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  • Drain Cleaner Retirement Plan????

    Buddies, I am curious to know what type of retirement plans you guys have. When I use to teach school(Physical Education) we had a retirement plan that would have paid me at least $3,000 a month untill i die. Now that i am a full-time Drain Cleaner i wonder if there is something similar to that, that i can put money into now so when i get too old/sick to do this i will at least have a check coming in!!..I do know that i need to invest into a Roth I.R.A. and a Sep I.R.A. but is that it??...I want something like the teachers have that will pay you a monthly income untill you meet your maker!!..i guess that would be some type of annuity insurance plan or somethin. Also what type of disability plan to you guys have? If you cut your hand off tomorrow, do you have a special insurance in place that will pay you a monthly wage so your *** wont be in the poor house??...Now i know alot of you guys have wives and on their insurance plans and disability plans..but im talking abou t the Lone Soilders out there like me who aint married yet!!...I STILL like pretty young women(my weakness)....i even allmost thought about going back to teaching Physical Ed during the day and running my drain cleaning business in the evening....if i can still do at least 3 calls a day in the evening at $300 a pop,and STILL hold down a teaching job at $50,000 a year that aint bad!!!....what do yall think?.....that way i would still have ALL the benefits of teaching and also have the Drain Money coming in!...Now believe me, Teaching money cant even DREAM about touching the money that a good drain-cleaner like myself can make, but i am just thinking about the FUTURE for when i get old and shyt.....maybe i am being a wousie!!!.....help me fellas!!..what would you do??

  • #2
    Re: Drain Cleaner Retirement Plan????

    Start socking away cash in an IRA, deposit as much as you can afford not to touch until retirement. You got a make your own retirement plan. Calling a financial adviser to help you set this up would be a very smart idea.
    Water Heater Reviews & Water Heater Information

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    • #3
      Re: Drain Cleaner Retirement Plan????

      What service guy said!!! Dollar cost averaging and the rule of 72---let them be your friend. The younger you start the better. It will still be tough to replace $3000.00 a month. That number probebly goes up with inflation

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      • #4
        Re: Drain Cleaner Retirement Plan????

        It's not for everyone but I buy houses to offset inflation and give me a retirement. I am 45 and don't labor as fast as I did when I was 30. I just have to work to keep up on all the payments for now.
        Seattle Drain Service

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        • #5
          Re: Drain Cleaner Retirement Plan????

          if your making $300.00 a call, what are you doing with your money?

          if you take 1 call a week ($300.00) and put that away into a safe interest bearing account. you will have $15,600 a year plus interest. compound that over your lifetime and you'll be able to live off the interest alone.

          this is just a simple safe example. if you properly invest, you will have more than just interest.

          a sep ira allows for a net 15% per year contribution. plus you don't pay taxes on this income this year. comes off your gross. you do pay it as you use it at retirement.

          a roth ira is similar, but you do pay the tax on it this year, doesn't come off the gross. then when you retire, the money is tax free along with the interest it earned.

          as far as medical, see about getting a supplemental policy that will pay you for a disability or emergency room visit.

          i've had one for 20+ years. price is $142 a year and it hasn't changed since day 1.

          rick.
          phoebe it is

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          • #6
            Re: Drain Cleaner Retirement Plan????

            thank you all for your help....Rick, imma contact my insurance on that supplemental ins.

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            • #7
              Re: Drain Cleaner Retirement Plan????

              Originally posted by Cuda View Post
              It's not for everyone but I buy houses to offset inflation and give me a retirement. I am 45 and don't labor as fast as I did when I was 30. I just have to work to keep up on all the payments for now.
              me too...lose money on them for a couple years then inflation catches up and the rent covers the costs... got a house paid off, a condo paid off, my shop has two apts over it i live in one rent the other. it'll be paid off before too long. can't go wrong buying buildings here...they never go down in value, not even now. and there is a new crop of 20 something ski bums every year looking for somewhere to crash. and anyway i don't want to retire...what would i do all day? I win the lottery i'll just buy some more nice spendy equipment and keep working.
              This is my reminder to myself that no good will ever come from discussing politics or religion with anyone, ever.

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              • #8
                Re: Drain Cleaner Retirement Plan????

                i retired as a correctional officer after 20 years. It gives me near 1600 a month clear. I now work as a maintenance man for a non profit.between the both i do ok and really enjoy my new career. My medical expences are3 covered by my previous employer. I can also claim them on my new job. That way 100 percent covered.

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