The biggest fear for many people these days is whether their nest egg will last throughout their retirement. One way to avoid outliving your money is to work longer—on your own terms. While you may not be able to retire at 65 (or don’t want to), if you’re doing work that you enjoy in your own business, setting your own schedule, and fulfilling goals that you’ve set yourself—it may not even feel like work.
Many Baby Boomers and retirees plan to start a business or are already self-employed, and many of their businesses are turning a profit. Pursuing professional dreams while working for themselves has enabled many older self-employed workers to secure their financial future. A recent survey by AARP found 10 percent of workers ages 45 to 74 plan to start a business and 15 percent of workers in this age range are already self-employed. Some started a business due to a job loss, others had already retired but weren’t ready to fully stop working.
On average, self-employed workers who are in their 40s or 50s spend nearly two decades working for themselves, the study found. “What we see is that most of the individuals that start businesses later in life represent professional services,” said Jean Setzfand, vice president for financial security at AARP. “Whether it be lawyers or accountants, data processing that tends to be more of what we see in terms of older self-employed workers.”
Mary Parker, a 59-year-old entrepreneur, spent more than three decades navigating two challenging industries before taking the helm of her own firm. After being downsized from her job as at auto manufacturing plant early in her career, Parker saw a job opening for a security officer. Some people may have seen that as a step down from the managerial role she previously held. Yet, she saw the long-term potential of taking this position and started to learn the security business from the ground up.
“In terms of career opportunities, you never really think about a security guard being anything other than a guard. What I learned was the security industry is a very lucrative industry,” she said. While rising through the ranks in that field, she felt she would be best fulfilled if she was running her own firm. “Although my career in corporate America was very successful, I just believe that any time you work for other people there are so many limitations,” she said.
Like many self-employed workers, including Boomers, Parker focused on providing a service. In 2001, Parker founded ALL(n)1 Security Services, based in Atlanta, Ga., which provides security personnel and technology. As CEO, she runs a multi-million dollar enterprise with more than 200 employees. See video of her story below:
[youtube=http://www.youtube.com/watch?v=nZCGBuYDdNA&w=560&h=315]
Parker isn’t alone in her accomplishments. Most of those surveyed by the AARP said their businesses were successful. “Once you have the life experience, you probably have a shorter pathway to being successful and that is something we’re seeing,” AARP’s Setzfand said. Nearly three-quarters of older self-employed workers surveyed by AARP indicated that their business made a profit in 2011. This may explain why 9 out of 10 self-employed older workers believe it is not likely that they will have to give up working for themselves in the next year.
Parker certainly intends to keep running her business. Thanks to a diversified portfolio of retirement funds and real estate investments, she said she could retire in a few years, but she’ll probably just keep working. “When I’m ready to retire in the next 3 to 5 years, financially I don’t have to worry about what that will look like,” Parker said. “I will not have to work, although I know I will continue to work.”
report by Sharon Epperson via nbr.com
Posts tagged as “Georgia”
Valerie Montgomery Rice was named the next president of the Morehouse School of Medicine in Atlanta. She will take office upon the retirement of John E. Maupin Jr. on July 1, 2014. Since 2011, Dr. Montgomery Rice has served as executive vice president and dean at Morehouse. Previously, she was a professor of obstetrics and gynecology and director of the Center for Women’s Health Research at Meharry Medical College in Nashville.
Dr. Rice will continue to serve as dean, or chief academic officer, when she becomes president of the Morehouse School of Medicine. “I consider it an honor that our board is entrusting me with the responsibility of continuing to build on the legacy of this pre-eminent institution,” said Dr. Montgomery Rice. “The vision is crystal clear. My role is to continue to further the mission while also positioning the school to remain relevant and at the forefront of an ever-changing medical education environment.”
A graduate of the Georgia Institute of Technology, Dr. Montgomery Rice received her medical training at Harvard Medical School.
article via jbhe.com
Natasha Trethewey, the Robert W. Woodruff Professor of English and Creative Writing at Emory University in Atlanta, was reappointed to another term as Poet Laureate of the United States. She is also serving a four-year term as the poet laureate of the state of Mississippi.
James H. Billington, Librarian of Congress, stated, “The Library and the country are fortunate Natasha Trethewey will continue her work as Poet Laureate. Natasha’s first term was a resounding success, and we could not be more thrilled with her plans for the coming year.”
Professor Trethewey is the author of four collections of poetry. Her collection, Native Guard, won the 2006 Pulitzer Prize. Her fourth collection, Thrall, was published late last year by Houghton Mifflin Harcourt. She is also the author of Beyond Katrina: A Meditation on the Mississippi Gulf Coast (University of Georgia Press, 2010).
