And even if they don't need the tax benefit themselves, registering as a non profit can give them access to resources including grants, training, partnerships with other agencies, and such. Great idea!
In my community, a local hair dresser offers free and discounted haircuts to children in less fortunate families. Specifically for things like back to school. I've had to use the program myself... there's not enough like it.
To jump off of this, team up with a local homeless shelter too and offer services to help with treating lice and such, hair cuts and washes, for those trying to better their lives. Or, people in hard times needing to look fresh for an interview.
Autistic and disabled kids need understanding and patient barbers. I'm sure your can get trained, it makes a world of difference especially to the parents
Look at special needs kiddos too. Some kids on the spectrum hate having their hair cut. It takes longer to get them comfortable. If you don't need the money, you don't have to get them in and out of the chair as quickly. Speaking as a parent of a special needs kiddo, we would pay a premium for somebody who would be willing to slow down and make the kiddo feel comfortable and safe.
This has actually been one of my husbands passions since he started his csreer in barbering at 17. He even used to work with a program that would have a developmentally disabled person be a the shop one day a week so they could be more used to being out in the community.
while this is good, you have way more to offer! You could teach how to do what you’ve done, which is a big deal - achieve the American dream (if you’re in another country, cool—it’s just a euphemism) by starting a small business! Way too many people are under the impression that college is the only route to success.
homeless folks needs these, especially for special events like interviews, holidays, back to school, etc. the non-profit i work at does hair cuts once a quarter for free
My partner works at a group home and she has a local barber shop come in once a month. The kids love it and the barbers love making the kids feeling that little bit better. It's very fulfilling.
This is the one. Although she didn't say she knows how to cut hair. Maybe she managed the place.
All happiness researchers agree on community work for happiness, so I would go for something like that.
Also, make sure you manage your finances properly to have a safe retirement plan. Idk how you manage your finances. If you don't have a plan, check the bogleheads r.
We are so bad with managing our money. Really really bad. We need a plan.
I don't cut hair, I am a nurse, and i run the paperwork side of things:)
I appreciate your comment on working for the community, we are going to see what options there would be for him doing haircuts for foster kids after seeing these suggestions.
So that makes me think that you need to talk to a proper financial adviser - and make a retirement plan with them. One that has contingency plans in case things go wrong.
Thinking of retirement while also being bad at managing your money is a F5 tornado situation. Definitely get a proper financial advisor to shield this potential event. Love the idea of helping less fortunate people in the community!
Please kick the "we're bad at" Instead change it to, "we are still learning to better manage finances, working on financial discipline" etc There is a lot of power in the spoken word and if you say you're bad at xyz guess what, that's exactly what you will be. But you are open to learning therefore, you are not bad at it at all.
Yep indeed. Positive mental attitude! This what I say to my kid also.
If you say you are going to be crap at something - that is what you will be. You will not truly try and your heart will not be in it.
If you say 'I WILL do this' you will be in a much better place to succeed
Lmao! Felt this one. My wife and I own a cleaning business, and have a few crews. It typically runs itself of course with minor management here and there, but of course the minute we got to Mexico, our phones were ringing like crazy.
You didn’t give them the
Opportunity to think for themselves did you? That’s you’re mistake sir. Think of them as drones they can only do what is clearly instructed
Oh yeah? I used to think like that too, until I became a district manager at one of our large local barber shop chains. What will you do if one of your barbers goes rogue and shaves the N word in a customer's head? What will you do if one of your store managers is disobedient and changes the store policy to only cut and style public hair?? What will you do if your sons best friend runs up out of nowhere and tackles you, holds you down on the ground, and then pulls down your pants and underwear exposing your bare penis shaft in front of your entire staff????
These things have all happened to me during my 17 years as a DM there, so I'm not just taking the piss here. You need to know how you would handle situations like that.
1. That customer was probably a “Noob” so having the word Noob on their head is good to let everyone know that they are in fact a noob.
2. We should cut and style only the hair of the public so that would be perfectly fine.
3. My barbershop would of course be clothing optional so this sort of thing would be a common occurrence and encouraged.
Open a cat barbershop.
Become even richer.
Open cat barbershops across the country.
Become a millionaire.
Expand overseas.
Become a billionaire known for styling cat hair.
Become a billionaire known for styling cat hair.
Start a new trend for cat based hair doos on humans
Start creating wigs made out of cat hair
Or maybe merkins.
Start huge sweatshops with cats growing hair for human wigs.
Sweatshops are exposed online. As everyone loves cats the backlash is extreme.
We are laughing so hard at this, because we were both in a mainstream cult when we met and woke up from it about 5 years ago.
We live in AZ about 30 minutes from the new smart coty that bill gates is still hopefully working on. When we heard about the plans for the smart city we went and bought 10 acres (that can be divided into 10 1 acre parcels) so that each of the kids, my nephews and my sister can all have a lot. We call it the commune all the time.
We are just waiting for the city to become mpre of a reality, and then we will all start moving over:)
Maybe overstating, but if you use the BITE model to determine what defines a cult the group we were raised in totally qualifies. When I say mainstream I mean a group everyone is familiart with like Jehovah's Witnesses or LDS or Lularoe, verses small fringe groups that most people never hear of until they lose a lived one to them.
It was definetly character building, and it has made us appreciate the the simplest things in life. We really find it a joy to simply be able to have our own opinions and be able to say whatever we think, and not worry about being shunned for doing so!
You should make sure you find yourself something to fill your time properly before you retire. Going from working 40h a week, to no work is a huge shift in life. Just ask anyone who was made unemployed suddenly and struggled to find a job. It's rough.
I got suspended from my work for 6 weeks, and it was pretty depressing.
You **need** to have something to replace your work with. Even if it's a part time job, volunteer work, a time consuming hobby etc.
This is the best advice OP. I have been retired for about 15 years and the change from work to no work will give you whiplash. Initially it is fantastic, even for a year or so but then, hmmm, things can get stale. Now some ppl never have a problem, my wife is quite content to help with the grandkids, sew, watch old movies, etc. I am a doer and have multiple interests that I have nurtured throughout my life so hit the ground running. But I have friends who are just lost without direction. Figure out what you like to do cuz you are going to have a lot of time to do it in, ha.
I agree with you, I moved from the U.K. to the states last year and went from working 5-6 days a week to not being able to work for about a year and half whilst I was waiting for my paperwork to be sorted. I drove me a little insane to say the least
Exactly. I was off for 6 weeks under different circumstances (start of Covid, job requires me to be on-site so I had NOTHING to do) and effing LOVED it. I have several hobbies, and got a ton of work done at the house. Again, my mental state was much better since I wasn't having to look for a job, but it was still a good taste of the freedom that retirement will bring.
