Posted on 07/05/2006 6:45:00 AM PDT by Dark Skies
For the past 10 years, adults ages 55 to 64 have been the group most likely to start a new business, according to a study released in May by the Ewing Marion Kauffman Foundation, which promotes entrepreneurship.
And now that baby boomers are reaching retirement age, the trend is only going to grow. People are living longer and are more likely to pursue dream businesses rather than tend to their gardens when their workaday lives are done. About 80 percent of boomers claim they want to work in retirement, according to Sara Rix, senior policy adviser at the Public Policy Institute of AARP.
(Excerpt) Read more at money.cnn.com ...
Headline - "More retirees opting to launch startups"
First sentence - "For the past 10 years, adults ages 55 to 64 have been the group most likely to start a new business"
The new retirement age is 55? Kewl, where can I sign up to get my SS check at 55?
I retired about 7 years ago at 54. I "start up" every morning with a cup of coffee.
I don't get the "free" money from S.S. though.
Self-employment rocks! I started 2 small businesses out of beloved hobbies, and when my offspring's all grown up and on her own I can expand the way I'd like to. Talk about freedom!
I love this topic! :)
"The new retirement age is 55? Kewl, where can I sign up to get my SS check at 55?"
a. Don't plan on SS money for your retirement. If you get any, consider it gravy.
b. I'm on track to retire at 55. Dad did it at 53, Grandpa at 55. Our business will be ten years old then, and I'm sure some 55+ person who failed to plan will be looking for a business to buy to work another 10-15 years. ;)
c. You needed to start planning when you were 20 or so, but it can be done. If you're my age (45) start reducing your expenses and stash every spare dime into a tax-free retirement vehicle starting today. If you have college-bound kids, tell them they're on their own for footing the bill for their education. If you're married, stay married. Your mid-life crisis is going to cost you dearly in the long run even if your new girlfriend is a "hottie," LOL! Pay off your mortgage as quickly as you can. Develop one or more "streams of income" on top of your current job, again, starting today.
d. Pray that you keep your Good Health & Good Luck!
(If anyone wants book recommendations to help you get your financial act together, just ask!)
More time for Wal-Marting, gardening and grand babies - Not neccessarily in that order.
I get agitated every time I read or hear that baby boomers are living longer. Some do but not all. I actually don't believe half will make it to 70-75. They are trying to make us believe that we should make it to 80-85 years. The more people that believe that the easier it is for Congress to raise the minimum retirement age for SSA. Most people can receive full age retirement with SSA at age 66-68. That means that most people will receive 5-10 years of SSA before you die.
I'm tired of the disrespect that I am getting in the corporate world, being an older worker.
.....that blow up 35 seconds after liftoff.
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