Retirement second thoughts

Rich_L

I semi-retired the summer 2022. The company I worked for offered me part time and no "on-call." It was too good to pass up and I had planned on doing something part time anyway. Well, I hung up the tools completely, earlier this year and now can't believe how much I miss it! I thoroughly enjoyed what I did and the great people I worked with. I've been getting quite a few calls lately, which I offered up to my managers and co-workers, for advice on things steam and hydronic. I'm definitely not the expert some of you all are, but I was never afraid to dig in and ask questions as necessary to get the job done correctly. I really enjoy talking through the problems and helping as I'm able. It's making me think - Maybe I should work, part time, a few more years, and continue to help these younger guys out. On a side note, money's not the issue. I'm not wealthy, but am comfortable. Too much free time and missing the workforce and challenges HVAC provided are the issue! Honestly throughout my decades of work, I dreamt of the day when I could retire and do as much or as little as I wanted, when I wanted! Don't get me wrong, I like it, but have many second thoughts. I'm curious if any others have retired and are regretting it or giving it second thoughts?

hot_rod

Im in the same boat. It does become harder to stay in the loop when you’re not in the game every day. Mainly putting your hands on the newest and latest stuff.

Sites like this will keep you up to date on the industry, both the newest and the oldest equipment out there gets dragged across HH. It is a unique site in that respect.

Plenty of opportunity for freebie work for neighbors and friends to keep the tools from getting rusty.

Pick a hobby or two. I help out with a local dog rescue group, you get two wins. You and the dog. Also the therapy dog group that my sister is involved with.

The box stores around me are staffed with semi-retirees, many work 4 hour shifts a few days a week. My lumber guy at HD goes in early to restock, leaves at 10:00 AM

You gotta keep the body moving, or lose it.

ethicalpaul

This is common across all industries, not just HVAC. If you really like the work, consider going back to part time. Goodness knows the industry has a shortage of competent techs and I'm sure any employer would welcome your experience and attitude.

Paul Pollets

I enjoy my free time. I sold part of my business to the former lead mechanic and did sales, design and received a commission. I was able to contribute significant sales to his bottom line. The new owner doesn't have the business experience to grow his company and asked me to help "modernize" his business. I didn't want to travel 3 hrs a day to do so and declined the offer. I have enough to live comfortably and realized it was time. Retirement planning is important, and we should remember we're not immortal.

Larry Weingarten

Hi, Lots of good stuff already mentioned. I do like @hot_rod 's "Plenty of opportunity for freebie work for neighbors and friends to keep the tools from getting rusty."…Troubleshooting is fun for me, so I wind up fixing things others have given up on. I also teach as needed, both for my State Parks and at a local school for troubled youth. It's nice to see when someone "gets it". With the youth, some of them keep in touch, and throw me business or tech questions… or simply want me to know how they are doing. These sorts of things might be just what you're looking for. 😊

Yours, Larry

ps. Any chance you could ride shotgun with some of the techs in your old company, and show them some of the ropes? Troubleshoot or client interaction stuff?

Grallert

Right behind you. Not sure I'll ever retire completely as it's taken some years to get this place running as close to perfect as possible with the funds available. I'll still be the one the friends and neighbors call when there's an issue. I'll still likely wander the halls of Miss Hall's School and I'll continue to make bamboo fly rods.

Long Beach Ed

Consider teaching or becoming a landlord. You'll never be bored, and you'll have the best heating systems in town.

Retirement isn't all it's talked up to be. You certainly miss the guys and being out there. Some folks I know wound up volunteering in fire departments and things like that.

Intplm.

When I first retired/semi-retired I had this feeling that I was forgetting something. It was a phantom feeling.

The first two weeks I got all of, or most of the stuff around the house done. The timing was good. A buddy of mine stopped by the house and asked if I wanted to work for just the spring and summer and some of the fall. I've been doing that ever since.

For me, it's been an uplifting experience. Part-time/short-time has been great.

GroundUp

I did the same (from commercial/industrial) in December of '21 with the intention of doing some light residential radiant work nearby when I felt like it. By March of '22, I was looking for work again just to get out of the house. Nobody really wants to hire a part time pipefitter, but I found a position on a project with a union contractor close to home that was pretty relaxed on hours (supposed to be 50 hours but I showed up 3-4 days a week) for about a year until I'd had enough of the union rules and couldn't continue working there. I've got 9 rental properties and some acreage to take care of, but that wasn't enough to keep my head on straight or my butt off the barstool so I am back to working a few days a week doing hydronics except in the spring & early summer when there isn't much work to do. During that period, I picked up a couple days a week with an excavating company moving dirt. The extra funds are nice to have, but the biggest reward is having something to occupy my time and challenge the old mind.

