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Think You’re Too Old To Be Starting a Business?
Nonsense, it actually makes a lot of health sense. Before you convince yourself that it's time to cash in your savings on an albeit well-deserved lifestyle of rest and relaxation, consider the health benefits of staying in the game — but on your terms.
Research has shown that maintaining social relationships may be as important as avoiding health risks such as smoking, physical inactivity and high blood pressure. People who feel effective and useful tend to have better health, lower mortality and healthier lifestyles.
Start Your Own Business for Your Health's Sake
Whatever your business idea may be, you can choose to go at it full-time or part-time. People who have transitioned to retirement gradually have been found to get fewer major diseases and are able to function better day-to-day than those who have stopped working altogether.
The results of a recent six-year study that included men and women between the ages of 51 and 61 indicate that maintaining meaningful activity beyond the age of 58 is good for physical and mental health. Study participants who continued to work after retirement were 17% less likely to be diagnosed with one of eight diseases associated with aging: high blood pressure, diabetes, cancer, lung disease, heart disease, stroke, psychiatric problems, and arthritis. They also showed less decline in their ability to perform daily activities that healthy people take for granted, like dressing, eating, and bathing.
The Same Rules Apply to You and to the Younger Generation: Maintain a Healthy Work-Life Balance
With people living longer, starting your own business may provide a necessary supplement to your retirement income or even dramatically increase your wealth. In the process, you'll gain more freedom to "have fun" when you're not worrying about making ends meet. Easing financial concerns is a definite plus when considering the negative effects that stress can cause. Just make sure you don't go overboard. Find the balance between work and pleasure.
Perhaps your motivation to start your own business is to take back your personal time. A Canadian study found that in 2005, 17% of workers devoted at least 10 hours to their work day. That means time taken away from family and other enjoyable activities. Embrace the opportunities that self-employment brings: the opportunity to stay healthy longer, while finding time to enjoy life's pleasures.
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