Baby Boomers — nearly 80 million of them in the U.S. – will redefine traditional retirement. The first boomers turned 65 in 2011, and year after year for the next 18 years, masses of them will choose to work beyond the ages of 62 to 65, the range long thought of as retirement time.
There’s been a lot of conversation lately about boomers and the ‘unretirement’ movement. In fact, AARP predicts that a whopping 80% of boomers will have to work into their retirement years. The vast majority of them will move away from high-pressure corporate positions to reshape their professional lives as small business owners, consultants, part-time workers or “giving back” careers such as teaching or non-profit management.
And what we’re seeing right now is the tip of the iceberg. The baby boomers are fueling the movement as many live longer, fuller, happier lives — and are seeking ways to make their investments last with them. Armed with a career’s worth of business experience, one of the options some boomers are turning to is self-employment through business ownership. That’s not only good for the boomers, but also good for a still-struggling economy. (more…)