Necessity Giving Rise to Those 50 and Older Becoming Self-Employed
There has always been risk involved with starting your own business, becoming self-employed. That risk is higher among those over 50, as their “prime income earning” years are waning. However, with the slowdown in the economy, more and more baby boomers are seriously considering striking out on their own and starting their own businesses.
A recent study found that 21% of all workers who change careers after the age of 51 choose to become self-employed. The term being applied to the current trend, involving older workers being laid-off due to downsizing and other factors, is “necessity entrepreneurship.”
It may be surprising to learn that, according to a another study, over the past decade more people between the ages of 55 and 64 started web-based businesses that those between 20 and 34. This trend is expected to continue.
While necessity is the mother of invention, necessity is also the potential mother of financial independence. More and more baby boomers, those born between 1946 and 1964, are taking a more serious look at the possibilities of self-employment.
Baby boomers bring vast experience into a business. Many of them have developed skills and expertise, which until now, have been used primarily to profit others. Duke Professor Vivek Wadhwa, who studies entrepreneurs, says, “The more experience you have, the more likely you are going to be successful. The average entrepreneur starts a company because they want to build wealth. They are tired of working for other people, and they have ideas.”
Most business decisions can be boiled down to a simple “risk versus reward.” It parallels that the greater the risk, the greater the reward. The fact is that the Internet has made it possible to start a home-based business with a minimal investment. As well, a web-based business can be located anywhere.
While more and more of the 50 and over crowd seriously consider their career options, many may feel that they have waited too long and that opportunity has passed them by. In the age of the Internet, nothing could be further from the truth. In particular, with the advent of social sites such as MySpace, Facebook, and Twitter, (often referred to as Web 2.0), social marketing possibilities are boundless. Not surprising, the fastest growing segment on these social sites is baby boomers.
Thanks to the Internet and the ability it provides to connect with people all over the world, opportunity abounds. Information – the very information that many baby boomers possess because of their experiences – have never been in greater demand.
Becoming self-employed takes effort, but that is not a barrier. A strong work ethic is a common trait of those over 50. Generally, work is not this issue. The biggest question is simply, “How do I become self-employed?
Again, the Internet may provide the answer. It has never been easier to obtain information, to learn new things. Most community colleges now offer business and finance classes online, and many colleges and universities make it possible to earn a degree without ever leaving home.
There is also an abundance of free Internet training, especially pertaining to web-based businesses. It is possible to learn everything one needs to know to set-up and run a profitable online business from the kitchen table.
However one decides to pursue their goals, it is clear that there have never been more affordable resources than right now. Instead of worrying about when the economy might rebound, the time may be right act on that long-held and pent up desire to be the boss. Now may be the best time , and seriously look at self-employment as an alternative to working for someone else. In many ways, the time has never been better.
Necessity is once again proving a mighty force for change.
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Tom Lane has been a sales executive and business owner for the past thirty-five years. He grew his most recent business, a sales agency, from $3 million in sales to over $15 million in four years. He now invests his time helping others, primarily Baby Boomers, to learn how to use Internet marketing to enrich their lives. Much of the information Tom uses to teach “attraction marketing” principles is from The Renegade University, a free Internet resource. Tom’s blog, The Branded Boomer provides useful Internet marketing tips and resources for Baby Boomers. |
Thanks for the info Tom!
Goldenseal:What You Need to Know About Goldenseal
Introduction
Information below contains basic information about goldenseal—common names, uses, and potential side effects. Goldenseal is a plant that grows wild in parts of the United States but has become endangered by overharvesting. With natural supplies diminished, goldenseal is now grown commercially across the United States, especially in the Blue Ridge Mountains.
Common Names—goldenseal, yellow root
Latin Name—Hydrastis canadensis
What It Is Used For
- Native Americans have used goldenseal for various health conditions such as skin diseases, ulcers, and gonorrhea.
- Goldenseal is now used for colds and other respiratory tract infections, infectious diarrhea, eye infections, and vaginitis (inflammation or infection of the vagina). It is occasionally used to treat cancer.
- It is also applied to wounds and canker sores, and is used as a mouthwash for sore gums, mouth, and throat.
How It Is Used
- The underground stems or roots of goldenseal are dried and used to make teas, liquid extracts, and solid extracts that may be made into tablets and capsules.
- Goldenseal is often combined with echinacea in preparations that are intended to be used for colds.
