Boomers, Entrepreneurship, and Retirement 2030

a MiCDA Research Project Description

Investigators: Felichism W. Kabo, Philippa J. Clarke, Toni C. Antonucci, Jessica Faul, Lindsay H. Ryan

Funding: Kauffman, Ewing Marion, Foundation, 2015-2018 (20151697)

This study comprehensively investigates the predictors of entrepreneurship outcomes in the Baby Boomers demographic group. The term ?Baby Boomers? refers to the large cohort of 78 million people born in the United States in the post-war period and can be subdivided into Early Baby Boomers (EBBs, born 1948-53), Mid Baby Boomers (MBBs, born 1954-59) and Late Baby Boomers (LBBs, born 1960-64). EBBs are already entering retirement and by 2030 when LBBs become seniors, the number of Americans ages 65 and older will be over 70 million or 20% of the population. This is double the number in 2005 which represented 12% of the population (Institute of Medicine, 2008). While Baby Boomers have historically been active entrepreneurs, it is unclear how this trend will continue as they ?retire?. This question has major implications for the economy and the health of the nation given that an extension of entrepreneurial activities into retirement should moderate the projected consumptions of Baby Boomers with respect to Social Security and Medicare, and the expected caregiving burdens on families and society. We respond to the Kauffman Foundation call by proposing a ?big data?, systems-based study of the sociospatial (social and geographic, including network analyses) and biological (cognitive and genetic) factors that predict entrepreneurship in Baby Boomers as they age.

Research Signature Theme:

Economics of Saving and Retirement in the U.S.