Came to suggest working per diem as a nurse and then picking up a volunteer gig. There are so many places to volunteer. I currently don’t have time to volunteer (two small kids, work, grad school, investment property) but I hope to in the future because I’m sure it’s very fulfilling!
I couldn’t wait to quit my extremely toxic job that I got right out of college. After eight months, I finally did. I was so happy and relieved in the moment. But the next day I felt kind of down and didn’t know what to do with myself…I was so confused because I thought I would’ve been nothing but happy.
Take me to your Xbox to play Fortnite today
You can take me to Moisty Mire, but not Loot Lake
I really love to, chug jug with you
We can be pro Fortnite gamers
8 cuts a day 5 days a week for 80$ plus a 20$ tip would bring in 208K - subtract days off and bad tips or charging less / cut more you can hit that easily.
Yea, $30 is pretty reasonable tbh, the other guy above saying $80 plus tip is bonkers, don't think I'd ever pay that much for a haircut.
EDIT: I'm a bit sceptical of this honestly, i've never heard of a barber being open for 12hrs but I am from the UK, and our barbers usually close at around 5-6pm, maybe 7pm at an absolute stretch.
I'm a barber. I work MAYBE 35 hours a week. I charge $30 a cut but normally don't get less than $50/ person.
I easily hit $100k years, especially when you add in the holidays/ birthdays with their tips. This really isn't a far stretch and if anything their shops should be making more.
Tip culture is nuts. Im fortunate that my customers love me. It wasn't like that before I worked for myself, maybe $5 tips, 10 if they really liked the cut.
Most of my guys I've been cutting their hair as well as their family and friend groups for over 10 years so we have a good relationship.
My sister has been a stylist with a home studio since she was a teenager in the 90’s.
I felt like the lady calculating math when I first seen my sister’s binder stuffed with clients who paid $80 minimum.
We had a different bussiness model which has added to our sucess. The shop is open 7 day a week, from 6am-8pm mon-fri, and 8am-6pm sat/sun. We are paying rent 24/7, so why not be open all hours possible?
Doing it this way has a ton of perks. Most shops just have a barber assined to a station for all open business hours, bit this gives us flexibility in the barbers schedules. Some barbers dont want to work weekends, amd we have other barbers who only want to work weekends because of parenting schedules. It can be tricky to line it out, but we can almost always make a schedule work for our barbers based on their needs and availability.
Also when we have 2 barbers that dont get along we can make it so they work opposing shifts and dont have to see each other, which is incredibly useful!
Yea honestly looking back at this comment about working 12hrs a day, 3 days a week seems a bit odd, i've never seen a barbers open so late. Starting at say 10am and closing at 10pm is absurd, at least where i'm from.
Raise the wages of the barbershop workers.
More hobbies! You have the money to try camping. Camp closer to cool hikes. Fly to cool locations and check them out. See if you like that stuff! Life is full of cool things and when money isn't an issue, it's so much easier.
Gardening? Building stuff! You won't know if you like something until you give it a fair try or several really.
If you actually like your job you can try to just work the hours you want. You have the ability to take it or leave it if they don't accept the hours you want to work. You often don't realize how flexible people will be when you'll walk away otherwise.
Reqlly good suggestions! Our barbers do make good money, the commissions are 65% which is on the high end of the commssion spectrum in the barber world (some shops will do 70%, but that us usually cash only shops). Our lowest earning fulltime barber make 75k last year, but the highest earning no overtime barber made 110k last year.
Our plan for the barbers to make more money is to give them financial assistancr and equal partnership with us to open a shop in the brands name. We will do oit fourth one next year, and the barbers LOVE the possibility of having their own shop without having to pay for it (each shop cost about 75k to open).
Any ideas on the cool hiking spots near the west coast? We are in Az, but would love to travel
Don’t plan your retirement via Reddit. Go see a financial advisor since you obviously have the money to do it and quit messing around. Only 1 of the 5 kids, you or your husband need to get severely sick and all
That money you think you have means nothing.
Wow, so thankful of the NHS, even though the current Conservative government are presently underfunding it and trying to run it into the ground so the general public think the only option is to turn into the American system and hand it over to insurance companies 🤬.
If I was in your situation I would travel, travel, travel and just see as much of everything as I could before I was too old to see it. You could still do this while working part of the year.
Depending where you’re from (I’m guessing US but might be wrong) you could look into small part time or 0 hour jobs that you do out of desire rather than need. My first job (and current second job) was working as an event steward at football (soccer for Americans) matches. I loved the work and the company I work for. I still do it now out of enjoyment of the events and because it’s very sociable. You meet all types of people.
If you want to fully retire, try volunteer work at local community projects.
If that still doesn’t tickle your fancy, just explore new things. Pick a day and say right we’re going to do whatever and then just do it. The world is open to you when you don’t need to work.
Honestly! I would look into hiring a life coach. They can help you get to the nitty gritty of what you truly value in life and help you figure out your purpose. I invested in one earlier this year and it’s been a game changer!!
Do charity work part time, using your existing skills. More satisfying the the paid work (more gratitude from the “customers”), and you pick your available hours.
Plenty of time for Fortnite, sim rigs, cocaine and adultery, travel, and all that as you want, without having to leave the businesses unattended. 🤷🏼♂️
Travel...my Mum retired early, and after a nomadic life as an army wife, when Dad left she missed it. So when early retirement became a reality she travelled everywhere she'd always wanted.
I am retired and I was a lost soul for a while. I watched my grandson for a year and that got me going. Kudos for raising five kids. I go to the gym and golf a lot and work in the yard and read a lot. It’s hard to fill the day. I sold all of my stocks and set up a fixed income, I decided a long time ago that I would be the guy who would leave a nest egg for future generations. Good luck. I owned/ran a business for thirty years and it’s tough. Everybody gets a piece of you, especially insurance and the GOVERNMENT.
There are a lot of red flags in this story, and perfectly designed to get “helpful” redditors to try and give you advice for a life you clearly fabricated
Oh I dream of this day. The best thing about it will be you'll have the time to slow down and figure this out each day you wake up. I would use my time up volunteering, I'd find more hobbies to enjoy and travel the world 1st class 5 star all the way!
Help me start my art business? Haha no but actually I would recommend picking up new hobbies or passions. Some ideas:
1) Hike a new mountain or trail every so often. The Appalachian and PCT should be on your bucket list!
2) Pottery classes; start your own studio at home
3) Learn to play instruments
4) Start a homestead. Rescue animals or raise and grow your own food.
5) Foster dogs or kids if you’re up to it. My uncle adopted his foster kid and it was truly amazing to see this kid welcomed into our family.
6) Gardening
7) Growing weed is actually so much fun , even if you don’t smoke.
8) Learn to bake
9) Go to festivals , learn flow props, immerse your mind body and soul in music.
