Retirement Planning

Discussion in 'Business Operations' started by britsteroni, Nov 17, 2012.

  1. britsteroni

    britsteroni LawnSite Senior Member
    Posts: 334

    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!
     
  2. jc1

    jc1 LawnSite Bronze Member
    Posts: 1,589

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

    clydebusa LawnSite Bronze Member
    Posts: 1,660

    10% of net goes back for retirement.
     
  4. britsteroni

    britsteroni LawnSite Senior Member
    Posts: 334

    Clyde,

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

    britsteroni LawnSite Senior Member
    Posts: 334

    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?
     
  6. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961

    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.
     
  7. newguy123

    newguy123 LawnSite Bronze Member
    Posts: 1,094

    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.
     
  8. britsteroni

    britsteroni LawnSite Senior Member
    Posts: 334

    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?
     
  9. britsteroni

    britsteroni LawnSite Senior Member
    Posts: 334

    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
     
  10. clydebusa

    clydebusa LawnSite Bronze Member
    Posts: 1,660

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

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