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Baby boomers surpass younger generations in entrepreneurship 2010-05-10 According to a study published in 2009, the baby boomer generation dominates the entrepreneurial sector in the U.S. The study, which was conducted by the Ewing Marion Kauffman Foundation, reveals that businesses established by 55- to 64-year-olds outnumbered those of their younger counterparts by 16 percent between 2007 and 2008. "Older people need to make more money than they did before and their chances of finding traditional employment are restricted, so more of them get pushed into entrepreneurship. Or they just find it attractive," Baruch College professor Edward Rogoff told MSNBC. While some may create business start-ups as a way to supplement retirement income, others turn longtime hobbies or passions into second careers, reports MSNBC. John Olson, a former assistant manager at a Publix grocery store chain, turned his hobby of carving table-top fountains into a $2 million dollar venture after retiring early, he told MSNBC. Many retirees find themselves with a great deal of time on their hands after they leave their jobs. Finding a hobby or activity to stay occupied, whether it makes money or not, is a good way to enjoy retirement.  |