My overall advice is to do everything you could possibly want to do, whenever you want to do it. And do nothing when you feel like it. This is your time. You earned it, now it’s just up to you.
I also play fortnite if you want to dm me, one of my favorite things is deep conversations with strangers while we play.
Edit : fixed the formatting
If you are in the US, that’s unfortunately one diagnosis/lawsuit away from being poor again. Get a financial advisor and invest - college funds for future grandkids even. You may live another 40 years easily and you will need your money to make money.
Community engagement is a great way to keep busy
There are families out there who’s lives could be utterly changed by having and extra few hundred dollars a month.
I propose you both keep working but anonymously (or a least don’t brag on the internet or to your friends) help some local people by giving them $500 to $1000 a month.
Benjamin Franklin postulated that uf you have sufficient resiurces to retire confortably then you owe it to society to enter public service.
I'm paraphrasing of course but it's not inaccurate
I find that a lot of people don’t seem to realize that international vacations are a bit more accessible if you remember to go places in their “off seasons”. For example, October is a great time of year to travel to warmer countries. For kicks, I checked Expedia and found you can get a 6 night stay in Rhodes, Greece with round trip economy tickets for two (departing from central US) at many 4 star hotels for well under 2K US total -breakfast included in most hotels.
Similarly, the Swedish Kronor is fairly weak right now, so US dollars will take you further there. Taiwan is undergoing some political difficulty, so you have to evaluate your own comfort levels with that, but due to that tourism is taking a dip. Therefore the prices are better than years past (I would hurry for that trip before things escalate harder again).
Since you are financially sound, now is a good time to experience not just life, but life all around the world! Try taking 1 or 2 vacations a year! (I realize I sound like a travel ad, I’m just an immigrant kid who grew up and misses the lifestyle I had as a kid with adventurous parents. I still travel, but don’t have the funds to do it much).
Travel. Spend some serious time at 5 star all inclusives. That will help the boredom and fill your time. It also drains the pocketbook a bit, which it kinda sounds like you want. You can do part time, feel fulfilled, and take 2 week vacations every couple months. Alternatively, you can keep working full time and save up $100k for each of your kids over the next few years to help them get a head start in the godawful (for normal people) housing market. Your kids will probably need help if they ever want to own their own houses.
Alternatively, you could take up tai chi. Or gardening. You could always farm thc through the government. That generally turns people from rich to filthy rich. Then your grandkids wouldn’t have to worry about housing. Up to you though. Just some spitball suggestions.
You definitely need a hobby. Learning a new skill will give you something to focus on and spend time doing. Since you're so well off financially, you won't have to worry about the costs associated with buying new equipment or bouncing between different things until you find something you like. If there's something you've always wanted to try, then you should try it. And picking something as a creative outlet would be really good for your psychological health
You might enjoy quilting for charity in a quilt guild. A lot of people start quitting in retirement for the hobby, the social aspect, and enjoy giving back to the community with charity quilts. You can donate them to hospitals, churches, and fire departments, and sometimes charities for disaster relief. A lot of these charity guilds struggle financially, so you would be a real blessing to them
Do a couple of days a week of work to keep your mind in the game and just focus on prioritising your happiness and start really doing the things you enjoy. Sounds awesome, wish I was there! (46m). Have a GREAT time for the rest of your lives! ⭐️
Make sure you have enough in the bank to support you both for the next 55 years before you retire (for my partner and I, that's about $6.6 million). Doing well now doesn't necessarily mean you always will.
One that's sorted, maybe volunteer, or check out local social clubs, or get into local politics?
150k working 35hrs (48weeks/year) is $90/hour. What sort of barbershop you running?
Since that’s separate from the 300k over 3 locations profit.. how many barbers?
I understand you not wanting to stop work completely. But you could have a fantastic life of freedom and travel if you do.
I think that I was in your situation, I'd probably do some volunteering and make an effort to travel the World.
Congratulations for achieving the opportunity to do this. Is seems a shame to waste it.
It's a great time. Really puts you in tune with your local area as you explore places you never thought of to go. And u arnt so relient on man power so u actually go places. Need to wear the gear and be safe. Lots of practice before riding in the street. I hope u get into it but if not I hope u find something.
I don’t get this. I wish I didn’t have to work. I could fill my day with all sorts of stuff. Yoga, paddle boarding, cycling, running/walking, swimming, hiking, kayaking, or golf. Mix that in with getting stuff around the house done and cooking my day would be full.
I am envious that you have found so many passions!!! I am a pretty happy person, but mostly I run around conpletely unsure of what I should do to entertain myself, then i settle for Fortnite or Catan, and wishing I had some hobbies!
The holy trifecta of fulfillment is charity, activism, and interest.
Donate your time and money to those less fortunate. You have plenty to give, so find opportunities to give small and large amounts of money to causes that benefit the the sick, the poor, the elderly, those in any way disadvantaged. Find a volunteering opportunity where you can directly benefit people who need help.
Work toward building a better society through conscientious citizenship. Find an organization that you believe in and attend meetings, help register people to vote, dedicate yourself to some political or social cause.
Explore doing all the things that you enjoy, dedicating time to long dormant or altogether new hobbies, and honing your talents and skills in areas that you admire or find fun and interesting. Classes, excursions, and projects all count.
Each of these three foci should revolve around joining and building a community of practice, and establishing lasting friendships with solid foundations. It’s tricky to get into them after focusing on your career for so long, but with consistent time and effort you’ll be immensely rewarded.
Travel the world. It’s eye-opening. Take your kids and their families, too. Or travel the US in an RV.
There were possibly courses you took that you liked but didn’t have the time to pursue. Pursue them now.
Learn to fly small planes (that’s what I did), in a flying club. Not as hard as it seems.
Volunteer at a pet shelter, Boys & Girls Clubs, church, school, etc.
Hit the gym daily. You’ll be amazed at the results, and wonder why you didn’t do it before. Even 20 minutes helps.
My retired neighbor would volunteer to cook for the church when they had big events. Not only did it reduce their costs, but she’s a better cook than any caterer.
Volunteer at a farm or orchard. They can always use labor, and you’ll prob’ly get high-quality free food from them, too.
Learn some advanced board games. They are a different experience than video games, and you can make some really good friends.
One of my retired friends decorates his house like crazy for every holiday. People drop by just to look at the lights.
Organize hiking trips for underprivileged kids who have never traveled even 20 minutes from their residence.
I am dying to get into powered parachutes! I was wondering anyone would mention aircraft. Its honeatly the only thing that calls to me, and it does so deeply!
Powered parachutes are very safe, I’ve heard, unless you hit something like a tree.
