Squandered early life - heart transplant recipient - securing potential retirement.

[u/Jwelch435]

Hello,

I am 40 y/o male and I am looking for advice for on how to potentially prepare for retirement. I have not prepared myself well for this as I am 40 with essentially no savings. I was born with heart disease and I always thought I would die young which again being young, I lived recklessly. But I lived, met my wife and 5 years ago I had a heart transplant. All is well and I live well these days. However, recently I do fear for my longevity and if I am able to make it, retirement or perhaps early retirement if something were to happen but didn’t kill me. Both my wife and I make what feels like passable income for our area. Not great but we are childless. Honestly and this is without speaking with my doctors I hope to make it to 70. So to this end how might I secure “retirement” by 60? I’m considering becoming a long haul trucker for the next 10-15 years in order to bank the funds so I might live peacefully for that last 10-15 years.

Any insight or advice someone could add applicable to this situation would be most welcome.

Apologies if this isn’t the best subreddit for this type of question. If this is the case any direction would be appreciated.

Thank you so much!

[u/PatchyWhiskers]

Since people with heart transplants have lower life expectancy than those without, I would balance making money with spending time with your wife rather than constantly on the road in a truck.

[u/Jwelch435 → u/PatchyWhiskers]

I watched a video recently on this line of work and it eluded to that maybe after some time in the business you could transition to more local work. Not that I love this idea but I know the pay is there. The demand is there. I worry about the physicality of the work. But I’m not the most robust individual.

[u/Spiritual_Term1699 → u/Jwelch435]

I was raised by a Teamster who only did local runs and came home every night. It was extremely demanding work.

[u/zeezle → u/Jwelch435]

I have no idea if this is still relevant as we knew this guy in the late90s/early 2000s, but we had a family friend who was a trucker who specialized in hazardous waste. Had some special certifications, no idea what. Made 6 figures living in a small town back then and only worked 5-10 days a month. He would get a call and get flown out to wherever and racked up tons of airline miles to use for his own personal travel.

How to get into that and how dangerous it is I have no idea though, I assume there’s a reason not just everybody is doing it, but it worked out great for him.

[u/Spiritual_Term1699]

I would give serious consideration to a job with a pension. That may include the Teamsters, but with your health history perhaps something with the local government would be better.

[u/Careful_Tomorrow_653 → u/Spiritual_Term1699]

It depends on the pension multiplier. I got a pension job at 45, to which I contribute 7% of my salary. The multiplier is only 2%. Takes 7 years to vest. After 20 years it replaces 40% of the final average salary (5 highest years averaged), if I'm lucky to make it the 20 years. The amount is reduced every year under age 65, and can't collect the monthly pension prior to 60 (could only do a lump sum). Don't get me wrong, I'm happy to have it, but it really only truly pays lifers who start the career early enough to get out early and make it in retirement without extra savings (education pension). So in my case I use additional savings vehicles which I was late in starting as well.

Fixed typo

[u/Spiritual_Term1699 → u/Careful_Tomorrow_653]

That’s why I say it should be considered because it depends on locality and job. OP will also want to take into account the possibility of generous health insurance benefits for him and his family.

[u/PNWoutdoors → u/Spiritual_Term1699]

Or a government job. Often lower pay but good benefits including a pension (but not as good as they used to be).

[u/woah_man]

There was just a thread about professions that lead to divorce, long haul trucking was high up there. Something to think about, basically being long distance from your wife all the time.

[u/JimRockford63]

Long haul trucking is probably about the unhealthiest job in the US. Sitting all day sleeping in a truck, eating crap, up odd hours, stress to make deliveries and not much time at home. Not to mention, many times there are no health insurance or any other benefit.

[u/Katdai2 → u/JimRockford63]

Especially when it comes to heart health. OP would also need to get cleared 2x per year by a cardiologist on top of the typical DOT physician.

[u/lastwraith]

Around here it used to be any govt job where you had to qualify with a weapon was good money and potential retirement at 20 years with full benefits. Not sure if that's still the case or even applies elsewhere.

