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TheChiefsLawnCare
05-06-2008, 11:16 PM
What do all you guys do that just cut lawns when it comes time for retirement, life insurance, and health insurance?

Runner
05-06-2008, 11:31 PM
HA! Good question! Now reality sets in! It depends on if you own a job, or own a business.

Toad
05-07-2008, 12:13 AM
Started a 401k with an oil company I work for in the winter months several years back, also started a roth IRA couple years ago. Wife has 403b & NYS retirement (excellent system) she has the health ins through work, and we both have a half mill policy on our heads for life. Our financial planer says we should be set, guess well have to wait 30 yrs and see. payup

Raven386
05-07-2008, 12:25 AM
What do all you guys do that just cut lawns when it comes time for retirement, life insurance, and health insurance?

well I dont know what I am going to do about that.. I do know I am going to be the biggest pita to my lawn care guy. :laugh: payback for all of my customers

TheChiefsLawnCare
05-07-2008, 12:27 AM
ahhhh, sounds like a plan. Cause I want to join the local police department but I also really love to cut grass. And right now, the economy is getting horrible so I just wonder how good being self employeed and cutting lawns will be if people cant afford gas and groceries now.

Raven386
05-07-2008, 12:30 AM
only time will tell what will happen. Having a stable job and ins. would be a lot better than this. But at the same time, you are no longer your own boss and the money you can make in this industry is unlimited. If the work is there obviously. so that brings you back to a stable job with a retirement fund.

Carolina Cuts
05-07-2008, 12:33 AM
well I dont know what I am going to do about that.. I do know I am going to be the biggest pita to my lawn care guy. payback for all of my customers

:laugh::laugh: not exactly the long term goal I was expecting... but it works.

TheChiefsLawnCare
05-07-2008, 12:37 AM
Yeah, its a gamble, take the chance and stick with it, or just leave it and do police work. At least with the police department, i would have a check in the mail on a reg. basis.

Raven386
05-07-2008, 12:37 AM
:laugh::laugh: not exactly the long term goal I was expecting... but it works.

haha. I live for the day I have a lco cutting my lawn or retirement home. I will tell him about the good ol' days. We used to have to walk behind our lawn mowers! We didnt have robotic ones. We used to carry the trailer from lawn to lawn too, loaded with 3 mowers full of grass by hand up-hill both ways! in the snow!

fool32696
05-07-2008, 01:31 AM
Take the police job. It doesn't sound like you have the drive to make a successful business.

TheChiefsLawnCare
05-07-2008, 11:19 PM
I just wonder about the economy, thats all.

Lawnworks
05-08-2008, 12:20 AM
The economy is fine. We are not in a recession. Don't listen to the media hype. Maybe you need to advertise a little more.

As far as retirement... why don't you start an IRA. If you put 4k in year for the next 40 years... you will be a millionaire.

I have a high deductible HSA(health savings account) for my insurance. It is only $180 per month for me and my wife... basically the first 5k of health services I use per year, I have to pay out of pocket... but anything over 5k is covered by my insurance. Great plan for me since we are healthy and I am not wasting money on a high monthly premium.

As far as life insurance... forget it if your not ready... but when you do get married, get just a term life insurance policy... they are very cheap and is basically all you need. I think they will pay out 250k to your spouse if you die... and that should be enough to cover the house payment till she finds another dude.

You need to do what you love first and foremost. But like some else said... the money you can make doing maintenance and landscaping is unlimited. It is out there... you just have to get your hands on it.

S man
05-08-2008, 01:32 AM
Hey chief, how's it going? Just to let you know, this is the picture forum. You should post this in commercial mowing or somewhere else. Do you have any pictures of your stuff?

Scott

S man
05-08-2008, 01:34 AM
The economy is fine. We are not in a recession. Don't listen to the media hype. Maybe you need to advertise a little more.

As far as retirement... why don't you start an IRA. If you put 4k in year for the next 40 years... you will be a millionaire.

I have a high deductible HSA(health savings account) for my insurance. It is only $180 per month for me and my wife... basically the first 5k of health services I use per year, I have to pay out of pocket... but anything over 5k is covered by my insurance. Great plan for me since we are healthy and I am not wasting money on a high monthly premium.

As far as life insurance... forget it if your not ready... but when you do get married, get just a term life insurance policy... they are very cheap and is basically all you need. I think they will pay out 250k to your spouse if you die... and that should be enough to cover the house payment till she finds another dude.

You need to do what you love first and foremost. But like some else said... the money you can make doing maintenance and landscaping is unlimited. It is out there... you just have to get your hands on it.


