As more Baby Boomers reach their 50s, the number of "seniorpreneurs" will continue to climb. By 2020, there will be 118 million Americans aged 50 and older – 31 million more than today. These individuals will be healthier and more active than today’s seniors. More significantly, Boomers will continue to define themselves by what they do. Therefore, many will not want to be “retired,” per se. In response, many of them will create new businesses, as well as new opportunities for other businesses that are savvy enough to market to them. This explosion of new small businesses will be crucial for keeping the U.S. economy growing during the demographically weak period from 2011 to 2022.
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