The common age of retirement for a business owner

[Alexandoy]

In the news is the death of Mr. Tantoco who is the founder of the classy boutique and upscale supermarket called Rustan’s. He was 100. He and his wife made a start up of the boutique 69 years ago. With that news what comes to mind is the retirement age of business owners.

The richest man here named Henry was forced to retire before reaching 90 years of age due to sickness. But despite being in the hospital for the care he needed he was still honorary chairman of his business empire. At present his eldest daughter Tessie is the active chairman of majority of the business. Tessie is 70 and there is no sign that she is going to retire. In fact, she is the approving officer of hiring executives and managers. Maybe the business has a magnet to their passion because they couldn’t enjoy their riches anymore even at their old age.

 

[btaliat]

I have a business owner too that's close to 60 but never plan of retiring. At least I do wonder that she needs some break to enjoy her labour but maybe she is not thinking the way I am thinking. When a business owner clocks 60, personally, I will set up shareholder board where I will be the chairman. The running of the business won't be on me again. I need to enjoy my sweat.

 

[Yugocean]

Employer decides the retirement ages, for example there is fixed retirement age for government employees; however politicians (who rule as government) do not retire after reaching a that age. So does private sector, Owner decides when to retire, unless there is age written on their Article for the post they hold.​

 

[Deleted member 28127]

If you are planning to get retired at age of 60 means you will not work however being all the time at coffee or restaurant or at home whitout nothing to do and also eating and drinking coffees means a lot of illness that can be caused to you due to lack of inactivity that is why people decide to continue to work even after age of 60 so age will let them fill up their time, consume less eating and move at store if they decide to work at store or boutique all the day means less chance to get illness.

 

[Good luck]

The average age most people leave or retire from work is 70years but it also depends,If the worker has an underlined ailment he may be advised to retire early to avoid uncertainty.One can also retired from place of work before the mentioned age above if one has the privilege of relocating to another country probably for Greener pasture or to rest.

 

[Augusta]

The truth is that people just enjoy to be busy even at old age. I think this will be my story even at old age because I loof idleness. I believe even being busy is a lot worthwhile than staying idle. Idle life for me is very boring. I believe others are like this too.

 

[Josemendez]

For business owners they have the right to retire at the time suitable for them unlike when o e is working for a government body. The person should then look at his health condition and not his age when considering retirement. There people who may be old but still strong to carry out their business and some may be young but health wise they are not capable .

 

[Chibson]

As far as the business owner has still has ideas on how to run a business successfully in then there is no need of retirement. it is not easy for a 69 year old to start up a business and run it successfully for a very long time. What mattersis not the age as some people may say "age is just a number" and of course I believe in this saying.

 

[sincerem]

That shows no retirement age is set for an employer or an entrepreneur who is very eager to make more success on the business course. They'll be the one to decide when to retire, health issues is the only challenge they have which forces one to retire when unplanned. As long as an entrepreneur is fit enough without any health issues, he or she stays on.

 

[Godspower Gabriel]

As a business owner, the decision of when to retire can be particularly challenging. Unlike employees who may have a set retirement age or pension plan, business owners have to navigate various factors such as financial stability, succession planning, and personal goals when considering retirement. One key aspect that plays a significant role in determining the common age of retirement for business owners is the type of business they own and the industry they operate in.

In general, the common age of retirement for business owners varies depending on the nature of their business and their personal circumstances. Some business owners choose to retire early, in their 50s or early 60s, while others may continue to run their businesses well into their 70s or even beyond. The decision to retire often revolves around financial considerations, health, family obligations, and personal preferences or choice.