What the Science Says
- Few studies have been published on goldenseal’s safety and effectiveness, and there is little scientific evidence to support using it for any health problem.
- Clinical studies on a compound found in goldenseal, berberine, suggest that the compound may be beneficial for certain infections—such as those that cause some types of diarrhea, as well as some eye infections. However, goldenseal preparations contain only a small amount of berberine, so it is difficult to extend the evidence about the effectiveness of berberine to goldenseal.
- NCCAM is funding research on berberine, including a study to understand the mechanism by which it may act against tumors.
Side Effects and Cautions
- Goldenseal is considered safe for short-term use in adults at recommended dosages. Rare side effects may include nausea and vomiting.
- There is little information about the safety of high dosages or the long-term use of goldenseal.
- Although drug interactions have not been reported, goldenseal may cause changes in the way the body processes drugs, and could potentially increase the levels of many drugs. However, a study of goldenseal and indinavir, a drug used to treat HIV infection, found no interaction.
- Other herbs containing berberine, including Chinese goldthread (Coptis trifolia) and Oregon grape (Mahonia aquifolium), are sometimes substituted for goldenseal. These herbs may have different effects, side effects, and drug interactions than goldenseal.
- Women who are pregnant or breastfeeding should avoid using goldenseal. The berberine in the herb may cause the uterus to contract, increasing the risk of premature labor or miscarriage. Berberine may also be transferred through breast milk, causing life-threatening liver problems in nursing infants.
- Goldenseal should not be given to infants and young children.
- Tell your health care providers about any complementary and alternative practices you use. Give them a full picture of what you do to manage your health. This will help ensure coordinated and safe care.
Michael J. Fox Talks to Katie Couric Re: Rush Limbaugh
I watched Michael J. Fox late last night on TLC. I was deeply touched by his tenacity and devotion to his cause and family.
He has inspired me to strive to be a better person and hope he touches you in the same way.
I wish him the best and we will find a cure for Parkinsons in his lifetime. We all have to help!
Apollo 11: 40 Years At The Speed Of Light
With my Revell model kit of the Apollo 11 Command Module, Service module and Lunar Lander in hand, I gingerly opened the cellophane wrapper that possibly changed my life forever.
Meticulously opening the box, I saw a bunch of white styrene pieces attached to white styrene tubes. Yelling back at my mom I said ” It’s in a million pieces !!!!
My mom quietly said ” wait for you Dad to come home….. he’ll give you a hand”.
What, wait until suppertime. No way!!
Mulling through the semi- incoherent assembly instructions I decided I would be just like one of the NASA engineers and put the holy mess together myself!
Piece by piece, I persevered and Voila! I was ready for launch.
Everyday of the mission I would watch tv and recreate what happened that day.
I would hold the Command Module and the Lunar Module together in the docked position.
Using ants as my astronauts, I flew the spacecraft around my street daily until the day of the landing.
I glued myself to the tv with model in hand and in utter awe watched history being made!
I slowly detached the Lunar Module from the Command module and made my decent to the orange shag carpet lunar surface. (not so authentic but it did fine).
The Eagle had landed!
One small step for man….. one giant leap for Jeff.(err Mankind).
That event, as I try to recount to my children, was probably the most memorable time of my life.
My interests in Science, Engineering, Design, and teamwork all stem from that time in history.
I am grateful to have been there and grateful to be alive to recount this story to all who read this blog.
It seems like just yesterday!
Jeff Pevzner
Do Boomers Hold the Key to Rescuing Our Troubled Economy?
Ladies and gentlemen, they just might. Baby Boomers’ innovation, experience, expertise, and vast network of contacts may be the order of the day when it comes to breathing some life into our faltering national finances. How, you ask? Why, through the wonders of entrepreneurship, of course.
Americans Believe Entrepreneurship is the Answer
A recent poll conducted by the Kauffman Foundation for Entrepreneurship found that 56% of Americans believe that small business, rather than government, will lead us out of financial crisis and into stability. Over 70% of those surveyed believe that the vitality of the economy is dependent on the achievement of entrepreneurs, and 80% believe that the government should devote resources to encouraging entrepreneurship on a national scale. And who better to start a business than the ever-savvy, well-connected Boomers, who already constitute a disproportionately high number of the country’s self-employed workers? They’ve got some time on their hands, a wealth of knowledge, and a career’s worth of networking behind them…and now they’ve got the support of the U.S. Small Business Association, as well.
