Most Retirees Happy With Late-Life Ventures

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May 17, 2007 by Rich Whittle | 6 Comments

Inc.:

Despite the risks to savings, retirees who launch a small business are happy in their new careers, though most are working harder than ever, a new survey shows.

Of more than 1,000 post-retirement business owners polled, 59 percent said they enjoyed their second career, while 68 percent said they were working harder than they expected, according to Information Strategies, a Ridgefield, N.J.-based consulting firm. The average age of respondents was 66 years old.

Nearly half started their post-retirement businesses with a spouse or live-in partner, and 64 percent said they expected to sell or pass on their venture within the next five years, the survey found.

Only 19 percent reported losing money from launching a business and were concerned about their long-term financial security.

Photo by MSDesign.

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Tags: Retirement, Strategy