Best Business To Start After Retirement – I was recently in a conversation with retired women. Some were very happy about their retirement; most of them were bored, depressed and lacking a sense of purpose. This motivated me to write this article.
Retirement is a huge transition in anyone’s life. From having a fixed work schedule for many years, you change to not having this routine that you have become so accustomed to.
Best Business To Start After Retirement
A retired lady said to me after a year of retirement, “I’ve done everything I set out to do. Now what?”
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I’m not talking about a stressful business that will take up too much of your time. Why else did you retire if you’re just going to be so busy again? I’m talking about a business that you’re passionate about and something you can do from home.
But why start a business? You can ask. Why can’t I just pursue my hobbies or do some projects?
✅First, you have skills that you can use to help others. Hobbies and projects are more for you than for others.
Being of help to others provides a sense of fulfillment that gives you purpose. What are your strong skills? You can be a coach or consultant who teaches others what you have been really good at. This involves so many fun things that you can do make a podcast, make YouTube videos, write a book – all related to your consulting business.
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If you don’t have a clue how to do this, ask your kids to teach you, do research, sign up for a class, or hire a coach.
It’s nice to have money coming in, even if you have your pension money. It gives you an extra sense of security. It doesn’t have to be the same amount you earned at your previous job, but something that will be a new source of income for you.
It takes at least 6 months after launching your business to see some results. That’s why you need to START PLANNING NOW so you can better prepare for it without rushing.
Yes, you can boost your self-esteem by going to the gym, joining a club, and even volunteering for your community. But there is something about having something that is you and yours that builds your self-esteem.
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Earlier in this article I explained that you need to focus on your passion and skills on the type of business you want to do. This is the YOU part. Anything that is unique will come naturally from you, and will therefore not be stressful.
YOURS because this business is yours. It’s your baby. Joining clubs and volunteering is not your thing. You are simply part of something.
And … going to the gym can make you look good and feel good, which is a self-esteem booster … but you and I know that having strong and solid self-esteem requires a deeper sense of fulfillment.
I would love to help you start your business, and like I said, the best time to start planning is NOW.
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I have an online business course that gives you the flexibility to study at your own pace and time. And you have lifetime access, which means you can go back to it at any time.
And … if you need more personal mentoring, schedule a free call with me so I can get to know you better. Having spent the majority of their lives in the workplace, the elderly are now looking forward to enjoying their much-deserved retirement. The transition to retirement is generally smooth when exit strategies and financial plans are laid out in advance.
However, to stay engaged and help grow their retirement funds, some retirees pursue the creation of passive income streams. Looking beyond the commercial aspect, passive business gigs can help retirees deal with boredom, create a sense of purpose and provide extra cash for travel and leisure activities.
There is a perception that generating passive income requires significant investment and extensive learning, which is true in the case of stock trading, real estate and lending. Understandably, many retirees are hesitant to take on these risk-involved businesses as side hustles because of the work intensity and economic volatility.
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This is why most retirees usually prefer risk-free, less demanding and decent income generating businesses. With that in mind, we’re giving you a few ideas for passive income that can be started right away.
Teaching online is an easy and rewarding passive income business that can be started right away. It’s simple – if you have expertise in a specific subject, then you can educate and help educate people.
You can simply compile videos and audio in a sequential manner and host them on online course platforms. Once you have the course ready, you can market it through social media or online communities. You get a stable income channel via student subscriptions and you can further increase your income by adding more valuable lessons to your learning community.
One-to-one live teaching is also growing exponentially. For example, there is a huge demand for native speakers to help train foreigners to learn their language. These classes are usually one-on-one, live virtual classes and may require you to work a certain minimum number of hours per week. You can find numerous live tutoring opportunities on freelancing websites or Craigslist.
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Publishing an e-book is a great opportunity for people who are passionate about writing. If you possess the technical clout in a particular niche or have the creative juices to come up with beautiful fictional narratives, then you can definitely consider launching an e-book. Once you put the initial effort into drafting, editing and publishing the eBook, you can sit back and reap the revenue stream without lifting a finger.
Unlike the old days, e-book distribution marketplace providers like Amazon Kindle and Nook have made creating online publications effortless and straightforward. After you finish writing your e-book, you can hire an agency or freelancer to edit and proofread the book (there are many websites where you can find freelance editors and proofreaders) and then you can publish it directly on the marketplace.
When working with marketplace service providers, you will be charged a royalty commission per viewing, please be sure to read all business and legal terms and conditions before signing up.
Pet sitting is one of the easiest ways to earn passive income. Just as the name suggests, pet sitting is taking care of pets when their owners are away for work or vacation. If you love pets and have experience handling pets, you can definitely consider this option.
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On sites like Rover.com, you can find plenty of pet sitting jobs in your local area. What makes pet sitting so desirable is that it requires no initial investment or significant work, and you can easily earn up to $50/day risk-free, although it is recommended to get pet sitting insurance to cover potential liabilities such as injuries to the pet, while you are on your watch.
YouTube is still growing rapidly, with more than 2.6 billion people using it every month, and it shows no signs of slowing down. If you are interested in content creation and social media, then you should definitely be a part of the YouTube stream. To get started, decide what type of videos you want to create and build progressive strategies for consistent growth.
You can see YouTube influencers such as Grand Illusions, Wendy Ida and Maarten Heilbron excelling on YouTube regardless of their age. It’s about content and delivery. Once you get the hang of it and become a notable influencer in a certain category, you’ll start getting brand promotion requests knocking on your door.
Utilizing your real estate for rental purposes is a great way to earn passive income. If you have a spare room in your home, you can rent it out on websites like Airbnb and host guests.
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Similarly, you can rent out your parking spaces, which is a huge demand in crowded cities. You can also rent out your garages to people to store items during temporary house moves and such. Renting out premises requires minimal setup and labor to get started. Get started right away by listing your spots on sites like Neighbor.com. You can expect a stable income without any hassle.
Stock photography is booming. You can sell concept images for commercial purposes and earn a decent income in royalties. All you need is a good camera and a reasonable knowledge of lighting and camera handling – which you can learn by watching YouTube videos.
Ideate new concepts and take professional photos yourself from different angles and outfits. Select the best photo series, add appropriate titles and add them to the stock photo marketplace. Some of the more notable stock photo marketplaces are Shutterstock, Getty Images, and Adobe Stock.
Stock sites usually charge a third of the sale price of a photograph as a commission. But once you put in the initial work of photographing, editing and posting your photographs, the royalties will continue to flow without further effort.
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Tool rental is a great way to make money from your assets sitting idle in your home. Whether it’s a drill, ladder or lawnmower, you can rent out your equipment and get paid instantly.
To get started, make a list of things that are functional but not often used. List them on rental sites like Fat Llama
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