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 left our very lucrative corporate jobs thirty years ago to start a welding and machine in northwest Colorado. In less than three years, we lost everything. I often tell the story of arriving in California similar to the Grapes of Wrath, but in a 1978 Chevy Blazer.
I know retirees who have put all of their savings and 401K’s into a franchise, for example, then work eighty hours a week to keep the business alive. That’s the last thing I want to promote.
I’m so pleased that I’ve connected to Stan Spector. He sells small businesses and over the years has learned a lot about what it takes to succeed. He has written the Baby Boomers’ Official Guide to Retirement Income. Not only does he address starting retirement businesses, but two-thirds of the book are real life examples of viable businesses.
This book will tell you the truth about starting a mini-business in your retirement years; the ups and the downs, the problems and the fun that you will encounter. It warns you about some of the novice mistakes people make.
People are reinventing retirement in wonderful ways. Starting a business can be an excellent choice. Getting the appropriate guidance is essential. Baby Boomers’ Official Guide to Retirement Income provides the needed guidance.