As the baby boomer generation approaches retirement age, baby boomer business owners are struggling to determine if they can afford to retire. Small businesses employ 47.1% of private sector employees, or approximately 60.6 million employees, according to the Small Business Association. With boomers owning 60% of small businesses and limited retirement options, the nation sits on a precipice of economic crisis. So, why can’t baby boomer business owners retire, what problems will that cause, and what can be done to fix it?Why can’t baby boomer business owners retire?To begin, let’s look at how much a business owner is likely to earn …
Why It Might Be Hard for Boomer Business Owners to Retire
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