Why Middle Age Is The Best
If I asked you what the average age of a successful startup founder was, what would you say? 25? 30? If you’re like most, you probably guess a number under 35.
Start up lore is chock-full of young guns who hit it big. While the legends of Jobs and Zuckerberg dominate our psyche and popular culture, the reality is different. The average age, according to research from the Harvard Business Review, is 45.
Middle age folks for the win! And that’s the average age, that means many are even older.
You probably don’t picture a 50-something year old guy or gal when you think “startup”, but maybe you should retrain your brain. Most people don’t see middle aged folks as starting things, they see them as “winding down” or “entering their twilight years”.
Well that line of thought needs to stop right now. Unfortunately, that line of thought is not only commonplace, it leads to age discrimination.
During FINCON in September I had some great conversations with two special women, Amy and Vicki from Women Who Money. They’re both around my age and they mentioned to me an unfortunate situation in which they were turned down to give a presentation at another event because – as the event organizers told them – they wanted something that appealed more to a younger audience.
Really? Too bad for the event organizers. This kind of mild age discrimination is all too common, and it was their loss. Amy and Vicki are just getting started on new ventures, and again, the data show they’re in their prime. Or maybe they haven’t even hit their prime yet.
Age Redefined
We humans are experiencing a renaissance of redefining age. Yes, phrases like “40 is the new 30” have become cliche tropes and admittedly overused and a bit eye-rolling, but in most aspects of life they’re also true.
In the athletic realm it’s been happening for a while. Do yourself a favor and read Younger Next Year, or Second Wind: The Rise Of The Ageless Athlete (affiliate links) if you want to hear real stories and get inspired.
Kristin Armstrong won the cycling time trial gold medal in the 2016 Rio Olympics at the age of 43! She blew away women half her age. In all sports athletes are pushing the boundaries and competing at the highest levels at ages that not too long ago were considered washed up, or even geriatric.
And it’s the same in other endeavors. Aside from the start up numbers mentioned in the HBR article, so-called “middle-aged” people are kicking ass and taking names all over the place. Check out this story from Jaleh Bisharat who started a successful company in her mid-50’s.
- A 50-year-old startup founder is 2.2 times more likely to found a successful startup as a 30-year-old.
- A 40-year-old startup founder is 2.1 times more likely to found a successful startup as a 25-year-old.
Many people ask 40 and 50 year olds when they’re going to retire, or what they’re going to do in retirement. The question they should be asking is “what are you going to take on next in life?”
Get Ready, I’m Coming
Me? I’m experiencing this renaissance too at a so-called “middle age”. If you’re a new reader to my blog you may not know that I ride bikes, a lot. I commute by bike to work two days a week. And I sometimes race too, both mountain bike and road.
This summer, in my late 40s, I had my best results ever. I got leaner, fitter, and faster than ever before. The hard work and discipline I put in paid off.
I broke my own personal records, or PRs, on most of the local hills in my area that I had set 5 years ago or longer. Back then, that guy in his early to mid 40’s was thinking “I’m kind of hot shit, and these PRs I’m setting are fast, I may never break them again. I’m only going to get older, so enjoy it now”.
Well, “younger Dave” , I just kicked your lame ass, you cocky little shit! And you know what, I’m not done. I’m not going to have those thoughts again. I’m not going to let my current self think this is the peak, and that it’s all downhill from here. No freaking way. I’m just getting started.
I’m throwing it down now – 2019 Dave, prepare to get your ass handed to you by Future Dave. Go ahead and eat your slice of humble pie now and get used to the taste of your own tears dude, because I’m coming!
I also started a graphic arts business two years ago that’s thriving and continues to grow. I have no dreams that it’ll become an empire, or even match my former W2 income. But I’ve learned that I have the talent and ambition to succeed in an endeavor that’s totally different from my former career. And I started it in my mid-40’s, right in that sweet-spot according to the data.
Your Next Act = Your Best Act
If you’re reading this blog, you might be striving to get to financial independence and ditch your W-2 job at an early age. And if you’re like me, part of your motivation to do that is to start something new. That could mean a new career, a nonprofit, or possibly a start-up that could change the world.
And the data clearly show that if you don’t get around to these big things until you’re in your 40s or 50s, then good. That’s the sweet spot!
Sorry to all of you seeking to FIRE by 30, but you’re doing it wrong. You’ll still have at least another decade of wisdom to collect before you hit your startup prime according to the data, maybe more. Sure, you’ll need more ibuprofen by then, but you’ll be able to afford it 🙂
Some say FIRE proponents lack ambition, or that they want to check out from society and not contribute. Total crap. Me, I’m just staring to kick ass in my business, and I plan to keep kicking ass at higher levels in my athletic pursuits and hobbies going forward.
I have more ambition than ever, and I’m just getting started!
*This article contains affiliate links. Using those links throws some change in my pocket at no additional cost to you. Here’s my disclosure.
