Many baby boomers choose to work beyond retirement age, with a significant number developing entrepreneurial ventures motivated not only by the attraction of supplementing their retirement savings but also by non-financial considerations.

Bulimba, Queensland -- (ReleaseWire) -- 05/31/2016 --According to a study published by Insured Retirement Institute in April 2016 only 43% of Baby Boomers are satisfied with their current financial position, with just 24% feeling confident that they can support themselves properly during their remaining years. An estimated 10,000 per day are expected to retire from now until 2030, by which time around 65% of the US population will be aged 65 or older.

Understandably both electronic and print media is full of stories and advertising about how to calculate the cost of retirement, and strategies to boost savings or cut the cost of living to make retirement feasible.

As a generation that redefined many aspects of society it seems inevitable that Baby Boomers will also redefine the concept of "retirement", whether that be because of personal choice or financial imperative.

Merrill Lynch, in their Work in Retirement: Myths and Motivations report suggest that many people want to work in retirement, for money but also for non-financial reasons; that they are seeking an engaged and active retirement that balances intermissions of career and leisure; and that many chose to reinvent themselves in an entrepreneurial venture.

For many people this will be the most significant career change of their lifetime. Many are seeking a "lifestyle business", one that enables them to live the lifestyle that they choose, whilst also providing personal challenge and financial rewards. Business activities balanced with periods of travel, family involvement and involvement in the local community is a scenario that is rapidly becoming the "ideal retirement" for many baby boomers.

These entrepreneurial ventures are as varied in nature as the individuals who undertake them. Using their skills and experience from past careers, coupled with learning new skills, many baby boomers are creating great businesses whilst creating a retirement income.

One such venture lead to a successful online business selling travel accessories that provide solutions to some of the irritations of travel. Clarity Travel Solutions' original product is an ultra lightweight foldable daypack that can be carried in a purse or pocket, then unfolds to a good sized daypack when needed. Ideal for airline travel, day excursions on cruises and day outings, this product was chosen for its ability to solve the problem of having to carry spare jackets, water and other odds and ends when traveling. The baby boomers behind this business used many skills from their previous work experience, but chose to learn about this form of business because it provided them with a genuine retail business that could fit in with their desired lifestyle.