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In Hindsight
Wise money lessons I wish I could tell my younger self

Kim’s advice for starting a new business in retirement


Kim Potgieter

Kim Potgieter

January 31, 2024

Tersia and Theo’s passion and energy in turning Game View Lodge into a five-star accommodation venue really inspired me. Their optimism, zest for life and entire attitude to retirement is contagious!

Tersia and Theo used Theo’s pension savings to fund their new business, which paid off beautifully for them! They thoroughly researched their business idea, they did their homework, and their years of experience and living in the area gave them an added advantage. I would, however, under normal circumstances, not advise clients to tap into their pension funds for a new business – especially in retirement. Rather, use any surplus funds you may have and draw on your experience and wisdom. The reality is that if your business fails or something goes wrong, you could lose all your retirement savings.

Please be careful when entering retirement with dreams of starting something new. I have seen far too many clients who started restaurants and bought into franchises, investing heavily, only to find out it’s not all they thought it would be. Your second chapter should be fulfilling, but also carefully considered and thoroughly planned with your financial planner. It’s about finding a balance and moving forward with your heart – and your head – in alignment.

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