Good Retirement Businesses?

[harley]

Quote:

Originally Posted by flyfishnevada It was an idea. Has a lot of strings. Nevada requires 4 years as a sub guide before you can get a license. California will give a guide license to you if you have a pulse, but to be 100% legal you must get special use permits from all of the federal and state agencies who own the "public" lands I would guide on. It's not off the table, but it also would require lots of weekends and with kids, even though I'm retired, they still only get weekends of most of the year.

Quote:

Originally Posted by smjsl Sorry if I misunderstood but why not do the opposite (if you have enough money)? In other words, while kids are at home, retire. Once they are gone, do part-time work...

I agree. Also, depending on what the 4 years of sub guiding requires, maybe you could do that some during the weeks, and in 4 years you'll have your license and the opportunity. It could be that the guide companies don't have as many people available for mid week sub guide work, which I assume is much less lucrative. Although I admit I know exactly zilch about the subject. But by then it's possible the kids will not want/need you around so much. So you'll be freed up and ready to go.

[flyfishnevada]

Quote:

Originally Posted by jimnjana Flyfishnevada, The url Fly Fish Nevada is not available. You may want to register a similar domain name and use it as a basis for a related business.

You might want to check that again. I have it registered and pointing to my fly fishing blog. Good idea though.

[flyfishnevada]

Quote:

Originally Posted by harley I agree. Also, depending on what the 4 years of sub guiding requires, maybe you could do that some during the weeks, and in 4 years you'll have your license and the opportunity. It could be that the guide companies don't have as many people available for mid week sub guide work, which I assume is much less lucrative. Although I admit I know exactly zilch about the subject. But by then it's possible the kids will not want/need you around so much. So you'll be freed up and ready to go.

My idea is work when the kids are in school, but only part-time so I can still be involved in there lives, activities, etc. more than I am now. If that includes starting a business that can become low maintenance in some way, great. Then I can "retire" and the wife and I can begin traveling, maybe full time RV, etc.

I see the point though, but since school takes up so much of their time and I have some financial goals I want to meet after I begin receiving my pension in 5 months, I figure I could work part of that time. I also plan to do a lot of stuff for me. Fishing, golf, guitar, etc. But it's not like the wife and I can do any serious traveling, or begin full-time RVing (I guess could, but won't).

I've also seen a lot of ideas about handyman, yard work or car detailing types of businesses. I think all of those are great ideas. Very flexible, low overhead, low stress. Obviously, a lot of these depends on your situation and what else you are doing.

[brewer12345]

One last thought on a business: power washing. Around here, you could spend uner $1000 buying a power washer, related equipment and do a little advertising and easily gross $1000-2000 a month with modest effort.

[harley]

Quote:

Originally Posted by brewer12345 One last thought on a business: power washing. Around here, you could spend uner $1000 buying a power washer, related equipment and do a little advertising and easily gross $1000-2000 a month with modest effort.

I agree, an excellent part time business idea. One suggestion, though. If you go this route, learn how to do it properly. I've seen people who had powerwashers destroy the seal on their double paned windows, take the protective finish off of vinyl lawn furniture, and dig grooves into deck wood. It's not that hard, and I'm certainly not impugning your capabilities , but there's a little more to it than just buying a powerwasher.

[Ed_The_Gypsy]

brewer, Where is 'here'?

harley, very good advice.

Don't hire some kid (my son comes to mind ) to work for you. Skill is involved and care must be taken. Practice somewhere first.

[target2019]

Geese Chaser. I worked at a facility that had a pond. Once a day a guy drove by and let his setters loose. The geese left real quick.

The building owner pays the fee. Not sure if it's a viable business, but the employee dogs sure had fun.

[brewer12345]

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Originally Posted by Ed_The_Gypsy brewer, Where is 'here'? harley, very good advice. Don't hire some kid (my son comes to mind ) to work for you. Skill is involved and care must be taken. Practice somewhere first.

Central NJ.

[Ed_The_Gypsy]

thanx

[Ed_The_Gypsy]

target,

Geese chasing is a real job. There is a nice public park at the north end of Lake Washington in the Seattle area that became overrun with Canadian Geese who made a mess of the whole beach. The city tried various control methods, but they finally hired an old lady to wake her dogs there. It worked.

[tryan]

Quote:

Why not manage it yourself? Save the rental fees, costs less than $300 per yr in marketing

We do manage the unit ourselves (only the cleaning is hired out). Homeaway and VRBO do an amazing job for ~$300/yr. And the house is marketed year 'round. 4-5 months per year is all the market will hold.

The managment fees are the rates quoted when I tried to hire a manager. No way to make $$ that way.

Reminds of a friend renting out his golf course condo. First year he really didn't know what to expect. Management company runs the place like a hotel ... daily house cleaning. Was promised 10-12k/yr by them when he bought. Sooo June rolls around after zero-zip-nada all winter long. Calls and tells me he made 3k for the month of June. "WOW!" I said ... "I only hit for the last week in June - $1800 - up at the lake. Congratulations!" . "Yup" he says "just got my first check for $1000!". "Wait" I said "you said you hit for 3k". "I did" he says " management took 1k and house cleaning took 1k and I got what's left!"

