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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.

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