Some Retirees Are Starting Businesses

Those of us edging closer to retirement may be in for some surprises. We may discover that  some of our friends and colleagues are thinking less about taking it easy in their later years and more about  using the time to start a business.

starting businessesA Bloomberg Personal Finance article, Older Americans Shun Retirement at 65 for Risky Startups, by Steve Matthews, describes how many boomers are opting to become entrepreneurs, turning their ideas into companies, and working hard to make their business grow. Quoting from a report by the Kauffman Foundation Matthews notes that, “People from 55 to 64 started 23.4 percent of the [new] companies in 2012.” The Kauffman Foundation offers support and information to people who are seeking become more independent by educational achievement and entrepreneurial activities. (Kauffman mission).

Most Interesting Information from the Article           

    • Today Americans 55 and older have much more confidence in their abilities to get started with a business than prior generations and other age groups..
    • Many people start business after moving to Florida to retire.
    • Quite a few of the people starting companies are doing so because they know that they may not be hired for other jobs because of their age.

Read the Bloomberg Finance article.

One thought on “Some Retirees Are Starting Businesses

  1. Interesting reasons/situations pushing retirees to start businesses. This is good because as long as they are physically and mentally able, I don’t see why they couldn’t continue doing big things like this. Having something to do and actually enjoying it would be very beneficial for the long-term care of retirees. Not to mention that they can always add to their retirement savings and really be able to live the retirement they imagined.


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