Research & Data
Key data on America's retirement transition — the financial realities, entrepreneurship trends, and market opportunity behind the Retirepreneur mission.
The numbers tell a story most people aren't ready to hear. Tens of millions of Americans are reaching retirement age without enough savings. The traditional model — work until 65, collect a pension, coast — doesn't describe the reality most people in this generation are facing.
This page compiles the data that shapes the Retirepreneur mission. Use it to understand the scope of the transition — and why building a second-act business isn't a luxury for this generation. For many, it's the plan.
Population Trends
61.2 million Americans are 65+ today, representing 18% of the total population.
10,000+ Americans reach retirement age every day through 2027.
4.1 million Baby Boomers turn 65 annually through 2027.
30.4 million Baby Boomers will turn 65 between 2024 and 2030. All 73 million will be 65+ by 2030.
The 65+ population grew by 13% from 2020 to 2024.
By 2050, 82 million Americans will be 65 or older, representing 23% of the total population.
Retirement Security
52.5% of Peak Boomers have less than $250,000 in retirement assets. The median is $225,000. At a 4% withdrawal rate, that's $9,000 a year.
20% of Americans ages 50+ have zero retirement savings.
61% worry about running out of savings before they run out of life.
26% of Baby Boomers have less than $50,000 saved for retirement.
30% of Americans ages 50+ carry credit card debt exceeding $10,000.
39% of working-age households are projected not to maintain their living standards in retirement.
31% of retirees spend more than they can afford, up from 17% in 2020.
47 million households with older adults face economic insecurity, representing 80% of this demographic.
Small Business Ownership
Older entrepreneurs have twice the success rate of younger entrepreneurs.
52.3% of U.S. employer businesses are owned by people 55+.
Americans 55+ launch 25% of all new businesses in the U.S.
People aged 55 to 64 accounted for 22.8% of all new entrepreneurs in 2021, a share that has remained above 22% through the mid-2020s.
Those 65+ have the highest self-employment rate of any age group.
40% of small business owners are Baby Boomers.
74% of older business owners plan to sell or transfer ownership, and fewer than one-third have exit plans in place.
Employment Barriers
This is one reason a second-act business built around your own expertise is more reliable than continuing to compete in the traditional job market. You set the terms. No one can discriminate against a business owner.
64% of workers 50+ believe age discrimination exists in the workplace.
35% of employers consider certain ages "too old to hire."
14% of workers 50+ were denied jobs due to age.
Older workers experience unemployment periods three times longer than younger counterparts.
$3.9 trillion in projected economic losses by 2050 attributable to age discrimination.
Flexible Employment
15.6% of employed adults 55 to 74 worked from home in 2022, up from 7.7% in 2019.
Remote work contributed to a 10% increase in employment among older workers overall.
16% of remote workers are aged 55 to 64. Another 10.7% are 65 or older.
Overall U.S. remote work more than doubled from pre-pandemic levels. 13.8% of all workers usually worked from home in 2023.
Purpose and Engagement
60% of retirees believe the ideal retirement includes a combination of work and leisure, not full retirement.
Societal participation leads to a 4 to 8% uplift in perceived health among adults 55+.
More than one-third of older adults experience loneliness at least weekly.
34% of adults 50 to 80 reported feeling isolated in 2023.
Identity crisis and loss of purpose are identified as major challenges in the retirement transition, separate from and alongside financial concerns.
Market Opportunity
Workers aged 75+ represent the only growing age segment in the workforce through 2030, expanding at 6.7% annually.
The proportion of working retirees aged 65 to 74 increased from 21.4% in 2004 to 26.9% in 2024.
75% of occupations have become more age-friendly since 1990.
With 4.1 million Americans reaching retirement age annually and inadequate savings affecting 80% of older households, the market for second-act business support is not a niche. It's a generation.
You're Not Alone in This
Millions of professionals in this generation are navigating the same transition. Not enough saved, too much expertise to walk away from, too much life left to coast. The Retirepreneur newsletter documents the path forward, one month at a time.
Get the Free NewsletterStill Building.
Curt Roese, CPA | Founder, Retirepreneur | M.S. Entrepreneurship, University of Florida