According to a recent client survey by Guidant Financial Group, 80 percent of new small business clients are between the ages of 40-60.
“In the past 12 months, many baby boomers have been downsized and most have suffered huge losses in their retirement savings,” explains David Nilssen, co-founder of Guidant Financial Group. “The economic woes have wiped out trillions of dollars in retirement savings and many excellent workers have been downsized. This environment is providing boomers a lot of motivation to evaluate other options and pursue things such as small business ownership.”
Of these small business and franchise owners, nearly one out of four new business owners are investing $100K-$150K of their own retirement funds into a new business.