Awesome! One of the gifts of my job is learning from my older patients. Some are still running regularly and skiing well into their 80s, which excites me every time I hear it. I had a patient yesterday who still travels the world at 91! I love those stories and am so encouraged by them. You’re only washed up when you want to be. And FinCon was stupid to turn down smart, talented middle aged women because that conference was attended by people of all ages, not just youngins.
“You’re only washed up when you want to be.” That might be t-shirt worthy… I’ll give you 10% of revenue 😉
And I will no doubt be one of those 80-something year olds, although I’ll be snowboarding, and still cycling of course.
I hope so! There’s lots of life to be lived. 🙂
I am 43 and about 10 years from my FatFIRE number, more or less. I want to ditch my W-2 to free me to do something else. I may work in some not for profit, I may write a novel. I am too busy learning new coding languages and techniques to commit to some stories in my head now. I may do something else. In truth, I will be freeing up my creativity to do something else that will likely earn me some money and a lot more satisfaction. That will be 50s me. I am starting to plant the seeds of that me now. When I was in my 20s and 30s I was still learning the world. I was very much in the mental shadow of my parents. They aren’t bad people but it took me time to figure out my own voice, to learn enough about the world to understand how I could make my best contribution.
Planting the seeds now is an awesome way to go, but I suspect as you plant those seeds you might look to harvest them sooner rather than later 🙂
Very inspiring especially for a late 40s guy like myself.
I remember seeing a commercial about Robert Mondavi starting his wine empire I think in his 60s.
As modern medicine improves people are living longer and are also more active as they get older too. Doing a new enterprise also has the added benefit of keeping your brain sharp.
Wow, didn’t know that about Mondavi, that’s amazing!
I just turned 50, and loving it! At 48 I managed to hike Colorado Trail in fastest female self-supported time – without aiming for it. Granted, I used to be a really good ultrarunner, which ended 6 years ago, and running is NOT even close to where it was, neither in speed, nor in distance. But it doesn’t mean I give up on being fit, for sure. In 40’s is when I got into my best shape. As I rounded a corner of 50, I did re-prioritize. I think I just calmed down, not that I can’t, I just deliberately slowed down. But I would encourage everyone to keep on kicking, for sure. And yes, those 70 yo who are at the top of the mountains, or 90 yo who travel, or even simply walk around the block – they are the true inspirations.
Holy schmoly, you’re the real deal! I’ve done all of the Colorado 14ers but would love to do the Colorado Trail too. I think women can carry high levels of fitness further into their 50’s and 60’s than men can, especially in long endurance sports. Kudos!
Fantastic
I ran XC in high school and am now 41 training for 5k end of Nov
I have always said I will never get back to my old times.
But you know what after this article I going to change my goals!
Thanks
Dude you can totally do it. One of my work colleagues keeps getting faster into his mid 50’s, and he runs low 6-minute miles!
Thanks Dave. This is exactly what I needed to read this morning. Cheers!
Glad it hit the spot!
Thank you thank you thank you! Needed this today!
I’m glad Tonya, keep at it and good luck coming back from that injury!
While my health will be going downhill at this point due to MS, my mental state just keeps getting better. I always had looked forward to turning 33 (for some reason.) And really, every year after 33 keeps getting better.
Sorry about your MS but glad to hear things keep getting better, thanks for stopping by Pete!
Great post, Dave! My husband started a company at age 50 and has almost 40 employees now (four years later). It’s weird being in our 50s ‘cuz it sounds kind of old but we don’t feel old. It’s like, “How are we already 54?”
🤔
Also, I love Vicki and Amy. Read Younger Next Year because of Vicki and have recommended it to others too.
See – perfect example. 40 employees is a lot, amazing! Yes, Vicki and Amy were party the inspiration for this and I hung out with them quite a bit at FINCON. They’re killing it.
as i’ve gotten older the best thing is the ability to stay calm and within myself. almost nothing rattles us in our house any longer as we’ve already seen so much. less excitable is good for starting something and being a leader. the list of stuff i just don’t care about gets longer every year two so it’s easier to focus on the things i do care about.
this was a good read.
Sounds like you found the stoicism muscles. Or you read “The Subtle Art Of Not Giving A Fuck”
Thanks for the kudos dude!
That’s very inspiring. Nice job getting better every year. Keep at it!
Thank you Joe!
I stopped caring about age over eight years ago when I started dating my fiance who’s almost twenty years older than me. At the time, we were bombarded by hoards of opinionated people about how we would never make it work with our age difference. “How will he ever keep up with you?!” Well, newsflash to these people, most of the time it’s actually ME trying to keep up with HIM. It was then that I realized our society is entirely too obsessed with age. Why should we use such a number to dictate what we can and can’t do?
