An increasing number of women in the United States are starting businesses in retirement to supplement their income.
While precise statistics on this specific demographic are limited, the trend of retirees launching businesses is well-documented.
Many retirees, including women, turn to entrepreneurship as a way to stay active and engaged while generating extra income. Factors driving this trend include the need to manage mortgages, auto loans, and medical bills, as well as the desire to maintain an active lifestyle and engage in meaningful activities. Moreover, starting a business can provide significant financial benefits, such as potential tax deductions and the opportunity for a greater return on investment compared to traditional retirement savings options.
In terms of numbers, retirees are the fastest-growing group of entrepreneurs. For instance, seniors are more likely to be self-employed than any other age group, which highlights the popularity of this path among retirees. The decision to start a business often stems from a combination of financial necessity and the pursuit of personal interests or hobbies.
For women in retirement, common business ventures include consulting, tutoring, pet care, writing and editing, and creating online courses. These options typically require low startup costs and can be operated from home, making them accessible and appealing for retired individuals.
Starting a business in retirement is a doable option for many women seeking to supplement their income and stay active. You can do it – I can help!
