The Wall Street Journal has an informative article about how some Baby Boomer entrepreneurs are using their nest eggs to start their own businesses. Should you be considering starting your own business, the article is required reading. A couple of excerpts:
Entrepreneurs have always tapped their cash reserves to start businesses. But boomers are discovering they have a crucial advantage over younger businesspeople: They can draw on decades' worth of savings to fund their start-ups. And that means much more latitude. Boomers don't always have to spend valuable time and energy lining up loans. And they aren't stuck making onerous debt payments on top of other business costs.
Of course, betting the nest egg carries big risks. If boomers lose a big chunk of their money, they may not have time to make back the cash.