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Posted
21 hours ago, Slacks said:

I still don't know exactly what I'd want to do, especially with AI changing the landscape so fast. 

I should start up a trade school for “AI Repair” - so the unemployed can get on the ground floor of a new exploding job opportunity…. After their check for the new term clears.

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Posted (edited)
6 hours ago, SydneyCarton said:

I remember when you were in on the drive through booze concept. Tell me about the 18 wheeler repair concept? 

If you get shitcanned you might consider being forced into the repair shop over the job slinging tech. But considering how repairs go, I'm not sure what kind of hook you're on in regards to replacement parts from China. A buddy of mine started a side hustle doing custom forks for small electric bikes. Business been great, but the uncertainty of when and how often he can get product has been more than just a mild headache. 

I think the repair shop sold. This was a while back (probably around the same time I was talking to you about things.) I have some buddies that sell big rigs, and they told me the money in servicing them can be fantastic - especially if you can get a handful of corporate contracts, which they have all the contacts to (and I would have paid them a sourcing fee for the hookup.) One of them was even pretty sure he knew who owned the company (I hadn't spoken to the owner yet, only a broker.)

The word I got was the biggest issue was always going to be keeping mechanics showing up consistently. I think I could have sorted that out. Then I started another job, made some money while sitting at home and Directing and... Here I am thinking about it.

Edited by Slacks
Posted
4 hours ago, Nice Guy Eddie said:

I used to work with a IT director who quit her lucrative corp job to open up a tanning salon. Perhaps she disliked IT and wanted a change, but for the life of me I couldn't comprehend that running that small business would preferable to a a high paying office job. Yes there are bad/stressful working environments, so why not try your luck at another company that gives you a large salary. The tanning salon idea could still be an option, and actually there is nothing preventing you from doing both simultaneously, unless it's your dream to actively work at the salon each day.

I've also run across some older coworkers who go the small business route during retirement because they are trying to get their wayward adult children to commit to a career by creating a job for them.

One of my peers owns saunas in the Midwest. He loves it... But he isn't giving up this cyber leadership money.

Similarly, one of his kids works for him... And yeah, I would love to hand a business over to my boys and tell them not to fuck it up and let it just be a lifestyle biz until it's time to sell.

Posted
4 hours ago, Slacks said:

Similarly, one of his kids works for him... And yeah, I would love to hand a business over to my boys and tell them not to fuck it up and let it just be a lifestyle biz until it's time to sell.

When my business partners and I started our company 7 years ago, this was the goal.  Then after a few years we realized the kids don't want to run our business.  So we're going to get it as big as we can in the next few years and sell it.  And then we can finance what our kids want to do.

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Posted
When my business partners and I started our company 7 years ago, this was the goal.  Then after a few years we realized the kids don't want to run our business.  So we're going to get it as big as we can in the next few years and sell it.  And then we can finance what our kids want to do.

This is what we’ve done. Wife and her brother grew their business and sold it a few months ago. We are both working until the kid is out of high school at the minimum.
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Posted

We can retire 2032-ish. State and teacher pensions. Year 1 would net about 110k gross (and that's 100% joint and survivor option, and 2% cola on ERS, a new option). We.can easily live on that and not touch pre and post tax retirement savings. On track for 7 figures. We would be about 52. Kids would be in college (529s funded well, at least for in state tuition). So earlyish retirement is possible... That had been my plan. 

But we could also retire and come back and work and save another $4 to $10k a month, and just stash it to pay for future grandkids daycare, college, etc. Feels kinds selfish to check out when peak earnings hits. I think I want to work 20-30 hours per week, and my wife's could permanent sub from Oct to April. Would be nice to hit national parks April/May and September/October. Maybe Colorado rental in thw summer. I guess we will just have to see how we are feeling when the time comes. My mom has dementia and is in memory care ($6300/mo) so I would like to make sure we could afford that (plus maybe assisted living for the other) for 1 of us should we need it. Don't want to be a burden. 

