The new retirement: staying busy making money

In fact, a recent survey by Harris Interactive for Yahoo! Small Business found that 72 percent of the people over the age of 55 agreed with the statement, "I will never be too old to start my own business."

Only three per cent of survey participants said that "getting rich" was the main reason they wanted to start a business. The same survey in 2005 put that number at six per cent. And nearly a third of the respondents said that doing work they really love was the primary motivation for launching a business.

"Clearly, these findings suggest there are conditions in the job market and in older workers' desire for autonomy and flexibility that make self-employment an attractive option for those in their late 60s," said Dr. David DeLong, author of a study for the MetLife Mature Market Institute.

As the oldest boomers turn 60 in 2006, their desire for trying new things could portend a significant wave in departures in the next year, says DeLong, suggesting a wave change in the workplace that will be propelled by entrepreneurs.

The perks of being self-employed include being held accountable for their own success, being their own bosses, and not having to live by anyone's rules. Other reasons cited for starting a business include the satisfaction of making money from a good idea as well as the opportunity to create a family business effort.

Management consultant Randall Craig, author of Leaving the Mother Ship, offers these tips for budding boomer entrepreneurs:

1. Do your research. Make sure there is enough demand for your product. Talk to other people in the field to better understand the opportunity in the market and determine what is necessary for success.