleman wish could have given a 6.0 rating and a
> friendly guess 30's age). Only riders you can
> pick up is those who have hailed you with
> smartphones which is the way you hail the service
> and uses GPS tracking (security measures in place
> including driver background check, rider gets your
> car model, license plate #, your first name, and a
> picture of you, and I know the driver gets at
> least the passenger's first name besides seeing
> the passenger's GPS location or exact street
> address, if need to call driver or driver to
> locate you such as at Vienna Metro, phone numbers
> are annonymized at both ends). Drivers strive
> hard to get a 5 star rating (if they get two many
> low ratings, they are no longer a driver with the
> service), they are polite, and willing to talk if
> you wish to talk during the ride. They also show
> up in less than or around 10 minutes (yesterday
> morning 7 minutes, for example). No
> transportation service is absolutely perfect, but
> ask others who have also used the service, I can
> honestly say after several trips, I could give no
> driver lower than a 4.x rating, and a couple of
> the drivers I wish I could have given a 6.0
> rating. Depending on where you are driving, you
> can have higher demand (for example, Wiehle Reston
> is high demand area during peak periods and as a
> driver you can collect more then with surge
> pricing). There is more than one level of
> service, UberX is mostly what I have used, great
> value compared to a traditional taxi, and does not
> require quite as nice of car. Higher levels of
> Uber service require a nicer car, but you collect
> a lot more in fares, and if you have a better car,
> you can drive at more than one level. Also no
> money exchanges hands during the trip (billed to
> major credit card prearranged (I do); or can
> somehow do tap and pay, not figure that one out
> myself), tips not required/optional, I offer, some
> drivers accept, some not. I even had one very
> nice lady driver to the airport last month ($33.50
> from western Fairfax to Reagan National with
> UberX). I did use the UberXL service once from
> Wiehle-Reston area (very nice SUV), Metrorail was
> absolutely having a horrible day and there was
> very high demand, and that cost me about the same
> for close to a 10 mile trip, but needed to return
> home quick. The service can give a better value
> to riders and drivers by not having a call center
> paying reps to dispatch rides. Go to
> https://www.uber.com/ for more info as either a
> driver or a rider.

See a few grammatical errors in my post. Have not had AM caffeine this early yet.

I will be retiring next year at 56 and moving away. Trying to figure out something similar in a senior retirement area. Not much call for Uber there. I think I will try and do something that I do not take home with me, which rules out my own business.

If anyone wants to retire or is retired, go ahead and drop a fire mixtape. You will not be a nog, certified.

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