CoachBoilermaker

It seems part time gives a perfect balance of staying busy and having time to be retired.

Rich_L

All great thoughts and comments, thank you. I did pick up some part time work this summer for a local hospital as a courier. Gets me out of the house a couple of days a week but doesn't challenge the brain too much. I do have friends and neighbors call from time to time for help with things. And I picked up a hobby that's long been interesting to me but I never indulged until very recently. I found 2 Model A Fords that had been sitting for decades. It's been lots of fun getting these almost 100 year old cars up and going again. We live on a small farm in Iowa so there's always something to do around here. I just miss some of those challenges and the sense of accomplishment that came from fixing HVAC things, especially steam and hydronics. I really like the idea of teaching. Thanks again for sharing your thoughts.

EdTheHeaterMan

You like Teaching…. I loved it. I taught an adult evening class for oil heat at the local trade school for about 5 years. Later on I was hired by EH-CC.org (Eastern Heating and Cooling Council) to teach one day seminars on Oil Burners, Basic Electricity for HVAC, and Hydronics. They really needed a Hydronics guy and I got lots of younger techs that worked on hot air and cooling systems to have a better understanding of boilers. I even has several repeats take the same course over again, once they had some boiler experience.

I also had a passion for an old Ford. This one is a 1923 model T Depot Hack.

That is a fun car to drive in a parade.

Since my forced retirement due to a crippling disease forced me into a wheelchair, I have more time to spend helping friends on HeatingHelp.com. I'm so glad that Dan Holohan started this site. While I was still working years ago I came here for help on air conditioning and refrigeration issues that I was not on top of. I even had some Steam Boiler queries back in the day. Any time I got help on a topic, I felt the need to pay it forward and would take time to answer at least 3 oil burner questions. (that is what I'm good at) Since my retirement, I like spending time here telling every new WiFi thermostat owner where to connect the C wire.   

I understand your need to keep the tools in hand, maybe you can find a local high school or trade school that can use you.  Your local government offers these things sometimes.  See if they want to offer a class that you can teach.  Maybe they don't offer it because there is no one to teach it. They didn't have an oil heat class until I offered to teach if in my county.

And remember we can always use your expertise here.  Up until 3 years ago I had only 300 comments. Since my retirement, I am getting close to the 10,000 comments. And at least 10% of then are helpful to someone. Keep checkin' in and watch for a while. when you see something you know about, for sure comment on it. You may get to be an AllStar on HH.

mattmia2

I'll tell you what to do with your c wire…

CoachBoilermaker

@EdTheHeaterMan Thank you for your service and advice to strangers on HH.

SlamDunk

My younger brother insists he will retire at 62 and collect social security. Completely counter to my plan but he figures he'll get a grip on retirement while young enough and enjoy what is left of his life. It annoys me that he gives me pause to think.

hot_rod

https://forum.heatinghelp.com/discussion/comment/1825577#Comment_1825577

Not a bad plan. He may need more than SS $$ to live comfortably?

Just to eat and be insured, health, vehicle, and home takes a lot these days

Larry Weingarten

Hi, I'll just throw out there a book by Garrett Gunderson, "Killing Sacred Cows 2.0". It will make you think differently about money. 🤑

Yours, Larry

pedmec

@GroundUp You wouldn't happen to live in the Boston area. Boss is looking to have a license pipefitter license to expand the company. No labor

Mad Dog_2

Every plumbing, heating &.mechanical outfit with a few employees greatly benefit from an old timer doing the dispatching. Nice & comfy in the office keeping the Army on the March...Mad Dog

SlamDunk

@hot_rod , I reckon he has enough except for maybe healthcare. On paper, he looks great: rental income, union pension, social security, savings and investments-single, no kids.

I feel like I have been brainwashed to work to 67. My wife won't be happy if I retired. Meanwhile, she retired at 58! I know, statisticly, the odds of me making it to 67 without being injured or laid off, are against me. Maybe, if I lost this job, that is when I call it.

