The U. S. economy made history at the end of July by sustaining the longest expansion period on record. While the benefits of this prosperity have impacted all different groups and demographics, the benefits to our American senior population in particular are considerable. Here are several ways U.S. economic growth is enabling citizens over 55 to drive even greater economic success.
1. The U.S. continues to offer the best environment for entrepreneurs. According to the 2018 FreshBooks report, an estimated 27 million Americans will leave the traditional corporate workforce in favor of full-time self-employment by 2020. Kauffman Index of Start-up Activity has found the highest rate of U.S. entrepreneurial activity is currently among the 55 and 64 age group. Rising life expectancy, insufficient retirement savings, as well as desire to maintain productive activity are all playing a role.