# How are you old timers thinking about retirement?



## burntside bob (Sep 27, 2010)

It's been a while since I posted on this site.
It has gotten to that point in time, looking at 67 years old but healthy no medical problems, that I have to realize I am not a young man anymore and this dirt work is a young mans world.
Wondering what your plans are for retirement, I have been thinking of a few options and wonder if you have any comments.
I am a owner operator, site work. 
My machines are old, like an antique road show, 25 to 30+ years old but in excellent condition with low hours for the age of the machines. Maintenance has been high a priority with my operation and it shows in the fleet.
Options I think I have are:
Hire an auction company and in one day sell all the stuff, it would be quick and probably would not get best dollar value.
Sell off each machine piece by piece which could take years to find buyer with the cash to pay for machine, notice I am not interested in being anyone's banker. I know in the ball park what the machines would sell for.
I could keep working taking only the jobs I would like to do by myself or with a once in a while helper and go into the sunset keeping occupied rather then setting in front of a TV or my ass parked on a bar stool like a lot of local men do.
Like you who have been in the business a long time I am frugal, not cheap, money has been had to come by and harder to keep some of it, so I am not broke.
I kind of am leaning to keeping the old equipment which would not generate all that much money if I sold it; and just work when I wanted to on small short term jobs. It would keep me involved in life and generate some pocket change to spend.
Then when I got so old and my body could not do the work anymore, then I would sell the machines.
Notice a lot of owner operators in the their late 60's early 70's and couple in their late 70's still working. 
Many of them I assume have no saving to support themselves in old age; since they depreciated or expensed their income down to nothing to save on social security and income taxes they have a small social security check, they have to work. 
Not me I did not play that game. 
My two pickups are second and third hand and they are nice old trucks; it appears every one else is driving around in new super expensive trucks; you know these guys are buying $70K plus pickups, maybe they leased them but then give them back to the dealership and get another new one, does not make any financial logic to me.
I would really appreciate if you would communicate what you are thinking of doing for retirement, please reply. 
This should be a good discussion.


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## Bad Boy Biker (Dec 12, 2009)

68. I have the same thoughts.


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## hdavis (Feb 14, 2012)

I just stopped doing stuff I don't like doing, or that beat me up too much. I'll keep going as long as possible. I tried retiring twice before, got rid if most tools. Got bored, bought more tools, went back to work.

I'm positioned so my living expenses are minimal.

Obviously, if my health takes a major downturn, that would be limiting.


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## Randy Bush (Mar 7, 2011)

Be 72 in Feb Have tried to slow down some, doesn't always work though. My health is pretty good and enjoy what I do. Exterior remodeling. I don't have some big saving account to retire on. More than likely continue on, slow down more , be more selective on jobs take on. Am to the point where am debt free and not having to work as hard Need to make more time for trips and camping.


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## hdavis (Feb 14, 2012)

BTW, a lot of people say when they due, they won't be wishing they built one more house, or whatever they do.

I'll be wishing I built one more.


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## Joe Fairplay (Aug 26, 2021)

burntside bob said:


> I would really appreciate if you would communicate what you are thinking of doing for retirement, please reply.


A lot of Hulu, Netflix and Twitter while waiting to die.


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## letgomywago (12 mo ago)

You all needed to find purpose to life other than work before the time to stop working came up. 

One more job doesn't make you any happier but hard work is fulfilling so hobbies are good but you need substance to it. Family is fulfilling but sometimes that doesn't always pan out. There's community that can be fulfilling so can charity.


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## wallmaxx (Jun 18, 2007)

I love work because I’m able to help others accomplish things that they want to accomplish. 

I never look at work like it’s a bad thing. I plan on working until I keel over dead. My purpose for working is twofold; help people, and make some money for my efforts. It seems to work out well


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## Ayangonz (Apr 6, 2011)

Figured the game out, got debt free, off the rat race, and retired at 44. Got board and came back in a few years later.

