Previously in this two-part feature: Know when to hold 'em, fold 'em: Timing the market for retirement in harsh times
In a truck owner-operator's world, hanging up the saddle and retiring is synonymous with selling the truck and saying goodbye to the open road. The best of the best plan decades in advance to enjoy a long retirement with all their needs met, but as the first part of this feature noted, best-laid plans oft enough go awry. With used-truck, home and stocks values all fluctuating wildly over the last few years, it's shaky ground: Recent polling showed nearly half of respondents didn't feel prepped for retirement.
Among the other half that did, only about 4 in 10 could describe their own situation as "completely" prepared. The balance were just somewhat comfortable with the prospects.
Longtime Overdrive contributor and owner-op coach Gary Buchs, an owner himself who's got a recent-history retirement from the road in his past, noted his best single move wasn't a what, but a when. Buchs and his wife started saving more than 40 years ago, and encourage anyone interested in setting themselves up right for retirement to talk to a professional and "get started early putting in small amounts."
Trucks depreciate, health depreciates, but as Buchs explained, investments over time grow and can build real wealth. Even if you don't have 40 years to watch your investments mature, there's still hope, and plenty you can do to make your money work for you.
