Retirement isn’t the end
It seems to say the words ” retirement ” is to equate itself with of “being of no more value“
- I could make a snarky generalization and say that it comes from an over-eager, self-indulgent, up and coming generation who thinks they have all the answers and anyone older than 50 is outdated.
- I could say it comes from a youth-obsessed tech world which values high-energy and creative ignorance over focus, commitment, and expereince
- I could even say it comes from inexperienced leaders who struggle daily with having to manage people older and more experienced then they are with different work ethics
I could.. but that wouldn’t really fix anything.
Retirement or bust
Like everyone today, unless you are in the top 10% income bracket – you are struggling to get ahead and stay relevant after retirement. So when you find yourself in a place where, after having your “paid your dues” and you have put your time in, ready to enjoy a new role in life – you end up realizing that, the hoped-for stability is no longer a viable option. Don’t give up. There are a number of senior professionals and retirees out there struggling financially, which is prompting many to think outside the box. To consider launching the business that they have dreamed about on the back burner for so long. Do not think you are the only retiree out there starting a business.
There are a number of senior professionals and retirees out there struggling to find a new path, which is prompting many to think outside the box. Consider launching a part-time business that you have dreamed about, but placed on the back burner while putting children through school or being the “good” employee. Maybe it is time to take stock of your assets including yourself and see what you have to offer. Yes, I will admit that “being white, male, attractive-looking, and living in a place like Boston or San Francisco” does tend to be the recent trend of who gets funded. But that shouldn’t stop you. More and more I see opportunities for seniors to launch new ways to make money. Building on years of experience and observations, the key is how to harness what you know into a profitable path.
Much of my work with seniors include helping them to find a new path, to help them find a way to find a voice in business today. From becoming a consultant (in some cases back to the very places they retired from – but on new terms), to launching online and mobile administrative and service-oriented opportunities and more. In fact, the Storytelling Boot Camp started because I was approached to create a new way of learning for seniors who wanted to use social media more proficeintly that learning from “the grandchildren”. What I see happeneing now is retirees are rethinking a future for themseleves.
If you need some inspiration, here’s a few success stories to get you going.
Ray Kroc
One of the most famous stories of a successful retiree making it big is Raymond (Ray) Kroc. The man was over 50 and pursued the idea of making a business into a successful enterprise. He was not successful for some time, but he finally found success when he met the McDonald’s brothers. He partnered with them and helped the brothers turned their idea into one of the most successful franchises the world had ever seen.
Harland David Sanders
Colonel Harland David Sanders was above a certain age, and he was also interested in forming a successful business. At first, his dream centered around providing delicious food to patrons, but it did not take long before the idea turned into a franchise. His restaurant became what most people know as KFC, and it took the world by storm, cementing that it is never too late to start a business.
Yuval Zaliouk
Yuval Zaliouk is another person worth mentioning, especially if you are considering starting your own business. Zaliouk was a retired symphony conductor but saw that his wife was very interested in selling her cookies. The couple decided to invest into their cookie-making business, which they called Almondina. The company has done very well since it launched and is featured in major chains, such as Trader Joe’s. It definitely proves why taking a risk and investing in your concept might be the right move. Sure, getting enough capital might seem hard, but you can do something as easy as selling your life insurance policy to start your business.
Frankie Locallo
Frankie Locallo’s story tells you that you can do what you love, and it is not too late to start doing so, even though you are retired. Locallo was hungry to start a business and decided that whatever business she started needed to couple with her love for dogs. It was at this point that she thought of Puppy Love. At first, she was just providing puppies for children’s birthday parties so that the kids could play with them, but her business has grown beyond that. Adult parties, corporate parties, and many other types of events are falling in love with her little business.
These are just some of the businesses that were started by retired people. It goes to show that retirees starting a business later in life is not too strange. In fact, it can be thought of as common. Go forth, and believe in yourself and the idea you have tucked in your heart. It’s never too late!
Additional Resources
http://money.cnn.com/2014/10/09/retirement/retirement-income-gap/index.html
https://becolife.com/financialadvisor/
About Frank Strona
As a nationally known writer, educator, advisor, technology, coach, strategic engagement and content specialist, I have been active in the pursuit to improve, educate and promote opportunities that support the engaged learner and business while also preparing the workforce with the tools and skills necessary to stay competitive in a rapidly expanding technology-based world.