The notion that entrepreneurship is solely a young person's arena is being robustly challenged, as the Wall Street Journal recently highlighted a surprising trend: individuals in their 70s are starting new businesses at record rates. Indeed, nearly 30 percent of Americans over 70 who are employed work for themselves — a figure that doubles the rate of those in their 60s.

So, why should the field of law be any different? With many senior lawyers feeling the push out of big firms due to mandatory retirement policies or a desire to pursue more meaningful work, the stage seems perfectly set for them to take the entrepreneurial leap into founding their own law firms.

Senior attorneys possess invaluable assets that younger entrepreneurs often lack. These include extensive networks across various industries, established reputations that open doors, and the kind of confidence that only comes with years of navigating the ups and downs of a legal career. Additionally, many are in a position of financial stability, free from the burdens of mortgages and college tuitions.

The potential areas of practice for these seasoned lawyers are not only plentiful but also particularly suited to their phases of life and the demographics of their peers. From estate planning and elder law to handling "silver divorce" cases and age discrimination disputes, the opportunities are ripe for those who can bring both professional acumen and life experience to the table. Moreover, fields like independent mediation and arbitration or specialized consulting in ethics and trial strategy allow these lawyers to leverage their expertise without the demands of a heavy caseload.

The integration of generative AI into the practice of law further enhances the prospects for older attorneys. Tools that handle routine tasks can alleviate concerns about stamina and technical proficiency, while the seasoned lawyer’s ability to discern reliable from unreliable AI-generated content remains an invaluable skill.

As much as it sounds like the setup for a sitcom, starting a law firm in your 70s is akin to a career reboot, providing a chance to practice law on one's own terms, informed by decades of experience. This isn't just a continuation—it's a new beginning, a chance to reshape one's professional life around the wisdom gained from years in the field.

So, for those in their 70s contemplating the next chapter, the message is clear: the time may be just right to start a law firm, turning the golden years into a period of professional renewal and personal fulfillment.