21. Retirees Don’t Hold on to Their Businesses
A Survey of Consumer Finance has found that as people get older, they’re less likely to hold on to their business. Only 8.5% of elders still own a business by the age of 75, though that figure changes to 13.3% for those between the ages of 65 to 74.
Business ownership is highest among people between 45 and 54 at 17.3%. As you can see, there’s a clear trend. It might be because by then seniors are confident in their savings to pass along the torch. Or it could be for many other different reasons such as health care or the need to kick back and relax.
