Starting a Business at 60: My Father's Story

https://thoughts.jatintiwari.com/pages/starting-business-at-60.html

by jatintiwari • 2 years ago

98 54 2 years ago

thoughts.jatintiwari.com

fuzzfactor• 2 years ago

If nothing else, after stability is reached on a retirement income, you may find that is the time you have the opportunity for action on projects and ventures under the most favorable terms of your life.

So many things that really do make money but were not worthwhile on shitty terms can come into reach, plus anyone involved can have no doubt that you're intending to make something happen sooner rather than later. Whether it's building a desirable acquisition target, or laying the valuable foundation for a growing institution.

globalise83• 2 years ago

That's very true: the opportunity cost of most business projects is effectively zero once you are retired, so you can pursue something only marginally profitable that you enjoy and it counts as a win. In fact you have a competitive advantage against a 40-year-old with a young family to support.

MrMcCall• 2 years ago

The corresponding quote to:

  Youth is wasted on the young.

is:

  Wealth is wasted in the hands of the old.

clauderoux2• 2 years ago

I reached 60 this year... So please give me a break with this idea that you are old at 60 in 2024. My mind is as sharp as it was 20 years ago... I have decided to train myself on LLMs after years of research in computational linguistics, the old way with grammar rules. And this experience in linguistics has proven so far quite rich as it gives me a different take on these incredible tools. This idea that you should do things according to some random number is basically how you end up in depression. Now I had a pretty confortable life, and I wouldn't dare speaking of people with construction jobs, where the body has been worn out by years of hard work. But for people with an office job, 60 is not that much of an issue.

james-bcn2• 2 years ago

Agreed. As someone in my mid-50's I find the attitude to many people towards age really bizarre. I've just got back from trail running in the mountains. I'm fitter and healthier now than I was in my mid-30s, and haven't noticed any kind of cognitive decline at all, in fact I think I'm much more mentally able now because I read a lot and so have picked up a lot of knowledge. The only noticeable change is now I have to wear glasses when reading. The secret, I think, is to keep developing and improving yourself, both mentally and physically.

sage76• 2 years ago

There's people who call themselves old at 30. I don't know if it is an excuse or what....but it's weird.

I know a 50 year old personally who finished ironman triathlon.

bachmeier2• 2 years ago

Yeah, the idea that you can't do something like this at 60 is just the rambling of someone that doesn't know what they don't know. Not as bad as the comments on HN that talk about cognitive decline at 40, but still badly uninformed.

sabbaticaldev• 2 years ago

old men yelling at clouds

nobody said they can’t. Statistics show they don’t do it the at the same rate so it’s an accomplishment when some do

yodsanklai2• 2 years ago

So please give me a break with this idea that you are old at 60 in 2024

Well, brain decline is documented and starts well before 60, but maybe we're not equal. I'm 50, and I can tell my mind isn't as sharp as it used to be. My memory isn't as good, and I feel complex mental tasks require more energy. It seems I've lost a layer of cache. That being said, I'm not done yet, I'm still able to do my job (SWE in a competitive environment where my colleagues are much younger).

Gud• 2 years ago

Have you been taking good care of yourself?

I imagine people who are staying healthy are more likely to have a healthy brain.

stoneman24• 2 years ago

While the decline is documented, there is much to be said for the more experienced employee. More knowledge about what is important in the domain rather than what might be the current fad.

In a competitive environment, certainly take advantage of your colleagues youth and inexperience.

The most problematic area is some people’s assumptions that you are too old to contribute. This might be misunderstanding or deliberate as they want less objections to their plans (or exploitations).

Being your boss might be an ideal solution.

tedggh• 2 years ago

Aging and cognitive decline is real. I do notice I don’t respond as quickly as in my twenties when presented with problems that require logical reasoning and abstract pattern recognition for example. This is usually not a problem because most of the tasks I execute on a daily basis don’t require these skills. But it is evident that the decline is there and I think it’s important to recognize it. On the positive side at this stage of my professional and social life I believe experience is much more important to succeed than sharpness of mind. However experience is memory and memory also declines with age.

lizzas• 2 years ago

Starting a business to give you energy is a great reason.

jjoe• 2 years ago

My old man is in his 80s. I run a small brick & mortar business. I figured I'd bring him in and keep him busy -- do him a favor and perhaps help slow down his cognitive decline. But it turns out I was the one who needed him around. He's meticulous with the bookkeeping and really good at crunching numbers with pen & paper. It dawned on me... they don't make people like this anymore...

