Texas man, 58, bet $430,000 of his retirement on a golf business — here’s what’s driving more Americans to take a big swing later in life

But for Roger Smith, starting his own business at 58 was a chance for him to call the shots and become his own boss.

“I wanted to prove to myself that I could run my own business,” Smith, who worked for 35 years at an engineering and construction company, told the WSJ.

Inside the $430,000 gamble on a golf business

Smith, who was a vice president before leaving his previous company, was nearing retirement when he decided to start his own business.

After assessing his finances in late 2024, Smith realized he and his wife, DeAnna, had enough saved to retire comfortably: their net worth is around $5.5 million, and $4 million of that is in investment accounts.

But at that time, retirement didn’t seem to suit Smith’s lifestyle. While he had grown tired of the long days at work, he realized his hobbies (mainly travel and golf) wouldn’t be enough to replace the routine that he thrived on. Smith also believed he could earn greater returns by investing in a business instead of publicly-traded stocks.

“I was not keen on putting another $400,000+ into the market that maybe keeps going up, who knows,” Smith told Moneywise. “The option of just putting the money in a money market or dividend ETF — low risk, low reward — seemed too safe.”

Enter Back Nine Golf, an indoor golf-simulator franchise with which Smith is now a franchisee. Located in Keller, Texas, Smith opened up shop in September 2025. And since the business doesn’t require him to work full time because customers are granted access to the facility via emailed passcodes, Smith doesn’t have to deal with the daily grind that he endured at his previous company.

Smith’s $430,000 upfront investment, which went toward the franchise’s fee, as well as renovations to the facility, wound up being less than 10% of his net worth, a factor that made him comfortable with the financial risk.

“I did significant due diligence before committing to the investment,” said Smith. “Yes, $430,000 is a large sum of money, but for me it is less than 10% of my net worth. Obviously, that doesn’t mean I am willing to just throw the money at anything, but the probable returns on the business investment are worth the risks for me.”

With the business’ first anniversary coming up at the end of September, Smith reports that revenue is already exceeding expenses. He’s now hoping to increase his income to $10,000 a month, which could allow him to recoup his $430,000 investment within the next few years.

“The business was profitable in the first month,” said Smith. “I’ve returned roughly 30% of the capital investment back to myself and my goal is to return all the capital in less than 30 months. After that, I will have a fully paid for business asset generating strong monthly cash flow that I can maintain or sell.”

Older Americans are starting businesses

As the WSJ reports, Smith isn’t the only older American to launch a new business in recent years.

Take Margo Clayson, for example. This 68-year-old launched her business, The Mighty Microgreen in Inkom, Idaho, after retiring in her late 50s. Her company sells kits for planting vegetables such as broccoli, alfalfa and speckled peas in small trays, allowing users to harvest the greens “within days to maximize their nutrient content.”

Clayson found the inspiration to start her own business after taking an online course that required her to create a business plan. Her motives, however, are fairly unique.

“My purpose is to get you to eat better,” said Clayson. “The money is secondary.” She told the WSJ that she’s now looking for a buyer for her business.

And then there’s Rob Perry, a 68-year-old from Warren, Vermont who launched his screen printing and embroidery business after retiring at 63.

When he realized that going for hikes and working on the house wasn’t enough to keep him occupied, Perry started thinking about purchasing a franchise. However, he didn’t make a move until his girlfriend presented him with an opportunity to buy a screen-printing and embroidery shop that had been in business for 30 years.