August 6, 2007 3:09 PM

Turning savings into a start-up
Posted by Douglas Eisenhartat 3:09 PM

Don't want to stop working at 55, 60, or 65? You're not alone.

And, according to this column from the latest TIME magazine, more and more restless "retirees" are putting their nest eggs at risk in new and creative ways -- in start-ups:

Money experts warn that it's a bad idea. But a steady flow of people past the age of 50 are funding new businesses and nonprofits with their retirement savings anyway--and having enough success (or fun) to brag about it. About a third of self-employed people over 50 didn't strike out on their own until after the big five-oh. These people say they'd rather be in business than in Boca, and they view their pensions and home equity as a lifeline to remaining productive and engaged after retiring.