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Entrepreneurs Over 50

September 20, 2012, 9:50 PM by Angela Kennecke

Entrepreneurs Over 50

Retirement isn't what it used to be. One in four Americans ages 44 to 70 are interested in becoming entrepreneurs and a majority of them plan to work in retirement.

There are plenty of resources available to those who want to start their own business in their golden years.

50-year-old Scott Redd is watching his dream come true from the ground up. 

"In the back of my mind and my wife's mind, we always talked about starting a business and we just never really saw the perfect business we wanted to start," Redd said.

But after he retired from the military they found the perfect business; an indoor trampoline center called SkyZone. 

"We were savers, always scrimping making sure we had money put away. So, we had money put away to try to start a business, but not near enough; so the scary part is you've got to get a loan or find investors," Redd said.

So Redd turned to the Small Business Administration and SCORE to get the advice he needed to put his business plans together and get a loan.

More people over the age of 50 are being encouraged to take advantage of these resources.

"People are getting to a stage in their life where they've had a career that maybe they're been very successful at and they've decided it's time to switch into something they're truly passionate about or look for something that will carry them into the next third of their life," Cathy McLeer of AARP said.

AARP and the SBA will hold an Encore Entrepreneur Fair to help people like Redd realize their retirement dreams to keep on working.

"We can't wait to open. We're a little behind schedule with the building but after the first of the year when the building you can see it and we go vertical; that part is going to be very exciting," Redd said.

You can find out more about the Encore Entrepreneur Fair being held on October 2 and register for the event by taking this link.

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