Taking Risks to Live Your Dream
As a former financial advisor, these example of living your dream are all laced with lots of risk. I think it is safe to say, without knowing the details of these folks finances, they are taking huge risks for their future. But read on and become inspired.
Suzie Ford was an out-of-work banker and her husband, Tom, was a career airline pilot who, in Suzie’s words, “never saw his family, but loved to brew beer at home.” Now they own a brewery in Charlotte.
Jan Morris was a part-time lawyer and part-time art teacher. Then she lost the lawyer part of her job. Now she and her husband, Chuck, own The Hardware Distillery Co. in Hoodsport, Wash.
Call it what you want: living your dream, encore careers or just gambling on your future. These Baby Boomers are doing what they love. And they used their retirement savings to do it, using a process called rollovers-as-business-startups (ROBS) to finance their businesses. With this approach, budding entrepreneurs can use their retirement funds to finance or grow a business without incurring taxes or penalties.
Randy Biehl spent 25 years as a U.S. probation and parole officer. Now he owns and runs his own winery in Upstate New York. Suzie Ford was an out-of-work banker and her husband, Tom, was a career airline pilot who, in Suzie’s words, “never saw his family, but loved […]
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