When seniors go see financiers about making an investment in an idea they have for a business, they can face some hurdles. Their age is just one of them. Bankers may fear that boomers, who are retired, may be out of touch with today's global marketplace. They certainly have to consider whether or not the seniors will live long enough to pay back a loan. There are good reasons however, why baby boomer entrepreneurs are good risks.
Investing in boomers can be a very good idea. They have decades of experience under their belts and may be well suited to all kinds of new careers. Even if the senior is interested in branching into a new area, it is not difficult to apply the knowledge learned from previous enterprises to new ones. Boomers understand the value of hard work. Unlike the younger generation, these people remember life without computers and cell phones.
There are plenty of seniors who anticipated the day they were old enough to retire for years before it became a reality. Not all of them were expecting the boredom that can set in after the first few months when they have nowhere to go and nothing stimulating to do however. Getting back in the labor force begins to look better, as long as they can do something they love and in a way that suits them.
Boomers, who are thinking about starting a business, tend to be more realistic than younger entrepreneurs. They have seen other business owners come and go and have formed opinions about what works and what doesn't. Seniors are able to set short term goals and tend to be realistic about achieving them. Most have nest eggs, paid off mortgages, and grown children. They may not be as reliant on a paycheck as their young counterparts.
Money is important to boomers, and some of them are faced with not enough money to get them through the last part of life. For these people going back to work may be a necessity. Others are more concerned with the quality of their life and getting back the sense of accomplishment they felt before retirement.
Seniors have the advantage of being more single minded than younger workers. Their children have grown and are no longer the cause for time and attention away from the job. Many have gotten into the habit of going to bed and getting up early in order to get a fresh start on the day.
As an investor in a senior owned business, you want to feel assured your concerns are taken seriously. Boomers know all about budgeting, paying back loans with interest, business plans, and quarterly reviews. Many of them have been through it all before. You will have a partner who understands your bottom line and will appreciate your participation and interest in this new venture.
Starting a new business is not right for every senior. Many of them are happy to spend their retirement in the garden or traveling around the world. For a few however, this is a time to explore new business opportunities and see what comes of them.
Investing in boomers can be a very good idea. They have decades of experience under their belts and may be well suited to all kinds of new careers. Even if the senior is interested in branching into a new area, it is not difficult to apply the knowledge learned from previous enterprises to new ones. Boomers understand the value of hard work. Unlike the younger generation, these people remember life without computers and cell phones.
There are plenty of seniors who anticipated the day they were old enough to retire for years before it became a reality. Not all of them were expecting the boredom that can set in after the first few months when they have nowhere to go and nothing stimulating to do however. Getting back in the labor force begins to look better, as long as they can do something they love and in a way that suits them.
Boomers, who are thinking about starting a business, tend to be more realistic than younger entrepreneurs. They have seen other business owners come and go and have formed opinions about what works and what doesn't. Seniors are able to set short term goals and tend to be realistic about achieving them. Most have nest eggs, paid off mortgages, and grown children. They may not be as reliant on a paycheck as their young counterparts.
Money is important to boomers, and some of them are faced with not enough money to get them through the last part of life. For these people going back to work may be a necessity. Others are more concerned with the quality of their life and getting back the sense of accomplishment they felt before retirement.
Seniors have the advantage of being more single minded than younger workers. Their children have grown and are no longer the cause for time and attention away from the job. Many have gotten into the habit of going to bed and getting up early in order to get a fresh start on the day.
As an investor in a senior owned business, you want to feel assured your concerns are taken seriously. Boomers know all about budgeting, paying back loans with interest, business plans, and quarterly reviews. Many of them have been through it all before. You will have a partner who understands your bottom line and will appreciate your participation and interest in this new venture.
Starting a new business is not right for every senior. Many of them are happy to spend their retirement in the garden or traveling around the world. For a few however, this is a time to explore new business opportunities and see what comes of them.
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