Fried Chicken and Retirement
During the summer my family is able to escape the heat of Raleigh and head to the mountains. My in-laws live in Marion, N.C., and we have a dock on Lake James. It is a beautiful place by itself, but one of my favorite times is after church on Sundays. We would stop by Kentucky Fried Chicken and head to the lake to have a picnic on the dock.
This morning, my wife was telling me how she heard that Colonel Sanders started what we know as KFC as a way to provide retirement income. The story is that he had bought a gas station and was also serving food from a few tables he had in the back. His chicken was so tasty that the then Governor of Kentucky named him the “Colonel of Kentucky.” People started traveling from all around to try his special chicken.
Business was great until a new interstate opened and caused his business to fail. Frustrated by the fact that he did not have enough money to retire, Colonel Sanders decided to franchise his signature chicken to small restaurants around the state. He was so successful that he was able to sell his franchises in 1964 for $2 million. At which point, he became the spokesman for Kentucky Fried Chicken with his trademark suit and goatee.
Today, many people face challenges as they prepare for retirement. Colonel Sanders is a great example of determination and how utilizing the skills you have can open doors to doing something you love to do. Colonel Sanders started his company with a $105 Social Security check and in 10 years turned it into $2 million.
What are you uniquely qualified to do in retirement? If your income is not what you need it to be, what will you do to make up the gap? Retirement does not have to be a time of winding down, but an opportunity to do what you love.
If you are struggling with what to do during retirement, attend our Retirement Horizons class and we will help you better understand how to create a plan that is more than just investments. Let the story of Colonel Sanders be a great reminder of what you can do when you set your mind to a task.