From The Minneapolis Star Tribune comes the inspiring and entertaining story of Rob Sheeley, a 55-year-old entrepreneur whose short-lived retirement gave birth to a $28 million business. As the story goes, Sheeley initially retired in 2002 following a big windfall he received after selling a teleconferencing business he started in 1987. Six months into that […]
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The Wall Street Journal is reporting that America’s baby boomers–those born between 1946 and 1964–face a problem that could weigh on the economy for years to come: The longer it takes for the economy to recover, the less money they’ll have to spend in retirement. Policy makers have long worried that Americans aren’t saving enough
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More Middle Boomers — those 52 to 58 years old — expect to work about five years beyond their planned retirement date, thanks to the recession, according to a new study of that segment of 29 million people, reports WalletPop. The “MetLife Study of Boomers in the Middle” showed 54% saying they were behind in
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Don Poffenroth paged through a magazine on a flight several years ago when an article grabbed his attention: Entrepreneurs could use 401(k) savings to start a business without getting hit by taxes and early-withdrawal penalties, according to a story in USA TODAY. He and a partner had drawn up plans for a gin, vodka and
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Prior to the economic downturn, Eric Diaz was managing a department that handled futures systems for Merrill Lynch in New York, reports Reuters. Today he’s a full-time pet groomer, riding around Hudson County, New Jersey in a tricked out Mercedes van replete with two 65-gallon water drums, a hydro tub and a host of shampoos,
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photo credit: Mr. T in DC Everyone is always excited when they obtain a 401k plan that often times they don’t review their plan to even see what it offers and what it doesn’t offer. This is important stuff here, you can’t just file it away under the good category without taking a look at
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Daily News: Contrary to the stereotype of 20-somethings starting Web-based businesses in their basements, it’s actually the baby boomers who best embody the entrepreneurial spirit. Over the past decade, the highest rate of entrepreneurial activity was among people between the ages of 55 and 64, according to a recent study by the Kauffman Foundation. Luckily,
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Entrepreneurialism: Not having enough money for a comfortable retirement tops the list of financial concerns among aging Americans, according to a recent Gallup Poll. It even outweighs peoples’ worries about having a serious illness or accident. With statistics showing that Americans can expect to live 20 or more years after reaching retirement age and our
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Stump, a floppy-eared, droopy-eyed Sussex spaniel was named The Westminster Kennel Club’s Best in Show – the oldest champ ever. What can we learn from Stump? 1. Retirement is for cats. 2. Old Age is not a reason to stop competing. Stump is 10 years old, that’s 70 in dog years. 3. Just because it’s
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Seattle PI: Kathy McAvoy-Rogalski keeps her year-old business operating on a short leash, and that’s a good thing. Operating a Fetch Pet Care franchise with her husband, James, out of their home has proven to be a rewarding second career for the early retiree. “It’s the one job where I can honestly say your clients
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