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I'm planning on retiring. What to to afterwards?

bczoom

Super Moderator
Staff member
GOLD Site Supporter
I'm thinking of retiring next summer. I'll be 53.

But now I need something to do.

Thinking about picking up some real estate and either rent or flip them.

Maybe buy a gun store?

I have about 100 cord of wood to harvest but that's mainly exercise. Not a lot of money in it.

Spend about 2 years cleaning out my buildings...

Ideas?
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
I'm liking commercial/industrial real estate for income with triple net long term leases.

In the current economy I would not buy a strip mall or similar.

Houses can be good, we've flipped some. But buying right is critical. I don't want to be a residential landlord but its the right move for some folks.
 

bczoom

Super Moderator
Staff member
GOLD Site Supporter
I'm meeting with a realtor tomorrow to sell a commercial property I currently have.

I like the idea of commercial/industrial but really want to see whom our next President will be. If it goes D, I'm thinking of sticking with residential. If it goes R, leaning towards commercial/industrial.
 

jpr62902

Jeanclaude Spam Banhammer
SUPER Site Supporter
You better know what you're doing with real estate -- especially when leasing residential property. Although this isn't a bad time to be in residential rentals -- lots of folks don't want, or know how, to own their own house so they'll pay through the nose for a decent rental. Make sure you know your landlord tenant and discrimination laws real well.

If you just want sumthin to do, take up SCUBA. It'll take care of all that extra cash you've got laying around and cluttering up the place, too.
 

MrLiberty

Bronze Member
Site Supporter
Go into politics, run for your local city council, then move on to bigger and better things. :whistling:
 

Doc

Bottoms Up
Staff member
GOLD Site Supporter
Hey I'm about there to BC (retirement). I know I will tinker but not sure what I'll jump on. If you have extra cash burning a hole in your pocket and dont' want to scuba buy a boat or a couple horses. Either will make the cash disappear and hopefully give you hours of fun.
 

waybomb

Well-known member
GOLD Site Supporter
Save your money, don't buy a boat.

I'll charge you say, 200 a week and I'll let you pretend you own my boats. I'll let you clean the birdcrap off, wax them, change the oil, and other minor things.

It would be like owning a boat but incredibly cheaper.
 

Snowtrac Nome

member formerly known as dds
GOLD Site Supporter
gee waybomb that's just what I was thinking get rid of the kids and buy a boat and do a bit of travel.
 

Catavenger

New member
SUPER Site Supporter
Do something online. I am disabled (with seizures,memory loss etc.) and have a lot of time on my hands. As a way to keep my mind going, I continued to work on and expand a previous website.
I don't even know (offline) that many people, yet I have had two want to make them commercial webpages.
I tried to explain how easily they could make one for themselves.
I also made (closed now) one for our neighborhood group.
I mentally and physically would be overwhelmed (and loose S.S. disability) if I tried to do anything like that.
But you could do it. Learn some basic HTML code (I got one of those "For Dummies") books. Web hosts providers have so many online tools that you could still make a halfway decent website knowing next to nothing.
Tell your friends and colleagues (who have businesses) that they would have more business with online advertising. Offer to make them a website. For a fee of course.
Since I think that in this day and age business people really do need (or at least can use) a website. You would be doing them a favor and making money for yourself.
 

mla2ofus

Well-known member
GOLD Site Supporter
BC, the day I retired from a really physical job I told myself "DO NOT PHYSICALLY SLOW DOWN". I watched some of the men I worked with retire, go home and sit in the recliner and they were dead within 2 years. I'm not a sports or exercise nut but I find plenty to do around home to keep myself moving.
Mike
 

EastTexFrank

Well-known member
GOLD Site Supporter
BC, the day I retired from a really physical job I told myself "DO NOT PHYSICALLY SLOW DOWN". I watched some of the men I worked with retire, go home and sit in the recliner and they were dead within 2 years. I'm not a sports or exercise nut but I find plenty to do around home to keep myself moving.
Mike

I'll second that. I officially retired 17 years ago and I can truthfully say that I've never been busier. That's partly due to the fact that I'm a lot slower these days. There's plenty to do around the place and even in 100° temps I still put in a few hours a day ... usually. Just don't stagnate. If you do we'll be taking up a collection for flowers for your funeral in a very short time. Keep your mind and body busy and you could live forever. :w00t2::w00t2::w00t2:
 

NorthernRedneck

Well-known member
GOLD Site Supporter
Doesn't matter what you do to stay active. Just stay active. I've seen so many people work their butt off till they are 65 then just sit at home waiting to die.

