Older entrepreneurs face special considerations

Q: Steve – I recently retired from 25 years in the aerospace industry and don’t like retirement as much as I thought I would, so I am thinking of starting a business. Might you have any tips for older Americans who are becoming entrepreneurs?

Margo, L.A.

A: Well, you are most certainly not alone. According to a story in USA TODAY, "research shows 5.6 million workers age 50 and older are now self-employed, a 23% jump from 1990. The numbers are expected to rise further as baby boomers seek more job security, Americans get older and cheaper technology drives down start-up costs."

This trend is not surprising, actually. As the Baby Boom generation ages, and as life expectancy increases, older Americans are finding that they have the time, energy, desire and, sometimes, need to start their own business.

Certainly, there are other reasons fueling this trend:

By Steve Strauss

Full Story: http://www.usatoday.com/money/smallbusiness/columnist/strauss/2006-03-20-older-entrepreneurs_x.htm?csp=34