A native of Gulfport, Mississippi, Professor Trethewey is a graduate of the University of Georgia. She holds a master’s degree from Hollins University in Roanoke, Virginia, and a master of fine arts degree from the University of Massachusetts at Amherst.
article via jbhe.com
RIVERDALE, Ga – Dr. Evelyn Wynn-Dixon, mayor of the City of Riverdale, has come a long way. Her story is a testimony to her ability to overcome the odds and persevere through difficult times. At her lowest point she was a homeless single mom raising four young kids and contemplated suicide by throwing herself off a bridge.
In a frantic attempt “to find a way out” Wynn-Dixon made her way to Pryor Street Bridge in Atlanta, overlooking I-75, and was prepared to jump. “I felt as if everything was gone and I’d ruined my life with one poor decision.”
She says her life spiraled out of control after she became pregnant during her first semester at Fort Valley State University. Dixon, a high school honors student, was forced to abandon her scholarship and drop out. Upon returning home, her mother passed away, leaving her with a six-month-old baby to care for.
Soon afterwards she got married, partly to avoid the stigma of being a single mom. She had three more children, but then the relationship fell apart, her husband walked out and subsequently Dixon was evicted with four infants, aged between 8 weeks and 6 years old.
A vision saved her life
Dixon, an Atlanta native, says she only snapped out of the overwhelming desire to give up when she saw a vision of her mom. “I was selfish but in the end I couldn’t do it.” It took many years to recover. But Dixon knew her only option was to educate herself out of welfare. She went back to school, earned an associate degree and later a Bachelor of Science. In her early forties, Dixon graduated with a Masters from the University of Georgia with her two sons.
Later she completed a PhD in public health and forged a successful career as a case worker at Atlanta’s Grady Hospital, specializing in neurology, before taking on a new challenge as director of a hospice. Still, it has been a difficult journey. When she first returned to higher education she made a six-mile trek from school to home because she was unable to afford public transportation.
“If one person can hear my story and think, ‘if she can do it, so can I,’ then I have done my job. I didn’t let my zip code make me. I made it for myself.” In 2007, at the age of 59, with no prior political experience, Dixon launched a campaign to become mayor of the City of Riverdale in Clayton County, Georgia.
A new chapter
“I never desired to be in politics, never ever.” But Dixon, a devout Christian, says a prophetic visionand the hand of fate opened doors for the start of a new chapter in her life. “I prayed for it to be a sweat-less victory and for God to order my steps,” says Dixon, who was already well-known in the Riverdale for her commitment as a community foot soldier. “The campaign cost less than $3000. We had a runoff and I won.” The highly-accessible ‘People’s Mayor’ says from the start her dream has been to “change the branding and imaging of the City of Riverdale.”
Atlanta lived up to its reputation as the Hollywood of the South on Saturday with the advance screening of BET’s upcoming film Being Mary Jane. The movie, starring Gabrielle Union, debuts on the cable channel on July 2 at 10:30 pm. The hour-long production will serve as a teaser for the anticipated Being Mary Jane series scheduled to hit the screens in January 2014. It is just one of a handful of shows drawing attention to BET’s newfound shift towards original programming.
A protagonist who is far from perfect
Being Mary Jane, which was shot in Atlanta, revolves around the main protagonist Mary Jane Paul (played by Union), a successful talk show host, who on the surface has an enviable lifestyle. Still, her life is far from perfect.
“It’s in her [Mary Jane Paul’s] low moments where she most expresses her humanity,” said creator Mara Brock Akil in a Q&A with entertainment journalist Kelly L. Carter after the screening at the stylish W Hotel in Midtown Atlanta.
LOS ANGELES (AP) — Clarence Burke Jr., lead singer of the group the Five Stairsteps that sang the 1970 hit “O-o-h Child,” (see video below) has died. He was 64.
His manager, Joe Marno, says Burke died Sunday in Marietta, Georgia, where he lived. The cause of his death was not disclosed. Formed in Chicago in 1965, the Five Stairsteps included Burke and four siblings.
The group had several hits in the 1960s and ’70s, including “You Waited Too Long,” ”World of Fantasy,” and “Don’t Change Your Love.”
The Los Angeles Times says the group disbanded in the late 1970s but the brothers briefly reformed as the Invisible Man’s Band and had a 1980 success with the dance single “All Night Thing.” His family says in recent years, Burke performed solo concerts and continued to record.
