Retirement idea, looking for advice and/or pitfalls.

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I'm not even close to retirement yet but I feel like the odd man out when I suggest pulling the trigger at 62, paying $10,000 a year for 3 years for some cobra insurance.
 
The day I turned 16, I had an after school and 12 1/2 hr. job at the grocery bagging and keeping the dairy case full. 25 hrs every week. I liked being independent but I hated it.
But then an older guy told me once, " he said, boy, if you love what you do for a living...then you will never WORK a day in your life." He was right. I never again worked a day and hated my job.
When I was a kid, I also saw people work all their lives, just living to retire and do the things in life they always dreamed of. Then one day they retied, and a month or so later....DEAD. I told myself, I don't want to be that guy.
I might have "worked" sometimes 7 days a week, 12 hours a day, but it was never work.
I have worked hard all my life, but it never really was work.
 
Why would anyone today, put all the hours and so many dollars building a HIGH $ desirable car UNLESS for himself to enjoy.
But. Like a guy said, he spent $35,000 on his "baby" and he prays he can get his $$ back. But then there is the guy that explains, if he enjoys his car for 5 years, sells it and losses $10,000, it only cost him $2000 a year for that enjoyment!!!!! $165 per month, plus gas, oil and insurance!!!!:thumbsup:
Yup! I'm not looking at doing anything "high end" (Heck! My budget won't allow for it), but if I do run across something I want to keep for a while, that's the math to do.

And to which I ask (rhetorically): What price happiness (or enjoyment)?
 
I've been retired for 19 months. I feel blessed to have gone out the door from work at 62. No more work emails to keep me up til the wee hours. I can honestly tell you that this retirement "job" is the best "job" I've ever had. Clearly I was built for this!!

I do whatever I want when I want. Or do nothing if I want. I volunteer with a church group building ramps and decks for needy folks. I continue to play golf with a fun bunch of old geezers like me. And I get to be in my "barn" (what I call my shop) working on things I always wanted to as much as I want.

So we all need to earn a living and when/if you can save enough to make the plunge, I highly recommend this thing called retirement! FWIW.
 
I sold a 2001 Pontiac Transam convertible for about twice what I paid for it after 5 years at the Mecum auction in December. Didn’t do hardly any work on it. I think the newer (90s, 2000s) sports cars have a broader market than the 60s & 70s, and there are more of them in better shape. A lot of the older cars are becoming price prohibitive.

This was the first time I ever made money on a car, so maybe it was a fluke.
 
I sold a 2001 Pontiac Transam convertible for about twice what I paid for it after 5 years at the Mecum auction in December. Didn’t do hardly any work on it. I think the newer (90s, 2000s) sports cars have a broader market than the 60s & 70s, and there are more of them in better shape. A lot of the older cars are becoming price prohibitive.

This was the first time I ever made money on a car, so maybe it was a fluke.
I tell you what.....some of them cars along those years would sprout wings and FLY.
 
I sold a 2001 Pontiac Transam convertible for about twice what I paid for it after 5 years at the Mecum auction in December. Didn’t do hardly any work on it. I think the newer (90s, 2000s) sports cars have a broader market than the 60s & 70s, and there are more of them in better shape. A lot of the older cars are becoming price prohibitive.

This was the first time I ever made money on a car, so maybe it was a fluke.
I watch the Mecum auctions as they are "car shows" and I enjoy it. I wish the commentators were better at spelling out the clones form the real ones.
I agree, the right car out of the 90s, 2000s, is climbing in appeal and value and audience! The guys like me are aging out of the hobby, just natural selection. Few good 60s. early 70s "muscle\" car builder cars out there now, and where anyone can build it, make a profit even taking it to the Mecums.

Watch what the 40s, 50s cars are bring there, except the ALWAYS high tri 5 Chevy's!! I would love a 50s Ford or Dodge, but IF I had a good builder for agree, I would lose my butt when I would sell! In general, it is what happened to the Model T market decades ago. Same song, different verse! A local guy has a solid, running driving '50 Dodge Business Coup, worth the $ just down the road 20 mi. Hard to find such in even a rusted out overpriced roller. No it is not a Ford or Chevy, but I hope the seller finds it a loving home!
Yup! I'm not looking at doing anything "high end" (Heck! My budget won't allow for it), but if I do run across something I want to keep for a while, that's the math to do.

And to which I ask (rhetorically): What price happiness (or enjoyment)?
You CAN find some good 80s. 90s. pick,ups here in Tx. Easier in Ar, Ok, Ks though and cheaper in general. and closer for you. Bit it takes searching a lot (everyday) and being able to make the deal fast if a good truck priced right.
 
In general, it is what happened to the Model T market decades ago. Same song, different verse!
Same story with '40's, '50's, and '60's jukeboxes: The Supply is still out there (kinda, if you know where to look/who to call), but the Demand has all but dried-up, as the people who want them are "aging out", as you put it. (I like that phrase!). One of the reasons I'm giving that up as well.

Cars (and trucks), on the other hand....That's in my blood! :lol:
 
Same story with '40's, '50's, and '60's jukeboxes: The Supply is still out there (kinda, if you know where to look/who to call), but the Demand has all but dried-up, as the people who want them are "aging out", as you put it. (I like that phrase!). One of the reasons I'm giving that up as well.