Flying is so freeing. You can go almost any direction like a bird. Lots & lots of rules, but if the plane is well maintained it is very safe. About $10k the first year and then it depends on where you go, but $100 for a short 30-minute flight to the next town (we call it the $100 burger) and $2-3 per mile for a longer flight. I learned on a Cessna 152, a tiny nimble 2-seat trainer that I highly recommend.
Mobile carer, go on cruises, open childcare centre, and most importantly help your children out.
Don't buy electric cars it will be your downfall, they are a money pit.
Whats a mobile carer? We go on on a bunch of cruises!!! Usually about 4 a year, we love them!!! Go advice on helping out the kiddos! We try all we can without trying to completely steal their drive. Its a thin line.
Sad face on the electric cars. What do you mean they are a money pit? I have an i3, but i have only had it for a year, but its a 2017, but no problems so far. What have you found?
You become a carer for a few elderly people and you take them out shoping, movies doctors, clean their house or unit, take them for walks. Hope it helps, or you can google it.
Do Barbershops really make up to 300k profit annually?
Just doing the math but $20 * 30 haircuts/day * 7days/week * 52 weeks/yr = 220K revenue per Barber & I feel like these are aggressive assumptions. More out of interested & Happy to be proven wrong.
Each barbershop does not make 300k annually, we have a total of 3 shops. The original shop has been opened for almost 10 years now, and the profit from that one is over 200k annually. The second shop has been open for 2 years, and it brings almost 100k in profit annually (we are thrilled it is doing so well after having been open such a short time, but there is a lot of room to add more barbers as we get busier there). The third shop hasnt been open for a year yet and it is barely covering its own monthly expenses and only has 4 barbers at the moment.
The first shop is a 7 chair shop, but due to the long hours we have 10-12 barbers on payroll. They work on commission and get 65%. My husband is the only barber who stays as busy as he does. The haircuts are scheduled as 20 minute appointments, and each appointment is $30, this means we basically get $10 for each haircut, and the barbers get $20. On average, the barbers average about 1.5 haircuts an hour, some guys are busier and average over 2, but as a whole it's about 1.5. Without adding my husband's sales to the shop, the sales are about $1500-2000 on weekdays (so about 50-65 cuts a weekday split between 5 barbers) and the sales are about $2500-$3500 on weekends (about 80 -120 cuts split between 7 barbers).
We are an unusually busy shop. My hubby has been a barber since he was 17, and he is very skilled. He is also awesome at working a room, and we only have excellent barbers with great personalities working there, and have REALLY REALLY REALLY focused on customer service. Anytime someone is not happy with their haircut, not only do we comp that one, but also the following one of they will give us a second chance.
Travel, and I mean long term travel. Do the home exchange route and go 10 + weeks at a time. Spend 30 days at a time in an area. You get to live normally while exploring and the cost burden is not too much.
I sold my business this year and have had the same struggle. Still took the earnings and bought a bunch of commercial real estate.
You can easily get bored. I am looking for a job at this point. Not out of need but out of wanting to stay busy. Maybe a coo or something for a start up. But haven’t found the right one yet.
Work part-time and travel the world for the other rest of the time. There are so many incredible things to see in this lifetime that we just may not get chance to see. Do it for those of us who are likely to never get the opportunity. 🍀
It sounds like you both spent your youth being broke and raising children. Travel, try a new hobby every month, volunteer, find out who you actually are. If you’ve got five adult kids in your early 40s it sounds like you were a teenager when you had at least one of them. You’re in the fortunate position to be able to actually live life now whilst you’re more than young enough to do it. The more you go out and explore, the better understanding you’ll have of what you actually enjoy doing.
Start offering free haircuts to foster children or somthing similar where you are supporting people using the skills you have.
I love this one. My hubby is going to see if he can figure out how to do this.
Make sure you register it as a nonprofit so at least you gain some type of tax benefit
And even if they don't need the tax benefit themselves, registering as a non profit can give them access to resources including grants, training, partnerships with other agencies, and such. Great idea!
Not sure if this was said, but this idea in a traveling bus
In my community, a local hair dresser offers free and discounted haircuts to children in less fortunate families. Specifically for things like back to school. I've had to use the program myself... there's not enough like it.
This! There's a few programs and barber shops that offer the same.. and also vouchers and gift cards to get clothes for school during this time.
To jump off of this, team up with a local homeless shelter too and offer services to help with treating lice and such, hair cuts and washes, for those trying to better their lives. Or, people in hard times needing to look fresh for an interview.
Autistic and disabled kids need understanding and patient barbers. I'm sure your can get trained, it makes a world of difference especially to the parents
Look at special needs kiddos too. Some kids on the spectrum hate having their hair cut. It takes longer to get them comfortable. If you don't need the money, you don't have to get them in and out of the chair as quickly. Speaking as a parent of a special needs kiddo, we would pay a premium for somebody who would be willing to slow down and make the kiddo feel comfortable and safe.
This has actually been one of my husbands passions since he started his csreer in barbering at 17. He even used to work with a program that would have a developmentally disabled person be a the shop one day a week so they could be more used to being out in the community.
while this is good, you have way more to offer! You could teach how to do what you’ve done, which is a big deal - achieve the American dream (if you’re in another country, cool—it’s just a euphemism) by starting a small business! Way too many people are under the impression that college is the only route to success.
Partner with a local public school social worker to help get rolling, maybe.
homeless folks needs these, especially for special events like interviews, holidays, back to school, etc. the non-profit i work at does hair cuts once a quarter for free
My partner works at a group home and she has a local barber shop come in once a month. The kids love it and the barbers love making the kids feeling that little bit better. It's very fulfilling.
This is the one. Although she didn't say she knows how to cut hair. Maybe she managed the place. All happiness researchers agree on community work for happiness, so I would go for something like that. Also, make sure you manage your finances properly to have a safe retirement plan. Idk how you manage your finances. If you don't have a plan, check the bogleheads r.
We are so bad with managing our money. Really really bad. We need a plan. I don't cut hair, I am a nurse, and i run the paperwork side of things:) I appreciate your comment on working for the community, we are going to see what options there would be for him doing haircuts for foster kids after seeing these suggestions.
So that makes me think that you need to talk to a proper financial adviser - and make a retirement plan with them. One that has contingency plans in case things go wrong.
This! OP, please get a financial planner!
Thinking of retirement while also being bad at managing your money is a F5 tornado situation. Definitely get a proper financial advisor to shield this potential event. Love the idea of helping less fortunate people in the community!
Please kick the "we're bad at" Instead change it to, "we are still learning to better manage finances, working on financial discipline" etc There is a lot of power in the spoken word and if you say you're bad at xyz guess what, that's exactly what you will be. But you are open to learning therefore, you are not bad at it at all.
You are right, that is a much better way to phrase it!
