Money Monday: Baby boomers going into 'un-retirement'

Money Monday: Baby boomers going into 'un-retirement'

BATON ROUGE, LA (WAFB) - A new trend in entrepreneurship is troubling for the baby boomer generation, but thrilling all at the same time.

Based off of Alyssa Dickey's educational background, her career might surprise you.

"I have a PhD in management information systems, an MBA; so not what you would expect of a chocolatiere," said Dickey.

Alyssa and her husband opened up Zocalisa in October. It is located near LSU's campus. They sell chocolate and gelato that is made right in the store on Burbank Drive. She left a job with Medicaid Managed Care.

"It is scary what you're talking about here is taking everything you saved up and hoping it's going to fly," said Dickey.

Her leap of faith is becoming more common, according to Ted Fireman with FranNet of Louisiana. But, he says many aspiring business owners don't make the jump.

"You got these older, retired people working at Lowe's and Home Depot for $10 an hour. And they were engineers; people making a six-figure income," said Fireman.

He says over the last three to four years, baby boomers have become the fastest growing segment of business ownership. Fireman attributes this trend to something he likes to call "un-retirement."

"The estimates are that 30 to 40 percent of all baby boomers are going to run out of their retirement money in the next five years," he said.

Many of them won't get hired because of the perception that healthcare costs will be higher for baby boomers, along with their salaries.

In Alyssa's case, the economy led her to a career switch later in life.

"We did everything we were supposed to do. We invested, we had rental property, bought a house," she said. "And then the bottom fell out."

She hopes her new business endeavor will help support her family through retirement.

"We hear a lot about all the young people that have the next great idea that is going to save the world, and the fact is, that it's older adults starting businesses.

"We just wanted to do something that would make people happy."

For a personal assessment of what kind of business you might be successful at opening, click here.

Copyright 2015 WAFB. All rights reserved.