How Baby Boomers Earn More In Retirement

Are you ready to change your view of retirement? We all grew up with the expectation that after you retire, life becomes quiet and we get out of the rat race for good. But what if you want more from your life than that? What if you want to stay relevant, young, active, and excited about new possibilities?

Retirement doesn’t have to be the same for us as it was for our parents. We’re redefining and creating our own lives by striking out on our own and joining a whole new community – entrepreneurs!

How You Can Redefine Retirement

Chances are we’ve been thinking about how we’ll spend our retirement years.

Maybe we’ve been in a job for 25 years and are facing the prospect of a layoff due to downsizing.

Or our pension isn’t going to stretch as far as we thought it would.

Members of the Baby Boomer Generation are realizing that there is a reasonable chance that we will live to be 90 or even 100, and I don’t know about you but I don’t want to spend the last 30 years of my life in endless meetings.

Most of us have had a satisfying career, but deep down feel it is time to move on and do something else. Today’s baby boomers see life after 50 as a new opportunity to start a business that we love.

Rather than leaving our careers for lives of leisure, golfing or touring the country in RVs, many Baby Boomers are choosing to start a new career – but not just any career. We’re applying our experience in management, finance, marketing and other business disciplines to businesses of our own that are personally fulfilling, exciting and fun.

According to a recent study by the AARP, 16.4 percent of the 5.6 million Baby Boomer workers aged 55 and older, were self-employed. What’s more, 1 out of 3 of us made the leap into self-employment after age 50, either as a transition to retirement or as a way to supplement our incomes while doing something interesting and fulfilling with the next few decades of our lives.

– via

This trend of retirees getting back to work only seems to be growing. The more people who leave the rat race, the more who realize they want more money, interest, and excitement in their daily life. And there’s no better way to earn more in retirement than having a business of your own!

Why Boomers Are Back To Work

Many older workers are using decades of experience and business connections to become their own bosses. These “encore entrepreneurs” bring to the effort a lifetime of knowledge. And their numbers are on the rise. in fact, from 1996 to 2012, Americans ages 55 to 64 had a higher rate of entrepreneurial activity than those ages 20 to 34.

In a new book The Economy of You, Kimberly Palmer writes about turning interests into a back-up plan to recession-proof your life. “In a world of zero job security and ever-increasing financial pressure, how can we guarantee success for ourselves and our families? The answer became increasingly obvious: We must actively create multiple ways of earning money through entrepreneurial pursuits.”

A retired teacher in her mid-60s turned her long-time hobby into a business, and now designs scarves and ties. A former police officer developed a website for retired law enforcement colleagues to advertise their services for everything from legal expertise to handyman work. And an inventor used his down-time to develop a successful new baby product.

– via AARP

Do you have a plan to expand your life and make extra income after you retire? Are you ready to own your own business and create the post-retirement life of your dreams?

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