U.S. SBA Launches Website Dedicated to the 50+ Entrepreneur
This month, the SBA formally demonstrated its support by launching a website dedicated to the 50+ entrepreneur. Here Boomers can find everything they need to get their new venture off the ground: free online training, interactive communication tools, marketing support, advice on how to assess their readiness and get started, and more. It’s all online at http://www.sba.gov/50plusentrepreneur/
“The SBA is working hard to increase opportunities for small businesses of the baby boomer generation at every stage of their business development through better technology tools and effective services through the agency’s district office and resource partners,” says Acting SBA Administrator Sandy K. Baruah in a recent press release. “We believe 50+ entrepreneurs will drive significant new business growth in the coming years.”
Do Boomers have what it takes to turn our shaky economy around? Let’s look at the facts: this is the same generation that constitutes the biggest economic group in our country today. They control more of the wealth, earn more and spend more. They fought for civil rights and women’s rights, championed education and the environment, brought us the personal computer and the IPod, and heralded a resurgence of social activism. They’re educated and informed, and most of all, they’re used to bucking the system and coming up with creative solutions.
Folks, my money’s on the Boomers.
Make Your Health Information Personal
MedFlashtm Products:
Personal Health Record (PHR)
Emergency Medical Record (EMR)
MedFlashtm is a simple to use USB storage device for your medical information that can be worn as a necklace or used as a keychain.
President Obama on PHRs:
“To improve the quality of our health care while lowering its cost, we will make the immediate investments necessary to ensure that, within five years, all of America’s medical records are computerized. This will cut waste, eliminate red tape and reduce the need to repeat expensive medical tests. But it just won’t save billions of dollars and thousands of jobs; it will save lives by reducing the deadly but preventable medical errors that pervade our health care system.” – Barack Obama, 2009.
User Friendly:
MedFlashtm comes with a user friendly program that will allow you to quickly enter your information into the emergency data file.
At your Doctor’s Office:
MedFlashtm can also save time at the doctors office.
Remembering all the information they require you to fill out before the visit is difficult.
Keep your information updated on the MedFlashtm and before the office visit, just print it out and take it with you. This will save time and insure accuracy.
In an Emergency:
This file is accessed by the emergency personnel without any special software. The less time they spend getting the information, the more time they have to use it to help you.
The MedFlashtm Advantage:
In an emergency, MedFlash can provide crucial information to Medical Personnel even when you are unable to.
MedFlash is a HIPAA compliant Personal Health Record (PHR) with 1GB of storage. It holds your personal medical and lifestyle records and can be used on any Windows based computer with a USB port with complete privacy.
MedFlash will store your prescription information, thereby reducing the potential for drug interactions and medicine errors. You can print out your medications and dosages before an appointment with a physician; therefore ensuring you have the correct information.
MedFlash can be a lifesaver for travelers, caregivers, anyone who resides alone as well as for patients with disabilities. Great for individuals with complicated medical histories.
MedFlash is simple to use. You can easily update it as your medical history changes.
MedFlash can hold your complete medical history and has room for hundreds of pages of documents and images, including MRI, x-rays and EKGs.
MedFlash can securely keep all your family members’ medical information in one location.
MedFlash is portable and can attach to your keychain or necklace.
Program updates are free to registered users.
MedFlash is not only affordable, it is the future of the Personal Health Record (PHR), far surpassing the information found on emergency medical bracelets and IDs.
MedFlashtm Personal Health Record & Emergency Medical Record:
MSRP = $34.95
MedFlashtm is a simple to use USB storage device that comes with special software to help you collect and manage your personal medical history.
This “key-chain” version of MedFlashtm can be worn on a necklace or placed on your keychain.
Order now! Get your MedFlashtm device today and take control of your personal health record.
Your personal medical record – included with MedFlash device!
The data file is in an ASCII text format which can be accessed without special software. Most hospitals and ambulance services will not allow their personnel to load external programs due to the threat of viruses. MedFlashtm does not require any more than the use of notepad or any other word processor to get to the needed information.
If a doctor would like to make updates to your data, just let them load the program from your device and they can make updates as they wish.
Other files such as EKGs, MRIs and X-Rays may be placed on the MedFlashtm device by using Windows Explorer tm. Any file that your doctor would like to place on the MedFlashtm can be easily copied without altering your emergency information. If they have any questions on how to do this, we will be glad to assist.
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