The typical angel is often described as a wealthy, retired, former tech entrepreneur who regularly invests in other people’s start-ups. While a few angels look like this, the typical angel does not.

• Most angels aren’t wealthy. Estimates based on data from several sources suggest that the majority of angel investors are unaccredited investors.

• Few angels are retired. About two thirds are still working full or part time.

• The majority of angels live in two earner households.

• Most angels aren’t old. Surveys show that the odds that a person makes an angel investment peaks at between 45 and 54 years of age.

• Angels are more educated than the rest of the U.S. population, but one quarter of them have not graduated from college.

• Angels are no more likely to be experienced entrepreneurs than friends and family investors.

• Angels tend not to make many such investments, with a significant minority making just one angel investment in their careers.

Of course, the most successful angels differ from the typical angels.
But the typical angel isn’t a retired former hotshot Silicon Valley tech entrepreneur.

You can find out more about angels in Fool’s Gold: The Truth Behind Angel Investing in America