Now at 61, still playing the game. I don't plan on retiring again ever. I take what I make now and just add to generational wealth. Gold, silver, mining stocks and commodities like uranium. Also cash flowing properties. Basically, I play monopoly with real money now. Get satisfaction out of mentoring others and pissing people off on the forum and laughing when they try to tell me I am full of it. LOL.

Looked at new trucks a few months ago. $ 90,000.00. Instead bought a 1990 f-250 custom for $ 2,800.00. Had the engine rebuilt and restored the truck with $ 18,000.00. Total in $ 20,800.00. Started driving it around last week and people come up to look at it when pumping gas. Got offered 35 cash, sold! Looking for an old Bronco now to do the same thing. Stuff like that keeps me intrested. 

I say, keep going. Work only under your terms. Mentor and either save what you make now, or give it away for fun. Kind of like a secret Santa.


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## Big Johnson (Jun 2, 2017)

I’m going to finish building an airplane and hopefully still be able to fly it.


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## Tom M (Jan 3, 2007)

Spruce goose


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## Kowboy (May 7, 2009)

Bob:

I'm betting you'll regret selling your equipment. You should just raise your rates to the stupid level. Be the guy they call when their a$$ is in a jam. Now you'll get big money, gratitude, and only work between vacations.

I turned 67 this month. Haven't had any tools in my hands for several years now unless you call a laptop and a phone tools.

My girlfriend invited her family out to eat in a fancy restaurant when we visited recently. I picked up the tab that was less than 1K, but while I won't be poor in retirement, that's probably going to have to stop. I don't necessarily want to quit working, but I definitely don't want to stop spending.

I run ads to get work, so I'm always tethered to my phone, making me nearly always a little bit at work. You can get used to this or not; apparently I can. I'd probably sell if the right offer came along. I'd probably just volunteer to read to my pre-Ks more than once a week as I do now. Very frustrating, see little progress, no pay, but somewhat rewarding.


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## Big Johnson (Jun 2, 2017)

Tom M said:


> Spruce goose





https://en.wikipedia.org/wiki/Van%27s_Aircraft_RV-8


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## 480sparky (Feb 1, 2009)

Retirement?

I'll be working 'till noon the day they bury me.


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## Randy Bush (Mar 7, 2011)

480sparky said:


> Retirement?
> 
> I'll be working 'till noon the day they bury me.


They will probably make me dig my own grave before can quit. LOL


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## hdavis (Feb 14, 2012)

Randy Bush said:


> They will probably make me dig my own grave before can quit. LOL


Should have been a dirt guy, lol.


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## Pounder (Nov 28, 2020)

The plan is to call it quits in the next month or so. It all depends on the offers due in on my house today. By this afternoon I'll know if I'm retiring or looking for work.
Should the retirement plan work, I'll be evacuating California, moving across the country, and start looking for my hobby job. I have to something or or I'll sit on my ass for a year then die.


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## 530Foreman (3 mo ago)

480sparky said:


> Retirement?
> 
> I'll be working 'till noon the day they bury me.


And the service starts at 10 right?


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## avenge (Sep 25, 2008)

I give my clients my emergency contact number but my wife will just ignore the call.


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## dbbii2 (Apr 27, 2017)

Back in 2009 when the market crashed, I ended up simply closing my company and taking the cash out. As a GC, you needed some amount of cash for bonding, etc. Goofed off for a couple years, then went to work for someone. Officially retired at 64 and started social security. Luckily, my wife had a good job (with a pension!!).

The problem is most companies, in the grand scheme of things, aren't worth anything. The value is in the backlog and possible the contacts made during the years. How does one show what this is worth? If you are a corporation, OK, there's stock. Do you sell some of the stock, but keep 51%? Are you willing to give up control, recognizing that if you don't give up control, your chances of selling are slim. 

From a site contractor, you make a good point that the hard part is what is your equipment worth. Can you "prove" maintenance? Did you do it or did you have someone else do it that has records?