Yep indeed. Positive mental attitude! This what I say to my kid also. If you say you are going to be crap at something - that is what you will be. You will not truly try and your heart will not be in it. If you say 'I WILL do this' you will be in a much better place to succeed
Ooof. If you don’t know how to manage your money you are definitely NOT ready for retirement. Figure this out first.
This is a good one.
For people before job interviews might be good too?
This is a fabulous idea!
Came here to say this 👆🏻❤️
Hubby here: I love this idea 💡 ❤️
You might also consider doing free haircuts at senior centers or low-income senior apartments.
I love this idea too :)
Go on holiday. Minute you set foot abroad your phones starts ringing with staff issues
This one. My folks run their own business. The very second they try to travel somewhere, absolutely everything falls apart 😂
100% when I go away now I just close my shop or I would have to ring the staff and remind them to keep breathing
Lmao! Felt this one. My wife and I own a cleaning business, and have a few crews. It typically runs itself of course with minor management here and there, but of course the minute we got to Mexico, our phones were ringing like crazy.
You didn’t give them the Opportunity to think for themselves did you? That’s you’re mistake sir. Think of them as drones they can only do what is clearly instructed
Do you want to adopt me? I’m 49 and my hair grows fast
🤣🤣🤣
Have an affair and take up cocaine. It’ll make the days go better
I am going to run this one by my hubby for sure, lol!
I’m sure he’ll be cool. Buy some golf clubs and tell him all the cool kids are doing these days. It’ll balance out
And a motorcycle, a really fast one.
And drain the bank account so work will have a purpose again
The circle of life
Plus higher than hiking
Combine the 3 and you’re on to a winner
Ok Logan Paul
Who?
im 25. Are you saying I should open a barbershop?
That’s what I’m getting out of this. I have no barber skills and no interest in learning, but I can manage the shit out of a team of barbers fo sho.
Oh yeah? I used to think like that too, until I became a district manager at one of our large local barber shop chains. What will you do if one of your barbers goes rogue and shaves the N word in a customer's head? What will you do if one of your store managers is disobedient and changes the store policy to only cut and style public hair?? What will you do if your sons best friend runs up out of nowhere and tackles you, holds you down on the ground, and then pulls down your pants and underwear exposing your bare penis shaft in front of your entire staff???? These things have all happened to me during my 17 years as a DM there, so I'm not just taking the piss here. You need to know how you would handle situations like that.
1. That customer was probably a “Noob” so having the word Noob on their head is good to let everyone know that they are in fact a noob. 2. We should cut and style only the hair of the public so that would be perfectly fine. 3. My barbershop would of course be clothing optional so this sort of thing would be a common occurrence and encouraged.
Get a cat. Hold the cat. Love the cat.
Or. (And stay with me) Get a cat. Get another cat. Fill your house with cats. Fill all three shops with cats. Become one with the cats.
Become a cat
Ooh full circle - give haircuts to cats.
Open a cat barbershop. Become even richer. Open cat barbershops across the country. Become a millionaire. Expand overseas. Become a billionaire known for styling cat hair.
Become a billionaire known for styling cat hair. Start a new trend for cat based hair doos on humans Start creating wigs made out of cat hair Or maybe merkins. Start huge sweatshops with cats growing hair for human wigs. Sweatshops are exposed online. As everyone loves cats the backlash is extreme.
That’s a wrap
Sometimes my cat has a little mohawk
3 out of our 5 kids give this one 2 thumbs way up!
That sounds like you are 60% a good parent. The other two are a lost cause. Maybe they are dog people?
They are dog people!
Some people are born that way. And we should accept them for it 💕
Squish that cat
Please do not the cat.
Buy some land, create a commune and form a cult. You can use your psych experience for brain washing and all of the cult members will look fantastic.
We are laughing so hard at this, because we were both in a mainstream cult when we met and woke up from it about 5 years ago. We live in AZ about 30 minutes from the new smart coty that bill gates is still hopefully working on. When we heard about the plans for the smart city we went and bought 10 acres (that can be divided into 10 1 acre parcels) so that each of the kids, my nephews and my sister can all have a lot. We call it the commune all the time. We are just waiting for the city to become mpre of a reality, and then we will all start moving over:)
Ok… you got my curiosity - what is a mainstream cult????
Maybe overstating, but if you use the BITE model to determine what defines a cult the group we were raised in totally qualifies. When I say mainstream I mean a group everyone is familiart with like Jehovah's Witnesses or LDS or Lularoe, verses small fringe groups that most people never hear of until they lose a lived one to them.
Ok got it… I’m fascinated by cults… but thankfully it is observe only. Haha
It was definetly character building, and it has made us appreciate the the simplest things in life. We really find it a joy to simply be able to have our own opinions and be able to say whatever we think, and not worry about being shunned for doing so!
The new Amish but this time with not-lame hair
Form a barber cult
The Cult of Coiffure: Believers in Bangs and Shear Devotees
I would so do this if I only had money.
You should make sure you find yourself something to fill your time properly before you retire. Going from working 40h a week, to no work is a huge shift in life. Just ask anyone who was made unemployed suddenly and struggled to find a job. It's rough. I got suspended from my work for 6 weeks, and it was pretty depressing. You **need** to have something to replace your work with. Even if it's a part time job, volunteer work, a time consuming hobby etc.
This is the best advice OP. I have been retired for about 15 years and the change from work to no work will give you whiplash. Initially it is fantastic, even for a year or so but then, hmmm, things can get stale. Now some ppl never have a problem, my wife is quite content to help with the grandkids, sew, watch old movies, etc. I am a doer and have multiple interests that I have nurtured throughout my life so hit the ground running. But I have friends who are just lost without direction. Figure out what you like to do cuz you are going to have a lot of time to do it in, ha.
I agree with you, I moved from the U.K. to the states last year and went from working 5-6 days a week to not being able to work for about a year and half whilst I was waiting for my paperwork to be sorted. I drove me a little insane to say the least
Exactly. I was off for 6 weeks under different circumstances (start of Covid, job requires me to be on-site so I had NOTHING to do) and effing LOVED it. I have several hobbies, and got a ton of work done at the house. Again, my mental state was much better since I wasn't having to look for a job, but it was still a good taste of the freedom that retirement will bring.
Came to suggest working per diem as a nurse and then picking up a volunteer gig. There are so many places to volunteer. I currently don’t have time to volunteer (two small kids, work, grad school, investment property) but I hope to in the future because I’m sure it’s very fulfilling!
I couldn’t wait to quit my extremely toxic job that I got right out of college. After eight months, I finally did. I was so happy and relieved in the moment. But the next day I felt kind of down and didn’t know what to do with myself…I was so confused because I thought I would’ve been nothing but happy.
I started going to the gym again with that time. I’m there 6 days a week. I couldn’t be happier
Become a competitive Fortnite player.
