And I had this aha moment — it was women over 50 saying they wanted to do their own thing. They wanted to live their own life. They were feeling invisible, instead of invincible.
The people and businesses that have thrived in the wake of a major crisis are those who’ve been proactively creative. By that I mean that they’ve purposefully and strategically invented new and different jobs or careers for themselves, or products and services that are particularly well suited to the postcrisis economy.
It’s the conversations with the founders. It is the mentoring. It’s the tough love. That’s where I get my joy and my energy.
At 50+, it was “a growing up moment” for her, Venice Strachan-Singh says. Like many job seekers in this age cohort, trying to replicate a previous job is tricky, and the rejection can be shattering. “I thought I was such a star at what I did, and it would be a breeze to find another job, but it was a tremendous blow to my ego,” she says. “My self-esteem went down the tubes.”
“As an entrepreneur, your most valuable resources are your time and attention. It’s best to save your time and attention for activities that are really central to your value proposition,” says Daniel Forbes, an associate professor at the Carlson School of Management University of Minnesota
The internet has empowered adult learners by providing new online tools to ramp up education and training. “The need for workers to keep pace with fast-moving economic, cultural and technological changes, combined with longer careers, will add up to great swaths of adults who need to learn more than generations past — and faster than ever,” said Luke Yoquinto, a research associate at the M.I.T. AgeLab.
“An intergenerational team brings more diversity in thoughts and strengths that can help a small business reach a larger audience more effectively,” says Kimberly A. Eddleston, a Northeastern University entrepreneurship professor and a senior editor on the EIX Editorial Board of the Schulze School of Entrepreneurship at the University of St. Thomas in Minneapolis.
The pandemic intensified the labor market inequities older workers faced in securing jobs. It is quite probable that COVID-19 will force many workers in their 50s into an early retirement or gig jobs.
“A lot of people are afraid that a home office deduction is inviting an audit,” said Mark Luscombe, principal federal tax analyst at Wolters Kluwer Tax & Accounting in Chicago. “My view on that is if you are entitled to the deduction you should claim it, as long as you follow the rules.”