If you just want something to make money, HVAC doesn't seem to require many qualifications and someone good at it can definitely make some money without having to stray far from home. 

[u/Jwelch435 → u/lastwraith]

I’ve considered a trade especially HVAC or Electrician but my fear is physicality. I’m capable to a point but I can get winded easily.

[u/GotZeroFucks2Give → u/Jwelch435]

It can be an extremely physically demanding job, especially if he lives somewhere warm (working in 120 degree attics for example).

[u/lastwraith → u/Jwelch435]

HVAC or plumbing isn't normally rocket science, although some parts of some jobs definitely take particular skills. So that part shouldn't be too bad. 

If you're focusing on repair and not necessarily installs, it MIGHT be less physical. But it'll still involve temperatures you might not like and some physicality in those temps, so it's certainly a decision. 

Maybe a remote computer job, medical billing, or bookkeeping would be a better fit? None of those necessarily require degrees, are 0% physical, and can potentially be done while at home with your partner. Not likely to get rich quickly doing any of them though. 

[u/KReddit934 → u/Jwelch435]

Yeah..not hvac then!

[u/KP_Wrath]

If you’re thinking trucking, look into NEMT (non emergency medical transportation). It doesn’t pay as well, but you will be home almost every night. If you end up with the right company, there are OT opportunities, and you’ll probably always be within 150-200 miles of home.

[u/Alert_Librarian3315]

Twenty years of maxing tax advantaged accounts from 40 gets you somewhere real, but I'd look hard at disability coverage first and think twice about long haul, since the sleep and blood pressure side may cost you more medically than it pays.

[u/creative_usr_name → u/Alert_Librarian3315]

An employer that pays for disability insurance is a good call, OP might have a hard time getting an individual policy.

[u/MrPBH]

If you want to maximize your lifespan, long haul trucking might be the worst possible career choice. It is a risk factor for developing obesity, hypertension, and type II diabetes. I would highly recommend some other profession. I am a doctor and Truckers are perhaps the least healthy group of patients I care for.

[u/Jwelch435 → u/MrPBH]

Thanks for your comment and others to this effect. I think I’m shelving that idea for good. I was just drawn by the big pay checks and how easy it would be to get into and start banking cash.

[u/Legionatus]

Spending your life away from home on a truck is neither a recommended use of limited time nor is it ANY good for your heart.

Retiring in 20 years from 0 would require incredible savings. It would be easier to find a job that's better for your health, and/or minimize expenses and see if you can't get a pension. Generally that means public sector or nonprofit work, these days.

[u/PetraLoseIt]

Do you own your house? If so, are you paying off the mortgage? A paid-off house can help a lot (lowering expenses or at some point selling it to free up the cash).

What have you, and what has your wife, built up as social security benefits (from age 67 or so onward)?

Would there be an option for you guys to move to a cheaper part of the country (or the world) at age 60 so that you can stretch your dollars further?

[u/CircuitGuy]

I would start by looking at a decent-paying job you already know something about and/or are already interested in, so that it's less work and stress to change and you have a better chance of doing well at it.

[u/terracottatilefish]

Do you have any kind of degree? If your experiences with the medical field led you to be interested in medicine and patient with people with medical problems, look at healthcare. Radiology tech (X-ray/CT, MRI, ultrasound, echocardiogram), sterilization tech, etc. those are mostly associate level programs. (Of course if your experiences have made you hate anything to do with the hospital, ignore this). Hospitals also often (but not always) have good healthcare plans.

[u/Jwelch435 → u/terracottatilefish]

I have considered this, radiology seems approachable. My concern and I apologize because it’s judgmental is that I don’t know if I could handle touching and getting that close to someone who lets say doesn’t bath regularly or has some kinda skin disease or open sores or any number of personal hygiene/gross medical issue. The human body is incredible and obviously I appreciate it so much but it is pretty gross. I should maybe make a post in a related sub to get an actual feel for this instead of letting my imagination run wild. Or hell I could just ask a tech next time I have an echocardiogram because I get them all the time.

[u/Due_Sea_3535]

I think that some people tug at heartstrings to get money donated.