Do you remember Star Trek II: The Wrath Of Khan (please say yes)? In the beginning of the movie, the young cadets are attempting a test called The Kobayashi Maru.
It’s a flight simulation exercise that is supposed to test the cadet’s character. The mission is to save a civilian vessel called…Kobayashi Maru…from the clutches of the evil Klingons (the enemy).
It’s in the Klingon Neutral Zone though and entering it causes an interstellar incident. The cadets have to decide whether to try a rescue mission or leave the civilians to die.
And therein lies the problem: If the cadet chooses to try a rescue mission, the simulation is designed to guarantee that their ship is destroyed and every crew member dies.
If they let the civilians die, they fail to complete their mission.
It’s a no-win scenario…
…just like a lot of business financial plans using conventional financial planning.
These “Kobayashi Maru financial plans” are designed for you to “show up and retire,” but without a key ingredient – the defined benefit plan – they don’t work. They CAN’T work as advertised. AND, Even if you plan to turn your business into a de facto retirement plan (so you don’t have to really retire), you STILL need a way to annuitize the income you get from it or guarantee its survival so you never run out of money.
This was (also) the job of a defined benefit plan.
But, defined benefit plans don’t really exist anymore. They’re a relic of the ’60s.
Good news: there’s a “Reverse Kobayashi Maru.” It’s a not-so-secret secret from the 1900s that guarantees your success. It insures your savings, and grows it at a guaranteed rate. It turbocharges other investment strategies you make (including investments in your business). It acts as a source of savings you can use to finance a startup or expand your existing business. And, it protects your family if you die before you sell or retire.
And…it works just fine…even in today’s economic climate.
All ya gotta do is dust it off and put it to work for ya.
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