At age 59, Lichty is more than twice the age of some millennial entrepreneurs. But with an uneven economic recovery, more Americans are taking the plunge into entrepreneurship later in life, according to recent data.
Most workers of all age brackets have experienced lower entrepreneurial activity in recent years, except for those ages 45 to 54. That group saw an increase, according to 2014 data from the Kauffman Foundation, which studies entrepreneurship.
The rise in entrepreneurial activity comes as America’s workforce ages. Nearly a third of workers over 50, and employees over age 65 outnumber teenage workers for the first time since 1948, according to a recent study by Aon Hewitt for AARP, the nonprofit membership organization for people age 50 and over.
The older workforce includes post-World War II baby boomers, born between 1946 and 1964. By 2020, 35 percent of the labor force will be over 50, according to the study for AARP.