No way to make money doing that.

[flyfishnevada]

Quote:

Originally Posted by tryan We do manage the unit ourselves (only the cleaning is hired out). Homeaway and VRBO do an amazing job for ~$300/yr. And the house is marketed year 'round. 4-5 months per year is all the market will hold. The managment fees are the rates quoted when I tried to hire a manager. No way to make $$ that way. Reminds of a friend renting out his golf course condo. First year he really didn't know what to expect. Management company runs the place like a hotel ... daily house cleaning. Was promised 10-12k/yr by them when he bought. Sooo June rolls around after zero-zip-nada all winter long. Calls and tells me he made 3k for the month of June. "WOW!" I said ... "I only hit for the last week in June - $1800 - up at the lake. Congratulations!" . "Yup" he says "just got my first check for $1000!". "Wait" I said "you said you hit for 3k". "I did" he says " management took 1k and house cleaning took 1k and I got what's left!" No way to make money doing that.

Only scenario I see a management company being good is if you don't need the income and you're happy just receiving a small pittance and getting the mortgage paid by someone else. Like I said when I started the thread, we've looked into it and thought about it a lot. I don't see it as being a full-time occupation. Actually anything but, especially considering all the internet tools and mobile phones. You could be on vacation, take a call, walk into a coffee shop fire up the laptop (or do it on your iPhone) and deal with the booking and be on your way. I realize there are some other things, cleaning, on going and emergency maintenance, etc., but if done right it shouldn't be a major hassle 90% of the time.

Am I wrong?

[tryan]

Quote:

if done right it shouldn't be a major hassle 90% of the time.

It's not a hassle ... it just doesn't make any money. All it can do is help carry itself.

[Kroeran]

Quote:

Originally Posted by Ed_The_Gypsy target, Geese chasing is a real job. There is a nice public park at the north end of Lake Washington in the Seattle area that became overrun with Canadian Geese who made a mess of the whole beach. The city tried various control methods, but they finally hired an old lady to wake her dogs there. It worked.

wonder what one of those Canada geese tastes like?



up in Canada, we just call them geese. (not)


Wawa Canada

[Ed_The_Gypsy]

Talked to my new landlady today. She is getting up in years and has a new knee. She was in pretty bad shape before that. She also was in construction for many years.

She told me that in her experience, there was a good living to be made as a carpenter who did small jobs for disabled seniors such as widening doors for wheelchairs, putting in ramps, installing handrails, lowering cabinets and otherwise renovating kitchens to suit people with physical limitations.

[W2R]

Quote:

Originally Posted by Ed_The_Gypsy Talked to my new landlady today. She is getting up in years and has a new knee. She was in pretty bad shape before that. She also was in construction for many years. She told me that in her experience, there was a good living to be made as a carpenter who did small jobs for disabled seniors such as widening doors for wheelchairs, putting in ramps, installing handrails, lowering cabinets and otherwise renovating kitchens to suit people with physical limitations.

That's a terrific idea. Handrails, ramps, wider doors, and so on can allow seniors to continue to live independently longer. When I get older I will want such changes in my home. Demand for such work should increase, too, with baby boomers getting older every year.

[MuirWannabe]

I confess to knowing nothing about the business. But I've wondered sometimes about owning a storage rental facility. Seems low maintenance. And heavens knows people have too much stuff and always need storage space. If it's profitable maybe you can get someone to manage it for you. Just a thought... similar to the laundromat idea.

[flyfishnevada]

Not that I am seeking to end this thread as its very informative to me and others I am sure, but I am strongly considering getting into custom fly rod building. Its something I have done before as a hobby and I love all things fly fishing. Some of the comments kind of steered me in that direction. Sometimes the most obvious answer is the hardest to see. I am only researching now, but it has potential. It could even be taken on the road if we ever do the full time RV thing or done in a smaller house or a condo.

I am also considering some of the handyman/auto detailing/whatever type businesses also. Anything where I am the boss and I work when I want, where I want, is appealing.


Thanks for the replies and keep it up for future readers.

[Walt34]

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Originally Posted by Moemg I sell women's ( thirty somethings ) dresses and work clothes on ebay and I usually make about $1,000 a month with little effort.

There are a large number of auctions 'round these parts and I've often given thought to going to them, buying oddball stuff and selling them on Ebay or Amazon auctions. One guy where I work bought a dozen used lawn mowers for a dollar each at a fall auction and sold them in the spring for $50 each. Storage is obviously an issue but I like the numbers.

That's "Plan B" for when I decide to leave my current post-retirement job.

[flyfishnevada]

My mom buy jewelry and antique glassware at thrift stores and resells on Ebay. Don't know how much she makes, but she complains its too little. Then again she complains she can't retire because she doesn't have enough money even though she has a fantastic COLA'd pension. Maybe I should turn her onto this site.