Many women are choosing to retire at an earlier age. This is particularly interesting as in many countries efforts continue to be made to raise the retirement age for women to be consistent with that for men.
Today’s 50 and Wiser Woman Is Going for More
As this shift is being made, another shift is taking place. Twenty or so years ago, the majority of women yearned to retire to be free of the commute to work, the stress of working for someone else, the office politics, and taking care of a home and children at the same time. They basically wanted to be free to stay home and do as they please.
That basic desire has not changed. However, rather than looking forward to total relaxation and doing â€œnothing, today’s 50 and Wiser woman is going for more. She is ready to GIVE more, DO more, and BE more.
In an article, Older Women Are the New Face of Entrepreneurship, two key points caught my interest:
- This is a cohort of educated, motivated, and very business savvy people who have seen many of their ambitions dashed by banging their heads on the corporate glass ceiling long enough. Instead, they have grasped the opportunity to become entrepreneurs, defying some of the more common stereotypes we see in the media about what an entrepreneur should look like.
- Interestingly, a significant number of these older female entrepreneurs are in the 55 and over age group. These women, along with men in the same age bracket, have been identified as "encore entrepreneurs", a term that refers to the fact they have left their previous careers to start a business at a later stage in their lives.
Women, including those approaching 50 years old are not looking to sit back and relax. They’re seeking second or third careers that give them a sense of purpose. Having a sense of purpose can lead to personal satisfaction because it helps you feel fulfilled and happier in life. Many are ready to carve a path for themselves to achieve their vision.
People who have a sense of purpose are also more passionate about what they’re doing. They tend to have a more positive outlook. Many Baby Boomers went into first careers and may have enjoyed it, and may have also had a measure of passion for what they did. For example, I’ve known many teachers whose intense desire was to inspire and motivate the next generation until they got burnt out. For others, their career did not necessarily feed their passion. It was a way to get started and satisfy economic needs.
Now that they’re older, they have more time and are better suited to go after what it is that interests them. Rather than leap into retirement, they’re leaping into business for themselves.
This change is leading them to find personal satisfaction and in many cases, a nice financial boost as well. Because of the ease of using the Internet to get started, women 50 and Wiser, often referred to as Baby Boomers, are creating their own second careers by going into business for themselves.
A significant number of these older female entrepreneurs are in the 55 and over age group. These women, along with men in the same age bracket, have been identified as “encore entrepreneurs”, a term that refers to the fact they have left their previous careers to start a business at a later stage in their lives.
Second Career Options that Provide a Sense of Purpose
These online businesses range from them continuing what they were doing in their first career or going an entirely different route. You may want to draw on the skills and knowledge that you have to create your second career. At the same time, you may choose to go in an entirely new direction.
- Some Baby Boomers decided to create e-commerce stores. These online stores can sell a multitude of items that you get from various sources, or you can specialize in one item that you produce yourself.
- If you’re passionate about helping people and you’re good with organization, you can become a Virtual Assistant. There are many online entrepreneurs who don’t have enough time in the day to handle tasks like customer service, and they’re willing to pay you to do it for them.
- Some ladies have always wanted to write. You can start an online business where you ghostwrite for other people. Or you can write content known as private label rights that you sell to many people.
- You can also write books, short stories, novellas or write for apps that look for fiction stories in bite-size increments. It doesn’t cost you anything upfront to write for a site like Amazon, either and anyone can self-publish.
- If you’re technologically savvy, you can create apps for smartphones. Or you can design websites. You can work as a remote technician helping people with computer glitches or virus cleanup.
- You can become a publicist or an online tutor for kids and adults.
- You can also become an affiliate marketer promoting products that other people create and earn commissions from recommending them.
- Maybe you have a deep love for the Bible and want to spend the majority of time teaching others about God’s Word. You could be like a missionary in your own area.
The possibilities are endless. Having a second career will help you go after something that you have long dreamed of doing. As a woman who’s over 50, I know and you know: you’re never too old to walk on the path to your dream. 🙂
Whether you’ve created a business you love, or you want to fall in love again with the business you created, you will receive lots in value in the Special Report “5 Common Reasons Businesses Fail and What To Do Instead.” Download your copy today.