AmiSight 10/14: Why So Many Retirees Are Starting Businesses Instead of Slowing Down

After retiring, not all workers are putting their feet up and sipping margaritas. In fact, many are launching new ventures—turning decades of experience, savings, and ideas into entrepreneurship.

The Wall Street Journal reports that nearly 30% of employed individuals in their 70s are self-employed, almost double the percentage of those in their 60s, translating into about 1.3 million septuagenarian entrepreneurs.

While older entrepreneurs might have lost a bit of pep in their step, they can leverage years’ worth of contacts and experience to finally work on the project they have been dreaming about. Some are motivated by the desire to make life better for others; others are driven by necessity, turning to business ownership after struggling to find work elsewhere. 

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