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Why are boomer business owners hanging on to their businesses long past retirement age?

Census data show growing numbers of self-employed people working past retirement age as baby boomers age. Experts involved in sales of businesses say decision to sell is usually based not on age but on emotional factors or personal circumstances, such as ill health. Experts also suggest many owners find meaning in ownership and aren’t in a hurry to quit, while some can’t afford it. However, waiting too long to sell can hurt owners financially, experts say, especially if circumstances force the sale when timing isn’t right.