Working in Retirement
Growth in baby boomer start ups a reflection of their mentality
While there may be a common perception that the world of entrepreneurs is dominated by the young, studies have shown that this is not the case. More and more statistics reveal that baby boomers are starting their own businesses faster than other age groups. Analysts believe the trend will continue into 2012, according to The Huffington Post.
Some of the most recent statistics show that this is a trend that has been going on for several years. Specifically, in 2008 there were twice as many entrepreneurs over 50 than there were under 25. Furthermore, the average age of male founders was 40, with females showing an average age of 41, HuffPo reports.
The fact that boomers, the group born between 1946 and 1964, are starting their own companies is not only indicative of their desire to work in retirement. It also represents their overall approach toward life.
"Part of the baby boomer mentality is to think younger and break out of the box as much as possible," columnist Steve Strauss told the website. "People are living longer and healthier. I'm not surprised that boomers are changing the way we look at retirement."
It isn't just entrepreneurs who are working in retirement. According to the Star Tribune, about 7 million American workers are at least 65.
You might also find these articles interesting.
The concept of a retirement test drive has become popular over the last several years.
There has been a considerable amount of news lately highlighting the fact that adults may have to wait longer to retire. It can be easy to see this as bad news, especially if you're of the mindset that retiring early is the ultimate goal.
The desire for an active retirement manifests itself in a number of ways. Although some older adults choose to travel and others may head back to school, many boomers are interested in working during retirement.
A fulfilling retirement can take many forms, and for many baby boomers that includes heading back to the classroom or taking on an encore career.