The rise of the old entrepreneurs
Posted 24 January 2008 at 11:30AM by Ian Betteridge in Doing business online
What will you do when you retire? My own retirement plan involves a sunny beach, a deck chair, and listening to a lot of cricket on the radio - but for many of the newly retired, the answer seems to be to start a business.
According to recent research, more and more over 50's are setting up their own businesses, either because they need the money or simply because they've retired and now got the time to devote to it. Thanks to our ever-lengthening life spans, someone retiring at 60 could have ten or twenty productive years ahead of them.
And, with mortgages paid off and sometimes a decent pension too, they tend to have less of the large financial commitments that often make starting a business look like a risky proposition.
Maybe my own retirement plans will have to change - the idea of starting a beach bar is getting more and more attractive...
Tags: bt, bt broadbandoffice, retirement
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Comments
2. At January 24, 2008 7:26 PM, Dark Djinn wrote:
This has to be a trick question Mr. Moderator. It's like asking kids, "What do you want to be when you grow up"? Usually, kids rarely get to "be" what they said they wanted to be. I think with the uncertainty of life and the fact that the Bank of England might lower the interest rates afterall, it is preeeeeeety difficult to answer that question now and actually end up doing it (except you're close to it like it's your birthday tomorrow). So, you ask - 'What will you do when you retire?', and the kid in me answers in retrospect,"...I don't know yet. I'll have to grow old and see".
3. At January 25, 2008 9:25 AM, Chris Cheshire wrote:
Retire at 60 - no way !!! 60 is the new 40 in my veiw just a shame the body parts don`t always agree.
Instead of retiring I increased my business which is excutive travel and diversfied into Motor Yaght Charter.
Purchased a £400,000 motor cruiser and extended the company to Jeeves of Hampshire Charters - check out the website jeevesofhampshirecharters.co.ukit keeps you poor and fit but is great for the soul
4. At January 25, 2008 11:32 AM, Stan wrote:
When I retire I intend to become an accute embarrassment ..................................................... to the pension fund!
5. At January 25, 2008 12:07 PM, Ken Cox wrote:
Hey why not have the best of both worlds. I have retired to the Sunny climes of the Philippines with the profits from selling my house in UK, Put a Business Manager in charge of my UK Publishing business. with £150,000 I am able to build 4 luxury Apts to house the Golfers I will bring in from around the World and also I have built a massive swimming pool and 50 seater Restuarant with a view of the pool and 50 metre beach. Its Glorious sunshine most days and the 18 hole Golf Course is just 25 mins away. Fancy a brochure then email me now and come and see for yourself. Retire at 50/60....rubbish I am 70 this year and after a 6 way( Yes six -way Heart bypass) in 2000 and a young wife I am raring to go another 20 years at least. Wow I wish I had thought of this at 40. I just visit uk twice a year and have Cheques sent care of the beach. Its Heaven!!!!
6. At January 28, 2008 10:57 AM, Carl Lotter wrote:
Mr Coxs' post makes me wonder why I do what I do when I could be in baskng sunshine. Im still in my twenties but and cant forsee myself getting past 50, lol. Well done to all that still have the energy and drive to continue at 60 and over!!!
7. At January 28, 2008 11:01 AM, anjanesh wrote:
inspiring comments on this thread.
Hats off to Ken !
8. At January 28, 2008 3:14 PM, Ade wrote:
Sounds like Ken is having the time of his life. Like Djinn said, it would be pretty hard to tell what retirement is going to be like, but I know dont want to be working because I NEED to make money to pay off bills and debts. I intend to be free to do whatever I want, without any obligations. If I choose to work, it would be for the love of it, and if I choose to travel, then I'll make sure I have all the money I need to support the lifestyle.
9. At January 28, 2008 9:50 PM, Michael Spence wrote:
well I started a people training company 20 years ago and who said retire at 60? Never! I went down road of Neuro Linguistic Programming(NLP) over ten years ago and now even busier offering certified training especially in Scotland.
So keep working all those approaching retirement. The job satisfaction and passion for what I do makes life so bright and enjoyable. We have what young folk don't have experience and integrity! Goes a long way.......and the benefit of nice holidays when school's in are great!
10. At January 29, 2008 9:01 AM, Marvin-Lee Aday wrote:
Better be carefull when creating new buisnesses, or google will just buy you up if they continue their trend!
11. At January 29, 2008 12:41 PM, Ian Betteridge wrote:
I'm going to tip my hat to Ken, too - sounds ideal!
12. At January 30, 2008 10:26 AM, anjanesh wrote:
I expected to see Mr.James Lyon at the top of this thread...
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1. At January 24, 2008 4:56 PM, Zen wrote: