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Boom or Bust?

A baby boomer's guide to avoiding the empty nest-egg syndrome.

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This story appears in the February 1996 issue of Entrepreneur. Subscribe »

Fred Petrillo worked hard at his business, an enterprise he and his brother inherited from their father, an Italian immigrant who came to the United States in 1910. They built their company from an obscure venture operating with horses and wagons to a $15 million trash collection business.

Like many entrepreneurs, they poured all their money back into the business, never saving for retirement or future financial needs. The sale of the business would take care of that . . . or so they thought. No one could have foreseen changes in rules and regulations that would drive them, after 40 years of building their business, into bankruptcy and ruin.

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