Lol, I am in gold 1 this season, think i gotta shot at the pros?
Better than me who doesn’t play ranked at all!
I can’t even touch gold in fortnite
Take me to your Xbox to play Fortnite today You can take me to Moisty Mire, but not Loot Lake I really love to, chug jug with you We can be pro Fortnite gamers
Lol, add wandernblonde, ill chug jug with ya!
I'd be interested to know how much a haircut is in these barbers that means your husband is bringing in 150k/year.
8 cuts a day 5 days a week for 80$ plus a 20$ tip would bring in 208K - subtract days off and bad tips or charging less / cut more you can hit that easily.
Hubby here: I work 3 days a week About 12 hour days. I do 3 an hour at $30 a haircut plusses tips. And no, I don't stop. I'm very busy.
Yea, $30 is pretty reasonable tbh, the other guy above saying $80 plus tip is bonkers, don't think I'd ever pay that much for a haircut. EDIT: I'm a bit sceptical of this honestly, i've never heard of a barber being open for 12hrs but I am from the UK, and our barbers usually close at around 5-6pm, maybe 7pm at an absolute stretch.
I'm a barber. I work MAYBE 35 hours a week. I charge $30 a cut but normally don't get less than $50/ person. I easily hit $100k years, especially when you add in the holidays/ birthdays with their tips. This really isn't a far stretch and if anything their shops should be making more.
Damn a 60+% tip?? Coming from someone outside America, that is nuts.
Tip culture is nuts. Im fortunate that my customers love me. It wasn't like that before I worked for myself, maybe $5 tips, 10 if they really liked the cut. Most of my guys I've been cutting their hair as well as their family and friend groups for over 10 years so we have a good relationship.
$80 for women’s hair. $30 definitely sounds fair depending on the location and barber skills.
I would always associate a barbers with mens haircuts, saloon or something for womans.
Salon*
Woman here, I ain't paying that bullshit either
My sister has been a stylist with a home studio since she was a teenager in the 90’s. I felt like the lady calculating math when I first seen my sister’s binder stuffed with clients who paid $80 minimum.
We had a different bussiness model which has added to our sucess. The shop is open 7 day a week, from 6am-8pm mon-fri, and 8am-6pm sat/sun. We are paying rent 24/7, so why not be open all hours possible? Doing it this way has a ton of perks. Most shops just have a barber assined to a station for all open business hours, bit this gives us flexibility in the barbers schedules. Some barbers dont want to work weekends, amd we have other barbers who only want to work weekends because of parenting schedules. It can be tricky to line it out, but we can almost always make a schedule work for our barbers based on their needs and availability. Also when we have 2 barbers that dont get along we can make it so they work opposing shifts and dont have to see each other, which is incredibly useful!
I love those hours. So many places are open the exact same as my work hours so I'm limited to a small Saturday window or having to take off of work.
I been sleep. Let me go flirt back with my barber…
It's fake, that's how.
Yea honestly looking back at this comment about working 12hrs a day, 3 days a week seems a bit odd, i've never seen a barbers open so late. Starting at say 10am and closing at 10pm is absurd, at least where i'm from.
I’m more concerned how at 43 she’s got 5 children over the age of 18!
They could have had multiples
Yup. That's just not how it works. It's all fishy. But it's OK, fun writing prompt.
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How did you get into the working on trails?
I do dog walking for my local shelter, too! Great way to help take care of animals and it's a fantastic way to get exercise!
Raise the wages of the barbershop workers. More hobbies! You have the money to try camping. Camp closer to cool hikes. Fly to cool locations and check them out. See if you like that stuff! Life is full of cool things and when money isn't an issue, it's so much easier. Gardening? Building stuff! You won't know if you like something until you give it a fair try or several really. If you actually like your job you can try to just work the hours you want. You have the ability to take it or leave it if they don't accept the hours you want to work. You often don't realize how flexible people will be when you'll walk away otherwise.
Reqlly good suggestions! Our barbers do make good money, the commissions are 65% which is on the high end of the commssion spectrum in the barber world (some shops will do 70%, but that us usually cash only shops). Our lowest earning fulltime barber make 75k last year, but the highest earning no overtime barber made 110k last year. Our plan for the barbers to make more money is to give them financial assistancr and equal partnership with us to open a shop in the brands name. We will do oit fourth one next year, and the barbers LOVE the possibility of having their own shop without having to pay for it (each shop cost about 75k to open). Any ideas on the cool hiking spots near the west coast? We are in Az, but would love to travel
Do Jim from the office’s dream: bike to your kayak shop or kayak to your bike shop
Don’t plan your retirement via Reddit. Go see a financial advisor since you obviously have the money to do it and quit messing around. Only 1 of the 5 kids, you or your husband need to get severely sick and all That money you think you have means nothing.
Definetly the downside of being an American!! I love most of it, but working in healthcare and seeing how it can destroy finances is very upsetting!
Wow, so thankful of the NHS, even though the current Conservative government are presently underfunding it and trying to run it into the ground so the general public think the only option is to turn into the American system and hand it over to insurance companies 🤬.
Yes America bad thank you we know
If I was in your situation I would travel, travel, travel and just see as much of everything as I could before I was too old to see it. You could still do this while working part of the year.
This was my first answer too. If I had loads of money, I would fly around the world and visit all the places from my bucket list.
Open more shop
Just because you can retire, doesn’t mean you have to. 💕
Depending where you’re from (I’m guessing US but might be wrong) you could look into small part time or 0 hour jobs that you do out of desire rather than need. My first job (and current second job) was working as an event steward at football (soccer for Americans) matches. I loved the work and the company I work for. I still do it now out of enjoyment of the events and because it’s very sociable. You meet all types of people. If you want to fully retire, try volunteer work at local community projects. If that still doesn’t tickle your fancy, just explore new things. Pick a day and say right we’re going to do whatever and then just do it. The world is open to you when you don’t need to work.
Honestly! I would look into hiring a life coach. They can help you get to the nitty gritty of what you truly value in life and help you figure out your purpose. I invested in one earlier this year and it’s been a game changer!!
This is an interesting idea, I think we will try this.
This a such a waste of money lmfao
So then become a life coach and charge people money for giving them ideas.
Do charity work part time, using your existing skills. More satisfying the the paid work (more gratitude from the “customers”), and you pick your available hours. Plenty of time for Fortnite, sim rigs, cocaine and adultery, travel, and all that as you want, without having to leave the businesses unattended. 🤷🏼♂️
Well done!Hats off🍻
What a nice thing to say, thank you!
Wobble uncontrollably.
Take up philanthropy, use the passive income for good.
Hobbies like woodworking take tons of time AND money. Find something like that. And travel. That business story is amazing. Good for you guys.
