Word: cotton
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...would you like to get the Federal Government to invest with you in a hot new business in the global market? Say a company that manufactures cotton and coffee in Argentina? Or a company that manufactures vans for the local jitney service in South Africa? Or a soft-drink company in Russia? For every buck you put up, the government, in the form of something called the Overseas Private Investment Corporation (OPIC), puts up two bucks. Best of all, if the deal goes sour because of a crumbling economy, currency devaluation or some other unforeseen event, you won't have...
...launching a new career is knowing when to fold the old one. "Examine if you can really afford to do this, take an honest look at your skills and abilities and hook up with a good financial planner before you run out and do something too quickly," says Sam Cotton, 52, of Arroyo Grande, Calif., who retired in 1996 from his job at Pacific Bell. Cotton wanted to retire two years earlier than he finally did. "I looked at my financial options and realized that it would not be in my best interests," he says. In his two remaining years...
Another important preliminary condition for plunging into a new life is self-awareness. "Be honest with yourself," says Robert Wacker, a San Luis Obispo, Calif., financial planner who worked with Cotton. "Are you the kind of person who wants to travel to Europe after retiring, or would a trip to the lake to fish be enough...
...others may not be that sure. For them the answer is the same: better to decide than drift. "Even if you don't know exactly what you should do after retiring early, examine your strengths and desires and take it from there," says Arron. This is what Sam Cotton did. He enjoyed sales and marketing and always considered himself a "people person." When a friend offered him the chance to work for her mortgage-banking firm, Cotton had a good feeling about the career change, even though he had never considered the idea before...
...Know what kind of innate skills you have that are easily transferable to another profession," Cotton says. "For instance, I knew I could learn the mortgage-banking business. But enjoying working with people is something you just can't learn if it isn't there...