I’ve witnessed my fiance achieve some of his greatest accomplishments in middle age, and it’s always made me look forward to being in my 30s and 40s. Life is beautiful at every age, and I appreciate anyone who chooses to focus on being present and reaching their full potential, rather than worrying about whether age is going to hold them back.
That’s awesome, and yes our society is too hung up on youth and beauty. Instagram culture isn’t going to help change that unfortunately.
I love having that mindset. While I’ve been tracking streaks, I really have not been doing any tracking for PRs when it comes to fitness. I really should! Think that would provide some great internal motivation. Be better than I was last year!
Streaks are great but PRs are where it’s at. Every time you beat a PR you’re by default older and faster. It’s the ultimate ego-boost!
You’re either putting me to shame or motivating me….having a hard time deciding! In either case you’re spot on.
I’m going to go with motivating for $200 Alex 🙂 Thanks for the kudos and get out there and crush it!
Great article. Very inspiring and I’m glad I came across this, definitely will follow you. I just turned 50, started a blog (salesparency.com) , have a better physique than when I was in college, and am building an Amazon business. Best parts of life are ahead. I hope everyone at this age takes that view.
I’m with ya, you couldn’t pay me to have my college body back, it was pathetic compared to my body now. Good luck with the new business and thanks for following!
At 17 years old cycled 200km in 8hrs when I was routinely road racing. Took up cycling again at 40, and at 41 cycled 220km in 7hrs and 40 mins…..not too shabby more kms and less time! And I thought I was fittest in my teens
Wow, that’s a fast time and you’re totally like me, getting faster. Kudos Martin!
Very well said. Nice job on breaking records and taking names.
Thanks Max!
It makes sense to spend time as an employee learning (essentially risk free and getting paid) the best practices in your industry. Then strike out on your own when you have name recognition and a solid reputation in your field.
Well said Kari!
Lots of factor contribute to doing more at middle age. One thing I wonder if diet comes to play as you get older. My wife and I eat more vegetables than before. I am 50 and still can play 5×5 basketball. I am a little slower, but I can still play. I always give 100%. We took up 5k running, go to gym 3-4 days a week. Next, we want to do pickleball. We feel more in shape and healthier than 10 years ago.
Great comment and I 100% agree with the diet part. I’m WAY WAY more disciplined than I used to be with my diet and keep getting better every year. Discipline is something that’s cultivated over time in many cases, and when I see clear results from a better diet it just spurs me on.
So true! Both the startups I worked for were started by people in their late 30s – both had been at it for over a decade and amassed many other failures to gain experience along the way. YCombinator, a famous startup investing firm, even publishes their entrance stats and they’re quite a lot higher than the “college dropout” you’d come to expect from Zuckerberg, Gates and Jobs.
If people with experience are seriously putting effort into something it so often stands out.
So true Adam, it’s all about putting in the effort, if you do that it’s likely to work regardless of age
Kinda remind me of the quote “it’s only too late if you’re dead.” We need to reframe what life looks like and when is awesome. Spoiler: it can all be an awesome age.
I like your spoiler 🙂
It makes perfect sense I guess — Middle age folks are more likely to have the necessary resources to form a startup. There’s also the argument that experience is useful too… but I don’t think you’d ever hear a 25 year old saying that.
While I’m not sure if I’ll ever form a startup, I do agree that life definitely has room for a second act. I’m hopefully mine is going to start soon!
Experience = wisdom. At least in most cases.
And get that act started!
Ultra Running is the new Mid Life Crisis 🙂 ….loved reading this last month.
I have set my longest runs, longest hikes, fastest runs and longest distances ever cycled in just this last year at 45 years old.
Rock on brother ! We got this
Instead of middle aged dudes buying stupid sports cars, maybe they’re now running 100 miles. Let’s face it, that would be a HUGE improvement. Keep at it man!
Great post! Especially relevant in the realm of “ok boomer” these days. Experience and wisdom are so important, but youth and energy is also important (and optimism). I wish I had the energy I had when I was younger + the experience and wisdom I do now (well I’m still in my 30’s).
I have way more energy now than when I was young but that’s mostly because I’m now a healthy weight. Being overweight brings your entire body down, brain and all…
I won’t be attending FinCon this year
Damn, looks like it’ll take a while before I get to the point that I’ll become the heavy metal version of Les Claypool on a spacecow drifting through the endless space.
Only 15-25 more years to go, more than double my age maaan.
Less serious notes aside, I see a lot of these things happen in various biographies of successful people in science/music. Some find the gaspedal too early, before they’re ready (like Kurt Cobain), and some find it when the time is right (Tina Turner?). I think people lack the wisdom when they’re in their 20’s-30’s, and have the necessary maturity somewhere end 30’s and beyond 40’s. Dunno, I feel like some kind of late b(l)oomer already, but those people seem to fare better in life than the early gaspedalists (think about those failed marriages and various other dumb mistakes which take years to repair).