Last year, Gallup released survey results showing people over 50 are the fastest growing group of new entrepreneurs in the country.
Many times, employees who have experience (and the higher salaries to go along with tenure) are the first ones to go when a company has to downsize. Those 50-something displaced workers find few options for employment. So, they start their own business as consultants or independent contractors.
Here’s a clip from a recent radio appearance on The Barry Moltz Show, AM560 “The Answer” in Chicago.
Barry asks “why a Time Travel Agent?” and if there are risks involved in starting a business after the age of 50.
When a Baby Boomer is lucky enough to get out on his or her own terms, they’re using their retirement money as start-up funds for a new business. And these new businesses will make the difference between retiring “comfortably” and retiring “in style.” Financial planners say just 3 additional years of income after retirement can improve your odds for financial security by as much as 55 percent.
So, whether you’re a Boomer who has become an entrepreneur out of necessity…or you’re doing it to check one more thing off your bucket list…your success at this stage in life can be enhanced by finding and following your True Passion and Mission in Life.
Listen to the entire show here. (Vernon’s slot comes up at 31 minutes into the program.)