For many of the baby boomer generation now in their 50’s to 60’s and facing the prospects of retirement, some are pushing back against the traditional expectations of our society. And why not!
This is the generation who lived through the radical ideas of the 1960’s and rebelled against the commonly held views of how to live a quality and passionate life.
Some boomers see retirement as “flex time” where choices and direction are no longer fixed. If you wish to buy an RV and ride the roads across the country, stopping whenever the urge arises to pass some time or even get a job to accumulate needed cash, then do it.
There are retirees who still see and feel the passion of their work and commit to stay in the corporate game for years past the traditional retirement age of 65 but in the context of corporate life seek more flexibility and opportunities to teach, share and pursue areas of curiosity while transferring the tremendous intellectual wisdom gained over a lifetime of employment to younger staff.
I wonder if the corporate world can find a constructive way to harvest these often untapped passions and the wisdom of older workers.
Too often the corporate hierarchy seeks to find a way to discard these senior workers in favor of a younger audience who desperately need the business wisdom these senior players possess.
What a shortsighted strategy to dismiss these workers rather than capture and effectively utilize these loyal stewards for as long as possible.
And if the statistics are accurate there is a growing wave of people ages 44 to 71 years old representing roughly 100 million Americans who yearn for a creative solution to their retirement years. In fact, there is an estimated 40% of the 100 million who seek an encore career path to close out their final years of employment.
How does that encore career path look for a growing number of people?
A good number of these retirement bound people are assembling a known team of colleagues and buying an existing business they feel has growth potential. This approach is not for everyone but for many, starting a business or buying one with growth opportunities is a way to put a final stamp on a great career while driving income, ownership equity and family wealth for the future.
Yes business ownership has risk, but so does corporate employment in your 50’s and 60’s as so many senior workers are finding out.
For some people who lack the core business team and often large dollars necessary to buy an existing business or start one from scratch, they are finding their team of choice by buying a franchise.
Franchise ownership isn’t a fit for everyone but offers thousands of senior people in the final stages of a successful career a way to buy a business that has tangible market exposure, proven business systems and offers a business solution, product or service that will fit almost any person’s passion. With over 6000 franchises in more than 70 industries, there is a franchise opportunity to fit almost anyone.