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☆ Boomers Are Selling Their Small Businesses; Millennials Are Buying
▼ + stars: | 2024-10-01 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +12 min

Sure, many small businesses aren't glamorous — think dental practices or accounting firms — and they involve long hours and unpredictable market forces. The US Small Business Administration said in July that there were nearly 35 million small businesses in the US. Fewer than two-thirds of small businesses in the US in 2022 were profitable, and over a million businesses of all sizes close each year. Traditionally, small businesses were family businesses, and the eldest male child was expected to take it over when the patriarch was ready to step down. Buying up small businesses allows people without wealthy boomer parents to cash in on the trillions of dollars of wealth the generation is sitting on.

Persons: George Coulam, Coulam, Forrester, Nancy Forster, Holt, Ernst & Young, Steve Holt, Shaw, Tenney, Paul, Helen Reagan, Forster, who's, Jennifer, Neil Gutekunst, Edie Ellis, Ellis, BizBuySell, you've, Dave Specht, Specht, they've, " Forster, She's, PwC, Norm Dinkel, Brian Brogan, — he's, hasn't, it's, Jennifer Gutekunst, boomer Organizations: Texas Renaissance, NewEdge Wealth, Ernst &, Shaw, University of Rhode, US Small Business Administration, Small Business Administration, Drucker School, Family Business, Claremont Graduate University, Wall, American Investment Council, Saint Joseph's University Locations: Texas, America, Sacramento , California, Maine, Orono, Chicago, Washington, Pennsylvania

☆ A financially independent entrepreneur says there's an overlooked but 'incredible opportunity' for young investors to buy businesses right now — and they're not as expensive to acquire as you may thin
▼ + stars: | 2023-11-19 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

He started with an "index-first strategy," he told Insider, and invested up to 80% of his earnings into low-cost index funds in the early 2010s. While index funds are ultimately what catapulted him to financial independence in the first place, he wouldn't necessarily go that route if he had to start from scratch today. "I'm still very pro low-cost index funds for almost everyone," he said. Lower returns mean index funds won't grow as much, and investors potentially have to save and contribute more to hit their goals. "I think business ownership is really where it's going to be for the next 10 to 20 years."

Persons: Grant Sabatier's, Sabatier, Charlie Munger, you've, boomer Organizations: Business, Fidelity, Federal Reserve, FedEx, SBA, Chase, Bank of America Locations: Morningstar

☆ '2023 is going to be one of the greatest years to invest': A millennial who achieved financial independence at age 30 shares his top investing advice as we head into the new year
▼ + stars: | 2022-12-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

Millennial Money founder Grant Sabatier thinks 2023 is going to be a great year to invest. A lot has changed since then, most notably the Covid-19 pandemic, which sent the stock market into freefall in March 2020. This year, however, stocks have been slipping again, recession fears continue to grow, and investors are increasingly scared of putting their money in the stock market. You can get really good deals on multi-family properties and on commercial warehouse space." His main takeaway is that, across the board, "there are going to be a lot of good deals and a lot of good value in 2023."

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