Boomers Turn to Entrepreneurship as New Retirement Strategy
There is one way to avoid outliving your money: Work longer, on your own terms.
You may not want to or be able to retire at 65 or 67, but so what. If you're doing work you enjoy in your own business, setting your own schedule, fulfilling goals you've set yourself -- it may not even feel like work. Pursuing their professional dreams while working for themselves has enabled many older self-employed workers to secure their financial future.
A recent survey by AARP found 10 percent of workers ages 45 to 74 plan to start a business and 15 percent workers in this age range are already self-employed. Some start a business due to a job loss, others had already retired but weren't ready to fully stop working. On average, self-employed workers in their 40s or 50s may spend nearly two decades working for themselves, the AARP study found.
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