Cars (and trucks), on the other hand....That's in my blood! :lol:
It is beyond being in our blood!!! It is a disease man!!!!!!! No cure, except the Grime Reaper!!!! :thumbsup: :thumbsup: :steering: :BangHead: :confederateflag:
 
Same story with '40's, '50's, and '60's jukeboxes: The Supply is still out there (kinda, if you know where to look/who to call), but the Demand has all but dried-up, as the people who want them are "aging out", as you put it. (I like that phrase!). One of the reasons I'm giving that up as well.

Cars (and trucks), on the other hand....That's in my blood! :lol:
yep. The amount of service providers has dropped off a lot recently, and many of the rest are on a short string. People complain about Chinese parts. Next stop - no parts. Well maybe JC Whitney.
 
Apologies to the OP. Didn’t mean to derail your thread.

But I will say I’ve adjusted my planning because of the changes in the hobby. It has shifted to - don’t wait, do what I want, drive them a lot, and don’t worry about cost, value and return. I’m okay if my cars become value-less.
 
We've been talking with our financial advisor about my impending retirement (which may, or may not happen, on Memorial Day now, but that's a different story), and we're setting up a budget/plan for some big ticket and/or recurring items in the future. For example:

* Summer of 2025: Insulate and build-out the shed/shop, $25k
* Winter of 2025/2026: Remodel master bath, $50k
* Summer of 2026: Replace siding and windows....(etc, etc)

One of our budget items is titled "Jim's Annual "Toy Car" Allowance", and we're budgeting $20k/year for engines, tools, paint & body, new cars, etc. I underlined the last one because my wife asked me some particulars about it ("You're not going to be buying a new engine every year, are you?"), so here's the idea with this one, once I get the new shop set-up:

* I've only purchased one new car in my life up here in MN, as not only are new vehicles outraegously expensive, in my opinion, but I don't like to think about the Depreciation that occurs the second you drive one off the lot.
* Used vehicles up here rust out within a year or two. (Exaggeration? Sure, but you get the idea.)
* All of my other vehicles have been used and/or "previously owned", and they have come from "elsewhere" (Oklahoma, California, Nebraska, Oregon, and Georgia, to name a few).
* I like to drive. Not fly, but drive, as in Road Trips.
* I've got a pretty good handle on some vehicle's worth, and I've never gotten screwed (knock on wood), but I'm not an expert by any means.
* I've flipped a couple vehicles in the past, but only because on both occasions someone gave me an offer I couldn't refuse. (Insert scene from The Godfather here!)
* Used, older vehicles (50-60 year old A-Bodies?) can be worth a heckuva lot more here than they are in, say, California or Texas...

So this $25k/year budget line item is for me to just "play" with cars: Find a used one out in, say, New Mexcio, or Washington, and bring it back here, do a spit and polish on it, and then either drive it for a while, or flip it. I'm not looking to make a living at this, nor do I want to do it so often that I have get a Dealers license (I've been looking into this as well). I just want to keep busy on my time, see the world, meet some interesting people, drive some back roads, and maybe make a buck or two on the side (for beer or bait money).

What say y'all?

Jim
Remodel master bathroom $50k?
 
Remodel master bathroom $50k?
Pretty easy these days. I spent about 40Cdn doing ours some 12 years ago and I did EVERYTHING other than the vanity. It was 14 alone.
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That custom shower enclosure looks to be about what we're thinking of doing. Right now there's an old Jacuzzi whirlpool tub in the master bath that neither of use, or even want to (there are nasty mold-like smells coming out the jets and drain, so we sealed-off everything), and come this summer, that (the tub) is coming out (with extreme prejudice!), and a nice, new walk-in (and "accessible") shower will be going in it's place next winter.

And that's only one side of the space...

Nice looking bath, by the way!
 
That custom shower enclosure looks to be about what we're thinking of doing. Right now there's an old Jacuzzi whirlpool tub in the master bath that neither of use, or even want to (there are nasty mold-like smells coming out the jets and drain, so we sealed-off everything), and come this summer, that (the tub) is coming out (with extreme prejudice!), and a nice, new walk-in (and "accessible") shower will be going in it's place next winter.

And that's only one side of the space...

Nice looking bath, by the way!
About 7 years ago we removed the Jacuzzi tub from the master bath and relocated the commode into the space while expanding the shower and redefining the layout for privacy and utility of access.

It was well worth the redesign. It’s amazing how much a master bath that functions well impacts daily life. Seems like it may be a silly thing…but it’s not.

Enjoying life in a home means enjoying all of it…and just as equally, not fighting with any of it.
 
About 7 years ago we removed the Jacuzzi tub from the master bath and relocated the commode into the space while expanding the shower and redefining the layout for privacy and utility of access.

It was well worth the redesign. It’s amazing how much a master bath that functions well impacts daily life. Seems like it may be a silly thing…but it’s not.

Enjoying life in a home means enjoying all of it…and just as equally, not fighting with any of it.
Precisely! We're moving things around as well to better fit our current, and future, needs.

Life's too short to live with something that isn't being used and /or doesn't fit your needs.
 
Yup! We have two "budget" Bids in-hand, and that's right in the middle of both of 'em.
DIY Bath remodel if you can pacify better half. That will keep you busy for sure and save dollars lol.
I went out on Disability in 2022 and wished I was still working in the business IF it was like my last gig 6 minutes from home but that is a whole different story.
 

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