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Is Midlife Entrepreneurship for You?Susan L. ReidDo you think that entrepreneurship is just for the young?However, if you are someone who . . .• likes to call the shots and live life on your own terms, • has a strong desire for autonomy and independence, • is a self-motivated starter, • knows how to evaluate and take calculated risks, • is highly self-motivated, . . . then midlife entrepreneurship could be right for you. What about you? Could midlife entrepreneurship be right for you? The Changing Face of RetirementRetirement, and how we view it, has changed dramatically since the beginning of the 20th century. Before pension plans became standard offerings to U.S. workers during World War II, most people continued working until their death, relying on personal savings and family support to sustain them. While 65 is considered the normal retirement age in the U.S., ma ny of today’s midlife entrepreneurs eschew that age, preferring instead to remain actively involved in their businesses well into their 80s. With Baby Boomers comprising nearly half the country’s self-employed workers (7.4 million), entrepreneurship among seniors is growing (so say reports from AARP and the U.S. Department of Labor). People turning 50 today still have lots of life ahead of them, and each year more than four million men and women join their ranks.![]() 10 Reasons for Becoming a Midlife Entrepreneur1. You’re healthy with many years ahead of you. 2. You want to stay involved and engaged. 3. You enjoy generating extra income. 4. You get to build a business around something you enjoy and are passionate about. 5. You have a full Rolodex and 20-30 years of experience to back you. 6. You want the independence and flexibility that comes from working for yourself. 7. You have confidence and experience, and know what you’re good at. 8. You may already have a pool of money saved to help finance your business. 9. You can do business from home, using the Internet as your storefront. 10. As an entrepreneur, you aren’t discriminated against because of your age. ![]() Like so many of them, you, too, might find that there are some very compelling reasons to either become or continue being an entrepreneur, well past midlife. Copyright ©2008 by Susan L. Reid, DMA WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this blurb with it: Copyright ©2008 by Susan L. Reid, DMA Dr. Susan L. Reid is a business coach and consultant for entrepreneurial women starting up businesses, and is the award-winning author of Discovering Your Inner Samurai: The Entrepreneurial Woman’s Journey to Business Success. If you are ready to take the first steps in owning your business, then get instant access to your own free PDF copy of “Doing What You Love: Multiple Streams of Passion” at http://www.SuccessfulSmallBizOwners.com |
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