Once upon a time, people retired with a gold watch, a party and thoughts of leisure activities dancing in their heads. But the truth is, most retirees today find that they have underfunded this time of life. What does the older generation do when they’re strapped for cash?
Perhaps a cruise was in the works, and golf games penciled in on the calendar. Plenty of time for all those books waiting to be read. Visits to grandchildren and leisure travel anticipated. How many people include Ways to Earn Money on their retirement wish lists?
An article by Susan Ward (12/27/2017, Best Business Opportunities for Retirees – the Balance), states what many seniors discover, “Retirement is expensive”.
Options for Earning – Home-Based Businesses
Hobbies, interests and experience fall into this category. Is there something you love to do? Something you’re good at? Crafts, needle art, woodworking, painting – pictures or walls, fixing cars and/or appliances, cooking/baking are all skills that can be turned into home businesses. The list goes on:
- Chauffeur – drive people who no longer can or wish to drive a car.
- Child care – a few hours or all day.
- Pet walking/sitting – your house or theirs. You and the dog both get some exercise.
- Tax and budget services – you may need training and you could work for an established company instead of starting your own business.
- Tutoring – some credentials may be required, but you could decide what subjects you wish to teach.
- Teaching – there are many opportunities for adult education. Foreign languages, English as a second lnguage, any subject in which you have considerable knowledge. Sports – golf, tennis, etc., speciality foods, quilting, embroidery, needlepoint – and the list goes on.
As a matter of fact, retirees have an edge on creating streams of income. We have experience. Every one of us probably could set up more than one small business and start the cash flowing. The internet is loaded with websites and ideas for throwing your hat in the ring.
Write a business plan. You need to have goals. Join the Chamber of Commerce for information and support.
Check the market. What are people talking about? Find a need and fill it.
Do what you like and what you’re good at. This should be pure joy, not drudgery.