Retirement...Someday

Discussion in 'Business Operations' started by Darwin, May 31, 2003.

  1. Darwin

    Darwin LawnSite Member
    Posts: 101

    Let me hear your feedback on retirement programs for yourselves.

    Since I happen to be self-employed this happens to be a very important concern in my life.

    I contribute my max amount in Roth every year, but I'm curious as to what you folks are doing.

    Thanks for the info.

    Duane
     
  2. Albemarle Lawn

    Albemarle Lawn LawnSite Bronze Member
    Posts: 1,544

    Yep. The white trash retirement plan - LOTTO!!!:confused: :dizzy: :cry:
     
  3. Tbarchaser

    Tbarchaser LawnSite Senior Member
    from Florida
    Posts: 449

    I figure in 35 years I will have 12.6 million pounds of worn edger blades, mower blades. Sell those puppys for scrap and I will have it made. :D
     
  4. Darwin

    Darwin LawnSite Member
    Posts: 101

    Yea, you both have hit the nail on the head.

    I was just kiddin' bout the Roth funds.

    I am soooooo looking forward to bagging groceries to "make-ends-meat" when I'm 60.
     
  5. Rustic Goat

    Rustic Goat LawnSite Bronze Member
    Posts: 1,194

    It's sort of a peculiar word is't it.
    Re tire
    Sounds like it means getting tired again, no thanks. What am I going to do, mow my own lawn. Lord willing, and if good health remains my friend, I'll just be found one day on my mower going round in circles.
    Well, maybe by then I'll be sending out crews and fussing about equipment maintenance. I enjoy what I do too much to walk away from it. Slow down yes (someday), retire no, as long as I can tell the difference between the turf and the flower beds.
     
  6. Firefighter Dave

    Firefighter Dave LawnSite Member
    Posts: 166

    Just remember some money, even if it's a little bit for retirement will go a long way. In my line of work I see many seniors without insurance or retirment money coming in. They can't afford to eat let alone buy needed medications that Social Security won't provide.

    Dave

    :blob2: :blob2:
     
  7. mtdman

    mtdman LawnSite Gold Member
    Posts: 3,137

    Retirement is nothing to joke about. I have $$ in an IRA from a former 401k from another job. Just a little, but it will grow. I also just started to contribute to a Roth IRA, which is the best thing going. Even $500 a year is going to grow and be there for you, tax free, when you retire. Many banks have Roth plans if you don't feel like going the broker route, and even 4-5% a year growth is better than nothing. Don't rely on Social Security, put money away for yourself now. Getting old ain't cheap.
     
  8. mowerman90

    mowerman90 LawnSite Bronze Member
    Posts: 1,491

    Ah yes, retirement. When I retire I'm only doing 3 lawns per day. LOL
     
  9. Darwin

    Darwin LawnSite Member
    Posts: 101

    MTD, Dave, thanks for the response.

    I'm glad to think that I'm not the only person out there thinking about retirement.
     
  10. Green Goblin

    Green Goblin LawnSite Member
    Posts: 54

    you can contribule less earlier and be better off than contributing more later. get a retirement account set up with someone. put as litttle away or as much as possible. it all adds up.
     

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