Retirement Planning

[britsteroni]

After some discussion on another thread, I thought this would be a good topic that doesn't get talked about much here on lawnsite.

For those of you that are full-time, what do you do for your retirement planning?

Do you utilize the services of a financial planner? A broker? DIY? Do you think about retirement at all?

Let the discussion begin!

[jc1]

We have a simple Ira plan through Weffs Fargo advisors. We match our employee contributions up to 3%.

[clydebusa]

10% of net goes back for retirement.

[britsteroni]

Originally Posted by clydebusa

10% of net goes back for retirement.

Clyde,

What retirement "vehicle" do you use for the savings (ROTH IRA, IRA, SOLO 401(K)?

[britsteroni]

Originally Posted by jc1

We have a simple Ira plan through Weffs Fargo advisors. We match our employee contributions up to 3%.

1. Did you set this up at one of the retail outlets?

2. What mutual funds do you guys have to choose from?

3. Have you looked into the fees that you are charged for each of the mutual fund options?

[Duekster]

I am going to keep investing in my business and paying down my personal bills. As long as my mind works, I can keep managing my empire. If my mind goes then I do not really care about much else.

[newguy123]

I have to say that any investment that is tied to Wall Street is a potentially bad problem (to say it nicely.) The money that you invest into anything related will not bring the same ROI as reinvesting in yourself (your business.) Investing in real estate is probably the best option other than your business. But don't invest for capital gains, that doesn't always work. Invest for cash flow through rental properties.

[britsteroni]

Originally Posted by Duekster

I am going to keep investing in my business and paying down my personal bills. As long as my mind works, I can keep managing my empire. If my mind goes then I do not really care about much else.

Duekster,

1. Is your business to the point that you no longer work in the field?

2. Are you pretty close to being debt free?

3. Assuming you have a family, do you have insurance in place to provide for them if something were to happen to you?

[britsteroni]

Originally Posted by newguy123

I have to say that any investment that is tied to Wall Street is a potentially bad problem (to say it nicely.) The money that you invest into anything related will not bring the same ROI as reinvesting in yourself (your business.) Investing in real estate is probably the best option other than your business. But don't invest for capital gains, that doesn't always work. Invest for cash flow through rental properties.

newguy,

I think a lot of people would agree with your disdain for Wall Street. Have you done much reading on index mutual funds? I think rental real estate is a great wealth building tool. Do you have specific goals or plans to build a real estate investment portfolio that will support you upon retirement or if you are unable to continue doing manual labor? If you or anyone else is interested in learning more about real estate investment, I would highly recommend www.biggerpockets.com/forums

[clydebusa]

Originally Posted by britsteroni

Clyde,

What retirement "vehicle" do you use for the savings (ROTH IRA, IRA, SOLO 401(K)?

IRA's, some gold, stock, and CD;s. real estate. (rent houses)