Let's Talk Retirement.

Discussion in 'Lets talk Business!' started by Mikey P, Dec 27, 2017.

By Mikey P on Dec 27, 2017 at 1:46 PM
  1. Mikey P
    Mikey P

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    For some an ugly subject that gets put off year after year untill it's toolate but to kid yourself

    For others it's constant thought and probably thier main hobby.

    Some of us have working wives who may be able to float the boat once our backs can no longer devastate soiled floors as owner op super heros.
    Some, few, very few actually have a business with a value that can fund our survival
    Some are fit enough to wand their way into the grave.

    And some like @Radar Foster and @Wandslinger have it figured out with enough side action that they could quit today, make a few adjustments and be fine..

    Let's talk about what your parents did, what your kids will do and most importantly, what you're doing right now.
    Matt Wood and Derrick T. like this.

Comments

Discussion in 'Lets talk Business!' started by Mikey P, Dec 27, 2017.

    1. Jim Williams
      Jim Williams

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      My Dad climbed the ladder of success with a research company and was able to pack quite a bit into mutual funds. My daughter will probably marry an Asian Dr. who makes plenty. Been trying to teach her about the magic of compound interest. As for myself I put as much as possible into mutual funds, and if that doesn't work out I will lower my standard of living so that social security is a pretty good living. Or I could move in with my daughter and the Dr.
      Mikey P and Askal like this.
      Last edited: Dec 27, 2017
    2. Askal
      Askal

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      After 40 years we have either a business that would sell or just keep on the path we have been on for 12 years as semi retired. I still really enjoy my job. Also own our building 4 trucks and a lot of wdr equipment. Plus regular investments. I have always been very big on investing in my equipment. As long as I am sharp mentally then I will keep on I guess.
      Mikey P likes this.
    3. hogjowl
      hogjowl

      @

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      Bristor is saving me a spot down by the river.
    4. Askal
      Askal

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      Also wanted to point out that when I was 40 (62 now) the retirement Outlook looked pretty grim but hard work worked for me.
    5. scottw
      scottw

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      I am quickly approaching the age I would like to retire. Social security will not be sufficient to fund my present life style (which is by no means extravagant.) Hopefully, in the next year or two I will find someone in the industry that would like to hire a part-time consultant / technical guy where I can use my experience 20 to 24 hours per week.
      Mikey P and Desk Jockey like this.
    6. hogjowl
      hogjowl

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      I’m looking for a part time guy to put on my sons truck, Scott.
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    7. Mikey P
      Mikey P

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      Ive been able to sock away far more now as a broke dick owner op than I did as a multi trucker...
    8. Desk Jockey
      Desk Jockey

      Rico Suave

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      I have a plan "Welcome to Walmart"

      Seriously I have a plan "Do you want fries with that?"

      :biggrin:
    9. Wandslinger
      Wandslinger

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    10. Derrick T.
      Derrick T.

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      Derrick Andrew Trulson
      My daddy died at 47, no retirement there. My mom, well I guess if my business succeeds, i can help her have a retirement. For me, I hope to succeed in few of my goals in 2 or 3 business path so i enjoy life in later years and die a glorious death. As for my son, hopefully i will help him grow up wise so he make good decisions with life and pursuits.
    11. Mikey P
      Mikey P

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      So tell your story Henry....
    12. Mikey P
      Mikey P

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      My Dad retired on SS, nothing in the bank, lived with my brother and was saved by his time in the military who funded his five years of fighting lung cancer


      My Mom had about 300k inherited from a rich father in law, that got sucked up by nursing homes real quick. She also benefited from a decade of working at Northrup Grumman, who provided after retirement health insurance way above and beyond.


      Either would have bankrupted us kids had they not had those health packages.



      In other words no inheritance for me.
    13. jcooper
      jcooper

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      Life certainly doesn't seem to get any easier as we age. Both parents live by them self, both having a tuf time making ends meet. Social security doesn't pay enough for a small apartment. Mom works still(has to), dad can't work, lucky if he get his medications right on a daily basis. Unlucky for me, I'm an only child.

      Both were dealt some tuff blows and all the savings they had are spent.


      I started investing a few years ago and find it fascinating. Economics, trading, options, world trade, everything... It's addicting, the learning part. Wish I would have known how interesting all this is years ago.

      Best thing for my retirement situation would be a nice recession to load up the truck and be ready to cash out in 15-20 years. I'll never have enough. Die broke and leave the stocks to the kids(6&4)... Maybe they can retire someday.
      Derrick T. likes this.
    14. Derrick T.
      Derrick T.

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      It gives you character. You can rightfully say that you are a man who worked his ass off! Thats what i strive for. Good on you.
    15. Mikey P
      Mikey P

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      Which would be how much?
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    16. Bob Pruitt
      Bob Pruitt

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      Working class parents. My Dad retired from IBEW Union. My Mom has free medical and a monthly check from that. She owns her house and has no debt. Grand Parents were wealthy so she inherited some as well. Social Security. She is OK. So one less worry for me.
      I left home at 16 years old. Went to school until 2 and worked from 3 to 9 daily and some hours on Saturday or Sunday. Also had a lawn mowing route on the other day of the week I wasn't working. I have always worked so when I tried doing a part time retirement I became deeply depressed.
      Now I am back and doing pretty well for a guy that only started 6 months ago and had a hurricane run over us...wrecking 2 months of my start. Lot of equity in this house, a couple small investments. Looking to pay off the Butler lease/loan in half the 5 years. Other real estate investments on horizon. Having fun and will see where this all goes.
      Last edited: Dec 27, 2017
    17. Acp
      Acp

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      Im only 32, or 33 its hard to remember for some reason. Steam cleaning is going well, dog training is kinda hobby and income.. could be pretty decent income someday plus I love dogs so its kinda like not working. Working on my other business in my free time (epoxy coatings).

      Havent thought much about retirement but was able to buy some land a few years ago which is gaining some equity.. I would probably rather stay busy when I get old than have too much couch time... so still working at least some doesnt sound bad to me
      Mikey P likes this.
    18. scottw
      scottw

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      Please, send me an application. Jenny would love to move back to the south. Also good grits are almost impossible to find in Utah.
    19. Radar Foster
      Radar Foster

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      I'm just a dumb Gilligan in a dingy that bought a bunch of stocks and was fortunate the tide rose :biggrin:

      Always been good with numbers, and was brought up like a lot of you... extremely modestly

      Dad never made more than $20 grand a year and mom stayed at home

      She could make it go far tho, whereas my dad would have been in debt up to his ass like his father before him

      As long as there was beer in the fridge , he considered himself a wealthy man

      Was very close with my mom , she answered my phone for 16 years until she passed. Before she got married she worked in a bank and showed me how they calculated monthly Passbook interest and loan payments by hand

      Once I took statistics in college I was hooked on compounding interest and loan amortization , got my Series 7 and started investing.

      I'm with Bob Pruitt, don't see 'retirement ' in my future

      Just a transition... the best part is I really don't know what it will be

      But it's really nice having options

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