@larry weingarten, I'll check it out. Thanks

Jamie Hall

I have retired several times… or, perhaps more accurately, changed professions, sometimes rather radically, several times. And I've always managed to find something or other (or several somethings) to keep me interested and active. In the process I've found a few things which seemed promising, but which turned out to be more or less a poor choice (like teaching) and some which turned out to be dead ends — and some which will stay with me I suppose until I'm put up on the hill with my kinfolk.

I'll never be rich (I love the comment about Social Security — that and an exceedingly modest pension from a stint at teaching are what I live on) but if I've found anything (other than being a Brother) of importance, it's that money isn't it. People, and love of people, is.

Big Ed_4

All you needs a stock truck… Your knowledge and experience is priceless … Pick and choose your hours and jobs … Good Luck…

We have been working since we were 12 , I know it is hard to stop .

Woman never wanted a job in the first place :)

SlamDunk

@Jamie Hall I agree, in matters" of importance, money isn't it". That reminded me of a book I read, "Bronx Dharma, A Street Level View of Zen", which says everyone has problems. The poor soul who lives under a bridge in winter has problems and the uber wealthy hedge fund manager also has problems; Everyone has problems….But, It is decidedly better to have the hedge fund manager's problems. Money does matter some.

hot_rod

similar to the old, often untrue saying

“Do what you love and the money will follow “

That doesn’t always happen with tradefolk

IMG_9139.jpeg

Larry Weingarten

Okay, Let's change it to "Love to do what other people need, and the money will follow". 😇

Yours, Larry

SlamDunk

@hot_rod I thought it was: " Do what you love and you will never work a day in your life". That doesn't really work for trade folk either, now that I think of it.😂

Jamie Hall

I will NOT write a sermon for you all… I do enough of that! But I like @Larry Weingarten 's take.

The actual quote, by the way, is not "money is the root of all evil" — it's "the love of money is a root of evil". Subtly different…

GroundUp

https://forum.heatinghelp.com/discussion/comment/1825586#Comment_1825586

No, sorry

hot_rod

https://forum.heatinghelp.com/discussion/comment/1825765#Comment_1825765

I love money, both earning it and spending it. It makes the economy work when goods and services are exchanged for money.

The obsession with money is when it becomes an issue.

Jack

I began making my own money when I was about 12. Mowing lawns, shoveling snow, whatever. Retired at 70. Work can be a joy, a habit, a nightmare or on different days all of the above. Work is what you do. You learn to work. You also learn not to;). It took about two years before I didn’t feel I had to answer the bell, but it is hard to just give it up. At 76 I’ve made the adjustment quite well. I’ve developed new skills. I’m perfecting the “Yes, dear…” I have my workshop. Fortunately, my Daughters and Grands keep me busy. The 24’s hang unmolested for years now. You adjust. ”Resistance is futile. You will be assimilated.” You miss the people. I’m going skiing.

Sully1266

I retired a year and half ago at 55. I’ve been in the field since getting out of high school. Did 35 years with major gas utility couldn’t do the commute anymore ( 48 miles) so I retired. Was losing my mind 4 months later. Got an instructor job teaching HVAC at an unnamed for profit trade school. Worked part time 2 days a week day and night classes. I loved sharing my experiences with the techs of the future. The experience was amazing I feel I missed my calling spending all those years in the truck when the last 10 should have been in the training room. I spent a year there then resigned, it’s a Ponzi scheme! they just want the money they don’t care about the students or the quality of the education. When I started we had 25 students in a class, very challenging to do labs like that but we got it done. By August of this year it was 49 to a class. They just keep signing people up even if we can’t give them a quality education or even their moneys worth. I could not believe how they ripped these kids off. Trades are big again there is a demand for these schools. I graduated a Vocational high school and went right to work. Now these kids have to pay for an education that use to be offered for free. I miss it a lot but don’t regret my decision. Since I left I have received 8 texts from students that I taught over the year that have since graduated and have gotten good paying jobs in the trade . That made it all worth while knowing I made a difference. I’m now working on designing a HVAC basic electric program for the county community college adult class that I will teach in the new year. So my advice to you is share your knowledge anyway you can, be it teaching or posting on the wall. Good Luck

Labenaqui

My experience began as a teenager in a small, multi-disciplined family trade enterprise and learning from the old-timers. Went on to University, began an engineering career, married, raised 6 biological and eventually 10 children. Couldn't raise a tribe on an Engineer's Paycheck, so "kept my hands dirty" in the trades as well.

