Work and entrepreneurship in retirement

Monday - 9/24/2012, 12:06pm EDT

For Your Benefit

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September 17, 2012 - Join our hosts, Bob Leins and Tammy Flanagan, as they welcome Michael Creedon, DSW, into the studio. Michael is a gerontologist with over 30 years of experience in improving programs and services for the elderly. Today, he will look at Work and Entrepreneurship in Retirement.

For many people, retirement offers the first opportunity to "do your own thing". Many people look at that as an opportunity to work in a different field or start a small business. According to the Wall Street Journal, 50% of retirees have a part-time job, while 10% work full time.

Also 10% of retirees open a small business. These businesses may be franchises, consulting firms, or may grow out of hobbies. Before one starts a business venture, they should consider carefully the costs - financial and time-wise costs of start-up. Look at the failure rates of similar attempts at this business, and consider if the market can support another business like this.