Not Ready to Retire? The typical age to start thinking about retirement is now the time to consider a move to self-employment.

These days, the 30s are the new 20s, and the 40s are the new 30s. But with the nation's 78 million baby boomers now entering their 60s at the rate of approximately 8,000 a day, the 50-and-older group has undergone a rather youthful transformation as well. What was once the typical age to start thinking about retirement has become the time to consider a career change -- particularly into self-employment.

Business ownership is a logical step for the mature work force, says MetLife Mature Market Institute executive director Sandra Timmermann, who cites incentives like having more control and flexibility in their lives; a desire to pursue personal dreams; or, less agreeably, a measure against age discrimination. "It seems an ideal time to launch out into something you've always wanted to do and even be a mentor to younger people," she says. "You know how to work smarter, and you really know what you want. You have experience and resources and may not be starting from scratch."