The author notes that he did not do this out of wanting to own a business. While I believe that, I also believe that many folks who start businesses do so out of the romantic idea of owning your own business. They may not love the business but they love the idea of owning the business. I think this generally happens with people who are nearing retirement and are looking for something to do when they are done with their 9-5.
It's almost ALWAYS a bad idea. One of the common reasons for their efforts is that they want to leave something behind...either in their name or a business that can be passed on to their children. Why burden YOURSELF with the hassles of a business in your retirement years let alone make your children feel like they have to take over when you can no longer work?
If there's one thing I'd like my parents to do in their retirement, it's nothing. Enjoy life. Relax. Travel. Play golf. Show me see how enjoyable my retirement years can be.
It's almost ALWAYS a bad idea. One of the common reasons for their efforts is that they want to leave something behind...either in their name or a business that can be passed on to their children. Why burden YOURSELF with the hassles of a business in your retirement years let alone make your children feel like they have to take over when you can no longer work?
If there's one thing I'd like my parents to do in their retirement, it's nothing. Enjoy life. Relax. Travel. Play golf. Show me see how enjoyable my retirement years can be.