As my parents(seniors) anticipate my entry into the family business this year, with the expectation that I will resign from my current position, How did you navigate a similar shift, and what insights or advice do you have for someone making this transition?
Plus my concern lies in the significant shift in my current lifestyle (since nasa comfort zone me), where my role on our family business setup could impact both my personal time and my relationship with my wife.
And naming thoughts on my head and super overwhelm (turning to analysis paralysis) What did you guys do? Also I want to validate things.
For more info & context, below are details:
About my Family business ventures:
[Build and owned and generally managed by my Dad (senior), with help of my mother(senior) booking keeping/accounting and my 2 brothers helped]
- Youngest,(M) turning 32 newly wed & starting to raise a family, Almost 9 years sa current company with stable job earning 55k with guaranteed 14 months bonus + 3 to 5 performance bonus and other benefits. (Hybrid setup and plus with setup) [Parents telling me na I can’t build wealth with my current setup]
- Have side hustle that earn around 300 to 400k/ year (depending on sale)
- I compute my asset around 6M (since some of properties are acquired by my parents is naming to Me)
- After I resign, I have a liquid cash of 1.2M (It is higher dapat pero, nag ka problem sa investment)
- Sa family business, I create and help maintain family business Fb page & online marketing
- I do help on the family business planning, permits and other LGU stuffs
Plus my concern lies in the significant shift in my current lifestyle (since nasa comfort zone me), where my role on our family business setup could impact both my personal time and my relationship with my wife.
And naming thoughts on my head and super overwhelm (turning to analysis paralysis) What did you guys do? Also I want to validate things.
For more info & context, below are details:
About my Family business ventures:
[Build and owned and generally managed by my Dad (senior), with help of my mother(senior) booking keeping/accounting and my 2 brothers helped]
- Digital service provider on 10 cities (Our duck laying golden egg)
- 1 restaurant and 1 new big event place and catering
- Agriculture: Duck farm, pig farm and rice plants
- 11 rental properties (some of them is under my name)
- Real estate (buying lot and naming to us)
- Youngest,(M) turning 32 newly wed & starting to raise a family, Almost 9 years sa current company with stable job earning 55k with guaranteed 14 months bonus + 3 to 5 performance bonus and other benefits. (Hybrid setup and plus with setup) [Parents telling me na I can’t build wealth with my current setup]
- Have side hustle that earn around 300 to 400k/ year (depending on sale)
- I compute my asset around 6M (since some of properties are acquired by my parents is naming to Me)
- After I resign, I have a liquid cash of 1.2M (It is higher dapat pero, nag ka problem sa investment)
- Sa family business, I create and help maintain family business Fb page & online marketing
- I do help on the family business planning, permits and other LGU stuffs