WCOs and retirement may seem like an odd blog post but before you turn away, hear me out. Wildlife control operators (WCOs) need to be thinking about retirement because you won’t be young forever. Now that we are in tax season, let me ask you an important question, “Have you funded your IRA, SEP or other retirement investment vehicle?” Lots of WCOs get into business because they want to have the freedom of self-employment. Some feel they are making more money on their own than what they would if they were working for someone else.

But let’s consider that claim. Many professional jobs include monies for retirement. The company contributes some money and the employee contributes as well. Sometimes companies provide matching funding up to a certain amount or percentage. How many WCOs fund their retirement? They can’t rely on someone else, they have to fund it with the funds generated by their business. The key is that when new WCOs feel rich, they have to realize that they are not as rich as they may think. (Note I also have a blog post about how depreciation can devastate WCOs)

Let’s explain. Consider the worker for ABC company. Let’s say he is earning $20 an hour. Respectable but not a lot. However, when you look deeper, the worker is actually getting a lot more than that because his employer is paying 1/2 the social security, giving sick time, vacation time, health insurance and retirement funding. So in reality, the employee is actually earning $30.00 an hour when you consider all the benefits.

Let’s look at the WCO. He may be charging at a rate of $75.00 an hour. But consider that he has to pay for truck, gas, insurance, workman’s comp, licenses, his own sick time, health insurance, retirement. Consider as well that he won’t be getting a percentage match on retirement funding, whereas the hourly employee may get retirement matching funds up to 5%. Consider that for a moment, the worker gets a 100% return on their investment because the company matches whatever he/she puts in up to 5% of his/her salary. That is incredible.

I’m not trying to put self-employment down. I am just pointing out that self-employment is hard and too often WCOs don’t consider the long-term future. WCO is hard physically and mentally. What happens when you have to quit because your body just wears out?

Bottom Line

Start saving NOW for retirement. I know the topic of WCOs and retirement is not sexy or exciting. But trust me. If you don’t start saving now, you are effectively mortgaging your future with debt you won’t be able to repay.

Stephen M. Vantassel, CWCP, ACE, is the owner of Wildlife Control Consultant, LLC. He helps people restore their balance with nature through publishing, training, consulting, and the internet. He has published numerous articles in trade and academic publications available at {Stephen’s Academia.edu Page} along with several books {WCC Store}). Listen to his podcast “Living the Wild Life” at {Pest Geek Podcast}. Click the links for past {shows} and {interviews}. Please subscribe to {Stephen’s YouTube Channel} He is a sought after speaker and trainer. If you would like to have Stephen speak at your event or use his consultation services, send an e-mail to [email protected] Copyright All postings are the property of Stephen M. Vantassel and Wildlife Control Consultant, LLC. Text (not images) may be reprinted in non-profit publications provided that the author and website URL is included. If images wish to be used, explicit and written permission must be obtained from Wildlife Control Consultant, LLC.