Retirement Ramblings

[Transmission Repair]

Like many males, what I did for a living was my identity.   Since I retired, I feel as if I have lost my identity.  I’ve been self-employed for the majority of my adult life.  I semi-retired at 60 and fully retired at 65.  I’m currently 67 and don’t have any worries outside of the feeling of my loss of identity.

 

It’s funny how that works.  Retirement is nothing like I had envisioned when I was younger.  I’ve become a couch potato and don’t do anything to speak of.  No schedule, no calendar, and no obligations.  My wife does more than I do.  

 

My stepson lives with us and is turning out to be more of a caregiver than a 38-year-old.  I can say the same can be said of my 64-year-old brother who lives in his motorhome parked on our property.  Neither one pays us rent; we exchange free rent for caregiving and household chores.

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WHAT I LEARNED BY RETIRING:

A comfortable retirement is what you’re really working for. (mindset)

Don’t let your daily work chores & live drama shorten your vision.

Many shops have nothing to sell other than tools and equipment.=poor or

 no retirement planning.=no retirement plan.

(Only if the property is worth owning.)

10-year Lease to own = higher rent.  Investment into your future.

Turn your rent into mortgage payments albeit higher rent.

No rent, property taxes, repairs on bldg., etc. for the owner, triple net disappears

Do it legally through a title or escrow company; no personal owner finance.

Get in 1st lien position.

No early payoff penalties, no accumulated late charge fees.

(Accumulated late charges can be equal to or surpass payoff amounts.)=bad deal.

Divide the number of monthly jobs into the rent:  (example 25 jobs a month / $11,000  = $440 per job in just rent, not parts, not labor, not utilities.  Do your own math. 

[Joe Marconi]

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[Jerrys Auto Center]

So apparently I’m the kid here at 66😬, 

I still work Monday-Friday, 8-5 but have toned things way down! We’re a shop of 2 1/2 techs and myself. We’re in the community since 1979, on 3rd generation customers. We’ve had no issues closing for extended weekends and at least 2-3 weeks a year for “Mental Health” time off. 
If I close, Yes, my guys get paid. 

We’re actually talking about going to a 4 day work week, possibly with alternating 4 day weekends. Week 1 would be Monday to Thursday, Week 2 would be Tuesday to Friday. 
I have found that if you stay profitable, and loyal customers allow you to do that, you don’t need to work like an animal. 
My wife and I both take weekly salaries, I pay myself a real rent every month and I really don’t mind going to “Club Jerry”  during the week.
I have typical Motor Head hobbies… motorcycling, snowmobiling, hot rods, etc. and all the friends that go with it!!

I’m enjoying life just as it is. 👍

[Joe Marconi]

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[xrac]

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[Joe Marconi]

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[xrac]

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[Joe Marconi]

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[Transmission Repair]

Few people talk about retirement because it's so personal.  Everybody is different.  I personally know 2 different local shop owners still working in their respective businesses and they are both in their 80s.  I'm 68 and could never even dream about running a shop in my 80s.  Maybe they both like to work.  Maybe they can't afford to retire.  No matter the reason, I'm glad I'm not in their shoes.

I've been retired since 2020 and retirement is not what I had envisioned.  I feel like it's a major victory that my wife and I can live our pre-retirement lifestyle during our retirement years.  While on the surface it looks good, I find myself gaining weight due to my low activity level.  I was at the doctor's office yesterday and I couldn't believe my weight is up to 271!!!  Wow, that's a 70-pound weight gain for me; I'm 6'0" tall.  I always envisioned retirement as pretty much doing what I wanted, including doing nothing.  However, I find myself missing the daily routine of having to be to work by 8:00 am and working until 6:00 pm.  That completely blindsided me.  I didn't know being unproductive would be such a detriment to my health.

While I do enjoy writing, it's not everything.  My sister suggested that I write a book, more like an autobiography.  I don't think anybody would read it.  From the outside looking in, my life has been pretty boring and nobody is going to read a boring book.

