Micro-Business: Real or Slow News Day?

RobinWolaner
RobinWolaner
Staff

Posted: Jul 2, 08 7:22pm

The Times has a piece on yet another boomer trend - working in retirement, for very little money. http://tinyurl.com/4fwoov

They call it "Going into Business, Mostly for Fun." I call it hobbies, and think it was a slow news day at the Times so they needed a boomer trend piece. What do you think?

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3 Comments // 3 Members
Kimberlee
Kimberlee
Founding Member

Posted: Jul 2, 08 7:29pm

I think it's a little more than hobbies. If you call it a business, and treat it like a business, it gives you a little more structure to your day, more purpose, which I think many people need.

dewi
dewi
Founding Member

Posted: Jul 3, 08 6:59am

I'm not sure why any 55 year old goes into "retirement". It is such an antiquated notion. If you're a physical laborer digging ditches or hauling garbage retirement can seem like a good idea at 55.

Sadly many over 55 are encouraged by company ageism to feel like they need to retire.

This is what the IRS defines as the difference between a hobby and business: Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit.

Kimberlee
Kimberlee
Founding Member

Posted: Jul 3, 08 8:05am

Maybe they should call it something other than retirement. I know that as soon as I don't have to support my kids, I'll be happy to get out of the rat race, but I don't think I could do just nothing. I'm the opposite though. After owning a business for the last 20 years, I'm looking forward to maybe working for someone else. Or at least not having any employees...