Three percent of women ages 65 and up are involved in early stage entrepreneurship, up from 2.3% in 2016, and outpacing business formation among the general population.With roughly 10,000 baby boomers turning 65 every day, an encore career as a business owner is a way for women to maintain their energy, interest and creativity rather than ease into retirement.
It's not a massive trend. The most recent Global Entrepreneurship Monitor, a sweeping study of entrepreneurs produced by Babson College, found in its recent 2017/18 United States Report thatare involved in early stage entrepreneurship — starting a business or running one that is less than 42 months old. That is up from 2.3% in 2016 and 2.7% in 2017. And it is outpacing the general population: Total entrepreneurial activity was 2.1% in 2017.
Shirley Yearwood, 65, is a case in point. She retired from a career at the IRS in 2016 and spent two years as the primary caregiver for her 97-year-old mother. With her mother now living in a nursing home, Yearwood yearned to do something more. Laid off from her job as an escrow assistant at a title insurance company in 2013, Linda Clay, then 63, couldn't find another job. So she became a business owner.Some women who start businesses in their mid-sixties and beyond are looking to get into a new line of work that doesn't come with the pressure of an earlier career, according to Babson's Kelley.
At 65 I better be having drinks with umbrellas at 8 a.m.
SamSanderson123 Love articles about how people don’t want to retire (because they can’t). 😂
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