Building my Retirement Home or "My First 5 Year Plan"

[Weekend_Sawyer]

 I have never had a 5 year plan. During Job interviews I have been asked, where do you see yourself in the next 5 years? My answer usually came out of thin air. Just make something up to get you through to the next question.

 For the first time in my life I have a 5 year plan. It started around my 55th birthday. I decided to retire at age 60 as I will have 20 years in with “The Company” and am vested in their pension plan.

 It’s time to sell my property in the DC area. It’s getting so crowded I have a hard time looking out my front door. Right across the street, what once was Uncle Elwoods woods is now 250 townhouses. I used to love to say Elwoods Woods. I liked the way it rolled off the tongue. My cousin’s place up the hill from me will be another 150 units soon. The trees are falling all around me but no one is replanting.

The good is that the developers are interested in buying us out.
The bad is I have a lot of Junk, old trucks, tractors tools, and projects I really meant to get around to. I have made the decision to get rid of most of the tractors and at least 1 truck and I hope to find them good homes rather than selling them for scrap.

 I need to build my retirement home. I am very lucky to own a small tree farm in the eastern panhandle of West Virginia. On this land I plan on building a 60 x 40 garage/workshop with a loft apartment in it and then build a house next to that. The perk test has passed and we will break ground this weekend! I plan on building “out of pocket” so I expect it to take around 2 years to get the garage livable and then decide weather I even need to build a house. I am very lucky to be working with a good friend who is, in my opinion, the best builder in the area. Our goal is quality not speed.

 I still have just over 4 years left to work and live in the DC area, traveling about 1 week a month for my Job. But for the first time in my life the path into the future is clear. I just hope Murphy or Karma don’t decide to throw too many curve balls my way!

Thanks for listening.
Jon

This is the lot. Mostly White Oaks which I'll mill to use in the loft

 

60 x 40 garage basic layout. Somehow it looks small. I'm sure it won't seem small when we start pouring concrete!

 

[Roxie]

I'm very happy for you, and your plan sounds awesome! 

[OneWithWood]

Good for you, Jon! 
60x40 is a good size to start with.  You might want to make the roof plan 72x40 and have an open bay at one end.  Who knows what things will need to be stored in an unheated but rain/snow protected area.
Stay flexible with your plan.  Two years can quickly become four years, but when your retired it becomes immaterial. 
Glad to hear you have a good vision on exiting the rat race.

[Weekend_Sawyer]

Thank Roxy!

Robert, I am putting a 22' overhang along one of the 60' sides to keep my tractors, trucks, equipment out of the weather.

 

[4x4American]

Great to have a plan.  Especially when it falls together.  Most times I fly by the seat of my britches, but I am trying to improve upon that.  I'm working on my own little plan right now.  It's slow going, but piece by piece things are falling together and it's exciting.


It's sad to see the buildings popping up around you.  Happening all over the place.  Too many DanG people coming into our country year after year. 

[OneWithWood]

Thank Roxy!

Robert, I am putting a 22' overhang along one of the 60' sides to keep my tractors, trucks, equipment out of the weather.

 

That ought to get it 

[fishpharmer]

Congratulations Jon! You have a nice plan!

[customsawyer]

Really happy for you. One day we will be saying we knew you when........

[thecfarm]

You will need all that stuff you collected over the years at the new place.

[moosehunter]

Some years ago when I visited you, you said something about someday selling to the developers and getting out. Good for you and good luck with your plans.
mh

[Brucer]

I once planned to retire at 35. That was my plan, "retire at 35". That wasn't a very good plan and it didn't work.

So then I decided I'd retire at 40. Again, that was my plan. Didn't work.

By that point I figured there was something wrong with my plan so I changed it. I decided to retire at 50. That was the plan. And ... well it sorta worked. I got laid off at age 48 .

Now if I'd had a real plan I would have bought a sawmill a lot sooner, and I'd have bought the land my mill is on for a fraction of what it's worth now, and I'd have a nice little operation going.

I think you're way ahead of me in the retirement planning department. 

[YellowHammer]

Great plan, good start.  I wish you the best. 

[WDH]

A man needs a plan.

[Magicman]

I love your ideas and plan Jon.  I wonder if I had a plan I could set a retirement date.   

[gspren]

  I like to say that retirement is the best job I ever had. Starting back in the 90s when my coworkers would talk about when they might retire I always said "August 2011", I retired last day of August 2011, I worked an entire 11 days after I was eligible and haven't regretted it at all. Try to get to your retirement date with no debt if possible, that makes it much easier.

[WmFritz]

I'm loving "The Plan" Jon.

[Magicman]

I was caught without a plan and was a victim of "downsizing" at age 51.  Thankfully I had taken some very good advice 20 years before concerning what was to later become 401k.  It was not enough to live on, but more of a supplement.  My best day after that was buying a sawmill. 

[yukon cornelius]

Sounds like it is going to work out great! Congrats and good luck!

[scleigh]

Man, thats the American dream, glad it still happens. Congratulations

[slider]

Jon,i like your plan.Not unlike your self i have stuff.Stuff that i just can't part with.Pick out what can part with and drag the rest to your new home.I hope the harley is not on the go list.al