Is pension money enough to start a business?

[Suba]

Of the many retirees I know, they generally have prepared themselves to open a business a year before their retirement arrives, some are opening agricultural businesses, grocery stores, coffee shops and others, so that when their retirement comes they just need to adding their working capital from the severance pay they received.

 

[Hassan14]

When people leave the job and take pension then they have enough money to invest in a business to earn passive monthly income. May be I am not right,if I am thinking so.
Tell me according to your knowledge or experience that is pension money enough to start a successful business?

Absolutely pension amount is enough to start a good business. Because the pension amount is very high, we can start a good business. And there is something that search the amount received from pension in real estate, it is very good business. Because this business has belonged to every human being in the world and they have earned a lot of money from it.

 

[Seun4luv]

Yes pension money is good enough to start a business. In my country, being paid your pension money is enough to start a good business with and to live healthy for the rest of your life. Some are paid in millions to start with.

 

[Maliha]

Yes it could be enough because it is always a huge amount of miney so if u have your savings plus your pension so you could start a business even if you want to start with low budget.atleast ot could help you to start

 

[Aniwhyte]

I would strictly advise you not to wait until retirement before starting a business with the hope of using your pension money of starting a business as many pension payments are delayed. Back to your question if pension money is enough to start a business, well I would say it depends on the kind of business you intends going into and it also depends on how much you would be receiving for your pension.

 

[Alexandoy]

In our country the pension is the monthly allowance for subsistence that is given by the government agency or by a private corporation. Some companies give the so called lump sum but it is not a pension anymore. Anyway, if the pension is extra money to the pensioner then he can use that to invest in business but more likely a small scale business only. Some pensioners here sell food stuff because that is the easiest business to earn and that it needs only a small capital.

 

[Donkiz]

This depends on the amount that the pensioner received as his/her pension money as well as the required capital to for the business he/she wants to invest in. So if the pension money is up to the capital needed to start the chosen business, then we can say the pension money the pensioner received is enough for him to start his business, if not then we can state otherwise.

 

[chicnthin]

Depending on how much your pension would be. But still, I would say yes, pension money can start a business, particularly the lump sum. However, if you are only relying on that money, there's a great chance that if you fail, (hopefully not), you would have no money left in your retirement.

 

[Adeyoola7]

Yes you can use your pension money to start business
As both SIPPs and SSAS can hold commercial property, you could put your pension funds towards buying your own business premises. If you don't have enough in your pension, the SIPP or SSAS can also borrow up to 50% of their values from a bank to go towards the purchase.

 

[Sincerem]

In some countries that pays higher pay rate for pensioners, and not my country. it is possible for the pensioners to start a profitable business with their pension earnings, and even build a reputable business too, if well planned.

 

[Abibatabosede]

It is true that pension money is enough to start a business if well managed but it is adviceable to have extra savings in order to have something to feed on before the pension is paid and keep them selves Worthy

Post automatically merged: Dec 29, 2020

It is true that pension money is enough to start a business if well managed but it is adviceable to have extra savings in order to have something to feed on before the pension is paid and keep them selves Worthy

 

[Gilead]

Any money is good enough capital to start businesses ..it only depends on the category of business one intends to venture into..work with your feasibility study and budget and one will find oneself in a business

 

[Grant]

Your pension depends on the amount of work you put in. You don't usually draw from your pension until after you're retired and out of work, usually well into your 60s. If you quit working now, your pension would likely be very minimal. And bear in mind, pensions are like monthly payments to you get from past work history, plus it is given to you side by side with retirement usually.

 

[WhiteHouse]

Yea it can but it still depends on the business you want to start, you need to take a gander at your monetary circumstance all things considered. In case you're 35, have no reserve funds plan, and $10,000 in your retirement account, you must make some extremely enormous changes to resign by age 50. Take a gander at practical venture returns (not the 10% forecasts that many promote for stocks), and plan for moderate returns. Be reasonable about what it will take to meet your exit from any 9 to 5 work objective. Any arrangement you make should be situated truly.

 

[Snobar Bilal]

Yes if the person you got the pension has good amount of pension money then he can start a business very easily from home or he can do it on commercial base.

 

[Zanekhan]

When people leave the job and take pension then they have enough money to invest in a business to earn passive monthly income. May be I am not right,if I am thinking so.
Tell me according to your knowledge or experience that is pension money enough to start a successful business?

Its all depends upon the business plan. What kind of business you want to start. It is better to make a feasibility plan before investing money in it. It will clear your vision that how much amount you required to start your business.

 

[Ojonuyo]

I will say Yes and No!

Yes because if you are a discipline person you can accumulate your pension no matter how little it is bit by bit untill you have attained a threshold to start up your business.

No, on the other hand because, they are some retired workers who are not discipline about saving, hence, as their pension comes to them monthly, they spend it to acquire unnecessary things forgetting the future is important.

And the amount of money one is able to safe within six month is dependent on the amount of allocated pensions and the management adminstrative of your previous job.

 

[Kaindio Agnes Wanja]

When people leave the job and take pension then they have enough money to invest in a business to earn passive monthly income. May be I am not right,if I am thinking so.
Tell me according to your knowledge or experience that is pension money enough to start a successful business?

Yes,pension money is enough to start a business but now it will depend with the kind of business you want to start.
Though it is always advisable to start a business before retiring and use the pension to grow and expand your business by adding stock.

 

[Tayyabah]

When people leave the job and take pension then they have enough money to invest in a business to earn passive monthly income. May be I am not right,if I am thinking so.
Tell me according to your knowledge or experience that is pension money enough to start a successful business?

It depends on the amount given in pension and pension depends upon the scale or position of rank.
Well,my father start the business of farming from small investment now run on large scale.
I think a person who have their own levels and investment and business mind,then no dought he or.sheI can start buisniss and get success

 

[Damismiling]

Is pension money enough to start a business, absolutely yes, no matter how small it may be, it can still be used to start a small business, just start with that little token you, but make sure you make proper research on that business first before you venture into it