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November 7, 2015
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Question:
How does cash flow work when retired? I’m not retired yet but am getting there.
I have very little time to attend these shows. When I’m retired, I’ll have much more TIME, but attending shows a great distance away means it’s costly (hotels & transportation) to just “window shop”. Conversely, if one purchases something nice at these shows, it really cuts into one’s finite retirement funds. Please elaborate…Ian
Ian-
Cash flow? in a word, “outward”. At least in my case. Travel is indeed expensive but not nearly as expensive as some other expenditures I’ve had since I retired two years ago. The guns we love are in many cases getting more expensive but the people you meet are priceless. As noted above, many are a bit odd but as some of us discussed over adult beverages one recent night in Cody that seems to come with the territory as collectors. Some of us were/are influenced by vocations that demanded extreme attention to detail and others have an intense interest in history, both traits serve a serious collector well.
Mike
August 14, 2021
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Cash flow is easy. Marry a girl 7-8 years younger with a 6 figure salary plus bonus and stock options.
I have a small Federal pension, VA disability pension, 401K and a TSP as a slush fund. The rest comes from her, this 2025 Jeep she got me a few months ago, because my 2005 Willys has been regulated to field use. But I’m looking for an M38a1.
July 17, 2012
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mrcvs said
What was your job? That’s something I tried to do when I got out of college on that awful early 1990s recession.
That makes sense now. In my head, I reasoned that travel and expenses before purchasing any “souvenirs” could easily be $40-$50k for what you have planned. That’s a huge chunk of a fixed income.
I was a senior partner in a mechanical engineering firm, we specialized in evaluating in-service and new build specialized equipment around the world.
We performed inspections and testing in the environments no one else wanted to touch, including high rope access, rappelling, confined space underwater, commercial (tethered) diving, aerial drones, at sea (cruise ship) inspections, etc., etc.
We were always busy somewhere in the world. I still retain my credentials as a Naval Engineer at the 3 largest commercial shipyards in the western hemisphere, Meyer in Turku, Finland, Meyer Werft in Germany and Fincantieri in Italy (outside Venice). Although at Fincantieri I am listed as an “Engegnere Navale” 😉
Best Regards,
WACA Life Member #6284 - Specializing in Pre-64 Winchester .22 Rimfire
August 25, 2009
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JWA said
mrcvs said
What was your job? That’s something I tried to do when I got out of college on that awful early 1990s recession.
That makes sense now. In my head, I reasoned that travel and expenses before purchasing any “souvenirs” could easily be $40-$50k for what you have planned. That’s a huge chunk of a fixed income.
I was a senior partner in a mechanical engineering firm, we specialized in evaluating in-service and new build specialized equipment around the world.
We performed inspections and testing in the environments no one else wanted to touch, including high rope access, rappelling, confined space underwater, commercial (tethered) diving, aerial drones, at sea (cruise ship) inspections, etc., etc.
We were always busy somewhere in the world. I still retain my credentials as a Naval Engineer at the 3 largest commercial shipyards in the western hemisphere, Meyer in Turku, Finland, Meyer Werft in Germany and Fincantieri in Italy (outside Venice). Although at Fincantieri I am listed as an “Engegnere Navale” 😉
Best Regards,
And still with the excellent and admirable credentials of your life accomplishments you still CHOOSE to drive a pickup that says DODGE on one side and RAM on the other
July 17, 2012
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DEEREHART said
JWA said
mrcvs said
What was your job? That’s something I tried to do when I got out of college on that awful early 1990s recession.
That makes sense now. In my head, I reasoned that travel and expenses before purchasing any “souvenirs” could easily be $40-$50k for what you have planned. That’s a huge chunk of a fixed income.
I was a senior partner in a mechanical engineering firm, we specialized in evaluating in-service and new build specialized equipment around the world.
We performed inspections and testing in the environments no one else wanted to touch, including high rope access, rappelling, confined space underwater, commercial (tethered) diving, aerial drones, at sea (cruise ship) inspections, etc., etc.
We were always busy somewhere in the world. I still retain my credentials as a Naval Engineer at the 3 largest commercial shipyards in the western hemisphere, Meyer in Turku, Finland, Meyer Werft in Germany and Fincantieri in Italy (outside Venice). Although at Fincantieri I am listed as an “Engegnere Navale” 😉
Best Regards,
And still with the excellent and admirable credentials of your life accomplishments you still CHOOSE to drive a pickup that says DODGE on one side and RAM on the other
That is because it says “Cummins” on BOTH sides!
WACA Life Member #6284 - Specializing in Pre-64 Winchester .22 Rimfire
November 7, 2015
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And still with the excellent and admirable credentials of your life accomplishments you still CHOOSE to drive a pickup that says DODGE on one side and RAM on the other -DEEREHART
Doug-
I still remember working at a Lincoln-Mercury dealership over 45 years ago when a little station wagon came in with “Pinto” nameplates on one side and “Bobcat” on the other. As you have noticed some aftermarket parts catalogs try to treat the Dodge and Ram trucks as different vehicles, others don’t. At least they haven’t put “Stellantis” nameplates on any of them….yet.
Mike
December 9, 2002
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mcrvs said,
Question:
How does cash flow work when retired? I’m not retired yet but am getting there.
