Retiring April 2009 at age 50, what should I do?

[Marc Goodin]

I have always enjoyed working but I have come to the point where I am ready to start enjoying retirement. I gave my 1 year notice and only have 6 months.

Just knowing I do not have to be committed every day, day in and day out make make me smile. I have enough money to live enjoy life - but not enough to give it away ( to kids ). So I thought:

1. buy a small 10 acre farm - loose some money but have fun with two cows.

2. spend alot of time fixing the farm up 4 or 5 year

3. Consult now & then (0- 10 hours a month) for give away money.

4. Look into on line businesses - where i would most likely have some fun - but loose money unless I got lucky.

5. Travel now & then - between cows.

6. Have the 2 college kids home for dinner once a week.

If i find a small farm - I should stay be busy for a while ( never have owned a farm before) but would be bored without a new major project - like a farm.

One alternative is rehab & sell single family house now and then - or maybe one for the kids?

Any ideas on great one to five year fun projects.

Retiring but love to work.

Marc

 

[Khan]

Just knowing I do not have to be committed every day, day in and day out make make me smile. I have enough money to live enjoy life - but not enough to give it away ( to kids ). So I thought:

1. buy a small 10 acre farm - loose some money but have fun with two cows.

2. spend alot of time fixing the farm up 4 or 5 year

Farming does require being committed every day, especially if those cows need to be milked.

 

[Moemg]

Welcome , My project is remodeling my house which was on the back burner when I worked !

 

[Marc Goodin]

I enjoy fixing the house as well - but over the last 12 years we have completley fixed up where we live - thats why we are thinking of moving - but have not had any luck finding a home with some land.

 

[Marc Goodin]

Your right - but a fun change of pace - but no milking beef cows

 

[harley]

One year notice?!? You are a really nice guy. I might have done a month, but that would be the max. I wouldn't trust them not to mess with me somehow with all that time.

 

[Rambler]

One year notice?!? You are a really nice guy. I might have done a month, but that would be the max. I wouldn't trust them not to mess with me somehow with all that time.

Yeah, but he already gave it, and is six months into it, so probably OK. Some jobs do require long notices, it seems...contractually mine is 9 months, either way, them or me, but they have the option to pay...

R

 

[travelover]

Welcome to the forum. I think you will be pleasantly surprised when you retire with respect to "keeping busy". Retirement requires a new way of thinking and over time the urgency to be doing something "productive" every minute diminishes - at least for many of us. And if it doesn't for you , the options are limitless, if they don't also have to also provide an adequate income.

Rest assured, it will be fine.

 

[friar1610]

Have you ever farmed before and do you know what you would be getting into?

I bought a place with 11 acres, most of it wooded. But I still have about 3 acres to maintain. No farming but lawn mowing, brush hogging, a couple of flower gardens and a small vegetable garden keep me plenty busy. Seeing how hard the farmers work around here, I would not personally want to get into doing that. I've thought about getting a few chickens to provide us with eggs or a couple of llamas because I think they're cool and they also eat a lot of grass which then doesn't have to be mowed. But I'm always put off by the need to be around to feed and care for animals.

My point is not that you shouldn't go with the 10 acres and 2 cows but that you really know what you're getting into before you commit. I personally find care for my property a really big job.

 

[rs0460a]

My point is not that you shouldn't go with the 10 acres and 2 cows but that you really know what you're getting into before you commit. I personally find care for my property a really big job.

Maybe 10 cows and 2 acres? ...

- Ron

 

[Marc Goodin]

If I don't find a new "farm project" just the right size i will take your advice and see what happens in the first year. Can always look harder for a project - if I find myself geting board.

 

[wheel9]

Have you heard the story about the farmer that won the lottery? Reporters asked him what he was going to do now. He said he would continue farming until the money was gone.

 

[Marc Goodin]

good one

How do you make a small fortune. Take a large fortune and start a farm.

 

[freebird5825]

welcome and congrats on your short distance to FIRE.

you have some nice dreams...but please do remember farm animals take a lot of work and expense, especially vet bills. maybe a simple crop like pumpkins or corn or even leasing the land to local hay growers may be an easier start.

a few ideas i see local folks doing... maybe these could fit into your "need to be busy"

- restoring a barn or outbuilding and storing autos and boats?
- opening a fall season only, country market operation (pumpkins and corn) and renting space for local craft artisans

FB

 

[harley]

Forget the cows. The future is - Emus. Below is DW rounding up a runaway from a nearby farm.

 

[freebird5825]

um...do they taste like chicken?