Entrepreneurship as a Guide to Retirement Income
As I’ve watched clients, family and friends face a new retirement landscape, I think starting a business is a viable option for many. It can provide extra retirement income, and who doesn’t need that in today’s world. It also can take a pastime to a new level, provide challenge, meaning and a way to stay connected. I do have a fear about advocating for entrepreneurship. My husband and I … [Read more...]
Travel as a Metaphor for Life in Retirement
I find travel an interesting metaphor for life. Since I’m the navigator in our travels, it makes sense I help others plan their life in retirement. My husband and I traveled to the Blue Ridge Mountain region of North Carolina recently. As a product of the west (Colorado, Texas, California), I’m always amazed by the beauty and GREEN of the east. Don’t get me wrong, I love the western U.S., … [Read more...]
Baby Boomers Increase Entrepreneurial Activity
We were very interested to learn that in the US today, baby-boomers prove to be more entrepreneurial than younger generations. Generally we believe that the risky economic behavior associated with starting your own business is the province of the young. Yet, over the past decade, the highest rate of entrepreneurial activity belongs to those from 55-64 years old. Factors that seem to encourage … [Read more...]
Women Businesses: Create Commerce Between Hearts
As women businesses (especially those in the healing arts), we often have difficulty making a connection – a business connection. We can connect with people actually quite easily. But for some reason, the ‘create commerce’ part of the connection eludes us. It seems foreign, uncomfortable, “salesy”, pushy, fake, coerced, and sometimes, down-right dirty. I recently came across a line in … [Read more...]
Retirement Business Adds to Retirement Income
Are you interested in starting a retirement business? What kind of business are you interested in having? Don’t know? Expert Stan Spector is passionate about helping retirement age baby boomers start businesses to help bridge the shortfall in retirement income. As a mergers and acquisitions specialist, he works with family owned businesses, so he has years of experience. In Mini Businesses … [Read more...]
Buying a Small Business at an Older Age
When buying a small business at an older age, it is very important to adequately access the risks. You probably to not have a lot of time to recover if it has a severe negative impact to your finances. 1) Make sure to be honest with yourself. Because you sold widgets for 20 years, and know a number of people in the widget industry, that does not mean you can profitably manage and grow a widget … [Read more...]
Help With Starting a Business: Cautions For Retirees
Ed. Note: Dr. Douglas Rice offers some thought provoking cautions for retirees who what help with starting a business. If you don't have money to lose but do have time to spare, then use that to your advantage and start a business that is labor intensive not capital intensive. That way the only thing you risk is your time. For example, opening a restaurant takes considerable capital, but … [Read more...]
For Retirees: Considerations Before Starting a Small Business
When it comes to starting a small business as a retiree, I would make these suggestions: 1. As a retiree you bring a wealth of knowledge with you even if you’re new to entrepreneurship. When looking at small business opportunities, you should consider the skills you have that are easily transferable into a new venture. For instance, if you like talking to people and interacting, perhaps a … [Read more...]
Advice Starting a Business For Retirees
By Pablo Solomon Here are some bits of advice starting a business for retirees, observations and input from those wiser than I. Over the years my wife Beverly and I have started several successful businesses and now run our successful art & design business north of Austin. 1. Know the true value of things. Remember that it is not the money, it's the lifestyle. 2. Do not blow a life … [Read more...]
Starting a Retirement Business Questions and Answers
Brian Miller is president and chief operating officer of The Entrepreneur’s Source and agreed to offer his advice about starting a retirement business. Q1. How can retirees start a new business that’s a good fit for them? A1. You have to first determine what you want the business to do for you, based on your income, lifestyle, wealth and equity goals. Don’t start with what you think is … [Read more...]