NEVER TOO LATE!

In a recent article AARP wrote that nearly half of Americans 50 and over have $25,000 or less saved for retirement. Several factors come into play at this point: people over 50 are having a hard time finding  a job, and they cannot afford to retire. For many over 65, going back to work is a necessity.

I like to think that 65 is the new 55 and that many people over 65 have the ability to not only work but also to start a business. As a Certified Financial Planner I meet many people 60 and over who can’t find a job and are in serious financial straits. In many cases, it is no longer a case of just having to downgrade their lifestyle but food, clothing and medical needs are not fully met.

A new culture or attitude change has to occur as our nation ages. With the increase in the lifespan of our population people most likely will live an additional 20 to 25 years past the traditional retirement age of 65. It is time that we extend a helping hand to those over 60 and help them explore the option of having their own business to generate income. It doesn’t have to be an individually owned business; several people can get together and start a new business.

My experience has shown me that this age group is very diligent and has a great work ethic. The support they need is an education on basic business fundamentals, not a college degree, but a simplified educational system that is practical and can be implemented in a relatively short period of time.

Another frequently asked question is “What can I do?” Never having had to answer that question they need to learn how to take an internal look at their gifts, their hobbies as well as their strengths. This type of analysis usually helps identify a product or service that can be formed into a profitable business. It also helps build the needed self confidence that is required to start a new venture.

This problem needs an immediate solution. As a nation, we can no longer ignore this issue which, if not addressed, can cause serious economic damage to our country.

Within our BizQuack family we have had outreach programs for small business owners; we have offered immediately applicable education. These sessions have been held at public libraries, and then the attendees had the option of joining our small business community to receive ongoing support.

We have developed a free,  exploratory session showing how to determine the best business for you to start and how to make it work without a large investment. I want to roll this out slowly and to keep the sessions small in attendance so that everyone can ask questions and can fully participate.

Please refer interested people to me at nick@strategicduck.com or call me at 602-989-1592 for more information. BizQuack is a small business membership community that has a goal of providing support for all small business owners.

Stop doubting yourself.  Work hard and make it happen!