Steve Lancashire bought a Mayflower moving franchise in Austin in 1995 and changed its name to American Relocation Systems. Then he hired his father, Ben, a retired CEO of Inland Container Corp., and put him in charge of payroll, accounting, taxes, insurance, and long-term financial strategy.
"I knew the moving business," says Lancashire the younger, a former Mayflower executive, "but I really needed his expertise on everything else."
Says Ben Lancashire: "The natural tendency, especially for someone with my corporate background, is to try to take charge. But I backed off and stuck to my part of it. Now I rarely challenge his decisions. He has some pretty darn good ideas."
Ben Lancashire is gradually stepping aside after almost 12 years of working for son Steve's moving company. "He's learned a lot about general management," says the elder Lancashire, who is 78. "I can play more of an occasional consulting role now."
Is it possible for someone who doesn't run a hedge fund or win the lottery to retire at 50 (or so)? Yes. (more) 
