Retirement plans recommendations for truckers?

I own a quad and 3 single family homes plus my residence. My best renters are the government paid folks. Either employees or retired.
Sure I spent a bit of money for repairs between renters, most of it was dumpster fees, mud and paint for the sheetrock. Did it myself.
My main concern was to have the units paid off so I could retire debt free.
There is always a demand for apts. in this small rural town.

Single family homes I have very long term renters. Each one is over 10 years. All three, the men take care of the minor repairs and yard maintenance.

Home improvements, I pay for materials and let them provide the labor. This is for interior painting. Same for outside decks or yard plants. I feel when the tenants feel they own a piece of the house, they stay longer and take better care of the house.

 

I’m 60 now, just turned 59 when I retired.
I saved up about $100k, paid off all my debts, sold the truck and trailer, then sold my house and moved to a smaller much cheaper town and paid cash for a cheap house.
I’ve been doing some travelling. Ontario, Arizona, Iceland and currently sitting on a relatives sail boat off the west coast at Vancouver Island.
I rode my motorcycle out here and plan on going to Sturgis next month.
I haven’t had a single moment of boredom and don’t honestly know how I ever had the time for work before.
Just do it, you’ll find a way.

 

Really hard to find good tenants.

 

Oh, my phones a ringin' with this one. If you ask 100 people what they are planning to do after retirement, you'll get at least 101 different answers.Retirement is NOT a one size fits all deal. Heck, yesterday, I met an older guy on a bicycle, going from the Mexican border to Vancouver. WOW! I'm 68, retired @ 62 and 30 seconds, early on, a sweet deal. Wisconsin was awful, treated the seniors terribly,, but moved to Colorado with much better results. I landed a govt. assist. apt. for seniors. I pay 30% of my SS income,( about $1400/mo.) or about $350/month for a 1 bedroom. Unheard of here. and Colorado has been VERY good to me. I never thought I'd live this long, with the um,,,active lifestyle I led, so very poor planning, but lucked out,,,for once. As the late great Tom Petty sang,,,"Even the losers, get lucky sometimes".
Things to consider I learned begrudgingly. 1st, Social Security, that I live on solely, will not be able to accept any new applicants after 2034( was 2035, but lost a year due to Covid), unless something is done. Current SS members are set for life. 2nd, health insurance. I've gotten in trouble with my views on it, such a ripoff. I'm lucky, Colorado pays my medicare premium( $174/mo, I was really upset about that, you mean, after all our lives, we have to PAY a premium for health ins? Come on.) but that comes right off the top of your SS benefit. The "plans" will make your head spin, designed that way, I'm sure. 3rd, additional work. While SS allows you to earn a certain amount, I literally can't work, as it would affect my rent, so why bother? It's a rough choice. On one hand, SS just BARELY lets us get by, so many that have "regular" rent, upwards of 4 figures in my area, these people HAVE to work. Ever wonder why so many older folks at Walmart? Taxes alone went up almost 35% for homeowners. Some suggest a reduced gig of their former lives, but that rarely works in trucking, and besides, after all the time I spent in a truck, the absolute LAST thing I wanted to do, was be in a truck and let my CDL expire to prove it.. You have some time, and the world could easily make another left turn, so our info will be useless. Best of luck with the future, you guys are going to need it.

 

My plan is to retire when they plant me. Not a day sooner.

 

You and I have been friends for a long time. You're in pretty good shape, considering how so many other Americans are suffering financially.
I remember when you moved from Milwaukee to Colorado (Pueblo?) and that takes courage for such a life change. You're a bullheaded former trucker, so know how to make it work in your favor. I just might send you a case of good wine. Do you enjoy a good glass of wine on occasion? If so, red or white?

 

HA! I never thought of "bullheaded" as an asset, but by golly, I can say, my lifestyle and old mans views may have added some years, not bloody likely. I've found, it's a giant crap shoot, and very little actually insures more time. It's what you do with the available time given. I don't drink a drop, but thanks for the offer, pal. I couldn't imagine this site without you. I hope the staff realizes that too.
I live in central Co. in the "14ers", and Pueblo is not the best area.

 

Last pandemic rent was suspended.. it will probably be again the next pandemic..

 

Yep, and YOU will be the a-hole for evicting them when you can't cover the mortgage.

People today are so #### entitled they don't realize the landlord has expenses to cover too.

 

My retirement plan to become an expat in North Korea. If that doesn’t work then I suppose I’ll have to just start doing dance moves and make a few million doing that on TikTok, then just get a nice spot in south side chicago