Had a very successful 50 year contracting/consulting career as an Electronic New Process Development Engineer. Lots of "Confidential" Files and NDA's (Non-Disclosure Agreements).

Fell out to go back into the Hydronic Heating Trade more aggressively (needed retirement income as well). Following new trade developments I came upon Delta-T Technology. Having worked on the old gravity systems and referencing my Physics Book a "Neo-Gravity Hydronic Heating Appliance" evolved with US & Canadian Patents awarded. This is now a full-time enterprise along with keeping my friends and neighbors warm.

The concept of retirement has eluded me. We are given talents that we must discover, develop and apply. Still "playing with pipes" for over 70 years now, so apparently it's one of mine.

Recall my Dad saying after scaling out an old, sooty boiler and my griping about it: "Always leave it a better place than you found it." I'm still trying …..

fixitguy

73 and healthy, no plans to ever retire. Lots of old technology and equipment to repair. I'm better now at this game than ever. I bought my business from a 80 something plumber so I have to carry the torch forward. And no I'm not investing in pro press.

SlamDunk

For those who have retired, collect social security, have other incomes( 401k,pension, rental, business etc)- How do you deal with the social security tax torpedo? Is converting to a Roth IRA the only solution? I ask because I'm within spitting distance of retirement and this was unexpected information. In other words, I didn't plan for it.

If you are unfamiliar with the tax torpedo, here is a very brief cut and paste:

What Is Social Security Tax Torpedo? The Social Security tax torpedo is a spike in taxes retirees can experience after receiving Social Security income. Specifically, 50% to 85% of your Social Security check may be taxable.

Alan (California Radiant) Forbes

I’m like @fixitguy: 73 with no plans to retire. I love stressing and thinking about a problem and finding the answer; on my own or with all the knowledge here on HH. No other job would keep me curious.
My advice to you is to keep working; on your own terms, if possible.

Big Ed_4

"If it an't fun , don't do it "

hot_rod

https://forum.heatinghelp.com/discussion/comment/1828594#Comment_1828594

I would set up a 1 hour consultation with a planner that specializes in retirement $$. With the huge baby boomer population there are plenty of them. It's almost impossible to keep up with the changes and best options, which will be be changing again soon, no doubt.

The plan needs to be geared to your wants and needs specifically. What works for the 1%ers may not work for you. Or me :)

SlamDunk

I think a fiduciary financial planner will be in our future. Ijust have a hard time handing over the reigns of our nest egg to, basically, a stranger. But, it may be too expensive not to.

I was just curious how people manage. I might end up with a bad planner and was hoping to learn the ropes before seing one.

All we were ever told was save, save, save! So, we saved for a life time and now, near the end of career, we learn that if we both collect soc sec. And withdraw $ 39001.00, one our SS checks essentially goes back to uncle Sam on April 15. I find myself questioning the advice to save.

If there is a way to make this less painful, it will be worth paying the right planner.

hot_rod

https://forum.heatinghelp.com/discussion/comment/1828700#Comment_1828700

Shop for a planner as you would a doctor. Ask around, request references, talk with his current clients. Get a second opinion if you are uncomfortable.

Like a good doc or lawyer their job is to access your risks, make suggestions, offer options, you can always say no.

We are with a big group that has attorneys for setting up trusts, attorneys to sort through legal jargon, tax accountants, stockbrokers, IRS experts. They all have a speciality. I can't imagine one person being able to stay current with all the moving piece.

They offer monthly webinars to keep clients up to date on changing markets and tax implications.

Ounce or twice a year we make a rotation through their building meeting with the various "experts"

With social media, I think you will find out which groups or individuals are competent, or not.

SlamDunk

Thank you @hot_rod . I started looking. Just learned my account rep at Fidelity is a Fiduciary CFP who specializes i retirement planning. Funny thing is, out of the blue, he and his team harassed me with phone calls last year trying to get me in to change investments to reduce my tax burden. I was annoyed- no one ever called me while I was figuring out how to invest (initially badly) and salting away hard earned money for the last 35 years, now these guys want to help? I might give him a call in the new year.

I have the bad memory of my father in law setting up his will and finances late in life, after he retired, and when we needed to take care of him, we found his advisor convinced him to put his money into an annuity that wouldn't pay out until he was a hundred! It didn't make any sense but the old man thought he was given good advice and didn't understand there were commissions involved and it was actually bad advice. I have that experience going for me!

Intplm.

It's 12 degrees out this morning. That said…no second thoughts.