Small Business Boomers

I was at a quilting class yesterday and the woman next to me was talking about working on a Master’s degree in administration online. She looked to be just a few years younger than me. Ok, I thought, why not? Then, in her next breath, she said she was going to “retire.” Now that’s interesting. She said she wanted to do something different and make more money in her “second career.”

Never before in history (prove me wrong, if you can) have so many people had so many career options so late in life (if you consider 45-62 old, which I don’t). Never before have there been so many people considering “encore” careers. The place I got my PhD in my 50s was full of people the same age as me. Talk about “non-traditional.”

I don’t plan to spend the next 30 years in a rocking chair, nor to I intend to out-live my retirement income, which could happen if I retire soon.

That’s why many baby boomers are looking at small businesses as “encore’ careers. This article from the Charlotte Observer discusses the phenomenon and raises the possibility that many boomers may consider work in non-profit organizations, where there are many jobs that need to be filled.

What do you think? Are you considering an “encore” career? Is that career a small business venture? What community service activities would you consider?

Photo: iStockphoto

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