With people living longer lives and modern medicine making it possible to live happy and healthy lifestyles well into your 70s, 80s, and even 90s, lots of retired folks aren’t about to hang up their working-life spurs immediately after retirement.
Some Great Businesses to Build at Home Post-retirement
According to a recent article, while lots of people can’t help but look forward to “the lazy days of retirement,” lots of others are either not about to put a stop to the working life they simply crave being active. But there are also people who need the money.
Here’s the sad reality of working a regular 9-5 job post-retirement. It’s not only unappealing to lots of persons aged 62 and up, but these jobs are hard to get since ageism in the workforce is rampant. What’s the solution for retirees who simply need to make some much-needed cash? One great answer is to apply for a reverse mortgage loan.
If you’ve lived in your home for decades and have been paying the monthly mortgage religiously, then you can tap into all that equity you’ve built up and turn it into monthly payments or even one giant lump sum payment.
What’s even better is you don’t need to pay a single dollar on the loan until you either move out of your home or the borrower passes away.
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But do your own research to get a good sense of reverse mortgage pros and cons, and then speak with a financial advisor.
But what about those of you who not only wish to make more cash but also want to stay busy in your golden years? Very busy, in fact. You might then want to consider starting up a home-based business.
This kind of venture not only makes you money, but it allows you the flexibility and independence you never would have enjoyed by “working for the man” with a traditional job.
Home-based businesses can be operated from anywhere in the world, which means if you’ve always dreamed of retiring to Italy or Spain, you can do so while earning money. You can even run a home-based business out of an RV.
Here are just a few home-based business ventures that make use of what retirees love to spend their time doing and that can earn them some nice cash from anywhere in the world.
Coaching and Consulting
Now that you are well into your 60s you’ve been around the block more than a few times, you can put that knowledge and skill to work by beginning a home-based consulting business. You can coach and/or consult via Zoom or Skype, or you can pay on-site visits to clients working nearby.
You can coach individual clients or entire business teams if you so choose. Your pitch to prospective clients should be to improve their productivity and, at the same time, develop new strategies for communicating better with coworkers and with management.
In the end, the more money you make for your clients, the more you can make.
How do you start a consulting business? Just give your former boss and/or coworker a call and start a conversation that will pique their interest.
Writing, Blogging, and Influencing
Most people have smartphones, and they use them both for entertainment and for information in the form of written content. By giving the people what they want in the form of a blog you can make cash by monetizing it via affiliate marketing.
Or you can become an influencer by writing mini-blogs on Instagram and other social media sites on behalf of certain products and services.
If you’ve lived a rich and fulfilling life you can write entertaining stories about retired life, or travel, or cooking for foodies, or your passion for the Jeep off-road life. Anything is up for grabs so long as the content is interesting.
In a word, there is no end to the topics you can write about in a monetized blog.
Perhaps you don’t want to spend the time building up a blog that will require a year or two before it starts making you money.
In that case, if you’re a good enough, professional-grade writer, you can work part-time or even full-time for online media outfits, influencers, blogs, and ghostwriting businesses that will pay well for good and interesting content.
Go online to find a list of these paying markets. Don’t forget to start a LinkedIn page that will espouse your writing skills and credentials to potential employers.
Perhaps you’ve been looking forward to writing a great novel now that you have the time. Or perhaps you wish to start a mystery series.
While the traditional publishing system in America is experiencing a rapid decline with the consolidation of what’s left of the major publishers (just four as of this writing), you can easily get your books to market via digital self-publishing platforms like Amazon Kindle Direct Publishing and/or Draft2Digital.
Just make sure you hire a terrific editor, formatter, and cover artist so that your work is professionally presented to potential paying readers.
If you possess a specific skill set, you can turn it into a home-based business. In fact, it’s said to be one of the fastest and least costly methods of starting a new business venture.
These skills include, but aren’t limited to landscaping, painting, bookkeeping, writing, blogging, driving, Jack/Jill-of-all-trades handyperson, and so much more.
Just simply spread the word via social media and you’ll have the money-making work you’ve been seeking in your retirement years in no time.
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