I have very little time to attend these shows. When I’m retired, I’ll have much more TIME, but attending shows a great distance away means it’s costly (hotels & transportation) to just “window shop”. Conversely, if one purchases something nice at these shows, it really cuts into one’s finite retirement funds. Please elaborate…
Ian,
Several have laid out as how they are set up and stated some facts of the situation or the future plans of you’re collecting future, and all have brought out some very good points. We’re all different, and every single situation is different!
Jeff, has it wired! I would say he’s one of the exceptions to the standard rules and has made some very good moves and plans. God Bless him, as we hope they all work out well for him!
That said, I can understand you’re situation as the economy varies for all of us, and can affect us in so many different ways, as it has for you in the 90’s. We all might hear of, or know one or more who fit that ticket.
The investment thing is a vary wide spectrum and when you look at how many people have rainy day funds,( less than 10 % in general and closer to 8 % ), it can be mind boggling.
You always struck me as a smart guy and pretty astute collector. Do what you can and stay within you’re means, as I know you will.
Tony
July 17, 2012
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As usual, Tony is giving good advice.
Here is one alternative I have been exploring, a solar powered hybrid camper van.
Really, seriously, you get 50+ mpg, can park/camp/sleep in many Walmart parking lots for free and haul quite a bit of guns and goodies along with you. You can combine seeing the country with stopping at a few gun shows along the way. I would give up the Dodge and it would be our second vehicle. But, best of all, owning a motorhome offers several significant tax advantages, primarily because the Internal Revenue Service (IRS) allows a qualified recreational vehicle (RV) to be treated as a primary or secondary home.
There are other ways to make it work, you just have to find what best fits your situation.
Best Regards,
WACA Life Member #6284 - Specializing in Pre-64 Winchester .22 Rimfire
March 31, 2009
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Jeff, you really need to investigate solar vehicles before you buy one. Long distant traveling may not be the best. If you buy one get the one that runs on the battery as long as it can then switches to gas. Some EV’s switch to gas when you get to 40 mph. How often does the EV need to be charged? How long does it take to be fully charged? Along your trip where are the charging stations and campgrounds. Heat, load, hills and speed really effect the the life of the charge.
We had a motorhome but I can’t remember the details about the rules for the qualification as a second home? Ask a tax expert about this. Our motorhome had a generator, air conditioning, bedroom, living room, kitchen and bathroom. We stayed at a campgrounds where we did laundry, filled the water tank and emptied the black water tank. It had a 100 gallon gas tank and about the same amount of clean water. Driving a car, eating in restaurants and staying in motels or using the motorhome cost us the same but the convenience of the motorhome had its benefits.
July 17, 2012
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Hi Chuck,
Yes, the ones I am looking at can be charged with a station but that defeats the purpose of saving money. The solar is a passive system but it takes days to get a full charge. The ones I am looking at switch to the gas or diesel engine at about 40mph so your true economy is from driving around town, not on long trips, but it all helps the average.
I have already talked to my tax guy, according to the IRS you only need 3 things to qualify the vehicle as a first/second home, it has to have a built-in bed, toilet and a built-in means of cooking food. Most of the ones I am looking at have a cartridge toilet, a microwave and a convertible bed/table and they qualify. To write off the loan interest, the vehicle must be the loan collateral but that is usually the case anyway for financed vehicles.
I am still weighing the pros/cons but it still seems to be a viable option. Worst case, you did a cross-country trip and didn’t use the electric at all, even then you are still getting 18-22 mpg (depending upon the vehicle and engine) with fuel being the only expense. Aside from my frequent flyer miles, it is still the cheapest way to travel by eliminating hotels and restaurants from the expense tab.
The biggest problem with the whole setup is talking my wife into it….
Best Regards,
WACA Life Member #6284 - Specializing in Pre-64 Winchester .22 Rimfire
March 31, 2009
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JWA said
Hi Chuck,
Yes, the ones I am looking at can be charged with a station but that defeats the purpose of saving money. The solar is a passive system but it takes days to get a full charge. The ones I am looking at switch to the gas or diesel engine at about 40mph so your true economy is from driving around town, not on long trips, but it all helps the average.
I have already talked to my tax guy, according to the IRS you only need 3 things to qualify the vehicle as a first/second home, it has to have a built-in bed, toilet and a built-in means of cooking food. Most of the ones I am looking at have a cartridge toilet, a microwave and a convertible bed/table and they qualify. To write off the loan interest, the vehicle must be the loan collateral but that is usually the case anyway for financed vehicles.
I am still weighing the pros/cons but it still seems to be a viable option. Worst case, you did a cross-country trip and didn’t use the electric at all, even then you are still getting 18-22 mpg (depending upon the vehicle and engine) with fuel being the only expense. Aside from my frequent flyer miles, it is still the cheapest way to travel by eliminating hotels and restaurants from the expense tab.
The biggest problem with the whole setup is talking my wife into it….
Best Regards,
Good luck. My wife does not want to drive anymore. Fly, rent a car and stay in hotels. I miss the driving. But this last trip to Cody was a bit much for me by myself. The longest days, 9 hours, were between my house and Provo Utah but the shorter days, 6 hours, on the back roads between Provo and Cody were the tough days. Very scenic but I had to really pay attention.
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