Financially speaking, my life has taken ebbs and flows of successes and failures. I've learned a lot from those highs and lows as I've journeyed through my life, now looking back at the ripe old age of 51. Some of these circumstances were from poor decisions, and some just happened naturally and were beyond any control I had to keep them from going sour. However, there was one move I made that was probably the best thing I did for myself and my future family even though it was rather bittersweet for me personally.
My Retail Health Food Business
In my thirties before beginning a family, I was married to my ex-husband. We began a retail health food store called Natural Resources and it was a success due to it's location and the fact that health foods in general was a hot business to get into back then. We had a good clientele built up and the fact that it was in a busy mall with craft fairs and other events, made our business even more successful. It was a great time in my life and the fact that it was so lucrative afforded me a lot of things I couldn't otherwise have done, things like nice vacations and property.
My divorce from my husband created a large problem where this business was concerned. We were not sure how to proceed with the business, but after lots of discussion, tears and shouting matches, we decided that I should be bought out of the business, to leave complete ownership of the business with my ex-husband. I wasn't sure this would all work out, but it really did and turned out to be the best financial move I could have made. So we moved forward with allowing him to buy me out of the business.
Walking away from the entire business along with our properties was the best thing I could have done for myself and my future. I was able to establish myself financially again on my own, and went on to remarry and start my current large family with a nice nest egg from that financial move. As it turned out, being bought out of the health food store was the best decision based on the fact that my ex-husband ended up failing at the business and acquired lots of tax debt as a result. Tax debt that I would've been half responsible for had I stayed on as a business partner. I couldn't have been happier with my decision once I saw all of the tax problems I would've otherwise ended up with.
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