The research work studied the impact of psychological characteristics and traits on entrepreneurial intention among pre-retirees in universities in Edo State. Information was elicited through the use of questionnaire and oral interview of two hundred and fifty (250) preretirees selected from public and private universities in Edo State. Findings revealed that preretirees have high psychological factors that can prompt startup at retirement. The high psychological factors only promote intention which is not sufficient to spur behaviour performance.