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Challenges Turn Baby Boomers to Entrepreneurship

Gone are the days when older entrepreneurs were mostly people who had finished good careers and were just looking for the freedom to do something different, said Fred Dawkins, author of "Everyday Entrepreneur."

Some of the increase can be explained by demographics: As baby boomers age, they account for a greater share of just about any pie. Also driving the increase are stubbornly low rehire rates for jobless older workers.

"Right now we're dealing with more people who are doing this out of necessity because they've been forced out," Dawkins said. "A lot of people in their 50s are out on the street, and they have to make a living."

"This is an opportunity for people to invest in themselves instead of the stock market," said David Nilssen, chief executive of Guidant Financial, the company Jones hired to help file the paperwork to operate her self-directed IRA. Nilssen said his business is expanding as the economy improves.

Read more: http://articles.chicagotribune.com/2014-07-10/business/sc-cons-0710-journey-20140710_1_boomers-business-startups-stock-market

 

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