I'm sure this gentleman would crush it at a Lowe's or Home Depot if he can stand and work with customers well.

😮😮Life can change in the blink of an eye. An accident caused my husband to be disabled at 45. It changed everything. So kids, plan ahead.

He would be a good Vocational Ag Teacher or train other people to be carpenters. It's hard to find a good carpenter so invest in making other people good at that skill to help those of us out here that are good at other things.

Question not asked: Will you have access to health insurance if you retire early? Medicare doesn't start until age 65. Sourcing your own health insurance can be expensive.

This guy could offer consultation services. A lot of people build their own home/shed and need someone experienced to look it over to make sure it passes code or for advice.

Health is crucial. 😩

Seriously, my husband is the same age and his shoulder and one knee is shot. He is non-union and if he had this option it would be wonderful. It's not that easy to say, "You can do so much." These men have literally exhausted themselves both physically and mentally. Many think it's not a mental job but it actually is. You have to get trained in something new which means going to college at 57-58 years of age.

Construction or permit inspector might be a good field to transition into, either starting your own business or working for the county or city.

Dude , leadership in the carpentry field, this guy has a ton of knowledge as long as he can lead and teach

This is one area I really disagree with Dave on. You do NOT have lots of time if you are roughly 60 years old! At best you have 20 more years of doing most anything you want and many will not even live that long, for most it is 10-15. Life is not about stacking as much cash as possible and working until you can brag about your net worth.. This guys should figure out how to set his expenses at 3,100 per month and then pick up a part time job if he has to and wants to and it should be something he loves. He should think about what is important to him outside of work and make sure to focus on that before it is too late. In addition this guy will get SSA which between his pension and SSA is more than enough to live on. Dave is NOT the guy to call about "Should I retire", but Dave IS the guy to call about how to get out of debt, stay out of debt and build wealth over time.

My second half started at 35 years old. I'm currently 37 and loving the decision I've made!!!

Good wisdom and discussion by Dave starting at 6:20. Reminds me of good old days when Dave was by himself doing rants, giving advice etc.

Why does this guy not get it ! Change careers like Dave said.

I like that idea of an “encore” job. Less stressful, but still meaningful

He can still be a carpenter. He can be a GM, or a PM. He can stay in the same kind of line of work.

Its GREAT be a carpenter I just had to get a double knee replacement and cant walk but those green backs were so worth it.

I’d take the money and do some odd jobs. 3100. is nothing to sneeze at.

I agree with Dave about the second half needing to be meaningful. I find myself being picky about a new job or career at age 54 because I want it to be significant. Not just for the money.

I know about this, my grandfather worked for Ford for 34 years but he is very healthy older man now. My father still works for Ford plant in Michigan now and will retire there, but he has had it rough on his body for ages now. They used to have to pull cramps out of his legs, exactly why I chose not to pursue that line of work since I know how mentally and physically draining it got. Pursued tech instead and got a degree in Computer Science.

He starts by saying how great his trades are but the entire call is how he has to retire early because his body is destroyed from the job and he is disabled.

With that much experience he could easily make more doing home inspections fora Realator or becoming a contractor, county inspector, moving up to Forman in the union, and so on, it will work out for him if he thinks about his experience

I kneeled and built everything as a construction worker. I loved the job. I quit due to poor working conditions and my health. I have enough work keeping my stuff clean and maintained.

No way. He is 58 and his body is shot from physical work. He can retire or take a part time job while living on his pension. He is ready. On average men only live until 75.

Carpenters are smart!!! And they should charge more! IMO

The trades can pay a lot of money, but this guy is an example of somebody who has not done very well. He made $60-65k in a job that destroyed his body by 58.

As mentioned below, If he 'retires' at age 58, How will he pay for Medical insurance, Dental insurance, his Union? ? 58 is a long way to Medicare! Plus a mortgage... He's got to get into another Company or a Bussines for the bennies. They must not remember middle class expenses. $3100/mo won't go far if you have poor health.

This is the thing about the trades; your body wears out and you have to plan on a second career.

Physical Therapist here. Every situation is different and should be individualized but to NEVER kneel or get on a ladder is spotty advice. This completely changes his life. So unfortunate to think this is his only path.

People call in from Ohio pretty frequently! Fellow Ohioan here who is proud 😁

What about a supervisory or desk job within the union structure?

I worked on my knees and climbed ladders for over twenty five year's. I love the work, but the body can't handle the abuse. I worked year round in the worst weather conditions. I built two houses and now work in a grocery store 🤣 best decision ever!

Almost all union pension have a disability clause to be able to get full pension

Kids, make sure that you begin paying yourself (investing) the moment you begin working your full time job. Live within your means. Learn that nobody is responsible for yourself but you( despite what nonsensical pipe dreams the Democrat party promises you)

Kids: Learn about compounding interest!

$3100 is more than enough if you have a paid off house and cars

Could he work at a high school or community college to teach skills?

Let that be a lesson my knees,.my back, my shoulder.

I always thought that most tradies move into the business management side of things in the second half of their career when their bodies start folding.

Dave, it’s LYMA, like a Lima bean.

basically this man has spent every dollar he has ever made. 58 years old 34k in savings that was given to him and house isn't paid for.

More success than mistakes before you know it.

I retired six years ago with $200K and no problems. I have a mortgage, car payment, and paying my son’s college. All my money is safe in the bank.

The drugs and the secretary in the red convertible sound pretty good!

