Money experts warn that it's a bad idea. But a steady flow of people past the age of 50 are funding new businesses and nonprofits with their retirement savings anyway--and having enough success (or fun) to brag about it. About a third of self-employed people over 50 didn't strike out on their own until after the big five-oh. These people say they'd rather be in business than in Boca, and they view their pensions and home equity as a lifeline to remaining productive and engaged after retiring.
Like many other late-in-life entrepreneurs, Richard Steckel, 65, waited a long time for a...