As they approach retirement age, many baby boomers are considering alternatives to retirement.
A growing number of them plan to forgo golf, travel and other pursuits to continue working through what have long been considered the retirement years. According to a report by AARP, 80 percent of those born from 1946 to 1964 plan to work after retirement.
Some are taking this time of their lives to start a small business. In fact, AARP also reported that 40 percent of U.S. entrepreneurs are over 50.
For those thinking to take advantage of this trend, Paul and Sarah Edwards, self-employment lifestyle experts and authors of “The Best Home Businesses for People 50+,” offer some advice. “Starting a small business out of the home at any age can be very challenging but rewarding,” says Edwards. “However, Sarah and I have developed a few tips for our fellow boomers to keep in mind when embarking on this exciting new phase of their life.”
• Do it Your Way. A home- based career allows you to decide everything from how much time you want to dedicate to your business to where you want to be located.
• No More Office. Many experts believe that taking a business online is the easiest way to accomplish your goal of working while maintaining freedom. If your small business is located online, you have low overhead costs and can be found by customers around the globe without regard to where you are located.
• Have an Online Presence. Virtually every business can be helped with a presence on the Web. This is easier than it seems if you work with a reputable Web solutions partner.
For example, Network Solutions focuses on small businesses by offering products and services such as Do-It-For-Me Web sites (DIFM), easy-to-use templates and 24/7 customer consultants. Such services provide you with a Web partner that will enhance your business.
• Do What You Enjoy. “Becoming your own boss is an opportunity to do something you want to do,” says Sarah Edwards. “For example, you can spend as much time as you want on a hobby because you’re making money in the process, or helping other people or working with the kind of customers you choose to work with.”