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Retirement Gentlemen,
Good evening
Gentlemen,
Within 5 years I intend to retire with a modest benefit. That does not mean "quit working". I hope to have a small business operating or "if all else fails" a part time job.
What small business would you pursue under these circumstances, and why? I understand everyone has different skills and backgrounds, I'm just looking for a list of ideas gentlemen may have on this matter. Thanks!
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Replies to This Discussion
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Permalink Reply by Nick H on -
Women live longer than men therefore I'm guessing the male escort business must pick up in the retirement years.
But seriously, there is no safe small business to go into. I see how a list would help you, if you have a passion for something then do it. But do it for the hell of it and not for the financial security. Most start-ups fail. Furthermore, if my father's experience is the norm then starting a business means making no decent income for the first few years while you are trying to build it up. Hardly the way to go in retirement (unless "income" is not needed).
Beyond that, I'd aim for an industry that you are experienced in and try to get a consultant business going in that industry.
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