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Post by biglakebass on Aug 9, 2017 10:44:27 GMT -6
Ditto
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Post by Foggy on Aug 9, 2017 11:06:36 GMT -6
When I was in my thirties and working for someone else......I decided the only way I could achieve my dreams was to go to work for myself. Once I started down that path at about 40 years old (of my own company).....finances improved in a hurry.
I'm sure I could not have achieved my dreams by working for someone else. I needed to run my own game and do it my way.....not so much for the money....but in order to "succeed" at my dreams. Of course the money comes along with success. Retired at 55....with some consulting and other biz ventures....until 2008 when the economy was in the toilet. Decided I liked being retired.
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Post by badbrad on Aug 9, 2017 11:10:13 GMT -6
When I was in my thirties and working for someone else......I decided the only way I could achieve my dreams was to go to work for myself. Once I started down that path at about 40 years old (of my own company).....finances improved in a hurry. I'm sure I could not have achieved my dreams by working for someone else. I needed to run my own game and do it my way.....not so much for the money....but in order to "succeed" at my dreams. Retired at 55....with some consulting and other biz ventures....until 2008 when the economy was in the toilet. Decided I liked being retired. I have a friend that started a die business shop 8 years ago. To this day he works 80-100 hours per week and sure he is making some money but not getting rich either. That is where I would be concerned I would end up. There are people that should be owners of business and there are people that should not be. I pretty much put myself in the should not category. |
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Post by Foggy on Aug 9, 2017 11:13:24 GMT -6
When I was in my thirties and working for someone else......I decided the only way I could achieve my dreams was to go to work for myself. Once I started down that path at about 40 years old (of my own company).....finances improved in a hurry. I'm sure I could not have achieved my dreams by working for someone else. I needed to run my own game and do it my way.....not so much for the money....but in order to "succeed" at my dreams. Retired at 55....with some consulting and other biz ventures....until 2008 when the economy was in the toilet. Decided I liked being retired. I have a friend that started a die business shop 8 years ago. To this day he works 80-100 hours per week and sure he is making some money but not getting rich either. That is where I would be concerned I would end up. There are people that should be owners of business and there are people that should not be. I pretty much put myself in the should not category. You gotta have a sound plan.....and a plan that has PROFITS in it! It took a long time for me to hone my skills......and you do that while working for somebody else.  |
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Post by badbrad on Aug 9, 2017 11:14:38 GMT -6
I have a friend that started a die business shop 8 years ago. To this day he works 80-100 hours per week and sure he is making some money but not getting rich either. That is where I would be concerned I would end up. There are people that should be owners of business and there are people that should not be. I pretty much put myself in the should not category. You gotta have a sound plan.....and a plan that has PROFITS in it! That's exactly what I thought about his business. Sure he has expertise in diemaking but it doesn't have enough profit margin to justify the workload and risk |
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Post by jbird on Aug 9, 2017 12:01:26 GMT -6
I'm a doer and not a manager. I can't manage. I wan't things done my way and I find it easier to just do it myself. As such I would be terrible at running a business......unless I was essentially the only employee.
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Post by MoBuckChaser on Aug 9, 2017 12:19:56 GMT -6
I didn't have any plan other than don't sit on my hands and wait for opportunity to come to me! I just new once I got my life on track it was balls to the wall as many hours a day as I could take and the wife and kids could take of me being gone working all the time. I took as many calculated risk a guy dare take. Had a great banker that trusted me enough to loan me gobs of money when the land and house deals were popping up all over in the mid 80's. I guess my plan, if I had one, was to make way more money than I needed at the time. It worked out good. I will say this also, once you have money, it's a lot easier to make money, but harder to hang onto. Because you have to much time now to think of things or land to spend it on.
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Post by Bwoods11 on Aug 9, 2017 12:37:06 GMT -6
There are a bunch of local retired guys that meet at a gas station for coffee (twice a day). They are so regular, that they plan their whole day around this?? Not me, sorry. Fishing, hunting, habitat work, traveling, that is my plan. Probably some drinking too (ha ha)!