I agree. The economy is fine. It's just election time soon and the dems need to make it look like bush is a loser and that we need a liberal democrat to save us from the recession he caused.:rolleyes:

TheChiefsLawnCare
05-08-2008, 01:43 AM
O, your the first person to tell me that. I didnt even realize I posted it in picture forum. No I dont, but i guess I should get around to taking one.

TheChiefsLawnCare
05-08-2008, 01:46 AM
The economy is fine. We are not in a recession. Don't listen to the media hype. Maybe you need to advertise a little more.

As far as retirement... why don't you start an IRA. If you put 4k in year for the next 40 years... you will be a millionaire.

I have a high deductible HSA(health savings account) for my insurance. It is only $180 per month for me and my wife... basically the first 5k of health services I use per year, I have to pay out of pocket... but anything over 5k is covered by my insurance. Great plan for me since we are healthy and I am not wasting money on a high monthly premium.

As far as life insurance... forget it if your not ready... but when you do get married, get just a term life insurance policy... they are very cheap and is basically all you need. I think they will pay out 250k to your spouse if you die... and that should be enough to cover the house payment till she finds another dude.

You need to do what you love first and foremost. But like some else said... the money you can make doing maintenance and landscaping is unlimited. It is out there... you just have to get your hands on it.

Yeah, I have been working like crazy cutting lawns. I started off 2 weeks ago with 4 yards, and now i have 10 and i need to go see a person soon if he wants to hire me cause that would be 11. My goal is 15 by the end of the seaon. Once I pay my parents back I will save for a 36 walk behind or a trailer.

Lawnworks
05-08-2008, 07:50 AM
Yeah, I have been working like crazy cutting lawns. I started off 2 weeks ago with 4 yards, and now i have 10 and i need to go see a person soon if he wants to hire me cause that would be 11. My goal is 15 by the end of the seaon. Once I pay my parents back I will save for a 36 walk behind or a trailer.

Why are you worried about the economy when you are "working like crazy"?

I have been the same way... all my crews have have been working 20 hours of overtime each week for the past two months... and we are booked till June on our landscaping crew. My phone literally rings 20-30 times a day... the economy is just fine... at least until Obama or Hillary get in and decide to tax us some more!

TheChiefsLawnCare
05-08-2008, 09:36 PM
Cause Im looking past right now, and looking into like 5 years when I would be out of my parents house and paying for everything myself. Right now gas is 3.55 in our area and they are saying that the barrel of oil is going to be 200 dollars in the next year or two. people already cant afford to buy food and gas.

TheChiefsLawnCare
05-08-2008, 09:38 PM
How are they going to be able to pay people to cut their yards. If gas gets to 4 dollars a gallon will have to tack on 5 dollars gas surchagre.

Lawnworks
05-08-2008, 11:17 PM
How are they going to be able to pay people to cut their yards. If gas gets to 4 dollars a gallon will have to tack on 5 dollars gas surchagre.

Actually gas is not that much of a percentage of my gross income. It is only about 5.5%... so you figure a 2.5% surcharge for the gas increase... not that much money really. If you charge a $5 dollar surcharge on a $45 dollar yard, you will actually be pocketing $2.50 more profit.

I know guys that are actually making more profit because of the fuel... they tack on a surcharge and end making more profit because everybody thinks the gas is just killing us.

I think gas will hit $4 or $5 dollars and then come down. All we have to do is drill... too bad the environmental whackos are all stabbing us in the back.

Lawnworks
05-08-2008, 11:18 PM
Cause Im looking past right now, and looking into like 5 years when I would be out of my parents house and paying for everything myself. Right now gas is 3.55 in our area and they are saying that the barrel of oil is going to be 200 dollars in the next year or two. people already cant afford to buy food and gas.

Maybe you should target recession proof clients... they don't care what the gas is.

TheChiefsLawnCare
05-08-2008, 11:28 PM
Yeah, most of the yards that I cut are 30-35 dollars.

corey4671
05-08-2008, 11:29 PM
The economy is fine. We are not in a recession. Don't listen to the media hype. Maybe you need to advertise a little more.

As far as retirement... why don't you start an IRA. If you put 4k in year for the next 40 years... you will be a millionaire.

I have a high deductible HSA(health savings account) for my insurance. It is only $180 per month for me and my wife... basically the first 5k of health services I use per year, I have to pay out of pocket... but anything over 5k is covered by my insurance. Great plan for me since we are healthy and I am not wasting money on a high monthly premium.

As far as life insurance... forget it if your not ready... but when you do get married, get just a term life insurance policy... they are very cheap and is basically all you need. I think they will pay out 250k to your spouse if you die... and that should be enough to cover the house payment till she finds another dude.

