[techmatters]

> Considering that most businesses fail within 5 years

Business closure rates (at least here in the UK) are around 10% a year. So although your statement is technically true (it would reach 50% after 5 years) these are not necessarily "failures", just closures, and many businesses last 20 years or more. I started 1 business in 1992; have had 3 others that I closed after 6 months, 2 years, and 6 years respectively. 2 were unprofitable, 2 were highly profitable. How does that skew the figures?

Entrepreneurship has never been a young person's game until recently. Older people have more cash and fewer liabilities - children have left home and mortgages are paid off - so have more financial flexibility.

Investing 12K from savings is no big deal when you are older and actually have saving to invest. And as for paying yourself - you have a retirement income.