Fremont: It might be that some of the late players, might be of the age of 55-65, in the field of startup will happen out of necessity that will not be able to find a job but still needs income, thus ending up in starting their own businesses.

But is it wise to launch a startup or buy a business at midlife? The experts are of the opinion that it is risky at any age, but for older adults, particularly those who finance their venture with savings and retirement funds, the stakes can be painfully high.

However, it is found that the age group between 55-64 years is the fastest growing among all ages in the startup game. Below mentioned are some of the opportunities that forces these midlife youths to launch their own startup.

Passion Into Profit

One of the most happiest and successful entrepreneurs are the ones that turn their passion into profit. It is important to figure out what is ones passion and then look for ways to turn it into a profitable business. Is it book writing, is it a woodshop, is it creating an e-book, is it writing blogs, or is it something else that you are passionate about and can continue with as a business? However, it is important to come up with all the pros and cons of the business magnitude before one starts to build a castle upon that.