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Starting a business instead of retiring

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Older entrepreneurs may have the advantage over their younger counterparts due to experience and potentially greater financial resources. In 2012, Kauffman Ewing Institute found that those businesses that survived startup were more likely to have primary owners older than 45.

Another study found that people over the age of 55 are almost twice as likely to have started high growth startups than individuals between the ages of 20 and 34. That’s some positive news since for a number of reasons the number of companies started by people between the ages of 55 and 64 has grown from 14.3 percent in 1996 to 23.4 percent in 2012.

Whether it’s because they aren’t ready to retire yet or because they don’t have enough money for retirement and see limited earning opportunities for individuals over the age of 50, a growing number of older adults are looking to invest their time and money into something to call their own.

Here’s the link to a story on how being an older entrepreneur can be a benefit.

Here’s the link to the original story.

What do you think? Is the future ripe for the picking if you are an older entrepreneur?

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