DavidPiper2• 2 years ago

Slightly OT, but my opinion is they do still make people like this, our businesses just don't demand high-quality work as consistently as they used to, particularly for the kinds of work where software is marketed as the solution (across many functions).

busterarm2• 2 years ago

I think it's more like software is able to handle the cognitive dissonance of managing years of a company's books and seeing in plain numbers that they don't make any money and are just burning investor cash until the party ends.

tagawa• 2 years ago

He must be delighted to hear that.

set5think• 2 years ago

It’s really cool that you got to watch and recognize this change in your father; seeing it is one thing but then putting the pieces together to present this holistic story seems magical. Thanks for sharing!

kopirgan• 2 years ago

Frankly this is not entrepreneurship. Retried, sons settled, no financial risk. It's as good, as bad as signing up for another government job

Enterprise is throwing the last dime you have knowing if you lost it, it's the streets.

le-mark• 2 years ago

He got my father a job at a milk plant, working 9-5.

As a person who was raised on a small family dairy farm, when I read this I thought of cow milk processing like in the US; producing pasteurized milk, cheese, etc. But I have never seen milk or cheese in my limited exposure to Indian cuisine. So, maybe someone can enlighten me; what type of milk and how is it processed?

odux• 2 years ago

I have never seen milk or cheese in my limited exposure to Indian cuisine.

Indian cuisine is diary oriented to a point that while vegetarian food is super common, it is very difficult to find vegan food (especially North Indian food which is more common in the west). As a fun exercise try finding a local Indian restaurant and see how many of the dishes are vegetarian vs vegan. If you live in an area with a large Indian population, you may find Indian vegetarian restaurants locally - check their menu for vegan items. Milk consumption both directly or in tea is extremely common. Butter and ghee (clarified butter) is omnipresent in Indian cooking. Yogurt (locally called curd) and buttermilk (watery yogurt) is also widely consumed. Paneer, which is a kind of cheese made from curdling milk (very similar to tofu) is very common in North Indian dishes.

lotsofpulp2• 2 years ago

That comment flabbergasted me, lol. One of the few things popularly known about Hindus is many of them consider cows sacred. Although, technically, many in India will choose to use ox milk instead of cow milk since it is much richer/fattier (and I assume cheaper too).

dartos• 2 years ago

I highly recommend trying paneer masala. It’s delicious.

profsummergig• 2 years ago

Family dairy farm could be involved in:

- straightforward milk harvesting.

- paneer (a type of cottage cheese, and an Indian staple, the principle source of protein for vegetarians. when vegetarian Indians [in India, not necessarily elsewhere] mention cheese, this is "ackshually" what they're talking about).

- yogurt (called "curd" or "curds" in India. a staple that's eaten raw, or added to curries while cooking). Fun fact: till a generation ago, most yogurt in India was made at home (or in the shop in the case of eating establishments) using starter that had been passed down for generations. (if one branch of the family got thicker, tastier yogurt than another branch [from their starter], the first branch would share their starter with the second branch -- if they had cordial relations.)

lotsofpulp2• 2 years ago

The last point even made it to NYTimes:

https://www.nytimes.com/2019/02/26/dining/homemade-yogurt-st...

noisy_boy• 2 years ago

Seems to me that more than the age, it is about attitude. If you have a personal who is still curious at 60 and just working to stay active, you are getting a wealth of experience without the kind of nonsense that basically comes from having to take care of a family and the responsibility to raise kids. The upside (or downside, depending on the situation) is that you'll probably get more candid feedback.

VoodooJuJu• 2 years ago

I see several comments coming down hard on this man's suggestion that 60 is unusually old to be starting a business, but keep in mind that he comes from a different culture than you.

In my culture, as well as that of the critics, we agree that 60 is not old, and it's also quite normal to be starting a business at such an age. But his culture, which makes berth in Bengaluru, India, obviously has different expectations regarding age, and so that's why it's unusual (but elating) to see his father do this at such an age.

Just remember that, and cut him some slack.

matltc• 2 years ago

I often feel that I'm too old to make the pivot from finance to software development at 36 despite being utterly determined and passionate. Thanks for sharing

darcwader• 2 years ago

this was very inspiring to read. i am at 40. i tried a startup and failed about 4 years ago. not sure if i am up for another as its extremely difficult.

i felt i might be too old to try again and felt a little alienated from everyone i speak. everyone speaks about lot of things but feel everything is quote shallow and nobody understands what it takes. i keep having thoughts about what i could have fixed, what business i can try now. am little burnt out from tech and wanted to have a smaller non tech business but felt would i be able to or not. but reading about this gave me a sense of belonging or thought that there are some of us who are always not satisfied.

Starting a Business at 60: My Father's Story

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