How to set up a business before retirement

[Heartstrings]

It's good to lay down a plan for a better future before retirement. No one it's 100% sure of what the future holds. Reason why it is good to save up and the period of your working days,try to set up one or two business. You can be sacked from work but business is yours, what can only go wrong is if there is no much profit again when the economy is bad,or if you used your hands to reck down your own business.

You can easily set up a business by having a provision store or set up a supermarket.
You can also be importing some goods,it's really a good business to do. If you have been saving up for some years,set up a small business you can gather everything together and set up a boutique as your final bus stop of business, don't be surprised I have someone who did exactly same thing and doing very well now with no regrets.

 

[Shaf]

For most people, retirement means rest. That's why a lot of them plan for passive income methods. Some would also choose to run a business, like the original post said. This is usually something they wanted to do but had no time for before retiring.

If you have financial goals from the day you start working, you can easily save enough money to start a business without waiting for your gratuity. You also get to make mistakes, learn new tricks without worrying about your living expenses.

I do like real estate business because of how lucrative it is, but my choice would be to start a blog or trade stocks, forex or cryptocurrency. The returns can be used to fund my real estate business. I wish to retire early so I can have time to do what I want and actually travel before old age too. Having a business I can do from anywhere after retirement is my main priority.