More seniors turning to entrepreneurship

More seniors turning to entrepreneurship

Posted: Wednesday, February 22, 2012 8:00 pm

MEMPHIS (AP) — The concept of retirement seems to be changing as baby boomers begin to reach their 60s.
Factors including an uncertain economy and longevity of life are pushing more seniors into the role of entrepreneur, according to the Memphis Daily News (http://bit.ly/zKkx1i).
Steve Stewart, who is 60, founded Senior Quest to help families find the resources they need to live successfully in retirement. He said running his own company is a way to stay productive, active and have a “real significance.”
He said many seniors don’t want to work for Fortune 500 companies, but they don’t want entry-level positions either.
“I think they want to take their expertise and their ability and turn it into something that makes a little money and makes a difference,” he said.
Stewart opted to leave a career in the ministry to begin his business four years ago and doesn’t show any signs of slowing down.
“With the ministry experience, I’ve got a very fond inclination toward family and toward people, but also a real heart for our city and seeing the challenges of poverty and all the things that we deal with in Memphis,” he said.
Another local business owner, 64-year-old Briscoe Ellett Jr., moved to Memphis last year after retiring to be closer to his son.
Ellett, who wasn’t ready to draw benefits and enjoys repairing things, now owns Briscoes’ Handyman Service.
“I’ve always enjoyed building creative,” he said. “I’m a manual person and like doing things. . I like repairing things. I can’t stand something that doesn’t work.”
His background in electrical engineering and his work with Habitat for Humanity have been assets with the hands-on part of the business. His son, Briscoe Ellett III has helped him in other areas, such as designing a website. Meanwhile, former Canadian Football League coach Mike Working has owned a restaurant for the past four years with his son and daughter-in-law.
As more people get closer to retirement age, they are looking to use their experiences in a way that benefits their communities. Published in The Messenger 2.22.12

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