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That is probably going to happen for years until they have the next generation all trained up and taking over. Unfortunately, you are a man of your word so you will continue to help the owner (probably until you are drooling and need help changing your Depends -- LOL).
yep …
i was there for 26 years ….we went from an 8 man operation maybe 2 million a year in business
today they are 150 million dollar company with 350 employees , plus 57 open job positions to fill ,all owned by one man .
he left it open ended for how much time i want to work , he said he will take as much time as i want to work .
but once i go in , i may as well work the whole day ….so half days are really no bargain
so now to appease my wife we are taking all the pay checks and not throwing it in my 401k and she is now busy planning all these 2 night stays at these swanky spa/ resort.
i think she just booked a mystic aquarium in CT trip , plus the mystic seaport , and some expensive place called waters edge spa and resort
Last edited by mathjak107; 09-02-2023 at 01:26 PM..
We necessarily must delay, until we're psychologically ready. Psychology is vastly more important than literal money, or even, for those so inclined to thus prioritize things, physical health.
i was there for 26 years ….we went from an 8 man operation maybe 2 million a year in business
today they are 150 million dollar company with 350 employees , plus 57 open job positions to fill ,all owned by one man .
he left it open ended for how much time i want to work , he said he will take as much time as i want to work .
but once i go in , i may as well work the whole day ….so half days are really no bargain
so now to appease my wife we are taking all the pay checks and not throwing it in my 401k and she is now busy planning all these 2 night stays at these swanky spa/ resort.
i think she just booked a mystic aquarium in CT trip , plus the mystic seaport , and some expensive place called waters edge spa and resort
My Big Sis told me a long time ago when she wants to punish her husband she spends his money. So, there's that.... Sounds grueling LOL ... Who wants That much forced R&R - LOL.
i was there for 26 years ….we went from an 8 man operation maybe 2 million a year in business
today they are 150 million dollar company with 350 employees , plus 57 open job positions to fill ,all owned by one man .
he left it open ended for how much time i want to work , he said he will take as much time as i want to work .
but once i go in , i may as well work the whole day ….so half days are really no bargain
so now to appease my wife we are taking all the pay checks and not throwing it in my 401k and she is now busy planning all these 2 night stays at these swanky spa/ resort.
i think she just booked a mystic aquarium in CT trip , plus the mystic seaport , and some expensive place called waters edge spa and resort
It's a nice aquarium, or was when I was last there, which, now that I think of it, was 20 years ago.
When Covid hit I did a refinance to 2.5% for 15 years. This allowed me to keep funding retirement as I was before and now allowed me to be mortgage free a few years before retirement. And saved me $1,000’s in interest from the 30 year mortgage.
It was a no brainer. One of the best moves I ever made.
Depends on how much the Mortgage is. If ones income can cover the mortgage, and one still have funds to deal with other basics, and some income cushion to deal with inflation and still have a means to enjoy some things, as well as plan for excursions...
I don't see a problem with having a mortgage when one retires.
Dream homes are mostly for the youthful... Because when one gets old, they are not going to utilize every room in some big luxurious home.
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I had some relatives who had amazing homes with lots of rooms and amenities, and as they reached a certain age, they basically only used a few rooms, and as they got even older, they were ready for bed before 8pm.
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I find I don't use all the rooms in my house on any level of frequency. All the rooms are nice.
But on a daily basis, what do most of us use. Bedroom, Bath, Kitchen, Den, Laundry Room for some, ( Home Office, and maybe an Arts or Craft Room ).
I think it's good advice for poor people to have the mortgage paid off and here's why:
1) Poor people quite likely don't have the knowledge or willpower to make good investments. So the idea that they can just funnel extra money into investment is projection.
B) poor people are more likely to be targeted by predatory businesses.
C) then there are relatives, neighbors and friends who are likely to be poor themselves. Poor people are statistically more generous and it's easy to pull money out of a savings/investment account to help.
So how do poor people find money to pay off the loan? Perhaps they bought the house 30+ years ago. Poor people are less likely to be on the keeping up with Joneses treadmill. Also poor people get windfalls. Disability payments, accident settlements, small inheritances and life insurance. That can be applied to the mortgage for a more secure retirement.
Then let's not forget Medicaid if a nursing home is needed. Why burden the spouse with a mortgaged house.
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