It’s time to retire and to make all your dreams come true

IN the past a pension was something to live off in old age, but nowadays those who retire are often a lot more spritely than their ancestors and the idea of sitting in a rocking chair on the porch watching the world go by doesn’t appear too attractive! Rather, many of today’s pensioners want to do something in their retired years.
According to a survey from the UK, entrepreneurial older workers don’t see their future sipping soup, but starting off on a new life adventure.
The survey reveals that one in 10 of those set to retire in the next two years are considering starting a small business or going into consultancy. The reasoning behind this is that more than a third have had a lifelong dream to run their own business, while a quarter said they have always wanted to put money behind a favourite hobby and make it an income.
It sounds like a great idea in theory. I can totally see my mother-in-law being completely happy in her ‘retired years’ running a quaint little home-made bakery store, or my uncle repairing motorbikes in his very own garage.
Some experts say people who set up businesses later in life have a much greater chance of success as they have the benefit of experience and maybe some financial resources. But be warned that it is no easy feat!
With the excitement of the new idea it might be enticing to drop a big portion of your pension  / saved money into your new business venture. If the business goes to plan and does well then it’s money well spent. But remember that you’re taking a risk with money originally intended to provide you with a secure income later in life.