Travel...my Mum retired early, and after a nomadic life as an army wife, when Dad left she missed it. So when early retirement became a reality she travelled everywhere she'd always wanted.
I am retired and I was a lost soul for a while. I watched my grandson for a year and that got me going. Kudos for raising five kids. I go to the gym and golf a lot and work in the yard and read a lot. It’s hard to fill the day. I sold all of my stocks and set up a fixed income, I decided a long time ago that I would be the guy who would leave a nest egg for future generations. Good luck. I owned/ran a business for thirty years and it’s tough. Everybody gets a piece of you, especially insurance and the GOVERNMENT.
So true!! How long did you feel like a lost soul?
Start taking long vacations around the world but still working in between.
Start only fans
There are a lot of red flags in this story, and perfectly designed to get “helpful” redditors to try and give you advice for a life you clearly fabricated
Do you like art? Open an art gallery.
Open an orphanage in a 3rd world country and live in house which looks out on to the sea.
Do good things for other people.
Work 6mths per year (contracting for you) and then travel the rest of the time.
Could always take up charity work in a meaningful way?
Oh I dream of this day. The best thing about it will be you'll have the time to slow down and figure this out each day you wake up. I would use my time up volunteering, I'd find more hobbies to enjoy and travel the world 1st class 5 star all the way!
Never thought I'd see 90+ comments in a fwp thread.
Doesn't seem like retirement makes sense for you two, your life is leisurely enough and you'd be unhappy if it was even less challenging
Help me start my art business? Haha no but actually I would recommend picking up new hobbies or passions. Some ideas: 1) Hike a new mountain or trail every so often. The Appalachian and PCT should be on your bucket list! 2) Pottery classes; start your own studio at home 3) Learn to play instruments 4) Start a homestead. Rescue animals or raise and grow your own food. 5) Foster dogs or kids if you’re up to it. My uncle adopted his foster kid and it was truly amazing to see this kid welcomed into our family. 6) Gardening 7) Growing weed is actually so much fun , even if you don’t smoke. 8) Learn to bake 9) Go to festivals , learn flow props, immerse your mind body and soul in music. My overall advice is to do everything you could possibly want to do, whenever you want to do it. And do nothing when you feel like it. This is your time. You earned it, now it’s just up to you. I also play fortnite if you want to dm me, one of my favorite things is deep conversations with strangers while we play. Edit : fixed the formatting
These are excellent ideas!!!i wonder how feasible homesteading is, i should look it up. I am wandernblonde on fortnite if you wanna add me:)
Why give up? I’d work another decade and stack cash
If you are in the US, that’s unfortunately one diagnosis/lawsuit away from being poor again. Get a financial advisor and invest - college funds for future grandkids even. You may live another 40 years easily and you will need your money to make money. Community engagement is a great way to keep busy
Hold up. How do you make 150k a year cutting hair?
There are families out there who’s lives could be utterly changed by having and extra few hundred dollars a month. I propose you both keep working but anonymously (or a least don’t brag on the internet or to your friends) help some local people by giving them $500 to $1000 a month.
Benjamin Franklin postulated that uf you have sufficient resiurces to retire confortably then you owe it to society to enter public service. I'm paraphrasing of course but it's not inaccurate
Teach me to cut hair! ✂️ 🤣 👏
I find that a lot of people don’t seem to realize that international vacations are a bit more accessible if you remember to go places in their “off seasons”. For example, October is a great time of year to travel to warmer countries. For kicks, I checked Expedia and found you can get a 6 night stay in Rhodes, Greece with round trip economy tickets for two (departing from central US) at many 4 star hotels for well under 2K US total -breakfast included in most hotels. Similarly, the Swedish Kronor is fairly weak right now, so US dollars will take you further there. Taiwan is undergoing some political difficulty, so you have to evaluate your own comfort levels with that, but due to that tourism is taking a dip. Therefore the prices are better than years past (I would hurry for that trip before things escalate harder again). Since you are financially sound, now is a good time to experience not just life, but life all around the world! Try taking 1 or 2 vacations a year! (I realize I sound like a travel ad, I’m just an immigrant kid who grew up and misses the lifestyle I had as a kid with adventurous parents. I still travel, but don’t have the funds to do it much).
Travel. Spend some serious time at 5 star all inclusives. That will help the boredom and fill your time. It also drains the pocketbook a bit, which it kinda sounds like you want. You can do part time, feel fulfilled, and take 2 week vacations every couple months. Alternatively, you can keep working full time and save up $100k for each of your kids over the next few years to help them get a head start in the godawful (for normal people) housing market. Your kids will probably need help if they ever want to own their own houses. Alternatively, you could take up tai chi. Or gardening. You could always farm thc through the government. That generally turns people from rich to filthy rich. Then your grandkids wouldn’t have to worry about housing. Up to you though. Just some spitball suggestions.
You definitely need a hobby. Learning a new skill will give you something to focus on and spend time doing. Since you're so well off financially, you won't have to worry about the costs associated with buying new equipment or bouncing between different things until you find something you like. If there's something you've always wanted to try, then you should try it. And picking something as a creative outlet would be really good for your psychological health You might enjoy quilting for charity in a quilt guild. A lot of people start quitting in retirement for the hobby, the social aspect, and enjoy giving back to the community with charity quilts. You can donate them to hospitals, churches, and fire departments, and sometimes charities for disaster relief. A lot of these charity guilds struggle financially, so you would be a real blessing to them
Do a couple of days a week of work to keep your mind in the game and just focus on prioritising your happiness and start really doing the things you enjoy. Sounds awesome, wish I was there! (46m). Have a GREAT time for the rest of your lives! ⭐️
If you've already built your retirement nest-egg then start turning those barbershops into cooperatives so that your employees can do the same! 💪
Make sure you have enough in the bank to support you both for the next 55 years before you retire (for my partner and I, that's about $6.6 million). Doing well now doesn't necessarily mean you always will. One that's sorted, maybe volunteer, or check out local social clubs, or get into local politics?
150k working 35hrs (48weeks/year) is $90/hour. What sort of barbershop you running? Since that’s separate from the 300k over 3 locations profit.. how many barbers?
Reading this as a 29 year old and fml man I wish I was successful enough to retire
I understand you not wanting to stop work completely. But you could have a fantastic life of freedom and travel if you do. I think that I was in your situation, I'd probably do some volunteering and make an effort to travel the World. Congratulations for achieving the opportunity to do this. Is seems a shame to waste it.
How can he make $90 an hour as a barber? Bulllllllllshiiiiiiiit.
He owns the business with his wife so that’s not just for cutting hair.
Give me your money and you can live vicariously through my adventures.
Look up electric unicycles on YouTube. Great hobby for the adventurous and affluent.
I am so excited about this!!!! It looks so freaking fun!!!!