Sent from my SM-G900W8 using Tapatalk
 

Galvatron

Spock and Galvatron < one and the same
Reality check...

Retirement my arse you are looking at a career change, one where you can slack off and piss your pants and not be judged by anyone but yourself ( and the wife as she will be your new CEO) , how do i know well the fact is i career changed 10 years ago, i do what i want when i want and if the bills are paid i really do not give a f*ck, Mrs CEO don't give a f*ck either as long as i dont go sticking my nose in her veggie patch, well thats not quite true we get stuck in to the veggie patch more now than ever :yum::yum::yum:

Retirement is when you give up and sit in a rocker on the front porch chewing tobacco shot gun at hand shouting "get off my lawn" ....saying that it is a fun past time :yum::yum::yum:

whatever you do just know this....you have worked hard in your life and deserve to slack off and have fun.

Respect Sir.
 

squerly

Supported Ben Carson
GOLD Site Supporter
Guess it depends on your financial position. Trish and I worked until all our property was paid off and then we sold our business. The cash we got from the sale we used to buy some fixer-uppers, which I made into nice places and then we rented them. We currently have 9.

Between the rental income and my SS (rental doesn't count against the SS) we pull in enough to live pretty well. And if necessary, we can sell a house or two and generate some instant cash. We bought in the right areas and have good tenants. It's working for us. But if the election goes the wrong way, we'll probably move to Panama or Nicaragua.
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
Reality check...

...
Retirement is when you give up and sit in a rocker on the front porch chewing tobacco shot gun at hand shouting "get off my lawn" ....saying that it is a fun past time :yum::yum::yum:

A lot of wisdom in that humorous passage :clap:
 

bczoom

Super Moderator
Staff member
GOLD Site Supporter
For real estate, if I do it, I'm going to do it slow and steady, especially if I opt to keep/rent the properties. I don't want to be a full-time handyman/landlord.

For I/T work, I'm considering "dabbling". I've been in I/T for 30+ years and may take up a little work. I'm thinking of doing it in conjunction with my daughter who's just started college seeking some sort of I/T degree.

As for boats & SCUBA, would love to do both but I have rule for hobby machines in particular. If I can't pull it out and immediately start using it right on my property, I won't have one. I did have boats in the past. The closest water big enough is the rivers but they're about an hour away. Until the weather changed my plans, I was heading up to Lake Ontario tonight to spend the weekend jet skiing on my sister's machines.

Physically, I stay as active as I can but I don't do anything strenuous activities on hot days. Also have a bad hip but working on possibly getting a hip replacement.

Galvy - I will do my fair share of "front porch sitting". When weather is like it is now (90°+), that's how I do spend some evenings. Did that yesterday until the sun went down enough so I could pull the onions.
 

bczoom

Super Moderator
Staff member
GOLD Site Supporter
Well, here it is. As of 10 minutes ago, I'm done working. :)

I may take a job here-and-there but I like to consider myself officially retired!
 

tiredretired

The Old Salt
SUPER Site Supporter
Well, here it is. As of 10 minutes ago, I'm done working. :)

I may take a job here-and-there but I like to consider myself officially retired!

Congratulations. Now be prepared to really start working, if you own property that is. Between my household .9 Acre and my small 5.5 Acre wood lot I can keep as busy as I need to be and then some.

The difference is I am my own boss now.
 

bczoom

Super Moderator
Staff member
GOLD Site Supporter
Thanks.

I have a whole list of things to do around here. Most of which are things I enjoy doing anyway.
 

waybomb

Well-known member
GOLD Site Supporter
Good for you!
If you are looking for something to do I have a lot of stuff that could use waxing!
 
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