Reaching retirement age usually means getting to kick back and enjoy all the activities you might not have had time for when you were younger. However, you might find that those hobbies, while engaging, do not take up your entire day and you start to think about opening your own business instead. You would not be alone in this venture, as seniors are one of the fastest-growing entrepreneur groups in the nation. You may even consider going back to school to get your mba as a part of this venture, and there are several advantages to doing so.
1. Fewer Time Constraints
While individuals enrolled in mba programs tend to be in their 20s, 30s, and 40s, going for a degree after age 55 may give you an edge over your younger classmates, especially when it comes to having spare time to study. After retirement, your time is usually your own and you can create your own schedule for attending classes and studying the coursework without feeling the pressure of raising children or working full time. You can take online classes at home for even more flexibility. Check out Maryland’s online mba in marketing to get started with earning your degree.
2. Networking with Younger Students
Your classmates may be younger; however, this can work to your advantage when it comes to promoting your new business. Networking with younger students might give you insights to current consumer trends and how to market to a younger crowd. Taking classes with younger people and talking with them on a daily basis may also result in more open-mindedness and help you gain a new perspective when it comes to dealing with future customers who might be of a younger generation.
3. Learning Keeps the Mind Nimble
The threat of degenerative diseases of the mind, such as dementia, increases with age. However, some studies have shown that continued learning can ward off these illnesses. Studying for an mba can be challenging and present you with opportunities to learn and retain a great deal of new information. As a result, your mind may stay sharper, even as you continue to age.
Your mind may also benefit from the social interaction you can experience while earning your mba. Talking with your classmates and professors about a variety of subjects, both inside and outside of the classroom, may ward off loneliness and feelings of isolation, especially if you live alone.
4. You Will Have Work Experience
UAB reported recently that some business schools are now requiring their students to complete an intern program or gain experience before they earn an mba. This may mean a delay in graduation while this work is completed. However, because you probably have years of work experience under your belt, you may be able to complete this requirement faster. It is important to remember, however, that these requirements may vary from school to school and discussing them with your mba sponsor or student advisor before starting your classes may be a wise choice.
Seniors are starting new businesses every day and creating a surprising new trend where retirement means the beginning of entrepreneurship. Earning your mba may give you an edge when it comes to running your new business and increase your chances of long-t