In my last 5 year plan, so far almost nothing I have envisioned has happened. So now with my daughter added to the mix, I thought that we needed a new 5 year plan.
Year 1 - Keep building the business and merge with a strategic partner.
We are pretty much stuck on the same profit level we were 2 years ago. The IT market has been very slow, and I am not sure when it will rebound again. I thought that I would expand but I obviously chose the wrong time to do it, so we will scale back, keep a tight reign on expenses and build cash for a the next 1-2 years.
Year 2 - Watch for a rebound in the IT market
Year 3 - I would expect by now that the cyclical slowdown should have ended by now and we should get ready for expansion. We should be flush with a few million in cash by this point and should have the flexibility to expand.
Year 4-5 - I am waiting to get $4,000,000 cash in my investment account. I am expecting that I would reach this amount by then. Once I get this amount in Vanguard Admiral Shares of the S&P 500, then I will officially retire. If I need to sell off some of the businesses to reach the $4,000,000 million cash, I will do so in year 4-5.
At least that is the goal, I would guess that I have a 50-50 chance of reaching these goals.
During retirement we will move to somewhere warm. I am unsure where, but so far I have these destination in mind:
Key West FL
San Diego CA
Of course it would all depend on finding great schools for Priya since she is the number 1 priority.