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## VinylHanger (Jul 14, 2011)

I think the difference is in those that have a wife with a good job and a pension and those who don't.

Some guys can build a business with no worries because their wife can pay the bills. Others must pay the big bills, raise a family and build a business.

Retirement looks a lot different from that point of view.

Would those same guys be able to goof off for a few years, or only do the fun jobs they want to do if every check was needed?

Not being contrary, just putting it out there.

Me? I'll be working till I'm dead and then I'll still need to work to do punch out.

Sent from my SM-N975U using Tapatalk


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## Platesurfer (Feb 9, 2019)

VinylHanger said:


> I think the difference is in those that have a wife with a good job and a pension and those who don't.
> 
> Some guys can build a business with no worries because their wife can pay the bills. Others must pay the big bills, raise a family and build a business.
> 
> ...


Groomed mine from a young age to get that secure govment job.... All part of the plan. 

Sent from my Pixel 4a using Tapatalk


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## Joe Fairplay (Aug 26, 2021)

I retired when I turned 50. Money is not an issue since I ran a successful business for 30 years.
I spent two years playing golf and traveling and then got bored so I got back into the business.
So now I do a few projects a year on my own and I also qualify a company to do construction.
I gives me something to do and still allows me to do nothing when I want to.
I could not imagine how emasculating it would be if I had to rely on my wife to pay my bills. 
That is sad and is an indication that you failed as a husband and as a businessman.


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## Pounder (Nov 28, 2020)

Joe Fairplay said:


> I retired when I turned 50. Money is not an issue since I ran a successful business for 30 years.
> I spent two years playing golf and traveling and then got bored so I got back into the business.
> So now I do a few projects a year on my own and I also qualify a company to do construction.
> I gives me something to do and still allows me to do nothing when I want to.
> ...


Welcome to 1950!
What a bunch of hogwash. I'd have been thrilled if my wife had out earned me for the last 40 years, and I'd be stinking rich today. My manhood isn't connected to my wallet, my wife's attractiveness and personality aren't there because of her income either. We're partners, we work for each other, for our family. If she was pulling down a huge paycheck I'd have been a house husband ten years ago, and my dick would be the same size it is today.


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## Platesurfer (Feb 9, 2019)

Hard to swing a single income household these days... Possible but I've yet to see a good recent example of a couple doing that in their 20s 30s. 

Sent from my Pixel 4a using Tapatalk


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## avenge (Sep 25, 2008)

Pounder said:


> Welcome to 1950!
> If she was pulling down a huge paycheck I'd have been a house husband ten years ago, and my dick would be the same size it is today.


But your hand would have blisters.... well in your case two fingers.


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## Joe Fairplay (Aug 26, 2021)




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## burntside bob (Sep 27, 2010)

Every one get back to the main question of this post about owner operators thoughts on retirement.
Thank you.


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## hdavis (Feb 14, 2012)

Joe Fairplay said:


> I could not imagine how emasculating it would be if I had to rely on my wife to pay my bills.


.....


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## hdavis (Feb 14, 2012)

burntside bob said:


> Every one get back to the main question of this post about owner operators thoughts on retirement.
> Thank you.


In your shoes, I'd keep the equipment all ready to go for 2 years before deciding to sell it. It isn't like me replacing a cabinet saw and a job site saw for a few thousand to start back up. Replacing heavy equipment is a pretty big barrier to getting back in.

I say 2 years, because the first year you'll be doing all the things you wanted to do if you weren't working, but the second year is where most of that is done, and I really started missing working. It could take longer for you, or less time to be sure.


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## avenge (Sep 25, 2008)

burntside bob said:


> Every one get back to the main question of this post about owner operators thoughts on retirement.
> Thank you.


Since you're no fun you should retire ASAP.


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## 480sparky (Feb 1, 2009)

So... who's going to win the next Super Bowl?


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## letgomywago (12 mo ago)

Platesurfer said:


> Hard to swing a single income household these days... Possible but I've yet to see a good recent example of a couple doing that in their 20s 30s.
> 
> Sent from my Pixel 4a using Tapatalk


I'm in my 20s and my wife does the house stuff and takes care of the 2 kids. We bought our house before covid though and live in one of the last places in the country you can make it on 1 income. She worked before we had kids when I was an apprentice. 

Back to the subject what to do after you're done with working. You need to have something to keep busy but I don't believe that a job is all that can make life fulfilling.


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## Ayangonz (Apr 6, 2011)

letgomywago said:


> I'm in my 20s and my wife does the house stuff and takes care of the 2 kids. We bought our house before covid though and live in one of the last places in the country you can make it on 1 income. She worked before we had kids when I was an apprentice.
> 
> Back to the subject what to do after you're done with working. You need to have something to keep busy but I don't believe that a job is all that can make life fulfilling.


When you get to retirement, there are no kids. If you did your job, they are making it on their by then. You will be board if you don't stay busy. So buy a camper and travel, see the world, feed the chickens. It does not matter. The issue is doing what you have to do early so you can do what you want to do later.

There are few things sadder for me to see than a Walmart greeter or a McDonald's order taker in their seventies. I could understand that in a socialist or communist country. But not in the U.S.

Moral of the story, remember the story of the lion and the gazelle.

*The Lion & the Gazelle* 

Every morning, the slowest running gazelle opens his eyes and the first thought that comes to his mind is "Today, I have to run faster than the fastest lion or I will be eaten alive!"

At the same time, the slowest running lion opens his eyes and the first thought that comes to his mind is, "Today, I have to run faster than the slowest gazelle or I will starve to death!"

Wheather you are a lion or a gazelle, tomorrow morning when you open your eyes, you better start running!


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## Pounder (Nov 28, 2020)

avenge said:


> But your hand would have blisters.... well in your case two fingers.


Don't be absurd, I'd sub that out to a professional.


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## KAP (Feb 19, 2011)

If there is one thing I try to convey to as many young (and older) people who'll listen is to treat your retirement contributions no less important than your regular bills and develop assets that will bring you residual income. It needs to be a must-pay "bill", not an after thought after everyone else has been paid if you have anything left over...


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## Randy Bush (Mar 7, 2011)

KAP said:


> If there is one thing I try to convey to as many young (and older) people who'll listen is to treat your retirement contributions no less important than your regular bills and develop assets that will bring you residual income. It needs to be a must-pay "bill", not an after thought after everyone else has been paid if you have anything left over...


For one reason or another that is not always real life.


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## Randy Bush (Mar 7, 2011)

hdavis said:


> Should have been a dirt guy, lol.


I do know how to operate a backhoe and skidsteer , so got it made. LOL


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## letgomywago (12 mo ago)

When you get to retirement, there are no kids. If you did your job, they are making it on their by then. You will be board if you don't stay busy. So buy a camper and travel, see the world, feed the chickens. It does not matter. The issue is doing what you have to do early so you can do what you want to do later.

There are few things sadder for me to see than a Walmart greeter or a McDonald's order taker in their seventies. I could understand that in a socialist or communist country. But not in the U.S.

There more to life than work dude. I've saved up and will continue but the point im making is money and work isn't it. It's important obviously but working hard to make a lot just to slow down and do what is fulfilling isn't better than working less and focusing on more important things. 

Work doesn't make free BTW.


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## Pounder (Nov 28, 2020)

letgomywago said:


> When you get to retirement, there are no kids. If you did your job, they are making it on their by then. You will be board if you don't stay busy. So buy a camper and travel, see the world, feed the chickens. It does not matter. The issue is doing what you have to do early so you can do what you want to do later.
> 
> There are few things sadder for me to see than a Walmart greeter or a McDonald's order taker in their seventies. I could understand that in a socialist or communist country. But not in the U.S.
> 
> ...


It all depends. I'd rather work at the Homie Depot than sit on my ass all day.


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