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Post by sd51555 on Aug 9, 2017 12:56:40 GMT -6
Don't underestimate the power of simply not screwing up. I've always been a firm believer that everyone had a chance at getting ahead, and if they didn't, you could trace their plight back to a decision they made. I've shared my story before, but for you that haven't heard it, it's pretty simple. I had some really good years in the corporate world and socked away every penny in bonuses I ever got. At 35, that's simplified my plan so much that it could be scribbled on a cocktail napkin.
"Don't fuck up."
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Post by MoBuckChaser on Aug 9, 2017 12:58:54 GMT -6
Don't underestimate the power of simply not screwing up. I've always been a firm believer that everyone had a chance at getting ahead, and if they didn't, you could trace their plight back to a decision they made. I've shared my story before, but for you that haven't heard it, it's pretty simple. I had some really good years in the corporate world and socked away every penny in bonuses I ever got. At 35, that's simplified my plan so much that it could be scribbled on a cocktail napkin. "Don't fuck up." I agree, told all my kids that you can't make any easier money than not fucking up! Good call SD! |
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Post by jbird on Aug 9, 2017 13:46:46 GMT -6
My folks are contemplating retirement....especially my father after 40+ years in a factory. They are in their early 60's. I have told them point blank.....Don't leave us a dime, but don't leave us your bills, that's all I want. I realize things are not that simple, but I want to see them enjoy life while they can.....too often life is cut short or the body simply gets to a point where the mind is willing but the body isn't able. I understand the fear of running out of money.....but I have also seen people not do things because they felt like they had to leave their kids "X" amount of $ as well.....that's bullshit in my opinion.
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Post by biglakebass on Aug 9, 2017 13:51:28 GMT -6
My folks are contemplating retirement....especially my father after 40+ years in a factory. They are in their early 60's. I have told them point blank.....Don't leave us a dime, but don't leave us your bills, that's all I want. I realize things are not that simple, but I want to see them enjoy life while they can..... too often life is cut short or the body simply gets to a point where the mind is willing but the body isn't able. I understand the fear of running out of money.....but I have also seen people not do things because they felt like they had to leave their kids "X" amount of $ as well.....that's bullshit in my opinion. Or the opposite. |
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Post by badbrad on Aug 9, 2017 14:03:50 GMT -6
How many people are healthy until they retire. Only to find out that once they stop being active they pass away quite soon after retiring. Say within the next couple of years. Seen it all too often. If you are gonna retire you better be ready to keep active otherwise you will just waste away.
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slugger
New Member
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Post by slugger on Aug 10, 2017 11:05:39 GMT -6
As I near retirement I have pondered the same thing. I chose to do what I was passionate about. The marine and snowmobile industries. Neither particularly high paying on the mechanical end of things. But I became very good at it and respected by my peers. I was able to work in the engineering dept of two boat mfgs and was a member of the ski doo factory race team for 10 years. Both afforded me travel opportunities that I would have never been able to afford on my own. Now I am in a profession that I am not passionate about and I am just hanging on until I can retire in a year or so. I would have been in great shape financially but I chose to get divorced at 58. Now I won't have unlimited spending but I will be fine. Everyone is different. I have never been motivated by money, more about being the best at what I do.
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Post by MoBuckChaser on Aug 10, 2017 11:09:05 GMT -6
As I near retirement I have pondered the same thing. I chose to do what I was passionate about. The marine and snowmobile industries. Neither particularly high paying on the mechanical end of things. But I became very good at it and respected by my peers. I was able to work in the engineering dept of two boat mfgs and was a member of the ski doo factory race team for 10 years. Both afforded me travel opportunities that I would have never been able to afford on my own. Now I am in a profession that I am not passionate about and I am just hanging on until I can retire in a year or so. I would have been in great shape financially but I chose to get divorced at 58. Now I won't have unlimited spending but I will be fine. Everyone is different. I have never been motivated by money, more about being the best at what I do. Divorced at 58? If I can ask, why the fuck did you wait so long? You could have killed her and been out by now. |
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