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Retirement Discussions / Retired Fools
|Subject: Re: Retirement Advice For Momma||Date: 9/17/2008 7:09 PM|
|Author: MichaelRead||Number: 13981 of 20206|
She loves working and wants to continue to do so but the question is how much longer can she last? A few more years at the most I would say... she works at a fancy beauty salon where image is everything so who knows how long they will want an "old lady" around. It sounds like there are a few younger people that do the same thing she does and it's getting more and more competitive for clients.
Living with my sister would definitely be risky if they don't get along. They have an ok history of getting along but my sister is also married and has a 4 year old daughter so that dynamic might change things.
She may work longer than you think: many older women want a style they’ve successfully had and too often the young hairdressing kids don’t understand why. Your Mom probably has many repeat clients who appreciate someone not trying to get them into the latest style.
And, don’t forget, being able to cut and style hair is a portable talent and if your Mom wanted could be an ‘at home’ hairdresser. My daughter paid her way through teaching college by having a salon in her home.
In your first post you listed what you Mom has saved. That’s not a cheesy amount. My advice what to do with it is put it in low-risk bonds or treasuries – that is if these pay a higher interest. If they don’t there’s no real need to touch them. Point is, don’t go into risk.
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