The Wealthy Retiree - Retire or Reinvent

As a savvy boomer you're probably doing your due diligence asking yourself if you plan to retire or reinvent. A boomer is not an old person who is near death. Boomers are vibrant, alive, and active and often want more out of life and truly examine deep needs before making a choice. If you choose to start a business it's important to figure out what you want from that business so that you can choose correctly. There are key question to ask yourself when making the choice to retire or reinvent.

What are your financial goals? -- Setting financial goals is a way to determine if you already have met those goals or if you need more working years to reach them. Sit down and write down your goals in regard to finances, and then move on to the next questions to help you reach them.

What are your interests? -- Sometimes starting a business is more about what your interests are. Many people don't really want to retire, that is not something that is exciting to them. Instead, they are excited by doing something new and interesting and starting a business is one of them. Do your current interests lend themselves to a business? What do you like to do now that can become a business?

What is your work style? -- Do you like working on the clock, 8 to 6, or do you prefer a more eclectic style of working? Do you like to work late into the night, or early in the morning? Do you like working directly, face-to-face with others or would working remotely be more your style?

What are your skills? -- What skills do you possess now that would help you realize your dream of business ownership? Can you learn new skills? Should you learn new skills or can you use the ones you already have to parlay into a business?

Where do you plan to live? -- When you start your business will you live where you do now or did you have other plans after retirement from your other job? Will your business ideas translate to the new location? Is there high speed Internet and infrastructure available so that you can work remotely if you want?

What type of work do you want to do? -- Deep down you know your dream job and your dream business, what is it? Identify it by just answering with what comes to your mind first? If nothing comes to mind go look on the net at what others are doing and see if any of those ideas gel with your situation.

Do you want to work full-time or part time? -- Maybe you want to retire partially and only run your new business part time. Do your ideas lend themselves to working part time. Are you able to turn down work so that you remain part time? Can you find a group of people to outsource overflow to so that you become a manager of your new business instead of a slave to it? Or, do you love working as much as possible?

The great thing about reinventing your life after retirement is that it's totally up to you to design the kind of work life after retirement that you desire. What works for you? What do you want? It's at your fingertips, you only have to grab it.