A Balanced Look at Self-Employment Transitions Later in Life

Public Policy & Aging Report, 2014

Posted: 19 Aug 2015

See all articles by Kevin E. Cahill

Kevin E. Cahill

Boston College

Joseph F. Quinn

Boston College - Department of Economics

Date Written: November 1, 2014

Abstract

One partial solution to the strains of an aging society is continued work later in life, and self-employment is one way that some older Americans have chosen to remain in the labor force. The individual and societal benefits of continued work are straightforward: each additional year that retirement is delayed is one additional year of earnings and possible savings and one fewer year that assets are spent down. Further, continued work later in life has been shown to maintain or improve the physical and mental health of older workers. Looking ahead to the increasing effects of societal aging and a challenged labor market, and with the perception of intergenerational job competition, is self-employment a partial solution to both societal aging and a stagnant economy? In this brief article, we document some of the policy issues surrounding transitions into self-employment later in life.

Keywords: Self-employment, Economics of aging, Partial retirement, Gradual retirement

JEL Classification: J26, J14, J32, H55

Suggested Citation

Cahill, Kevin E. and Quinn, Joseph F., A Balanced Look at Self-Employment Transitions Later in Life (November 1, 2014). Public Policy & Aging Report, 2014, Available at SSRN: https://ssrn.com/abstract=2645827

Kevin E. Cahill (Contact Author)

Boston College ( email )

Chestnut Hill, MA 02167
United States

Joseph F. Quinn

Boston College - Department of Economics ( email )

140 Commonwealth Avenue
Chestnut Hill, MA 02467
United States

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