The Silver Tsunami is Here
We’re witnessing the largest generational wealth transfer in human history unfold before our eyes. More than 11,200 Americans will turn 65 every day — or over 4.1 million every year — from 2024 through 2027, and with them comes an unprecedented business ownership transition that will reshape entire industries.
The numbers are staggering: Approximately 10 million Baby Boomer-owned businesses are expected to change hands in the next few years, representing a collective value of around $10 trillion. For business owners in this generation, the question isn’t whether to exit. It’s when and how to do it on their own terms.
Why Now is the Perfect Storm for Sellers
The Longevity Advantage
Today’s baby boomers aren’t just retiring anymore. They’re now embarking on what could be decades of post-business life. The Social Security actuarial tables indicate that a 70-year-old today could live for another 15.4 years, with many living well into their 80s and beyond. When the first Boomers were born, the average life expectancy was 63 years old. Today, Boomers can expect to live to almost 79 years.
This extended longevity creates a compelling case for exit: you’re not just retiring, you’re transitioning to what could be a 20-year “home stretch” of life. The financial foundation you build through your business exit will need to support not just a few years of retirement, but potentially decades of new adventures, travel, philanthropy or even new ventures.
The Energy to Enjoy Success
Unlike previous generations who often worked until their health declined, today’s boomers are exiting while they still have the energy and vitality to enjoy their success. The 60+ generation is more vibrant, active, and youthful than past generations. Many are redefining what retirement looks like entirely, doing things like choosing active lifestyles, pursuing passions they never had time for, or focusing on family and legacy building.
The Exhaustion Factor
The past few years have fundamentally changed how business owners view their relationship with their companies. The COVID-19 pandemic, politics, supply chain disruptions, hiring difficulties, and economic uncertainties have taken their toll. I am seeing that many owners have lost their passion for running a business due to these factors.
This isn’t failure. If anything, it’s wisdom. Recognizing when you’ve given your best years to building something valuable and choosing to step away while you can still enjoy the fruits of your labor is perhaps the smartest business decision you’ll ever make.
The Financial Reality: Your Business as Your Retirement Plan
For most boomer business owners, their company represents the majority of their wealth. Given that their business is typically 90% of their net worth, the succession of that business is an integral part of retiring. This concentration of wealth in the business can potentially be one of your greatest assets in retirement planning.
Consider the alternatives many of your peers face: Baby Boomers have an estimated median retirement savings of $194,000 as of late 2023, with 26% had less than $50,000 in retirement savings accounts and 10% had nothing saved. Your business, built over decades, could possibly represent significantly more wealth than traditional retirement accounts ever could.
The math is simple: Based on information from the Bureau of Labor Statistics, adults between ages 65 and 74 spend, on average, $48,885 a year. Using the 4% rule, that means that the average nest egg for this age group should be $1.22 million to last thirty years in retirement. Your business sale could provide this foundation and much more.
The Market is in Your Favor
Supply Meets Demand
The sheer volume of businesses coming to market creates unique opportunities for sellers who position themselves strategically. While some fear this will depress valuations, the reality is more nuanced. Approximately 75% of Baby Boomer-owned businesses are profitable, making them attractive acquisition targets.
Quality businesses with strong fundamentals, loyal customer bases, and proven cash flows will command premium valuations—especially when positioned correctly. The key is not just being profitable, but also being the kind of business that stands out in a crowded market.
Buyer Appetite is Strong
The market isn’t just flooded with sellers. There’s corresponding demand from multiple buyer types as well. Strategic acquirers, private equity firms, and entrepreneurial buyers all see this transition as a historic opportunity. 60% of boomer business owners are reported to be open to seller financing options, creating flexible deal structures that work for both parties.
Beyond the Business: Your New Life Awaits
The Freedom to Choose
Selling your business is about more than money. At the end of the day, it’s about buying back your time and energy. Many successful business owners have become prisoners of their own success, tied to daily operations and unable to step away even for vacation. Exiting gives you the ultimate luxury: choice.
You can choose to:
- Travel extensively while you’re still healthy and energetic
- Spend quality time with grandchildren and family
- Pursue hobbies and interests you’ve deferred for decades
- Engage in philanthropy and community service
- Start new, smaller ventures that excite you without the pressure of supporting your lifestyle
- Simply enjoy the peace of mind that comes with financial security
The Legacy Perspective
There is a category of Boomers who are already wealthy and don’t need to sell their business to retire. This is otherwise known as making a financial harvest exit. They are now looking at legacy stewardship-type exits. Even if you’re selling to a third party, you can structure the transaction to protect employees, preserve company culture, and ensure your life’s work continues to thrive.
The Generational Handoff
Perhaps most importantly, your exit creates opportunities for the next generation. The sale of these businesses presents a golden opportunity for younger entrepreneurs. Instead of starting from scratch, they can acquire established, profitable businesses with existing customer bases and revenue streams.
When you sell your business, you’re passing the torch to someone who can take what you’ve built and grow it further. This generational transfer of knowledge, relationships, and established systems creates value for everyone involved.
The Time is Now
With all baby boomers crossing the 65-year-old age threshold by 2030, the silver tsunami is forecasted to continue for the next decade. However, the most favorable conditions won’t last forever.
The businesses that exit first, while the market is still absorbing this transition, often achieve the best valuations and terms. Waiting too long means competing with an increasing number of similar businesses for buyer attention.
More importantly, waiting means potentially missing years of the retirement you’ve earned. Every year you delay is a year less of enjoying the freedom and financial security your business sale can provide.
Your Moment of Truth
You’ve spent decades building something valuable as a business owner. You’ve weathered economic downturns, competitive pressures, not to mention the daily grind of business ownership. You’ve definitely earned the right to step back and enjoy the rewards of your hard work.
The demographic reality is creating a perfect storm of opportunity in two ways: for you as a seller to achieve value for your business, and for you personally, to begin the next chapter of your life with financial security and the freedom to pursue what truly matters to you.
This demographic shift will happen—it’s already underway. The question is whether you’ll position yourself to take advantage of this once-in-a-lifetime opportunity while you’re still young enough and healthy enough to fully enjoy what comes next.
Your business was your past. Your exit can be the key to your future.
