Attention Baby Boomers – Starting Your Own Business

Baby Boomer

Are you a baby boomer wondering what to do in this next phase of your life? Are you wondering what to do with the extra time you have on your hands now that your children are grown, or you have retired? What’s your next “thing”? How can you keep “sharpening the saw,” as Steven Covey phrased it? You can take piano lessons or learn a new language, but here’s another idea; why not start your own business?

Here’s the advantage, as I see it, to having your own business. You are going to need to learn new things, you are going to need to learn to do things differently and you are going to be forced to keep up, to some extent, to what is happening with technology. You will be engaged and current.

I think one of our secret fears as boomers – yes I am a boomer – is that we will be bored or (gasp) worse yet boring! By starting your own business, you can lead this next phase of your life on your own terms. Having your own business gives you the flexibility to lead one full life. In today’s world, I strongly believe there is no work life and then a separate personal life; there is just life. Why not lead one full life?

I recently read the book The New Retirementality by Mitch Anthony. It’s about planning your life and living your dreams at any age you desire. What do you want to do? What is a “perfect day” for you? If you have a significant other, it would be wise to do this together. I’m not saying you have to do everything together, as time apart is also important!

Once you’ve figured out what a perfect day would look like, now it’s time to figure out how to pay for that lifestyle you desire. If you have a pension plan, lucky you; figuring out the money part won’t be as difficult. For the rest of us baby boomers, this is where having your own business can really pay off. It can generate a “playcheque,” and it will force you to continue to learn and grow as an individual so you don’t end up bored or boring! I’ve posted several blogs on starting your own business and the unique lifestyle of working from home. I hope they will inspire you to take action!

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