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Boomer Execs: Blazing A New Path As Entrepreneurs | Investor's Business Daily
2 May 2014—Kevin Cahill, Center's Research Economist was mentioned on news.investors.com.
Win Smith left a 28-year career with Merrill Lynch, a company his father helped found, to turn around a failing resort in central Vermont's Green Mountains.
Smith, 64, is one of many later-in-life executives who put corporate America in the rearview mirror and opt to be their own bosses.
"Transitions into self-employment later in life are quite common," said economist Kevin Cahill with The Sloan Center on Aging & Work at Boston College.
Between 10% and 15% of Americans ages 51 to 61 who have had long-term full-time jobs make the change to self-employment, says Cahill. They offer useful insights for how older types can adapt and prosper in a testy economy.
Just prior to parting ways with Merrill Lynch in 2002, Smith became part owner of the resort Sugarbush as an investment.