At what age should an entrepreneur retire?

[Nurudeen]

I don't think there should be a permanent age for an entrepreneur to retire. You know this depend on human body system and what some people's body can adapt to some others body can never try it but in general I think an entrepreneur should retire at the age of 60 years

 

[Azhar119]

In conclusion, here are 5 points to bear in mind when to retire:

1. Retirement does not have to be at the age of 65
2. Plan ahead, prepare your business to sell well - don’t let your business stagnate.
3. Sell your business while you are still enjoying it and the business is going well.
4. Realise the value of your business in good time so that your wealth can be passed on to the next generation.
5. If you don’t wish to retire, you can still sell your business but take a consultancy role or non-exec directorship.

 

[Seun4luv]

You're so busy that if you take time off things start to fall apart. You're experiencing more frequent health issues and stress. You constantly need new customers and it's hard to hang on to existing ones. You have to force yourself out of bed in the mornings.

 

[Nabeel119]

Having built the businesses typically from scratch over the last 20 years or so, the owners feel that they have put all they can personally into their business and that a buyer with more focus and energy would be better placed to take the business to the next level. They therefore decide that now is the right time to sell the company rather than wait another ten years until full retirement age.

 

[Dubai]

As an entrepreneur, the retirement age is not fixed and many would want to stay in business to be relevant in the business world.
50yrs of age is an ideal time for me, because I'm the type that wants to stay beyond 25Years in business.

Allowing another brilliant mind to take over the business while I enjoy my retirement at that age is cool.

What about you?

Most entrepreneurs do not retire at all. Only few does and they stay well above 60 before retiring. Many people do not like being idle so they find it difficult going into retirement. It seems to be a form of punishment. As an entrepreneur, you should retire around 65 to 70 years. Its the best time to stay away from the business.

 

[singlej007]

Majorly it depends when the enterpreneur started his or her business, if the business was started early, I will suggest 55 years, but if the enterpreneur did not start his or her early then I will suggest 65 year.

 

[Muhammadawais]

How to tell when it's time to leave and move on

You are so busy that if you take the time, things will start to fall apart. ...

You often have health problems and stress. ...

You need new customers constantly and it is difficult to meet existing customers. ...

You have to get out of bed in the morning.

 

[westmania]

Once he has enough backend money collected and over 45 years minimum he may think about retiring but 45 is not a must age just optional i think. This way one may get relief from work but sometimes boringness is bigger pressure.

 

[Adetayo100]

There is no specific time for person to retire it depends on that person only survey suggests that 34 percent of entrepreneurs don't currently have any retirement savings plan – even though 60 percent say they plan on retiring before the age of 65

I beg to disagree, am entrepreneur is just getting starting at that age, it is only death that retire most entrepreneurs. Most of the manages there business or investment till they die or when they simply cannot continue again

 

[maventiger]

I beg to disagree, am entrepreneur is just getting starting at that age, it is only death that retire most entrepreneurs. Most of the manages there business or investment till they die or when they simply cannot continue again

@Adetayo100 managing their investment till when they die or when they can't continue to oversee the affairs of the business isn't good for the growth of the business. The owner of Amazon can be retired at any point of time if the board feel he should. Such decisions allow continuity of a culture that allow business growth.

 

[Abu4exel]

After working and make much money from your business, you should be able to retire at some point. So, has an entrepreneur, the right age for you to retire is 65 years of age.

 

[Funufidelis]

Self-employment and entrepreneurship among older age groups is rising (Wang, Zhan, Liu and Shultz 2008). This trend seems related to a broader development in older workers work-retirement and life-cycle career choices. Considerable research has established that retirement can be characterised as a process which can take multiple forms (Beehr and Bennett 2007). Many older adults engage in some form of transitional employment (so-called bridge jobs) between their career employment and complete labour force withdrawal, combining earnings and the receipt of retirement benefits. The importance of these bridge jobs, including self-employment, is likely to increase in the future (Cahill, Giandrea and Quinn 2013).

 

[gbadebo9]

Entrepreneur does not have a certain age to retire after all he is the owner of the business. But the only advise to entrepreneur is that he must groom a successor either from his subject or his children so when he us unable to carry on ad a result of incapacitation he will have confidence if replicate the essence of the business. But he shine his eyes so that he will continue blossom

 

[Ifective]

An entrepreneur should retire at the age where he or she do not longer have the healthy body to work. Also, an entrepreneur could retire when he or she has achieved what he or she has set to achieve and also have the ability to sustain and retain the wealth he has acquired till death

 

[Goodday]

The age an entrepreneur could choose to retire mainly depends on him or her. Almost all entrepreneurs work for themselves and therefore whatever decision they choose to take mainly depends on them. And for an entrepreneur to retire, he or she will first look for either his or her child or relative to replace his position before he can comfortably retire.

 

[MarieArie]

I don't think there should be a permanent age for an entrepreneur to retire. You know this depend on human body system and what some people's body can adapt to some others body can never try it but in general I think an entrepreneur should retire at the age of 60 years

I don't even think retirement age should be a topic of discussion for entrepreneurs. Since they are creating something, they shouldn't relent. They should only, however employ people when they're in their prime and put these people through for them to know how to operate these businesses right in time.
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I don't think there should be a permanent age for an entrepreneur to retire. You know this depend on human body system and what some people's body can adapt to some others body can never try it but in general I think an entrepreneur should retire at the age of 60 years

I don't even think retirement age should be a topic of discussion for entrepreneurs. Since they are creating something, they shouldn't relent. They should only, however employ people when they're in their prime and put these people through for them to know how to operate these businesses right in time.

 

[Usman Sattar]

Rather than living fast and dying young, a surprising number of people are stepping into entrepreneurship in and around the period of their retirement and some post that!

After all, their broad and deep knowledge, management experience, and large professional networks certainly gives them an edge at that age.

Here are few reports which show why 50+ can be the best age to start a business:

According to a study by the Kauffman Foundation, that surveyed 652 US-born CEOs and heads of product development, “The average and median age of U.S.-born tech founders was 39 when they started their companies. Twice as many were older than 50 as were younger than 25.”

Another study by the Founder Institute found that up to approximately the age of 40, businesses were more likely to succeed as their founders age.

 

[Patrik]

there is no stable or fixed answer for this, it differs from a person to another, not everyone is the same, so age differs too, for example, some will want to retire at their early 50's when some never prefer retiring and love working

 

[Kinglegend01]

I think the retirement age for an entrepreneur totally depends on the person and how much he or she wants. I think all the enterprenuer I know didn't choose a date or age of retirement,they all retired when they couldn't cope with the stress of running and keeping the business alive.

 

[Kamon c4]

There’s no specific retirement age for enterpreneur. Most Enterpreneur never retires. Their business life is already a part of their life and leaving by May be hard for them. Though some enterpreneur chooses to retire at 65 but it’s not the compulsory retirement age for all