I don't. I could retire today. I could have retired years and years ago. 

Fred, I've been very fortunate to have a solid group of agents who would help. I've only needed occasional help over the years and I feel confident that agents in my office would help. Also, one of my closest friends is an agent and I know she would help if needed.

Fred Griffin Florida Real Estate I retired at 62, not because I had a great savings plan, in fact I had NO savings but I had had enough of Real Estate. I figured I'd do fine on SS and a small income from being a Mobile Notary loan closer. Everything has worked out as planned. Now if I would loose that notary income it would be tight BUT I figure one or both of my kids can support me for my remaining years. Longevity doesn't run deep in my family. 

Yes Fred I have had a plan in place for the last 3 years and it's worked well.  This next year will probably be the last year I'll hold my brokers license.  All else is handled.  And then again.....I still may want to dabble a bit longer, who knows!

I created a back up plan when I fell on the ice in January, had two operations on my knee, and did not get back to the office until August. I worked the phone, referred many clients, negotiated contracts that were delivered by my wife who also was licensed and served as my assistant from our home office. I wore out the upholstey in the chair. I still had a good year financially and made the Platinum Club at RE/MAX ($250,000 ++).

Real estate is my wife's career, I make enough money to live on and so does she.  I am licensed to help her when needed.  We actually could retire tomorrow and be okay, but that's not the plan, but we're both okay financially to do so.  We spent the last 25 years planning and saving.

Yes, I always keep my options open.  Not sure there are any top options at this time.  I can always work at walmart as a greeter.  

Retiring and leaving the state of Mass Confusion (CA). 

My back-up plan? For decades, I worked day & night, weekends always available and looking for opportunities. I also learned to put money away, painful at times to go without too. In addition, I never let my expenses get a mind of their own. Lastly, I had no rich friends or relatives, no one to bail me out or come to my rescue. What becomes of a person who practices all of the above with no excuses, faithfully & consistently? THE RESULTS? I lived plan A & plan B. Now, I just live, enjoying the completed opportunities never forgetting and always grateful. May others find good fortune too. 

Actively cloning myself and training people. 

Yes, my friend and I have an agreement about showings or something that can be addressed via phone/email. I'm going to travel abroad soon for 2 weeks and she will be my backup for property showings. When she had covid, I did all her showings. 

As for retirement~ I would not do it yet unless I am forced to quit real estate for any unforeseen reason.  I do take sabbaticals often to travel. 

It's nice to have a team, ideally when they can operate without me.

I do have a great backup plans with several REALTORS ready, willing and able to help my clients if I am not able to do so.

No I wasn't planning on becoming sick but it just happens. I was a one man band & you just have to work it through.

Great question and one that I do not have a solid answer to....!  :(

Yes.

Hello Fred, I am lucky to have two close friends that I could refer clients to and get a referral fee.

I'm living my contingency plan. I am retired. 😊

Had I not been married, with a second income, I may have carried some kind of insurance that would have covered me in the event of not being able to work for an extended period of time.

I don't rely on my top-producer for my sustenance, it is a lovely cherry on top as I too top-produce and have been on my own and or with a semi retired agent  . . .

Staying healthy is PRIMARY having said that. 

Both my agents collect SS and one produces bigly, the other is retiring at year's end. I am waiting till the last minute to collect mine . . . I don't need it but I want the most I can get since I've paid in (and still do!)

I have a good second income stream . . . and instructions to my successors outline what becomes of my business if it ever came to complete incapacitation.

Reminds me of many a pro-team.  Like when Peyton Manning got injured or when Tony Romo did and Dak Prescott came in to cover for him... wait that one worked out well.

But to your question, that is the main reason I got my Broker's license.  In case something happened to my father (our Broker) I'd be able to step in verus having to either get someone to Broker for us or join a big name.

Beyond that, I'm in a good place that I don't worry if the real estate industry collapses overnight.

My wife and I started our backup play at the turn of the century when we bought our first investment property.  Planning for the future is essential for an enjoyable retirement.

Yes I have a back-up plan as I have an executive leadership and sales coaching practice currently in hiatus. Looking to activate that practice on a limited basis in 2024.