Get the most out of your Inc. online experience by registering and joining the Inc. community today. Get access to all Inc.com content and priority invites to free Inc. networking events in your area.

Login using:


Or login directly through Inc.com

Most Retirees Happy With Late-Life Ventures

 

Despite the risks to savings, retirees who launch a small business are happy in their new careers, though most are working harder than ever, a new survey shows.

Of more than 1,000 post-retirement business owners polled, 59 percent said they enjoyed their second career, while 68 percent said they were working harder than they expected, according to Information Strategies, a Ridgefield, N.J.-based consulting firm. The average age of respondents was 66 years old.

Nearly half started their post-retirement businesses with a spouse or live-in partner, and 64 percent said they expected to sell or pass on their venture within the next five years, the survey found.

Only 19 percent reported losing money from launching a business and were concerned about their long-term financial security.

"Starting a business after retirement required changes in the way respondents utilized their skills and managed the enterprise," Information Strategies CEO JoAnn Laing said in a statement.

- next -

Read more:

  • 6 Secrets to a Successful Start-up
  • How I Hire the World's Best Employees
  • What's for Dinner? Ask These 7 Start-ups

    • Sign-up for our Start-up Newsletter