America’s SBDC Blog

A “Forbes 100 Best Websites for Entrepreneurs”

You’re 50. You’re Downsized. Now What?

June 12, 2015

FranNetAt FranNet, we believe franchising makes sense no matter what stage in life you find yourself. As you may have witnessed yourself, the job market no longer provides the long-term security it once offered. Previous generations grew accustomed to a certain career and the length of time they would be in that job — this is now less of a reality than ever before.

One of the things to consider in a life or career transition is that people are living a healthier lifestyle than ever before. This adds to longevity. People are living longer lives today and perhaps a little more willing to make changes in their lives. So with 50 being the new 40, 40 the new 30, and so on, how can you plan for the long-term?

Think about it—if you’re downsized around the age of 50 and expect to live just the national life expectancy, that’s nearly another 30 years of your life you’ll need to account for. Are there companies out there clamoring for a 50-something former corporate person? What will you do with yourself? Many are turning to small business ownership and franchising. And there’s even a term for it. It’s called your “Encore Career.”  (more…)