Don’t pick up your fishing pole yet. Just because you reach that golden number that signals retirement does not mean you should stop working. A recent story from USA Today reflects on the benefits that can be enjoyed by starting a business during those later years.
The future is always bright for entrepreneurs. People who really want flexibility, more control over their schedules and more balance in life, while making money at the same time, are prime candidates to become entrepreneurs. And the best thing about being an entrepreneur is that you don’t have to be of a certain race, gender or – as we’re seeing more and more – age.
Because our life expectancy has greatly increased and continues to rise, you will see more mature adults entering into their own businesses. According to the Census Bureau, by 2020 there will be more than 118 million people over 50. These are mostly baby boomers, and you can be sure we don’t plan to retire and sit back in our rocking chairs. Many folks in this group are already beginning new careers and launching new businesses.
So why bother to work your own business after reaching retirement age? The reasons are not hard to see: The rising cost of health care, higher property taxes and the overall cost of living, etc. These are just a few things that will keep some of us in the business world. However, for many, being an entrepreneur gives a sense of purpose in life. Entrepreneurs are creators of innovative ideas. They are constantly looking for ways to make life easier, cleaner, neater and cheaper for themselves and consumers.
As long as people have needs, entrepreneurs of all ages will be there to supply those needs.
Photo by Archibald Ballantine