"Those who succeed [in their own business] must have the traditional character traits: willingness to work hard and unwavering commitment. But they must also have an extra high measure of creativity and a very keen understanding of their customer." - Amsale Aberra, "Why Now Is the Time to Start a Business," in The Wall Street Journal, August 25, 2014. Here you can read that article (sub. req.)
Baby Boomers weary of chasing after full time and part time jobs which never materialize might consider starting their own business. Fashion industry icon Amsale Aberra contends the time is good for that. Sure there are still obstacles such as a newly frugal B2B and B2C client/customer. But dealing with those challenges can beat applying to employers who don't want older workers.
There are many ways to become an entreprenuer. One is to research franchises and buy into one. Another is to find a group and launch an Internet business today. You might be peddling healthy dog food and have the heavy lifting such as delivery handled by a fulfillment firm. You might set up shop as a consultant.
Given this is the era of telecommuting, you can operate that business from low-cost locations such as Ecuador. There is a deluge of information, including regular newsletters like "International Living," which explains the ins and outs of downsizing expenses and becoming financially secure with a business overseas.
I now operate my communications boutique from the low-cost Southwest. I got there by first researching for three years emigrating to Ecuador, Spain, Costa Rica or Mexico. It turned out that Tucson, Arizona offered the low-cost of living I craved without the need to adjust to a foreign culture. I cut my lodging expense to less than one-fourth my gross income. My car insurance is one half. And vet bills are about one-third lower.
An additional perk is that there is no careerism in Tucson as there had been along the Northeast Corridor. The stress has been lifted.