Anyone Thinking Retirement Plan?

Discussion in 'Business Operations' started by JOEWOOD, Jul 25, 2005.

  1. JOEWOOD

    JOEWOOD LawnSite Member
    Posts: 146

    [​IMG] [​IMG]
    Am I the only one?

    Joe... :dizzy:
     
  2. Scapegoat

    Scapegoat LawnSite Member
    Posts: 249

    of course. :) Crazy not to have a plan for retirement, regardless what you do for a living. I'm 33 and don't plan on busting my arse at this rate at 65...... or 45 for that matter! :p
     
  3. Roger

    Roger LawnSite Fanatic
    Posts: 5,927

    What is the definition of retirement? Serious question ...

    I've seen too many "fold thier tent" at 65, and at 65 1/2 they are gone. I've changed my view over time, and don't think many people understand "doing nothing" is a very good option. I'm near 64, but cannot envision myself without work to do, being productive, staying active, etc.

    I work for some retired people, and know many others. At my age, many of my friends are retired. Some are really happy, love life, and are doing well. Others are miserable, and would be better off doing something productive. One customer hires me for leaf removal only; he does his own mowing. He cuts a little of his yard each day. Another does nothing. The highlight of his week is when the recyle truck comes so that he can scrub out the plastic recyle bin. Ouch!
     
  4. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Posts: 4,900

    Yes, been planning on it for 30 yrs. Not thinking about it but actually planning it. Investments, savings, and the other things that I need to generate a livable retirement account. I believe that everything is still in place and I feel comfortable knowing that next yr should be it. Roger your correct, retirement is not death but a time to live and enjoy all the things that you could not because you HAD to work. just as I made plans to retire I have made plans FOR retirement.
     
  5. gene gls

    gene gls LawnSite Gold Member
    Posts: 3,213

    I'm 62, retired on Jan 1 of this year. Still working just as hard as last year. I know to many people that have waited for retirement and then became couch potatoes and lost thier health do to no activity.

    Gene
     
  6. Scapegoat

    Scapegoat LawnSite Member
    Posts: 249

    In all seriousness, I understand what you are saying. My father worked hard and that enabled him to retire at 58. He kicked back and lived a quiet, relaxing life, but then he passed away suddenly at only 62. It was a fatal heart attack. Would he have lived longer had he not retired early? We'll never know.

    What is retirement you ask? You will get a different answer for each person you ask. Some want to do less, some more. Some will slow down, some speed up. Some want to stay home all day, some want to see the world.

    The people that do what they truly love in life will never "retire." They don't see their profession as a job, but an extention of their life. They would do it for free forever.

    Me, I have a ton of hobbies to pursue and well as my love of travel. I've seen this country over several times and now add one new overseas country per year to my list (17 so far). I love to travel, so when I retire, I'll have plenty of places to go and things to keep me busy. I have friends all over the world to visit. I also hike, camp, kayak, snowboard and skydive, so assuming my health holds out, I'll have lots of things to pursue that I don't always have time for now.

    I think as said before, the key is to keep active, busy and set goals, regardless of what you're into. Always have something fun to look forward to.

    And lastly, a wise diversified investment plan to fund all this, which I have in place.
     
  7. DLS1

    DLS1 LawnSite Bronze Member
    Posts: 1,619

    You got to keep active with something to stimulate the mind and body. It probably helps the bodies immune system to keep away diseases. If you don't have anything to do but watch TV after retirement your in trouble.

    Even working part-time as a doorman at Wal-Mart is better than a couch potato retirement. :D
     
  8. Shuter

    Shuter LawnSite Bronze Member
    Posts: 1,171

    My advisor wants me to switch from IRA to a SEP (self empoyed retirement plan). I will be opening one plan now, but keeping the IRA.
     
  9. Five Star Lawn Care LLC

    Five Star Lawn Care LLC LawnSite Bronze Member
    Posts: 1,005

    building my company then selling it when im ready to retire is my plan....move upnorth on a lake
     

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