You need to do what you love first and foremost. But like some else said... the money you can make doing maintenance and landscaping is unlimited. It is out there... you just have to get your hands on it.

just got to say after rading your posts in this thread...it's almost like I've found my long lost twin here!! :clapping:

Lawnworks
05-08-2008, 11:42 PM
just got to say after rading your posts in this thread...it's almost like I've found my long lost twin here!! :clapping:

You must have it figured out as well!! I think I remember you being a Dave Ramsey kind of guy. Kudos! I have almost got my first house paid for at 25. About to start saving toward the beach house!!!

S man
05-08-2008, 11:43 PM
Yeah, most of the yards that I cut are 30-35 dollars.

That's about what I charge for my lawns. Some are more and some are less. Chief, have you looked at the dixon black bears at eastbank? Those are some serious 34" riders. Are you going to get a bigger mower soon?

Lawnworks
05-08-2008, 11:45 PM
Yeah, most of the yards that I cut are 30-35 dollars.

Well if you do a $5 surcharge on a $30 dollar yard... you will pocket about $4 more per $30 yard.

Of course my calculations are for my set-up and my routes... but should be close unless you drive 30 miles to each yard.

corey4671
05-08-2008, 11:46 PM
You must have it figured out as well!! I think I remember you being a Dave Ramsey kind of guy. Kudos! I have almost got my first house paid for at 25. About to start saving toward the beach house!!!

Yep. one of those wierd people here. I'm a LONG way from being in your position but I'm workin on it!! I had people try to tell me about ol Dave 10 years ago and I thought they were as stupid as he was. Turns out Dave wasn'tso stupid after all. Congrats on your success and such a young age!!

Lawnworks
05-08-2008, 11:54 PM
Yep. one of those wierd people here. I'm a LONG way from being in your position but I'm workin on it!! I had people try to tell me about ol Dave 10 years ago and I thought they were as stupid as he was. Turns out Dave wasn'tso stupid after all. Congrats on your success and such a young age!!

Your right we are wierd... either your with us, or you have no clue! Everybody I meet I try to talk them into no debt, save, save, save and building net worth... I guess I am wierd. I just hate to see people go into debt. Until they pay the last note... the bank owns it... not them.

Hardee's Bush Hogging
05-14-2008, 11:57 AM
Your right we are wierd... either your with us, or you have no clue! Everybody I meet I try to talk them into no debt, save, save, save and building net worth... I guess I am wierd. I just hate to see people go into debt. Until they pay the last note... the bank owns it... not them.


You aren't wierd, just better than you deserve. ;) I wish I had learned earlier in my life that owing money on most everything I "owned" was getting me nowhere fast. I now actually own everything but my tractor, and it will be paid off this year.

As far as retirement goes, I have an IRA and am starting to put more money into real estate. The housing market and stock market may fluctuate from time to time, but they are both proven winners over time.

corey4671
05-14-2008, 01:48 PM
You aren't wierd, just better than you deserve. ;) I wish I had learned earlier in my life that owing money on most everything I "owned" was getting me nowhere fast. I now actually own everything but my tractor, and it will be paid off this year.

As far as retirement goes, I have an IRA and am starting to put more money into real estate. The housing market and stock market may fluctuate from time to time, but they are both proven winners over time.

hey I was actually over in your corner of the worlf friday night. stayed at the holiday inn at carraige house.

FDuce
05-14-2008, 02:56 PM
As far as retirement... why don't you start an IRA. If you put 4k in year for the next 40 years... you will be a millionaire

In 40 years most middle class people will be millionaires just from their 9-5 job. A job paying $45,000 today will pay $146,700 in 40 years when adjusted for inflation.

Hardee's Bush Hogging
05-15-2008, 10:55 AM
hey I was actually over in your corner of the worlf friday night. stayed at the holiday inn at carraige house.


Yep, I know the place. What part of TN are you from?

Hardee's Bush Hogging
05-15-2008, 10:57 AM
In 40 years most middle class people will be millionaires just from their 9-5 job. A job paying $45,000 today will pay $146,700 in 40 years when adjusted for inflation.

Unless you have a day job like mine that doesn't adjust with inflation.:cry:

Lawnworks
05-15-2008, 08:15 PM
In 40 years most middle class people will be millionaires just from their 9-5 job. A job paying $45,000 today will pay $146,700 in 40 years when adjusted for inflation.

I think most people in the middle class will still be in debt up to there eyeballs in 40 years.

rfed32
05-16-2008, 06:18 PM
roth ira....started as soon as i got out of high school...max it out $200bills in it every month

corey4671
05-17-2008, 01:13 AM
Yep, I know the place. What part of TN are you from?

middle tn about an hour south of nashville. was headed to brother in laws graduation in martin and stayed the night in Jackson.