Question not asked: At age 58, does he have any "dependents"? (Children)

$60k/year is good wage, where? 3k/month is only good if there isn't any inflation and you have no debt. Being a carpenter is great until you loose your knees at age 50.

Ramsey, I really like your programs.

Lots of time at 58?

Drive a school bus until you decide which direction that you want to pursue. Also you will meet a lot people with ideas . Sometimes the schools offer additional work to the bus drivers just to entice people to drive the buses.

Take the pension, get a part-time job at Lowes/Home Depot. If you need health insurance, look into Obama care.

I retired at 58. I still work additional jobs. I looked for jobs I can make my own schedule. Not work when I want time off to travel.

And this is why you pay off your house. 3K a month is nice if you dont have a morgtage.

he's perfect candidate for Passive-elastic knee-ankle exoskeleton . And train and help DIY folks virtually with via zoom or paltap .

65k working a lot of overtime is not what I would find appealing. Maybe if you're living in a cheaper country.

Time to start teaching the younger generations. Use your knowledge to teach them how to do the work.

I don't really think 90 percent of people have 1.9 million for retirement 🤔.

Healrh insurance! What are his options?

When you work the trades, there is a good chance that you will be messed up physically (typically, knees, back or shoulder issues) by the time you are getting in your 50's.

EJ has a high commissiin

Also you cant just wait to take your pension till later. You need current hours of service for it to count.

Should be an inspector for the building department

He said he got his son in law started in a business. Can't he go back and work with him?

The video title has nothing to do with the content. We have no idea how much this guy spends and cannot actually answer the question.

$65k a year is Really low for a union carpenter

How about building cabinets, you don’t have to install them , custom cabinets are in big demand

how is it that this guy has so many subs?

What about social security?

The answer, is to send more money to ukraine!

Found my sweet spot! 🙏🔥🎆

You can use 72t and retire early without any penalty

I’m not going to have a mortgage payment when I turn 50.

50 - 65 are the best years for income

Question not asked: does he have a spouse? Does she work?

Hmmm - 58 years old, making a max of $60k including overtime and needs both knees replaced.... I think maybe college would be a better way to go than a union trade. Some sort of desk job can pay a lot more and is much easier on your body.

It's disgusting how he cuts ppl off. The man is simply looking for advice and not far from his age

60k as a carpenter wtf? Im at a wearhouse chillin for that salary

i made a deal that my wife gives me a dollar every time she farts..... now im debt free! 🎉🎉

If he takes it now and still goes and makes some real money most of his SS will probably be taxed. He need to take that into consideration.

People over compensate. If your mortgage free, can certainly live on 2000 a month easy or less , and in any state

He can hang up his boots and enjoy life now. Live life, can be over in a second, and will be by 80, highly likely. People need to look at life. It ain't all about working

He was in a union, but making only 65k? If he wasn't in a union, I'll bett he would have been making a lot more.

It's time for Home Depot

Answer is no, he can't retire comfortably with a mortgage on 3k gross a month. He should retire from his line of work due to health reasons, but he should keep working doing something else.

Move to working in ways that don't continue degrading his health. He has doctor's orders. He isn't just going to accumulated retirement. He can apply for SSDI and disability pension from the company/union if he can't work as a carpenter at all. There are alternate jobs. But he may not like being the guy running the chop-saw (typically a low ranking carpenter) cutting 2X4/6/8 to ordered length as one guy feeds him wood and another takes cut pieces up to the guys swinging hammers. You can do that sitting on a stool if the cut station is set up right. A bit of self discipline to not go and tell others "stand back, I'll show you." and be back to climbing ladders and crouching on knees. He needs to be discussing what he CAN do with "wizer heads" that have already had to deal with this.

In many countries 58, 60 is the retirement age . Why is USA so stringent people keep working till 67😢

if need just food money, just drive uber, few ours a day, make 50 a day, he is good

lol Dave does not allow his cohosts to say volunteer or non profit. This woman hasn't learned that yet!

He beats up on college and touts the trades, yet hes 58 and broke - financially and physically.

Poor guy

Please remember this channel is as much for entertainment as information. My in-laws made the mistake of taking everything Dave R. has said over the years as gospel. This unnecessarily lowered their living standard while working and even more after retirement. My father-in-law had high paying jobs his entire life and due to DR's recommendations, he always felt poor and like he wasn't saving enough. They both lived into their mid-eighties and died with almost a million dollars just sitting in various accounts while they lived very frugally in retirement. Just sad.

Teach carpenters classes to youth?

Double knee replacement. Yet he stated that "a union trade is a great thing." Consider this young people. And do not ever go into this line of work in this day and age.

This is why you don’t want a mortgage at this age. He wouldn’t even have a dilemma if he didn’t have one. It boggles my mind when I see people I know in their mid 50’s overspend on a new house which includes a nice fat mortgage payment.

Be a truck driver

Cdl

Edward Jones will take a big chunk of that savings. He's already 58, just let him retire already.

Construction doesn't have to hurt your body if you work smart. Maybe he's overweight and never wore knee pads when kneeling.

401k won't be enough to retire . You need pension and 401k to retire. But private sector doesn't have pension that's the issue. Only about 10 percent of private sector still have pension. And 20 30 rears from now social security won't be in existence

Mortgage in late 50s. No thanks I realize we are not all fortunate enough to be debt/mortgage free before 50s. It should be a goal perhaps.

F-J-B!!

Teach a class