Starting a business is a great strategy for getting more work years in before you retire

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Among other reasons, it’s hard to get back into the traditional workplace after age 50 if you were forced out. Starting your own business puts you back in the driver’s seat.

In fact, with extra years under your belt, you have more of an edge than you think when it comes to starting a business, Hannon says.The 50-plus crowd has some advantages that don’t get enough attention.

Here’s what to keep in mind before you strike out on your own.

1. Two top qualities

People who got into the game a little later have more capacity in several areas.

No. 1: experience. “You’ve been through some ups and downs,” Hannon said. “You can bring some balance that a younger person can’t, who doesn’t have your world experience.”

Next, you likely have the financial cushion


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