Choosing A Retirement Occupation

[Adamski]

Guys,

We're all moving toward our retirement years ... some of us will get there soon ... others a little later. So I've spent the past few years thinking about what I'd like to do when I retire one day.

First, I thought about becoming an Exotic Dancer ... you know, a pole dancer. It seemed easy enough but then I worried that perhaps putting a hard, brass pipe between my legs wasn't such a good idea.

Then I became interested in becoming a News Anchor when I heard that they can make about $20,000,000 per year. I mean, like, how hard can it be to read a teleprompter? I could do that. But then I remembered that nobody wants to hear anything I have to say.

Later, I considered becoming a politician. I wouldn't have to say much. I could express my opinion through my powerful vote. But then I realized that I'd have to listen to all those lobbyists with their endless chatter as they attempt to swing my vote to their benefit. Too boring.

Well, my current hot idea is to become a member of Seal Team 6. I think that would be an exciting and rewarding part-time occupation. I figure I could train at home in my spare time and then when a mission arose, I'd hook up with the rest of the team and go kill someone important.

Anyway, I just wrote this little tidbit to get you guys thinking about your own retirement. What will you do? Will you have enough money to do it? Will you be healthy enough to do it? It's never too early or too late to start planning for your retirement.

[bo]

Larry, I started to answer with a humorous reply until I read it and understood just how serious the question really is. The subject of transition and family succession is one that gets very little press. You got a hundred replies to " What kind of water heater to buy?" . Lets hope the deep thinkers on this board can share some of the knowledge they have gained from their life experience. I don't have any kind of serious answer for your question, but at age 54, I'm all ears to some good advice.

[MrMachine]

I personally do not believe in not working during retirement.

You don't have to work at the same thing, or even do as many hours, but it's very important to keep moving and to keep setting some kind of goals.
I used to work in hospitals and I've seen a LOT of people get mortally sick simply because of years of bad diet, risky lifestyle, and lack of exercise.
In fact, I dare say that almost half the people in hospitals today are there due to their own devices.
It seems that when a lot of people retire and have nothing to do, they flounder and start to go downhill. I believe we all need a reason to get up in the morning, and if you retire the least you should do is to find a gym or some other way to stay active.
Our bodies have evolved to walk, run and sweat. We were either running after the wooly mammoth to hunt him, or running away from him to survive. Either way, we were running!! Humans are NOT designed to sit in front of computers (as I'm doing right now, lol), to sit in cars, or to sit at TV's.
We are designed to prosper when we sweat and till the soil.

I'm 58 now and running 2 stores by myself (used to have 3 up until 10 years ago). My kids are not interested in continuing the Mr Machine Dynasty so I figure that I'll just keep one mat in retirement, the one that I feel at the time is the easier one to run, and I'll run that one until whenever....

It gets harder as you get older, even though I'm thankful that I'm in very good physical condition.
Since the economy is so tenuous these days, I plan on staying with both stores until I hit around 65, then sell the pain in the a** one.

[kees]

Larry,

As always, I tremendously enjoy reading your posts. Have you considered becoming a writer? Seriously, you appear to quite literate and you obviously put a lot of thought into your posts before pressing the enter button. I, for one, would love to read more of what you write. And, I get the feeling that I'm not the only person who feels that way.

Suzy :cool:
We've Got Your Sock Laundromat

[KJ]

I'm probably going to do the same thing...

Just less of it.

[DaveLevenson]

I consider myself semi-retired now. I will turn 65 later this year, but gave up full-time employment a few years ago.

My mat doesn't make a living, but makes a contribution; I'll probably keep it for as long as I can manage it profitably. When I have to outsource too much of the work to make money, it'll be time to unload it.

I do part-time work for a telecommunications service company. It's not a living, but like the mat, it makes a contribution. I enjoy the work, and get to travel all over the New York City metropolitan area, installing, configuring, and repairing telecom equipment. I'll probably keep that up for as long as I'm able to drive and climb a ladder.

Social Security isn't a living either, but like the mat and the telecom work, it makes a contribution. I'll try to keep that until the government runs out of money for it.

With these contributions taken together, I can keep food on the table and a roof over my head without spending my savings.

I was chatting with a customer in my mat a while ago. He told me that he works for Prudential as an actuary. I asked him: "If I gave you a list of ten million people, and a statistical abstract of their demographics, ages, medical histories, etc., could you tell me how much they'd need for medical expenses over the next ten years?" He replied that he could, within a few percentage points. I then asked him: "Suppose the list contained one million people?" He replied that he could still estimate it, but with a somewhat greater margin of error. So I continued: "Suppose it was 1,000 people?" He replied that it would be very hard to come up with a useful estimate. So I asked the final question: "What about an individual... how much should I put into my health savings account?" His reply: "there's absolutely no accurate way to answer that question -- put in as much as you can afford." If a professional actuary answers that way, what is an individual to do?

[Howard]

Dave:

Never believe anything that an actuary tells you! ****

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*** I am married to an Actuary. :)

[soapopera]

I know the title sounds like a contradiction, and perhaps it is.
My working career was spent in the car business, and I got out of that in 2006 at the ripe old age of 50. Since investments were going downhill fast, I bought two stores and some rental properties instead of stocks and bonds. Then a hair salon and a vending business.
Now I am 3+ years older and wiser, I'm selling the laundry stores and buying more rentals while the prices are cheap.
I just passed the 55 mark, my goal is to get the winter home in Florida by the end of next year and keep enjoying life. Travel has been tough since owning the stores, one of the things I had not planned for.
I still have my vending biz and will keep it for now. Never could keep a job more than 2 or 3 years when I was working for a boss, and being self employed has been just about everything I hoped it would be.
Still have a boss or two, but no time clock. Every day is a new adventure.
I wanted to own a small business when I was in high school and college, and now I wish I had made that move so many years ago. I'll still be working somewhere for myself when I pass the 65 mark. Just can't sit around for long it seems.

[Brett]

So I sold my mats well over a year ago... After I wound down everything, took a 2 1/2 week vacation in Europe and played golf until my hands hurt..... I got bored. Trust me, I don't miss being at the mercy of every person that loses a quarter, but ya gotta do something. I remember sitting on the couch in the morning and watching TV. I fell asleep. I then was watching TV in the afternoon. Yep fell asleep again. Now I'm ONLY 57 and have enough money that I don't have to work. But YA GOTTA DO SOMETHING. I have volunteered at meals on wheels and with Habitat for Humanity. I now work at the Waco, TX Veterans Affairs Service Center. I love it. Work is easy, interesting and every time Friday comes around, I call my Wife and tell her I'm on vacation cuz I have two days off in a row!!!!! Oh and they have these things called "Sick Days". Who knew??!!! So after being gung ho for years, don't expect to be able to turn off the energy. Plan on doing something. Oh yeah and I still play a lot of golf. Now a 7 handicap. Not bad for an old guy.