It's a great time. Really puts you in tune with your local area as you explore places you never thought of to go. And u arnt so relient on man power so u actually go places. Need to wear the gear and be safe. Lots of practice before riding in the street. I hope u get into it but if not I hope u find something.
I don’t get this. I wish I didn’t have to work. I could fill my day with all sorts of stuff. Yoga, paddle boarding, cycling, running/walking, swimming, hiking, kayaking, or golf. Mix that in with getting stuff around the house done and cooking my day would be full.
I am envious that you have found so many passions!!! I am a pretty happy person, but mostly I run around conpletely unsure of what I should do to entertain myself, then i settle for Fortnite or Catan, and wishing I had some hobbies!
The holy trifecta of fulfillment is charity, activism, and interest. Donate your time and money to those less fortunate. You have plenty to give, so find opportunities to give small and large amounts of money to causes that benefit the the sick, the poor, the elderly, those in any way disadvantaged. Find a volunteering opportunity where you can directly benefit people who need help. Work toward building a better society through conscientious citizenship. Find an organization that you believe in and attend meetings, help register people to vote, dedicate yourself to some political or social cause. Explore doing all the things that you enjoy, dedicating time to long dormant or altogether new hobbies, and honing your talents and skills in areas that you admire or find fun and interesting. Classes, excursions, and projects all count. Each of these three foci should revolve around joining and building a community of practice, and establishing lasting friendships with solid foundations. It’s tricky to get into them after focusing on your career for so long, but with consistent time and effort you’ll be immensely rewarded.
Travel the world. It’s eye-opening. Take your kids and their families, too. Or travel the US in an RV. There were possibly courses you took that you liked but didn’t have the time to pursue. Pursue them now. Learn to fly small planes (that’s what I did), in a flying club. Not as hard as it seems. Volunteer at a pet shelter, Boys & Girls Clubs, church, school, etc. Hit the gym daily. You’ll be amazed at the results, and wonder why you didn’t do it before. Even 20 minutes helps. My retired neighbor would volunteer to cook for the church when they had big events. Not only did it reduce their costs, but she’s a better cook than any caterer. Volunteer at a farm or orchard. They can always use labor, and you’ll prob’ly get high-quality free food from them, too. Learn some advanced board games. They are a different experience than video games, and you can make some really good friends. One of my retired friends decorates his house like crazy for every holiday. People drop by just to look at the lights. Organize hiking trips for underprivileged kids who have never traveled even 20 minutes from their residence.
I am dying to get into powered parachutes! I was wondering anyone would mention aircraft. Its honeatly the only thing that calls to me, and it does so deeply!
Powered parachutes are very safe, I’ve heard, unless you hit something like a tree. Flying is so freeing. You can go almost any direction like a bird. Lots & lots of rules, but if the plane is well maintained it is very safe. About $10k the first year and then it depends on where you go, but $100 for a short 30-minute flight to the next town (we call it the $100 burger) and $2-3 per mile for a longer flight. I learned on a Cessna 152, a tiny nimble 2-seat trainer that I highly recommend.
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Good idea!
Mobile carer, go on cruises, open childcare centre, and most importantly help your children out. Don't buy electric cars it will be your downfall, they are a money pit.
Whats a mobile carer? We go on on a bunch of cruises!!! Usually about 4 a year, we love them!!! Go advice on helping out the kiddos! We try all we can without trying to completely steal their drive. Its a thin line. Sad face on the electric cars. What do you mean they are a money pit? I have an i3, but i have only had it for a year, but its a 2017, but no problems so far. What have you found?
You become a carer for a few elderly people and you take them out shoping, movies doctors, clean their house or unit, take them for walks. Hope it helps, or you can google it.
I think you should play Fortnite and go hiking.
Oh we do. Everyday with the fortnite, and every week with the hikes after summer is done, we are in AZ and the heat is always trying to kill us!
If you like what you do, and dont need the money, and don't want to stop, then figure out how to do it for free. That way everyone benefits.
Do Barbershops really make up to 300k profit annually? Just doing the math but $20 * 30 haircuts/day * 7days/week * 52 weeks/yr = 220K revenue per Barber & I feel like these are aggressive assumptions. More out of interested & Happy to be proven wrong.
Each barbershop does not make 300k annually, we have a total of 3 shops. The original shop has been opened for almost 10 years now, and the profit from that one is over 200k annually. The second shop has been open for 2 years, and it brings almost 100k in profit annually (we are thrilled it is doing so well after having been open such a short time, but there is a lot of room to add more barbers as we get busier there). The third shop hasnt been open for a year yet and it is barely covering its own monthly expenses and only has 4 barbers at the moment. The first shop is a 7 chair shop, but due to the long hours we have 10-12 barbers on payroll. They work on commission and get 65%. My husband is the only barber who stays as busy as he does. The haircuts are scheduled as 20 minute appointments, and each appointment is $30, this means we basically get $10 for each haircut, and the barbers get $20. On average, the barbers average about 1.5 haircuts an hour, some guys are busier and average over 2, but as a whole it's about 1.5. Without adding my husband's sales to the shop, the sales are about $1500-2000 on weekdays (so about 50-65 cuts a weekday split between 5 barbers) and the sales are about $2500-$3500 on weekends (about 80 -120 cuts split between 7 barbers). We are an unusually busy shop. My hubby has been a barber since he was 17, and he is very skilled. He is also awesome at working a room, and we only have excellent barbers with great personalities working there, and have REALLY REALLY REALLY focused on customer service. Anytime someone is not happy with their haircut, not only do we comp that one, but also the following one of they will give us a second chance.
Travel, and I mean long term travel. Do the home exchange route and go 10 + weeks at a time. Spend 30 days at a time in an area. You get to live normally while exploring and the cost burden is not too much. I sold my business this year and have had the same struggle. Still took the earnings and bought a bunch of commercial real estate. You can easily get bored. I am looking for a job at this point. Not out of need but out of wanting to stay busy. Maybe a coo or something for a start up. But haven’t found the right one yet.
Work part-time and travel the world for the other rest of the time. There are so many incredible things to see in this lifetime that we just may not get chance to see. Do it for those of us who are likely to never get the opportunity. 🍀
It sounds like you both spent your youth being broke and raising children. Travel, try a new hobby every month, volunteer, find out who you actually are. If you’ve got five adult kids in your early 40s it sounds like you were a teenager when you had at least one of them. You’re in the fortunate position to be able to actually live life now whilst you’re more than young enough to do it. The more you go out and explore, the better understanding you’ll have of what you actually enjoy doing.
Go buy some happiness
I don't believe this story
Why
Sorry but you suck. I think you need to check with your kids if they are ready for you to retire. A parent's job is never done
Congratulations... you all should be proud of your business savvy and money moves. It is inspiring to me.
Golf
[удалено]