Four boomers on why they chose second careers as entrepreneurs


Stacey Stein

Special to The Globe and Mail

As baby boomers in Canada leave the rat race, they’re increasingly shunning any notions of a retirement filled with blissfully commitment-free, leisurely days. Instead, many are trading in long-term vacation rentals, lazy mornings and general loafing for gruelling work days, mounds of paperwork and financial uncertainty as they jump into entrepreneurship in ever-growing numbers.

A recent TD Canada Trust survey found that 54 per cent of baby boomers have started or considered starting a small business prior to retirement. And 40 per cent of workers over 65 are self-employed, showing that pre-boomers have also taken to entrepreneurialism in impressive numbers, according to Industry Canada.

There are many reasons for this surge in “boomerpreneurs,” according to Marlena Pospiech, a retirement expert with Bank of Montreal’s wealth planning group in Toronto.

“One of the top reasons is the need for additional income,”…

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