Have you ever considered turning your hobby or interests into an income? It may be easier than you think...
Why Business?
When planning for your retirement needs, remember - to be a happy, contented and a creatively-active older person, you have to make yourself a happy, contented and creatively-active younger person.
If you are about to retire - NOW is the time to step up to the plate and go for a creative homerun. Creative thinking before and during retirement is vital.
Some retiree consider working in order to make a little extra money, as well as having that sense of “doing something creative”. However, there are cases of retirees who want to work because they did not save enough money after retirement and present day of economic recession and rising inflation has forced them to earn their auxiliary expenses.
With the way economy is heading and the stock market continuously dropping,more and more people are beginning to fear how they will save up for retirement. Supplement your pension and/or government social security checks by creating a supplementary income stream that generates growing monthly revenue.
A survey of employers by the Center for Retirement Research at Boston College found that many companies have enough evidence to believe that a large portion of their baby boomer workforce is unprepared for retirement. In fact, employers believe half of their baby boomer employees, lack enough money to retire at the traditional age.
What type of business?
One after retirement definitely will look for a business that involves less physical activities
A business that can be operated from hom
A business which involves less capital invstment
Finally, a business, that is more like an enjoyment rather than a duty.
But remember...
Don't bet the ranch. Don'tb orrow a lot to start the business.Also try to avoid personal guarantee or a second mortgage.
Start a business which you know well. REmember, at the age of 65,you have very little time & energy to rectify your business decision.Instead, choose a busness that you know and you are confidant with.
Buy an existing business - as beacause it is established and less risky.
Another thought....Turn your hobby into an income source...
The Internet is a powerful tool for gaining personal and financial independence.The Internet has made it entirely possible for individuals to take a hobby and turn it into a small or home-based money making business. It is not a full-time business and with focus, persistence and determination, there is no reason why anyone should not be successful. Whether your hobby is bird watching, gardening, stamp or coin collecting, or simply sitting on a beach somewhere and watching people, there are a whole lot of like minded folks around the world that would likely be interested in your thoughts on the subject.
All you need is your brain and motivation.
Does home base business really work?
An example is Anguilla-Beaches.com.
This site was created by a teenage girl. Nori, a 14-year old student living in Montreal, was on a family trip on the Island of Anguilla and fell in love with the Island. On the way home, Nori asked her father, “hey dad, do you think I could build a Web site on Anguilla?” She then created a professional looking theme-based content site with professional navigation. This site automatically generates 1,000s of visitors a day… on Anguilla beaches. She incorporated a Finder fee relationship with a real estate agent in Anguilla. She refers her visitors to this real estate agent and has already received checks ranging from $500 to $4,000 in finder’s fees. She has incorporated Google AdSense which makes her over $500 a month. No more allowance for Nori! She builds new Finder fee relationships with boat charters, hotels, rental car agencies, etc. She sells Anguillan art and her own products at her site. She has over 3,000 subscribers to an e-zine she publishes monthly… all on Anguilla Beaches! Nori is now a celebrity on the Island of Anguilla… it’s true! Her site ranks in the top ¼% of all sites in the world at Alexa. Again… this is a Web site that was first created in 2002 by a 14-year old novice on a niche topic. MONETIZATION MODEL – Finder fee, Affiliate links, Google Ads.Remember.. what a 14 year girl can do, you also can do it being a retiree with matured thoughts and plenty of time in your hand.
As a retiree,you must be willing to put in some effort for your creative satisfaction.Selling your passion in internet is not a get-rich-quick scheme, and it won’t help you quit your day job overnight, but it is an effective way to generate a good bit of supplemental income, commonly a few hundred to a few thousand dollars per site per month.
Yes, I tell you from my experience...It is Possible.
Last words for home business after retirement
There are many such examples.Here’s a page where you can flip through a quick slide show of several SBI sites: Site Build It! Real World Samples.
To start with,I again insist you reading the book Make Your Knowledge Sell. It is FREE a 149 pages book.Take a print for serious reading. Writer of the book is Dr. Ken Evoy , a Canadian physician turned entrepreneur. He is a well-respected Internet Marketer throughout the world and has written numerous highly-acclaimed ebooks and is the creator of Site Build It, a revolutionary small business builder designed for retired seniors. Even if you don't want to use their system, you can get a lot of knowledge from these books.
