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               Terri Stallcop


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Entries in women entrepreneurs (1)

Saturday
Aug292009

Women Baby Boomers Are Becoming Wealthy Entrepreneurs

Women baby boomers are fast becoming the wealthy entrepreneurs of this decade.  As we approach 2010, you could be one of them.  I don't know yet about the gender breakdown but an AARP study by the RAND Corporation found that about one in three business owners age 51 to 60 made the transition to self-employment at or after age 50.

Here's another interesting finding - the US Dept. of Labor has reported recently that almost half the 7.4 million self employed business owners in America are baby boomers.  

Many Baby Boomer Women Start With An Online Business

I love this quote:

"Entrepreneurs create wealth by saving money earned through commercial enterprise. Governments dissipate wealth by spending money as fast as they get it. Sometimes, they spend it wisely on programs that have lasting value. More often, they waste it on war and politically popular causes that have no economic value at all."      Michael Masterson, Early To Rise

Why does that quote hit home with me?  Because my background is healthcare.  In a very, very short time in history, the coverage for my services as a critical care nurse shrank.  Suddenly, as a Cardiac Care Unit Manager, that once had all of the resources necessary to save lives every single day, found herself in a panic situation. 

Almost over night, things changed.  Without going into the details of the decline of healthcare services, let me just say that many clinically expert baby boomer women in positions of authority lost their influence to promote health and wellness at a time that critically ill patients needed us. 

So, what does that have to do with now?  PLENTY!  Now baby boomer women are in the drivers' seat.  When baby boomer women speak, people listen.  Why?    can we create wealth by saving money?  Does that sound like a silly question?  Who can save money these days?  Well, we can.  

But not if all we have is a job.  We have to earn money through our own commercial enterprise.  In other words, if you have a job right now, chances are, the job will never be the vehicle where you can earn enough money to save, and even if we could, it won't be enough to create wealth.  Entrepreneurs create wealth.  Hired people usually can't. 

But baby boomer women are catching on to the fact that a huge wave of wealth creators are on the rise.  And as I said, you can be one of them.  You might be a hirling now but no one can stop you from making more retired than hired -  that is, no one except you.  You can stop yourself from creating wealth before you even begin.  It's easy to give up your dreams when you're approaching 60 years old. 

Most people are approaching 60.  There are 79 million baby boomers living right now and about half of them are us - baby boomer women.  Although most people actually spend more money than they make, that is not the huge trend on the horizen.  The current state of most working women right now is that they are not running their own company. 

The fact is, as long as we work for someone else, they make a fortune, we make a living.  And retiring early with much of a nest egg is only for the very few.  So why not consider, as you approach 60 or 70 - why not consider starting your own business, an internet business. 

Women Baby Boomers Have Huge Advantages - Especially In Today's Economy

Don't miss my next post... Baby Boomer Web 2.0 Women!