Roofing guys, how are you handling retirement and savings with all the liability BS?

I've been roofing for over 15 years, mostly doing asphalt shingle replacements and the occasional metal roof tear-off on those old ranch houses. Been in the Chicago area my whole career, dealing with windy storms that tear up everything every spring. Set up an S-corp a few years back to handle the business side, and now I'm looking at retirement options like a SEP-IRA since I'm self-employed and don't have a 401k from some big company. Liability insurance is killing me though, especially after that one hail claim last summer where the homeowner tried to pin extra damage on us. Anyone using something like Vanguard for low-fee index funds to build that nest egg? Saw a thread on r/Roofing about this, mixed advice, and a guy in Roofing Contractors group mentioned maxing out contributions to avoid taxes eating you alive. TBH, with premiums up 20% this year, it's hard to save without feeling like you're one bad slip on a steep pitch away from broke.

goddamn liability premiums are through the roof, pun intended, and now retirement feels like a pipe dream when one lawsuit could wipe you out.

look into roth conversions for tax-free growth, especially if you're pulling steady income from shingle jobs. pairs well with the sep-ira op mentioned.

fuck these insurance companies jacking rates every year while we bust ass on ladders all day. PE vultures buying up roofing firms just to squeeze more out of us.

i feel you man, been scraping by on flat roofs in the burbs and retirement is just a word.

vanguard is solid, low fees on their target date funds. i put 15% of every completed roof into it automatically.

collective rage against these carriers, they denied my claim on a wind damage job citing 'poor installation' BS when it was manufacturer defect on owens corning shingles.

insurers are the real thieves here, hiking premiums 30% after i had zero claims for a decade. makes saving for retirement impossible without side gigs.

SEP-IRA is key for us solo roofers, max it out at 25% of net earnings. talked to a cpa who specializes in trades.

yeah, i get the frustration with balancing work and future, especially when every storm season eats into your buffer.

screw the system, these liability nightmares are why half the old timers i know are still slinging hammers at 60.

same boat, watching my savings stall because one dumb homeowner dispute could bankrupt you.

we're all in this crap together, premiums up and no end in sight for us field guys.

damn right, insurance lobby is screwing small roofing ops hardest while big corps laugh.

man, i commiserate, thought i was set til liability spiked and wiped my retirement contributions for a year.

felt that, especially after a close call on a steep metal install that could've ended my career early.

proud to say i finally got a financial advisor who gets the roofing grind, focused on liability protection first then savings.

ha, retirement? that's what we call quitting after the doc says no more roofs. laughed my ass off reading that.

funny how we joke about it but yeah, one wrong step and poof, no savings left after medical.

i hear ya, been there with the back pain from hauling bundles and wondering if i'll ever stop.

total commiseration, liability fears keep me up at night same as you.

these premium hikes are collective BS, forcing us roofers to choose between coverage and actually retiring.

frustrated as hell, just got hit with another rate increase right when i was ramping up savings for a 401k rollover.

yeah, i feel the pinch too, especially with family counting on that retirement fund.

insurers banding together to rob us blind, it's a racket against every roofer out there.

outrageous how they target us small crews with sky-high liability while dodging real accountability.

try a solo 401k if you're scaling up, allows higher contributions than sep and covers the self-employed roofing life.

what's your take on umbrella policies for extra liability buffer on top of the standard roofing insurance?

for retirement, automate transfers to a brokerage after every job closeout. i use fidelity, their robo-advisor is decent for trades.