By Mike Bodeen · 24 October 2022
When asked when will retire? I usually say, something like, “Oh, a few years.”
What do you want for your retirement? Common answers include traveling (cruises), recreation (golf), spending more time with family, especially grandchildren. Another way of saying it is that you want to spend what years you have remaining on earth, to do the things that make you most happy.
So, for my wife and I, most of our immediate family all live nearby, including my son (and biz partner) and daughter (and her mom) and our 5 grandchildren. Many friends, including our church family friends, are within minutes.
Yea Mike, but you’re still working! Good comeback, but let’s explore that.
I’m self-employed. Even though we work with the top producing company in Arizona (HomeSmart), we decide how to run our own business. I have no cubicle but no steady paycheck. Income is up and down soaring the heights and plummeting the depths. Some years we struggled to save enough chestnuts to get us through winter, especially living in the Truckee-Tahoe area of Northern California, almost 30 years ago.
My career is and always has been about people. I enjoy (most) people, even though I’ve been ripped off by attorneys, lied to by clients, yes, even friends, witnessed many marriages, and many more divorces, much sickness and yes, death. I have prayed a lot for these.
So what about retirement?
An event that happened 2 months ago defines retirement for me.
The Bodeen Design side of our business received a lead from a friend whose mother was losing her house in foreclosure in less than one week. She needed it sold – asap. She didn’t know any investors, but her daughter knew us. Jonathan, Sarah, Karen and I, met with the friend’s mom at her surprisingly nice home. She owed around $160,000 on the property and her mortgage payment was only $800 per month. And there was even more potential by fixing and flipping the home. As is, we offered her $300,000. She readily and happily agreed.
“If I was your son, I’d say, ‘mom, make the payment to the bank.’ “
Without further elongating this read, the owner had tried to make up her missed payments. The bank, a large national one, did not credit a large sum of money from her that would have gotten her all paid up. She used two attorneys (that’s another story), but still the problem would not be rectified – she was desperate! She had such a sour experience with the lender and attorneys, she trusted no one, and just wanted it sold. This was an investor’s salivating dream.
We reviewed her foreclosure paperwork that day. It was very clear to us that if she were to pay the stated amount on the official bank letter, which was under $10,000, that the foreclosure would go away. She did not want to do it. We asked if she was able to do it. She said that she would have to take out 401k money, but yes, she could do it.
We explained to her that if she sold this home, she would never again see an $800 mortgage payment. But the kicker was what Jonathan said to her, “If I was your son, I’d say, ‘mom, make the payment to the bank.”
She made the payment. Cured the foreclosure. Instead of a six-figure investment return, we didn’t make a dime for our time, however her daughter sent us a short text the next day, which simply read:
“My mom was so impressed with you guys and your honesty yesterday. I cannot express how grateful I am to you and your family!!”
To put a wrap on this, THIS is my retirement. THIS is what makes me most happy, and I am most blessed!