Talking with the other members of our community, I am amazed by how many good ideas people have for businesses. Even more surprising is how few of these ideas ever become reality.
It’s not that older adults are lacking energy or drive.
Let’s start with some good news. If you have taken the time to identify your strengths and brainstorm business ideas, you’re already ahead of 90% of people who dream about starting a business. While others fantasize about financial security, you have taken action. By now, you should have a rough idea of the kinds of business opportunities that you are interested in. Now it’s time to refine your ideas so that they can form the basis of your profitable business.
In a previous article, I discussed how I came to start Eternal Collection, my costume jewellery company, based in the U.K. Looking back, it is amazing how the evolution of Eternal Collection was influenced by – and influenced – almost every aspect of my life. It has been an amazing journey!
Every year, thousands of people take that first brave step and set up their own business. These people are from all walks of life. Contrary to popular stereotypes, many first-time entrepreneurs are in their 50s and 60s.
It’s always heartening to hear stories of entrepreneurs starting from scratch and doing well. Though anyone who runs their own business will understand how much effort it takes to get a new venture off the ground. I hope that my own entrepreneurial story will encourage the other women in the Sixty and Me community to follow their passions.
What do you do when you want something more and different than you’re getting in your home country? For an increasing number of 60+ women, the answer is to move overseas.
According to the data we collected through our website, Best Places in the World to Retire, there can be a better life out there, if you are willing to uproot and reinvent yourself as an expat in Belize, Nicaragua or Panama.
Let’s start with a simple question. Are baby boomers ready for retirement? In a word, no. If we define “retirement” as an extended period of living off of our savings, baby boomers are most definitely not ready for retirement. In fact, according to a report by Charles Schwab, 43% of baby boomers have saved less than $25,000 for retirement. That’s not small change, but, it’s insignificant compared to the cost of living over 20-30 years.
In previous articles, I covered how to improve your crafting skills and how to decide which items to produce. If you have already followed this advice, you should already be well on your way to building a successful business. Now, I would like to take a look at another critical step in the process – deciding how and where to sell your handmade items online.
By now, you’ve probably already heard of Tim Ferriss, the author of the New York Times Best Seller “The Four Hour Workweek.” If so, you may have the impression that Tim Ferriss’ advice is mostly aimed at people in their 20s and 30s who want to quit their job and travel around the world.
Baby boomers have diverse opinions about what makes the “perfect retirement”. In fact, most of us aren’t planning on retiring at all, at least in a traditional sense. Instead, the majority of baby boomers say that they want to continue to work past retirement age, either in their existing job or by starting a new career. The rest are looking forward to taking a well-deserved break after decades in the workforce.
Most baby boomers dream of owning their home in retirement. Whether they plan on staying put or moving to a new country, they find the idea of owning their home “free and clear” extremely comforting.