Retirement funds depleted by continuous business ventures in Yeoju

Kim Tae-hyeon and Bae Geum-ju are facing marital conflict and financial strain in Yeoju after Kim invested 120 million won of retirement funds into a smart farm and took out 3.7 billion won in loans for a solar power business. Despite the couple's attempts to secure a stable retirement, ongoing ventures including goat farming have left them struggling with high expenses and mounting debt.

A couple in their 70s who moved to the countryside to prepare for a stable retirement are facing financial burdens and marital conflict as they continue various businesses, including solar power, smart farms, and goat farming, according to the EBS program "Wealthy at 100." Kim Tae-hyeon (71) and Bae Geum-ju (70), who live in Yeoju, Gyeonggi Province, had been preparing for retirement after closing a restaurant they operated for 20 years. However, as Kim repeatedly started new businesses, issues regarding the couple's retirement funds and loans have escalated, while Bae desires to scale back the businesses and pursue a stable life. The broadcast will examine the couple's business status and seek ways to manage their retirement funds.

A 3.7 billion won solar power business started after closing the restaurant

After closing the restaurant they had operated for 20 years, Kim Tae-hyeon and Bae Geum-ju moved to Yeoju, Gyeonggi Province, to prepare for their later years. Kim began a solar power business by installing approximately 5,000 solar panels on forest land in his hometown inherited from his father. This decision followed an explanation from a salesperson that installing panels on idle forest land could generate 10 million won in monthly revenue with little effort, and that the 3.7 billion won installation cost could be fully covered by loans without any capital. Kim proceeded with the business despite his wife's opposition. Although Bae urged him not to take out such large loans, Kim moved forward with the business, staking the couple's retirement on it.

Contrary to expectations, the business did not proceed smoothly. Solar power generation fell short of expectations, and problems arose during the construction and operation processes. The business, which was expected to be a stable source of income, left behind massive loans and disputes. To save on management costs, Kim, who is over 70, personally cleans the more than 5,000 solar panels under the scorching sun. Bae feels frustrated, noting that it is a business her husband started himself. The broadcast will also cover the conflicting opinions of experts regarding whether to maintain or wind down this business.

120 million won of retirement funds invested while the wife was hospitalized

As the solar power business did not work out as expected, Kim turned his attention to a smart farm mushroom business. He was enticed by explanations that once the equipment is set up, mushrooms can be automatically cultivated just by placing them inside, providing stable income. While his wife was hospitalized for cancer surgery, Kim took 120 million won that Bae had prepared as retirement funds to install a smart farm house. Subsequently, the business hit a wall when allegations of fraud against the equipment contractor surfaced. The house, which required significant investment, has not found a proper use and has been left neglected next to the solar power plant, becoming another burden for the couple.

While searching for a way to utilize the house, Kim has now stepped forward to start snail farming. As he continues to launch businesses that worry his wife, Kim is also already raising 100 goats. The income from selling goat extract is approximately 1 million won per month, while feed costs alone amount to 700,000 won. To make a profit, the goats must be sold at the appropriate time, but Kim finds it difficult to sell them because he has grown fond of the goats he feeds and raises himself. Watching her husband take special care of the goats, Bae feels anxious over the business income, expenses, and her husband's choices. With snail farming now being mentioned following solar power, smart farms, and goats, the businesses operated by the couple have branched out into many directions.

Diagnosis: Prioritize cash flow over business expansion

"Wealthy at 100" will examine the Kim couple's business status and present solutions for their retirement finances. According to the program, experts agree that securing a stable cash flow should take priority over adding new businesses. However, opinions among experts differ on whether to maintain or wind down the solar power business, which still has 3.7 billion won in loans remaining. The broadcast looks into the fact that solar power generation did not meet expectations, the problems during construction and operation, and the situation where Kim personally cleans the solar panels to reduce management costs. It examines retirement asset management plans based on the profit projections the couple heard when starting the businesses, their current business situation, and the loan burden.

The program also diagnoses the smart farm house and goat farming in addition to the solar power. The smart farm house has not found a proper use after fraud allegations were raised against the equipment contractor, and the goat farming involves both monthly income and feed costs. Kim intends to use the neglected house for snail farming, and he shows hesitation regarding making a profit by selling the goats. Bae is worried about retirement funds continuing to flow into businesses and wants to reduce her work to enjoy a stable retirement. The broadcast seeks realistic fund management methods in light of the differing wishes of the couple and their current business operations.

Covering retirement life and marital business conflicts together

EBS "Wealthy at 100" is a program that examines the financial status and lives of the retired generation to find economic solutions. This broadcast covers the progression of Kim Tae-hyeon and Bae Geum-ju's businesses to their current state, as well as the costs invested in each business and the current income and expenditures. Following the solar power business, Kim has conducted smart farming and goat farming, and is planning snail farming using the house. Bae wishes for a stable retirement rather than expanding businesses. The difference in opinion between the couple is intertwined with not only the profit and loss of the businesses but also how to manage their retirement funds.

The broadcast captures the process of diagnosing the couple's disorganized business status and finding retirement fund management methods suited to the situation. While experts suggest a direction of securing stable cash flow rather than expanding into new businesses, opinions are divided on maintaining or liquidating the solar power business. The broadcast will cover whether Kim can stop his business challenges and prepare for the stable retirement his wife desires.

The episode "A husband with 'easily swayed ears' and business sickness: Retirement is in danger" of EBS "Wealthy at 100" will air on October 26 at 10:50 PM on EBS 1TV. The broadcast can be viewed again on the EBS website.

Read the original (Korean)