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Age is nothing but a number

3rd May 2017

The Duke of Edinburgh has decided that at the age of 95, it’s time to step down and retire. This begs to ask, has working until now been his success to his happiness and health?

Entrepreneurs are often seen to be young, tech savvy and determined to prove something to the world that they can make impactful changes but a generation has been overlooked from this start-up world. The baby boomers are approaching their retirement years and have to decide whether to continue to work or to leave that path behind them to enjoy their freedom.

For some, that decision has been made for them, with retirement being a necessity in some roles rather than an option and with this, some have been forced to look elsewhere for work as they believe that their pensions won’t cater to their lifestyle needs. Finding work isn’t easy at the best of times, especially for those who are more mature, so what are the options?  

Well, for some, it’s the best opportunity to start their own business.

This generation has grown through the incredible changes that the world has seen in such a short amount of time. They lived before the times of Google, they survived without the use of a mobile phone and social media and have the hard work mentality that Millennials have been accused of lacking.

Starting a business in your 60’s might seem a higher risk but weighing up the facts, it’s actually logical for the following reasons;

  1. More money to invest (potentially)
  2. You have built a network of contacts over the years you have worked that could be highly beneficial for your business idea
  3. You are more knowledgeable than your younger self. You can look at the risks with clearer eyes and determine what requires investment and energy and what doesn’t.
  4. You have time to nurture your project as opposed to juggling a full time job and trying to start-up
  5. It keeps you motivated and focused. It has been proven that if you continue to have goals later in life, you are more likely to stay healthier in both body and mind.

 

With many admitting that they enjoyed the independence of being self-employed, is it unsurprising that there are over 1.4 million self-employed 50-64 year olds and almost half a million over 65? And with the average life expectancy of 84, there are many more years ahead to pursue passions and ideas that perhaps weren't possible until now. 

 

If you have an idea, it's time to turn it into something more, because age, really is nothing but a number.

 

http://www.telegraph.co.uk/sponsored/finance/new-pension-rules/11670842/old-entrepreneurs-and-new-startups.html

 

 

http://www.ageuk.org.uk/work-and-learning/looking-for-work/the-rise-of-the-olderpreneur/

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