Pending business sales are building as baby boomers, ages 49-67, enter the twilight of their careers.
First gradually, and then in a flood, mind-boggling assets from the sales will surge to heirs, savings accounts, luxury cars, vacation homes, pet philanthropic pursuits and anything else the generation fancies–reconfiguring the economy.
Business brokers and estate attorneys thought the sales would begin in earnest nearly a decade ago. But the baby boomers, lulled into complacency by the hot economy, lingered to eke out more profits and keep themselves employed a little while longer.
Then the recession, hardly anyone predicted, rudely swept away some of the businesses, and the surviving owners fought to keep their doors open as they watched the value of the businesses dive. Many borrowed heavily to stay afloat.
Today, conditions to spark the long-anticipated wave of sales are turning favorable because: