Whats your number?

[FB7777]

Had a great weekend away with my wife and our best friends.

He's a sales guy with a Limo company and between politics, kids and retirement we got to discussing our exit plans

He's around my age and getting tired of the grind like me ... he's looking to be done at 60 while I'm looking at 55 as my tapout age

Both of us , with the help of financial guys , have a plan in place to fulfill our monetary goals.

After 25 years in this racket , I'm thrilled to have only 8 years left full bore.

Which , as I'm sure as I reflect in later years is somewhat sad... I only ever did this for the money.

 

[Desk Jockey]

Thats awful young to retire Fred, what are you planning on after this gig? Full time volunteer coach?

 

[Newman]

I just refinanced my house last week so I need another good 30 years, 77 is my number!

 

[FredC]

155 or so

I should probably start eating better and exercising more........or I might not make it

 

[mirf]

No age. Unless I am away or have plans I don't like sitting at home. Service work with the Boy Scouts but my son is out in 4 years as an eagle scout I hope. I might make till I am 60 (7 more years) but then they will have to camp in a hotel with a bed for my old bones.

 

[Greg Cole]

I haven't set one. As a young man I set 30 as my retirement age. At 30, i said - 35. At 35 i said 40. At 40 i said, ok this is dumb - I love what I do and will continue to do it until I don't enjoy it anymore.
That is still my opinion.
My opinion has always been this: Live way below your means now so you can live far above your means in retirement. Retirees grow restless and start looking for things to do. Be sure that your exit strategy allows for this. If and when I retire (provided i don't drop dead) I will go into charity work. i have no idea what charity at this point but I like the idea of being able to get the satisfaction of achieving something without having skin in the game.....

 

[Desk Jockey]

I think I'd do as my father and show up less but I do not plan on an actual retirement.

 

[Steve Toburen]

I think I'd do as my father and show up less but I do not plan on an actual retirement.

And that would be different how...?

Steve

PS You know I couldn't let that one by, Richard. Thanks for the soft pitch!

 

[Desk Jockey]

ummmmm....basically the same but at least it would be official!

PS You know I couldn't let that one by, Richard. Thanks for the soft pitch!

That must have looked like a mellon and you couldn't wait to swing huh?

 

[dealtimeman]

I think I'd do as my father and show up less but I do not plan on an actual retirement.

Did start your unofficial retirement already?

 

[Desk Jockey]

Did start your unofficial retirement already?

Ummmm......it was either this or talk to you on the phone.....and.....well...... you can see I'm here everyday!

 

[FB7777]

Lots of things I'd rather be doing than this.

Greg COle has the right idea, charity will play a larger role in my life... PAN MASS challange, golf tourneys, more time assisting my kids, more vacations with my wife.

DOubt I will outright sell my operation, probably step further and further back, purchase a commercial building and run it from a build out space with a manager.

Looking to step away from the day to day crap and responsibility of always having to make the decisions


Who knows, but I like my options... 30 + years is more than enough time to invest your professional life in one direction


or maybe I'll just snatch the job at JonDon that Tooboring has ... he should be incontinent and drooling by the time I hit 55

 

[Zee]

I'll just snatch the job at JonDon that Tooboring has ... he should be incontinent and drooling by the time I hit 55

oh crap... Steve- someone is gona slap that high served ball down asking something like "I thought he was already all that??"

 

[Zee]

My retirement number is when they close the lid on me... I don't wana stop working and become old on a volunteer base.

I would rather restructure my business where I can do a job a day as a non profit organization and work for needy homes and shelters by cleaning their floors etc.

 

[Jimmy L]

I don't see my self retiring and I'll probably never know anyway. You see my family suffers from DEMENTIA.
At this elevated age that I am now I can see my future where I will be confined in a special ward inside a county home.
A very special ward not unlike the Koo Koo's Nest.....a large room with all of my friends....special friends.
I'll be sitting in my chair where they will push me in front of a window where I can talk to the birds and squirrels.

And in a room that when people pass by they will look in....and see me....in a corner....grunting with my eyeballs bulging out as I GRIP my "Wand"
and quickly do a back and forth stroke..........like I remember when I was cleaning carpet.

 

[Desk Jockey]

Would it wake you up out of your dementia if when a friend visited you, they pissed on your leg for all the cruel things you said to them? Not that I know anyone like that but just incase it happens would you awake from it?

 

[Shane Deubell]

As soon as possible, i will find something else to do.

Probably end up in the 55 range, hopefully sooner.

 

[Jimmy L]

Like the warm PISS I'm feeling....right now?

 

[Mardie]

I will retire after i acheive God Statis in the carpet cleaning world.I will get bored after that and move on to another play venture as i have done in the past.

 

[Vivers]

I am 44 in Feb and plan on being out of the van by 50. I stopped doing all the wanding many years ago and do more quality control and customer relation stuff. But I don't think I ever will retire completely. I would be bored as I do like running my company and being out of the house a lot.

 

[trojancarpetcare]

Im hoping at the old age of 50 where i can just work about 15 hours a week all by choice.

 

[Goldenboy]

I agree Scrubbin toilets does wear on a guy.


Golden Boy

 

[Desk Jockey]

I don't mind scrubbin a toilet as long as my work is appreciated. I don't like it when you put out great effort (cleaning anything) and no one cares.

 

[BLewis]

Since I only started in this business at the young age of 50 my thought was this would be my retirement! 6 years behind the wand and I've already spent more time doing this (the wand) longer than originally planned. Although the wreck set me back a couple of years I plan on being mostly off the truck by the time I'm 60 and devote most of my time then to sales, etc. My plan is, by the age of 65 I can go fishing or whatever a couple times a week and do whatever with family on the weekends. I really have no plans to fully retire since I enjoy what I do everyday. I am fortunate that I can compare this to what I did for 34 years running and supervising restaurants. And because we clean alot of them I get reminded everyday of just how blessed I have been to get out of that rat race.

I feel extremely fortunate that my health and stamina are pretty good for a guy my age (I haven't found a 20-35 year old that can keep up with me yet!) however I am showing signs of wearing down in my old age. I hate that I got started so late in life in this endeavor but it is what it is and nothing that I can do about it now except to speed the building phase up as much as possible.

 

[FB7777]

I thought more people would weigh in on this subject with an actual plan

I'm even more,surprised no one brought up the financial side of reaching their number

 

[Mikey P]

2600 more supportive member sign ups and I'm good to go

 

[Hoody]

I'm 26, own the home I live in(its not luxurious but its a place to lay my head, cook food, and build memories with my son, when my family grows I'll upgrade and go larger, but really I could make it work here), drive a '09 Hyundai Elantra, and live very frugally. I pay my bills, take care of my son(now have custody he still sees his mother), have a little fun, but mainly re-invest money back into the businesses I have. I do put a few hundred into some investments I have every quarter. I'm hoping to be able to get my son through college, and eventually retire with them. I have a Franklin Templeton Investment Fund, Legg Mason, and Roth IRA, and some stocks that have been doing well. Profits from the stocks get shoved elsewhere they will gain more with compounding interest long term. When it goes high, sell off, and wait for it to drop again, buy back in, rinse and repeat. I have a finance guy that takes care of it all. I understand it to a point, but let the professional handle it so I don't do something stupid and lose my rear end.

 

[FB7777]

You can always keep the house you have, fix it the way you like or build on what you need.

At 26 you have your financial future by the balls Hoody... Good for you man.

Setting your investments on autopilot through auto withdrawal and treating it like a mandatory payment as critical as your mortgage or rent will guarantee a sound financial future

One better is setting up an automatic savings device for your children

You have a great savings timeline... Your children's from birth is even better!

 

[Hoody]

I set up a fund already for Ethan for college, same as I had. When he goes to college his tuition and books can/will be automatically withdrawn from it. Should he somehow get a full ride scholarship on academics or athletics then it will be saved for a rainy day, and I'll set an age to where he can gain control of it.

 

[Jeff Madsen]

My "number" and my reality are so far apart at this time it would be more accurate to call my financial plan a wet dream than anything else! Thank goodness I can work till I croak.