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More Boomers Are Becoming Their Own Bosses

Posted By Nancy A. LeaMond On February 10, 2014 @ 9:00 am In Where We Stand | Comments Disabled

Do you have a plan to recession-proof your life? A growing number of workers age 50-plus [1] do, and it involves turning interests, hobbies or skills into a small business.

iStock_000019397756Small [2]Many older workers [3] 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 [4], 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.”

The author shares inspiring stories of people who turned avocations into vocations. 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.

AARP has been connecting experienced workers to job resources [5] and entrepreneurial opportunities and education for quite some time.

Most recently, we’ve been collaborating with the U.S. Small Business Administration to bring counseling and educational resources to the 50-plus population through in-person workshops, online training and one-to-one mentoring.

During Encore Entrepreneur Mentor Month this April, AARP and SBA will host programs nationwide to help those who are considering starting or expanding a small business. We’ll cover things like writing a business plan, securing financing, marketing new ventures and more.  To learn more, visit the project’s Start a Business [6] page.

You can also view a series of free on-demand one-hour webinars on small business ownership here [7]. And AARP is pleased to sponsor Black Enterprise Small Business University; learn more on our AARP Black Community [8] page.

Cheers to encore entrepreneurs!

Photo: kupicoo/iStockphoto [9]

Article printed from AARP: http://blog.aarp.org

URL to article: http://blog.aarp.org/2014/02/10/more-boomers-are-becoming-their-own-bosses/

URLs in this post:

[1] workers age 50-plus: http://blog.aarp.org/2014/01/31/more-help-on-the-way-for-long-term-unemployed/?intcmp=AE-BLIL-BL

[2] Image: http://blog.aarp.org/wp-content/uploads/2014/02/iStock_000019397756Small.jpg

[3] older workers: http://blog.aarp.org/2014/02/06/older-job-seekers-have-little-patience-for-long-search/?intcmp=AE-BLIL-BL

[4] The Economy of You: http://www.bykimberlypalmer.com/the-economy-of-you/

[5] job resources: http://www.aarp.org/ws/jobs-small-business-resources.html?cmp=RDRCT-WRSC_FEB26_013

[6] Start a Business: http://www.aarp.org/work/self-employment/?cmp=RDRCT-STABS_JULY27_012

[7] here: https://event.on24.com/eventRegistration/EventLobbyServlet?target=registration.jsp&eventid=675319&sessionid=1&key=ADF4E956D7B5B1AE2AB5E6387D86C054&sourcepage=register&partnerref=MoneyWebinars?cmp=EDO-WRSC-TEST-2014

[8] AARP Black Community: http://www.aarp.org/relationships/family/black_community/

[9] kupicoo/iStockphoto: http://www.istockphoto.com/user_view.php?id=5074146

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