Can we ever retire?

[Frank Cahill]

Wallace Scherer wrote:
> 
> Dear fellow piano technicians,
> 
> I saw the following note in a recent post from Dick Beaton, and don't know
> if I should react positively or negatively.
> 
> "I'm 82 yrs old now and don't usually do more than one tuning a day."
> 
> On the positive side, I'm glad that piano tuning is an occupation that a
> person with reasonably good health and hearing can continue well past the
> normal "retirement years".
> 
> On the negative side, I'm not sure if this is a clue that piano technicians
> geneally are not able to take a "normal retirement".
> 
> The 1997 PTG survey shows that 17.8% of members responding were over 65
> years of age. Of them, quite a few still put in 20, 30, and even 40+ hours
> per week at piano related activities.
> 
> Maybe the question should be, "Would we ever WANT to retire?" Is this an
> occupation that only gets more and more enjoyable the older we get, or is
> it simply one in which the majority of us can never earn enough money to
> afford a comfortable retirement?
> 
> One question that we might want to ask on a future survey:
> "What percent of your total household annual income is from your present
> piano related activities?"
> 
> Wally Scherer, Piano Technician, Norfolk, Virginia, USA
> Associate member of the PTG, Hampton Roads, Va. chapter
> mailto:WallyTS@iName.com
> Web page: http://www.geocities.com/Vienna/2411
> "Old piano tuners don't die - they just go beatless!"
> 
> 


Hi, Wally. How's things in my hometown?  

As you know, I worked in hi-tech before becoming a tuner. I still do
some contract work as a technical writer.  So, I have a good, good start
on a retirement nest egg.

My piano income might contribute about 25% to the family income at
best.  My writing work was about 1/3 of my total income (me alone).  My
wife works full time at a job with benefits.

The main reason I persist at this is so my 8 yr old daughter does not
need to go to day care after school.  

I still save some money...this year about $700 so far.(That's nothing
like I did as a high -tech employee.)  It will go into an SEP.  My wife
has money invested automatically from her pay check. 

So the thing to do, is decide where you want to be at age 65.  Seek the
advice of a finaincial advisor to see if the goal is realistic. Then
make the hard decisions.

My wife attended a financial planning course sponsored by her employer.
Apparently, we are in better shape than most. We have always lived below
our means...purchased cheaper homes and cars than we could afford...
never went on many expensive vacations. So it's paid off.

My feeling is that few tuners will have much of a retirement unless they
are very careful with the money.  Heck, on what I make now, I couldn't
even qualify to rent an apartment.  My biggest worry is medical care. 
True, medicare kicks in at age 65, but before then, you are on your own. 

Scary, huh?
-- 

Frank Cahill
Associate Member, Piano Technicians Guild
Northern Va