5 Reasons to Start a Business After You Retire

You’re retired. Now what? Here are five reasons to launch a start-up that will feed your passion and pad your pockets.

You’re retired. Now what? Whether it was a personal or persuaded decision you’re still not ready to call it quits, even if you have the money to do so. Well, you’re not alone. Since 1996 the number of new entrepreneurs age 55 to 64 has increased from 14.5 percent to 22.9 percent in 2010, according to the Kauffman Index of Entrepreneurial Activity. The increase speaks to a growing trend—Baby Boomers leaving corporate America to start a business doing something they love to do. Erin Botsford, founder and CEO of a financial planning firm, The Botsford Group, and author of The Big Retirement Risk: Running Out of Money Before You Run Out of Time, is an expert on the topic. She explains, whether you have the money to retire or not, “I think most start-ups are people giving themselves the opportunity to do what they love,” she says, “that’s what I chose to do.”

5 Reasons to Start a Business After You Retire