At Safe Harbor Financial, many of our clients decide to go into business, to become entrepreneurs, after retiring from corporate life or at least after the last paycheck ends. This is one of several articles about entrepreneurship and what to consider when the end of a paycheck does not necessarily mean the end of your working life.
Rob Horken — owner of Rob’s Rod Repair and Custom-Built Fishing Rods — supplements his retirement income by building custom-made fishing rods. An avid lifelong fisherman in East Grand Forks, Minnesota, Rob’s rods are like individual works of art. They have become a popular choice in his local area as birthday, holiday and graduation gifts.1
Have you ever thought of starting up your own business venture? The perks can be pretty satisfying. Rather than constantly battle the corporate structure, there is no age discrimination when you are your own boss.
Since 2000, the baby-boom population has been gradually retiring, contributing to a steady increase in self-employment. In fact, so many 50-plus boomers have started their own businesses that the trend is called “olderpreneurs.”2
Interestingly, women comprise 40 percent of new entrepreneurs in the U.S. Some experts say that women older than 50 who launch their own businesses actually have more advantages than younger women. Once their children are grown, older women often are motivated to repurpose their time and energy into a new project.3
Whether launching a vegan food truck or an independent bookstore, many older workers are investing their passion, experience and money into a new venture designed to keep them busy and fulfilled throughout retirement years.
At Safe Harbor Financial Services, LLC, we delight in helping retirees and pre-retirees plan for their golden years. When you come in for your complimentary consultation, we listen to your future plans and ask the right questions so together we come up with sound financial planning for whatever your retirement dreams may be. Don’t delay. Call or email us today for your appointment with Jim Byrd and his team of elite producers. 251-625-1226.
Sources:
1 Brad Dokken. Brainerd Dispatch. May 27, 2018. “Northwest Minn. man finds retirement niche building custom fishing rods.” https://www.brainerddispatch.com/sports/outdoors/4452067-northwest-minn-man-finds-retirement-niche-building-custom-fishing-rods. Accessed June 18, 2018.
2 Lisa Bobulinski Bixler. Prime Women. Nov. 3, 2017. “Olderpreneurs: Blending Wisdom, Inspiration and Quality of Life.” https://primewomen.com/second-acts/career-transition/olderpreneurs/. Accessed July 5, 2018.
3 Kerry Hannon. Forbes. Oct. 5, 2017. “Why Women Entrepreneurs Over 50 Hold The Aces.” https://www.forbes.com/sites/nextavenue/2017/10/05/why-women-entrepreneurs-over-50-hold-the-aces/#578ac7561561. Accessed June 18, 2018.
Content prepared by Kara Stefan Communications for Safe Harbor Financial Services.
