The Silver Tsunami Revolution
A Wave Of Change Is Approaching: Intergenerational Collaboration
As the oldest Baby Boomers turn 80 in the next few years, a new “weather pattern” is approaching and fueling entrepreneurship for the next wave of business owners.
By 2050, the proportion of the global population of adults over 60 will double, and in the U.S., one in three young adults still lives at home with their parents. Combined with worldwide economic uncertainty, this situation may seem like the perfect storm, as touted by the influential figures of Wall Street and Washington, DC. The term “silver tsunami” is a common expression referring to the aging population; it sometimes takes on a doomsday tone when used to describe the burden seniors will place on the nation’s healthcare system and future generations.
I’ve been helping entrepreneurs achieve their dreams as Main Street business owners for more than 38 years, and I believe a new career revolution is on the horizon. I believe the forecast for our future has a silver lining as what I call a “Silver Tsunami Revolution” starts to emerge. The Silver Tsunami Revolution features a collaborative partnership between mature parents and their adult children. They’re seizing control of their destinies and launching businesses as a team. The concept of the Silver Tsunami Revolution is relatively straightforward: parents contribute their capital and experience, while young adults bring their audacious “let’s make it happen” attitude.
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