Four boomers on why they chose second careers as entrepreneurs

MIDDLE-AGED MAN BLAH'G

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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