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Starting a Business in Retirement About 4.1 million Americans will turn 65 in 2024, signaling the start of what’s being called the “Peak 65” zone. By 2030, all baby boomers (people born between 1946 and 1964) will have turned 65, a common age for retiring. While many people view retirement as a goal to be achieved, not everyone is ready to stop working when they turn 65. Surveys show that many seniors are worried about having enough money saved to see them through retirement. A recent AARP survey revealed that 33% of respondents reported not having enough money saved for retirement, while another 31% are not sure if they’ll have enough. Other people simply don’t want to stop working when they turn 65 because they enjoy the benefits work offers, including income, a sense of purpose, and camaraderie. One option for retirees with financial concerns and retired people who just aren’t ready to stop working entirely is to start a business. Retired people, with expertise and knowledge that comes with life and work experience, are often excellent entrepreneurs. In fact, according to the U.S. Chamber of Commerce, many seniors are passing on retirement, opting instead for what’s referred to as “encore entrepreneurship.” So many have taken that route that seniors are now more likely to be working for themselves than any other age group. Which side hustle is right for you? Let’s review some options for selecting a niche and cover the steps you need to make that new business legal.