ZENBUSINESS STUDY:
Gen X Redefines
Retirement with Business Ownership
Unlike previous generations, Gen X is approaching retirement with a more proactive and entrepreneurial mindset. Nearly 40% are likely to start or have already started a business, not just as a way to fund their retirement but as a means to redefine it, according to new research from ZenBusiness.
ZenBusiness Survey Key Findings
Entrepreneurship Emerges as Gen X Answer to Retirement Anxiety
A recent survey conducted by ZenBusiness reveals a significant shift in how Gen X approaches retirement, with 40% of respondents indicating that they are either considering or have already embarked on entrepreneurial ventures. This move toward business ownership is not only seen as a means to fund retirement but as a way to redefine it, blending financial independence with personal passions.
With nearly half of Gen X respondents unsure if they can retire by the age of 65, the traditional retirement model is evolving, as entrepreneurship offers them flexibility and security.
AI and the Future of Retirement
The survey gathered insights from 1,000 Gen X and Baby Boomer respondents aged 45-70 across the U.S., highlighting the growing challenges these generations face in achieving their ideal retirement. With 43% of Gen Xers viewing entrepreneurship as a way to maintain financial independence, they are creating a more purposeful, flexible retirement that blends work, passion, and leisure. This shift highlights how Gen X is challenging traditional retirement norms by integrating business ownership and technology, such as AI, into their plans.
The Growing Income Disparity and Its Impact
The survey highlights a troubling income disparity: while higher-income earners are more likely to retire earlier, middle-income earners ($50K-$100K per year) continue working, with 25% planning to do so during retirement. Entrepreneurship offers Gen X a path to financial security, especially for those in the middle-income bracket, who are most likely to feel the pressure to delay retirement.
Methodology
This sample of 1000 U.S. members aged 45 -70 were surveyed using Pollfish on June 16, 2024. All respondents have given at least some thought to their career, confirmed by user self-confirmation. No post-stratification has been applied to the results. For complete survey methodology, please contact press@zenbusiness.com.
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