EdwardJake
Aug 10, 2012, 03:50 AM
Hi,
I am a 54-year-old male. I am single. I've never married. So, no children.
I have worked most of my life as a purchasing agent in the USA. About 4 years ago, I quit my job, because I just couldn't handle the dysfunction and mismanagement of the company I worked for. Since I had a little savings, I started my own bookkeeping practice. It was just me providing QuickBooks help for small business owners.
I found out that people trusted me and either became my client or referred me to potential clients. Meanwhile, my father gave me a pretty large sum of money as a gift, about $200K. So, I felt very secure and optimistic about building my practice.
But, I wasn't very aggressive about going after new clients. I had this fear that I would fail in providing my services to them. That I would embarrass myself by not measuring up to what they expected of me.
So, my business comprised of only those clients who were easy to get, through referrals and word of mouth. Through the next three years, I made a total of $60k ($20k per year). Meanwhile, my expenses were around $100K per year. I foolishly rented an office, hired a business coach, and just wasn't very careful about spending my money.
My savings started dwindling. In January, 2011, I visited my father in my birth country in the Middel East. When I left to go back to the States, he called me and said one of us needs to be there with him, so that if something happens to him, he would not be alone. I have two wonderful sisters and a beautiful mother in the States and my father is by himself in my birth country. He's 84 years old. He's pretty much estranged himself from all his friends and even though my mother and him still communicate regularly, they live separate lives because they never were a good match for each other. Both my sisters have family and I'm the only free and flexible "child".
He promised that he will get me involved in his charity work, buy me an apartment, and basically create a very nice life for me when I go there.
With my practice not generating enough income, I saw this as an opportunity to not only change my life for the better, but to also be of some value to my father and the rest of my family, by being there in case something happened to my father and taking care of his affairs.
As soon as I arrived in my birth country, I realized that he had changed his attitude. He started acting like he was doing me a favor. He refused to buy me an apartment and kept complaining that the only reason I went there was because I had run out of money. He constantly scolded and criticized me for not being able to generate income in. Meanwhile, the few nights a week when I would go to have dinner with him, there would almost always be some young woman (in their 20's) there as well. Obviously, they were there because he was giving them money in return for their company. I don't think there was anything sexual going on, but these girls were obviously getting financial benefits form being there. So, even the times I would spend with him were not quality times.
He basically was happy paying my hotel bills and giving me pocket money. And, even then, he would do these things with a lot of scorn and disapproval.
I had rented out my only asset, a condo in the US, so I had rental income coming into my US account. But, my expenses still were larger than this income (mortgage, health insurance, HOA, property tax, and credit card payments). He had promised to pay for my US shortages too, but that didn't happen either.
It's been 13 months now that I have lived in my birth country and I can't handle it anymore. Life here is tough with all the sanctions. Traffic is horrible, economy is going down, and the internet is extremely restricted. I really miss the small technolgical, consumer, and social freedoms and advancements in the US. I have decided to move back. That means I will need to sell my condo. So, I will lose the only asset I have by turning it into cash. My first experience with my bookkeeping practice was a failure. I can look for a job, but at 54, what are my chances? I am determined to make this move back, because I can't handle being financially dependent on anyone anymore.
But, I am scared that I will not be able to make enough income in the States and will lose my last money. Then what?
Thanks in advance for any feedback, suggestions, help, support, etc.
I am a 54-year-old male. I am single. I've never married. So, no children.
I have worked most of my life as a purchasing agent in the USA. About 4 years ago, I quit my job, because I just couldn't handle the dysfunction and mismanagement of the company I worked for. Since I had a little savings, I started my own bookkeeping practice. It was just me providing QuickBooks help for small business owners.
I found out that people trusted me and either became my client or referred me to potential clients. Meanwhile, my father gave me a pretty large sum of money as a gift, about $200K. So, I felt very secure and optimistic about building my practice.
But, I wasn't very aggressive about going after new clients. I had this fear that I would fail in providing my services to them. That I would embarrass myself by not measuring up to what they expected of me.
So, my business comprised of only those clients who were easy to get, through referrals and word of mouth. Through the next three years, I made a total of $60k ($20k per year). Meanwhile, my expenses were around $100K per year. I foolishly rented an office, hired a business coach, and just wasn't very careful about spending my money.
My savings started dwindling. In January, 2011, I visited my father in my birth country in the Middel East. When I left to go back to the States, he called me and said one of us needs to be there with him, so that if something happens to him, he would not be alone. I have two wonderful sisters and a beautiful mother in the States and my father is by himself in my birth country. He's 84 years old. He's pretty much estranged himself from all his friends and even though my mother and him still communicate regularly, they live separate lives because they never were a good match for each other. Both my sisters have family and I'm the only free and flexible "child".
He promised that he will get me involved in his charity work, buy me an apartment, and basically create a very nice life for me when I go there.
With my practice not generating enough income, I saw this as an opportunity to not only change my life for the better, but to also be of some value to my father and the rest of my family, by being there in case something happened to my father and taking care of his affairs.
As soon as I arrived in my birth country, I realized that he had changed his attitude. He started acting like he was doing me a favor. He refused to buy me an apartment and kept complaining that the only reason I went there was because I had run out of money. He constantly scolded and criticized me for not being able to generate income in. Meanwhile, the few nights a week when I would go to have dinner with him, there would almost always be some young woman (in their 20's) there as well. Obviously, they were there because he was giving them money in return for their company. I don't think there was anything sexual going on, but these girls were obviously getting financial benefits form being there. So, even the times I would spend with him were not quality times.
He basically was happy paying my hotel bills and giving me pocket money. And, even then, he would do these things with a lot of scorn and disapproval.
I had rented out my only asset, a condo in the US, so I had rental income coming into my US account. But, my expenses still were larger than this income (mortgage, health insurance, HOA, property tax, and credit card payments). He had promised to pay for my US shortages too, but that didn't happen either.
It's been 13 months now that I have lived in my birth country and I can't handle it anymore. Life here is tough with all the sanctions. Traffic is horrible, economy is going down, and the internet is extremely restricted. I really miss the small technolgical, consumer, and social freedoms and advancements in the US. I have decided to move back. That means I will need to sell my condo. So, I will lose the only asset I have by turning it into cash. My first experience with my bookkeeping practice was a failure. I can look for a job, but at 54, what are my chances? I am determined to make this move back, because I can't handle being financially dependent on anyone anymore.
But, I am scared that I will not be able to make enough income in the States and will lose my last money. Then what?
Thanks in advance for any feedback, suggestions, help, support, etc.