I recently began to wonder about retirement. I’m in my 50s, self-employed, and middle-class. My father worked for the same company for 45 years and retired on a comfortable pension, but I don’t see that happening to me. Unlike years past, there isn’t any real loyalty between employers and employees anymore and retiring after long years on the job is more of an exception than the rule now. To add to this concern, there is the reason I’m self-employed. I’ve never performed well under the thumb of a boss. However, I have been able to excel when working for myself. Not to knock the job, but flipping burgers or being a Walmart greeter just doesn’t suit me as I look forward in getting older.
No Faith in Social Security or Pension Plans
Given the economic precipice that we seem to sit on, I have no faith in social security or in any pension plans. I also don’t want to just sit back and relax after all these years of work. I may not be able to keep up the physical pace that I once did, but my mind is still sharp and I am still driven.
A Hobby to Pay Bills in Golden Years
My self employment has come about because I took hobbies that I held interest in and turned each of them from a mere hobby that paid for itself into one that actually paid the bills. Honestly, it’s time to do that again, this time planning for a hobby to pay the bills in my golden years.
Gunsmithing a Natural Choice
Gunsmithing was a natural choice for me. I enjoy working on firearms, and it doesn’t require heavy manual labor. As my body ages, I can still maintain an income. However, in order to take it from a mere hobby to a business, I had to step up my game. I needed more knowledge and skill as well as the ability to work on other people’s firearms. So how was I to go about that?