During my first year of retirement, I drank a lot of beer.  However, that was short-lived.  One of the few things positive that has happened in my retirement today is that I consume much less beer.  I used to really enjoy beer, but not so much nowadays.

If I had to give a piece of advice to someone contemplating retirement is that everyone should have a hobby or part-time job to keep themselves busy.  There are only so many "honey-dos" a guy can do.  My wife keeps herself busy with a couple of hobbies.  She sews quilts and blankets, plus works jigsaw puzzles in between.  Not to mention cooking and cleaning.  As comparatively more active than myself, even she's putting on a few pounds, too.

Taking my own advice, I need to find a hobby or part-time job to keep me busy.  I have no idea of either.  Stay tuned, I'll keep you posted.

[bantar]

On 5/4/2023 at 10:45 AM, Transmission Repair said:

While I do enjoy writing, it's not everything.  My sister suggested that I write a book, more like an autobiography.  I don't think anybody would read it.  From the outside looking in, my life has been pretty boring and nobody is going to read a boring book.

I'm not much of a reader.  I'm going to wait on the movie to come out and couch-potato it.   I'm expecting to see some Rocky-like scenes with you in the gym working off them retirement pounds for your comeback move!

[Transmission Repair]

5 minutes ago, bantar said:

I'm not much of a reader.  I'm going to wait on the movie to come out and couch-potato it.   I'm expecting to see some Rocky-like scenes with you in the gym working off them retirement pounds for your comeback move!

You make me laugh.  There are a lot of people in our industry that aren't much on reading.  They are more visual and hands-on when it comes to new information so don't feel alone.

Actually, all of my employees weren't much at reading.  When transmissions became computerized they couldn't "see" things that were wrong like a sensor, pressure switch, or solenoid.  Proper diagnosis could only be learned by reading.  I was the only guy that liked to read so all of those "transmission electrical problems" fell into my lap.  I was the guy that had to not only diagnose the problems but fix it as well.  I'm certainly glad I'm not in the business anymore because transmission electrical problems have only grown.

[bantar]

😁  I should say casual reader...  you won't find me reading a book for fun.  However, I pound-down technical data though.   My guys are at their computers often researching the system info, although this week, one was off on the model year and wasted some time because it changed that year.  For a short while, we had one that didn't bother.... reading... tightening bolts... etc.

[Transmission Repair]

34 minutes ago, bantar said:

😁  I should say casual reader...  you won't find me reading a book for fun.  However, I pound-down technical data though.   My guys are at their computers often researching the system info, although this week, one was off on the model year and wasted some time because it changed that year.  For a short while, we had one that didn't bother.... reading... tightening bolts... etc.

Oh, I get it now.  I prefer reading technical data myself; or anything pertaining to transmissions or drivetrains.  It's not only more relevant, but it's more succinct.  Over the years, that has morphed into reading sales, management, and marketing material as opposed to the technical.  When I go to expos and seminars I always take the management track, not technical.  Today, I read some technical, but mostly management and marketing.  The hardest thing I had to learn was how Google's PPC and call tracking worked.

Edited May 5, 2023 by Transmission Repair
Added one line of text.

[weighit]

Wow, reading about the retirement life you have, nothing like what I did. Sold the business, bought a large truck and 5th wheel a few months before the sale and once the money was in the bank, hit the road. Lived 8 years traveling around the USA exploring what this country has out there. While traveling found another business I started weighing rv's by wheel position, tire safety was the reason. What air pressure was needed to be safe, so that not only kept us busy, but brought in a bit of money to further the life style. I was 53 and my wife was 51 when we hit the road. We found a foreclosed home in 2010 we just  could not pass up and ended up stopping our full time travel adventure. Still travel about 5 months a year in a motorhome now. Life it all you want it to be, but sometimes you actually have to go look for the fun.