"An engineer needs to spend his 30's preparing to start his own business"
I agree. Like many fields, an engineer in his 40's cannot compete with the younger, sharper minds of engineers in their 20's. That doesn't mean they are unemployable, it means that they take their experience and perspective and evolve.....starting your own business is definitely one of those options.
Of course, the days of lifetime employment are over for everyone, not just engineers, one should be prepared for change no matter what your age.
Those who came to this realization a little late are quite apparent on these threads.
It is stupid to invest money, effort and time into profession which is good only when you are in your 20's. Much better to be a lawyer, doctor, teacher etc - in these fields you can be making career your whole life.
starting your own business is definitely one of those options.
People who are good material for engineers often are not good for businessmen or salesmen. And you do not need to finish college or to be expert in technology field to be successful in business. Don't we know some famous examples for that? :)