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About the Author

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Nancy Shonka Padberg

Ms. Padberg is a former Fortune 500 Times Mirror executive, Integrated Marketing Communications Vice President and MBA graduate from the Graziadio School of Business & Management at Pepperdine University. Ms. Padberg has over 17 years of publishing and marketing expertise, served on several boards, is a guest speaker, published author, former Big 12 golfer and resides in Santa Monica.

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Best Boomer Towns Columns

Baby Boomers Make Terrific Entrepreneurs

Baby Boomer entrepreneurs are resilient leaders, can leverage their reputation, draw from their network and experience and know how to respond to situations. According to Money and U.S. News, Baby Boomer's growth as entrepreneurs is partially due to financial need. While the U.S. unemployment rate among boomers was significantly lower (4.9 percent) than the national average (7 percent) in November, boomers suffered financially during the Great Recession, losing 25 to 28 percent of their median net worth, according to a 2013 study by Pew Charitable Trusts. The majority of people retiring today "do not have the financial means to underwrite 20 to 30 years of their lives," says Elizabeth Isele, co-founder of Senior Entrepreneurship Works, a nonprofit that helps seniors age 50 and older start businesses. But others, who may be in better financial shape, are becoming their own boss to pursue an occupational dream years in the making, she notes.

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