Chia-Li Chien, PhD, CFP®, PMP®

Research by Dr. Azoulay at MIT and the U.S. Census Bureau which studied 2.7 million start-up founders showed more founders over age 50 compared to over age 30 had successful exits from their start-ups. Success was defined as exiting through IPO or acquisition and employment in top 0.1% five years from inception. The author points out that some articles on the subject may have misconstrued the research to encourage older entrepreneurs to form start-ups and to use their retirement assets for funding. The author shows that while age contributes to industry-specific experience and market knowledge that may indicate future success, many factors contribute to firm success. But there are other ways that start-up founders exit from their firms regardless of age including death of the firm from which loans cannot be recouped. Start-up founders should seriously consider the consequences of spending down retirement assets to fund a start-up in their 50s.

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Chia-Li Chien

Assistant Professor and Director of Financial Planning Program at California Lutheran University School of Management

Chia-Li Chien, Ph.D., CFP®, PMP, is a Succession Strategist of Value Growth Institute, dedicated to helping private business owners increase the equity value of their firms. Dr. Chien is also Assistant Professor and Director of the Financial Planning Program at California Lutheran University. She is the award-winning author of the books "Show Me the Money" and "Work Toward Reward." Dr. Chien can be reached at jolly@chialichien.com.

Latest posts by Chia-Li Chien (see all)

• Do-over Exit? - May 14, 2019
• The Future of Financial Advising - April 24, 2019
• Show Your Love in Social Security Claiming - April 23, 2019

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