texasjg
I'm hoping there are some business PhD students out there who can speak to this. I am 50, and am looking at returning to school to earn my PhD in I.T. or similar field. I have an MBA from Penn State, class of '88. I have 20+ years of experience in high tech, including senior/exec management roles, and a lot of start up experience. I was told back in my MBA days that I had PhD potential but I was too intent on making my MBA bucks at the time. Now I would like to reinvent myself, focus on research and teaching, and make a difference in the world of business. I understand that half or less of PhD candidates complete their program and dissertation, and it would be interesting to know why. I am not stuck on a top tier school, but would prefer a program that shares my interests, has professors that I can relate to and share interests with, and will allow me the freedom and support to explore my passions. I have found that "second best" organizations often try much harder, have better stipends, and more research opportunities. Fortunately, in Central Texas, I have a lot of options without moving. Comments? Opinions? My kids think this is a great idea, the spouse...not so much.
I think improving oneself at any age is a great thing. However, because of your age, the biggest obstacle will be money. You are looking at 3-4 years of no income, or very little income. Don't know what kind of money you expect to make aftewards to sustain your lifestyle, but the income for the first years will not be impressive. Figure you will be in your 60's before you start making decent money.
If money is not an issue then good luck and go for it!