Senior Lead Planner Patrick Sabol, CFP® Quoted by Financial Planning on Unusual Retirement Plans
Financial Planning featured Facet’s Patrick Sabol, CFP® to highlight how personalized advice empowers members to pursue unique life goals with total confidence.
Most of my retirement planning clients dream of downsizing and moving to a beach somewhere. So I was surprised recently when a couple I was working with shared that they’d rather leave the Miami area in an RV to begin a ‘hot shot’ hauling business.
Hot shot hauling means delivering loads directly from sellers to buyers, rather than moving freight through large cargo trucks and centralized hubs. Not your average retirement plan — but these two Navy vets on the verge of wrapping long careers (one with the state and one as an automotive technician) wanted nothing more than to sell their condo, use the proceeds to buy a truck and RV and travel North America full time while using the hot shot business for extra spending money.
We started out by settling budgets for an RV and truck that could handle all that hauling work. Then, we did the due diligence necessary to build them a financial plan that positions the hauling business as a bonus, not a necessity. I wanted to make sure they could balance running a small business while also being able to enjoy their retirement, not feeling like they have to work constantly. Down the road, the couple wants to sell the business and buy a small place back in Florida to enjoy a quieter half of their retirement.
The plan I’ve built ensures that can happen, no matter how long they’re on the road or how well the business performs. For now, they’re content hauling loads, seeing national parks and visiting old friends and family along the way!