Key Financial Factors for Boomer Entrepreneurs
Starting your own business could improve your retirement security, but going solo also poses specific personal finance challenges for older entrepreneurs, says Morningstar columnist Mark Miller.
Mark Zuckerberg is the world's best-known entrepreneur--a poster-child for success who started Facebook (FB) in his Harvard dorm room. But the ranks of entrepreneurs include plenty of poster children who aren't kids.
Baby boomers have racked up the highest rate of startups during the last decade, according to the Ewing Marion Kauffman Foundation, which is devoted to entrepreneurship. Even among technology startups, Kauffman research shows that the average age of company founders actually is 39--and that twice as many are over age 50 as are under 25.
Mark Miller does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.