[youtube http://www.youtube.com/watch?v=yrotsEzgEpg&w=420&h=315]
Copyright 2013 The Associated Press via thegrio.com
Be nice, worship God and eat pigs’ feet: That’s how Jeralean Talley of Inkster, Michigan says she lived to celebrate her 114th birthday today — and be crowned the oldest person in the United States. Using census records, the Gerontology Research Group verified her title after the previous oldest American, Elsie Thompson, died at 113 in March. Talley is still a youngster, relatively speaking, compared to the world’s oldest person, Jiroemon Kimura, who is 116 and lives in Japan.
In a phone conversation on the eve of her 114th birthday, Talley told TIME, “I feel okay.” These days, the supercentenarian lives with her daughter Thelma Holloway, 75, and says she passes the time by watching The Ellen DeGeneres Show and Wheel of Fortune as well as listening to baseball on the radio – though she doesn’t have a favorite team. She can stay up as late as midnight and feasts on her favorite foods: potato salad, honey buns, McDonald’s chicken nuggets and Wendy’s chili.
Chelesa Fearce is a shining example of a student that didn’t let obstacles get in her way when it came to her education. You see, during most of Chelesa’s high school career she was homeless and living in her mother’s car. Chelesa, a senior at Charles Drew High School in Clayton County, Georgia, knew that her hard work would pay off, despite the obstacles presented to her.
“I just told myself to keep working, because the future will not be like this anymore,” Fearce said. “You’re worried about your home life and then worried at school. Worry about being a little hungry sometimes, go hungry sometimes. You just have to deal with is. You eat what you can, when you can.”
Although her family occasionally lived in an apartment, because of her mother’s lay-offs, they took refuge in shelters. “Ended up back in another shelter because I got laid off from my job maybe about four or five times,” Fearce’s mother, Reenita Shephard said. “I just did what I had to do,” Fearce said.
None of that stopped Chelesa from achieving a 4.466 GPA and a 1900 SAT score. On top of her regular high school course load, Chelesa was able to enroll in college courses during her last two years of high school. When she enters Spelman in the fall, she will do so as a college junior. Brains apparently run in the family. Chelesa’s sister is graduating from George Washington Carver High School as a salutatorian.
“I read to them a lot. Everything was a learning experience,” Shephard said. “Don’t give up. Do what you have to do right now so that you can have the future that you want,” Chelesa said.
Related Stories:
- From Homeless to College Grad: Story of Joshua Williams Inspires
- Homeless Teen Drew Gooch Earns Full Scholarship To College in Tennessee
article by Yesha Callahan via clutchmagonline.com
President Barack Obama, in a soaring commencement address on work, sacrifice and opportunity, told graduates of Morehouse College Sunday to seize the power of their example as black men graduating from college and use it to improve people’s lives.
Noting the Atlanta school’s mission to cultivate, not just educate, good men, Obama said graduates should not be so eager to join the chase for wealth and material things, but instead should remember where they came from and not “take your degree and get a fancy job and nice house and nice car and never look back.”
“So yes, go get that law degree. But if you do, ask yourself if the only option is to defend the rich and powerful, or if you can also find time to defend the powerless,” Obama declared. “Sure, go get your MBA, or start that business, we need black businesses out there. But ask yourself what broader purpose your business might serve, in putting people to work, or transforming a neighborhood.”
“The most successful CEOs I know didn’t start out intent on making money – rather, they had a vision of how their product or service would change things, and the money followed,” he said. For those headed to medical school, Obama said “make sure you heal folks in underserved communities who really need it, too.” He asked those headed to law school to think about defending the poor.
ATLANTA — This weekend will be a busy one for Dorian Joyner, Sr. Sunday morning, he will watch his oldest son graduate from Morehouse College. Joyner will have a front row seat for commencement. After all, he will be a fellow graduate himself.
Joyner started his Morehouse journey back in 1984, but never finished. Three years ago, he decided it was time to come back. By then his son, Dorian Joyner, Jr. was already a freshman. When the younger Joyner heard his father was coming back to Morehouse, he admits, it was a shock at first.
“I said, ‘oh, you’re coming back to visit some of your friends?’” he remembered. “And [Dorian Senior] said ‘no, I’m coming back to be a student.’ I said – can you repeat that?” While most kids come to college to get away from their parents, Dorian Junior says he never felt like he was under his father’s thumb.
“We used to have a support system. Sometimes he would come to my room to ask about a problem or a class or a professor to take,” he said. Daddy Dorian, who allows his son to call him by his first name on campus, said the two have their own friends and schedules, so their paths rarely intersect. But after three years of learning from and pushing each other, the two have a bond that goes deeper that father and son.
article by Blayne Alexander via thegrio.com