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What Everybody Ought to Know about Unretirement and the Future of Entrepreneurship

July 22, 2019 / Barry Moltz

Retirement is a word that for most first-time entrepreneurs seems very far away. But strikes panic in those people that are older than 55. However, no matter how you look retirement, it is now changing as the definition of work is evolving. On this week’s Small Business Radio Show, we talk to Chris Farrell, a senior economics editor to NPR’s Marketplace. Farrell discusses what retirement looks like for small business owners. And how this picture is rapidly shifting. He explains that about 10,000 baby boomers will celebrate their 65th birthday every single day from today until 2030. In just over a decade, more than 21 percent of the U.S. population (about 73 million people) will be past the traditional retirement age. Additionally, by 2035 there will be more people 65 and older than 18 or younger. Because people are living much longer, it has become very difficult to save enough to live on for 25 more years without additional income.