ZenBusiness Research Uncovers Gen X’s Entrepreneurial Spirit: 45% See Business Ownership as a Path to Retirement Stability
Gen X Considers AI Crucial for Streamlining Business Ownership in Retirement Plans
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 research1 from ZenBusiness, a company that provides an easy, all-in-one platform and trusted guidance for small business owners to start and run a successful business. The report, which gathered insights from 1,000 Gen X and Baby Boomer respondents aged 45-70 across the U.S., highlights 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.
“For many Gen Xers, retirement is no longer about stepping away from work—it’s about stepping into something new,” said Ross Buhrdorf, CEO and Co-founder of ZenBusiness. “As ‘Encore Entrepreneurs,’ they’re using business ownership to pursue their passions and create long-term financial security on their own terms, redefining what retirement can look like in today’s world.”
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Key Findings from the ZenBusiness survey:
“Reality Bites” for Gen X: Entrepreneurship as a Retirement Solution
Nearly 49% of Gen X respondents are eyeing entrepreneurship as a key component of their retirement plans, with 45% believing it will provide a stable financial future. Many Gen Xers are facing a retirement gap, with 49% unsure if they will be able to retire by 65, compared to more optimistic Baby Boomers. This financial uncertainty has prompted a shift in priorities from relying on traditional retirement savings to exploring business ownership as a viable path.
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.
AI and the Future of Retirement
The survey also revealed that technology, particularly AI, is playing a growing role in how Gen X views entrepreneurship. Thirty percent of respondents believe that AI can streamline business operations, making it easier to manage a company while still enjoying the benefits of semi-retirement. This confidence in AI not only reflects Gen X’s adaptability but also their positive outlook on the technology’s potential. They see AI as a valuable tool for integrating new advancements into their entrepreneurial ventures, further enhancing their business efficiency.
Since its founding, ZenBusiness has been committed to providing equal access to entrepreneurship through impactful partnerships and initiatives. These include Synergies Work, the only incubator in the U.S. that supports entrepreneurs with disabilities, Inmates to Entrepreneurs, which helps those judicially involved build sustainable businesses, and Lemonade Day, which offers young entrepreneurs hands-on business experience. ZenBusiness also proudly supports the Dallas Mavericks’ Mavs Business Assist program, empowering 100 diverse entrepreneurs with access to the tools and support needed to grow their businesses, including access to the ZenBusiness platform. Though previous campaigns like #MOMSMEANBUSINESS helped moms affected by the pandemic, ZenBusiness remains focused on fostering the success of all entrepreneurs. Since 2020, ZenBusiness has awarded $400,000 in grants to small businesses, reinforcing the company’s mission to support entrepreneurship and combat systemic inequality. Additionally, nearly half of ZenBusiness’ executive team and 51% of employees are women, setting a new industry standard for inclusivity and leadership.
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