Make a Career of Retirement

T0 THE YOUNG, retirement means clearing away a roadblock, says Leon Danco; to the old, it's equated with euthanasia.

Danco, who has worked with family businesses for more than 30 years, now feels he has found one solution for aging founders who refuse to let go: create and manage your own private foundation. You don't have to be a Ford or a Carnegie to do it, he insists. About 90 percent of the 30,000 or so independent grant-making institutions in the United States give away less than $100,000 apiece each year.

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