Question: I’m 64, retired, and want to invest $400,000 of my $2.4 million portfolio in a winery I’d co-own with a few partners. Am I crazy?
Answer: Many people look forward to retiring because it typically means a break from the daily grind of work. But there’s a downside to not working — having too much free time. If you’re starting to feel restless in retirement, you may be interested in starting a business — not necessarily for the money, but to have something meaningful to do with your time. And let’s be honest: Being a vintner sounds like a lot of fun.
If you’re 64 with $2.4 million, you may have enough money for a pretty comfortable lifestyle — especially if you have a nice Social Security check coming your way every month. But do you have enough to invest a good portion of your savings in a co-owned winery?