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Posted
19 hours ago, CleverNickname said:

We can retire 2032-ish. State and teacher pensions. Year 1 would net about 110k gross (and that's 100% joint and survivor option, and 2% cola on ERS, a new option). We.can easily live on that and not touch pre and post tax retirement savings. On track for 7 figures. We would be about 52. Kids would be in college (529s funded well, at least for in state tuition). So earlyish retirement is possible... That had been my plan. 

But we could also retire and come back and work and save another $4 to $10k a month, and just stash it to pay for future grandkids daycare, college, etc. Feels kinds selfish to check out when peak earnings hits. I think I want to work 20-30 hours per week, and my wife's could permanent sub from Oct to April. Would be nice to hit national parks April/May and September/October. Maybe Colorado rental in thw summer. I guess we will just have to see how we are feeling when the time comes. My mom has dementia and is in memory care ($6300/mo) so I would like to make sure we could afford that (plus maybe assisted living for the other) for 1 of us should we need it. Don't want to be a burden. 

I’m in the camp that everyone should work at least until their mid 50s given peak income potential. Now if you have $10m in the bank or family health problems, that’s another story. Most people in their 50s don’t have that large of a nest egg and they honesty have more time on their hands than ever before.

now if someone wants to take a less stressful role, or pull back from responsibilities, that’s cool. You still can earn a good income due to your experience.

Posted
On 7/13/2025 at 8:23 AM, Nice Guy Eddie said:

I’m in the camp that everyone should work at least until their mid 50s given peak income potential. Now if you have $10m in the bank or family health problems, that’s another story. Most people in their 50s don’t have that large of a nest egg and they honesty have more time on their hands than ever before.

now if someone wants to take a less stressful role, or pull back from responsibilities, that’s cool. You still can earn a good income due to your experience.

Speaking of stress levels... I did some executive coaching earlier this year thinking I wanted to be a VP at my company. But after 6 months of coaching, I decided that I'm perfectly happy where I am and the VP responsibilities will get in the way of family time.

 

I don't really account for it, but my parents have alluded that their brokerage account which I've been managing for the past 12 years will come to be at some point. That should get us to $12M by the time I'm 63 with both kids finally off the payroll. My wife and I aren't exactly frugal, but we easily live within our means. The difference with that amount of money would be we fly in economy plus for the extra leg room.

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Posted

Both vacations (Mexico & Canada) are done for the year so it's back to saving season. Wife's teacher bonus is a nice $13K this year coming in a few weeks which will push her to over $80K after her stipends. She is looking for a career change, but that's not bad money for only her 5th year teaching in Texas and not in DFW, Houston, or Austin. She's going to max out the IRA for the year and stick the rest in our HYSA to keep us at around a year's worth there.

One little thing that I've enjoyed doing outside of our retirement accounts is buying about $50/day of O just for income and slowly adding bills that are paid off of the monthly dividend. It would be better in the long run to stick it in an index fund, but I enjoy seeing the more immediate results while the retirement accounts cook.

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Posted
44 minutes ago, SimonBolivar said:

Both vacations (Mexico & Canada) are done for the year so it's back to saving season. Wife's teacher bonus is a nice $13K this year coming in a few weeks which will push her to over $80K after her stipends. She is looking for a career change, but that's not bad money for only her 5th year teaching in Texas and not in DFW, Houston, or Austin. She's going to max out the IRA for the year and stick the rest in our HYSA to keep us at around a year's worth there.

One little thing that I've enjoyed doing outside of our retirement accounts is buying about $50/day of O just for income and slowly adding bills that are paid off of the monthly dividend. It would be better in the long run to stick it in an index fund, but I enjoy seeing the more immediate results while the retirement accounts cook.

I had my Emergency cash in HYSA, but started putting extra cash in VCRM because of...taxes!

Now that HYSA rates have started coming down, I moved 2/3 of our emergency fund into VCRM.  Currently yielding HYSA rates without worrying about paying taxes on what's gained.

Vanguard has a few Muni-Bond funds to look at, both passively and actively managed.  Your mileage may vary, but check them out.

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