Monday, September 26, 2022
News for Independent BusinessDon't Retire - Start a New Business!

Don’t Retire – Start a New Business!

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Just because people are now living longer, there is not much sense in merely sitting around and letting the remainder of your life pass you by. Retirement today often has many retirees soon returning to work to escape boredom and loneliness. Since you likely have quite a few years of good health remaining, why not use it to be productive and start a new business – one where you control the hours and type of business? It can also be a valuable way to supplement your retirement income.

If you have retirement savings from a 401k, a Roth IRA, or an IRA account, you can take some of that money – possibly tax-free – and use it for a startup business. There are many ideas now available and some of them will take little money and will let you work as many hours as you want. Some new business ideas include:

Freelancing

The world of freelancing often lets you do the type of work you are already familiar with and lets you control the hours. While it may take a little time to get established, it can let you use your well-developed talents or you can launch into a new area. You can go into blogging, writing, editing, managing social media accounts, photographer, consultant, provide administrative support, be an illustrator, translator, transcriber, programmer, develop apps, customer service, nutrition consultant, tutor, develop curriculum, an ESL tutor – and many more.

Work from Home

Many businesses today let some of their employees work from home on a part-time basis. This saves them money as long as you do not work more than 29 hours per week because they do not need to pay for health insurance and other benefits.

Create Online Courses

You could also take your accumulated knowledge and turn it into a series of courses. This market is rapidly expanding and many online platforms cater to video courses that let you set the price. You can develop and sell them on sites such as Udemy, Teachable, Kajabi, Teachery, Ruzuku, and many more. Once they are made, this setup lets you make money while you sleep, and promoting it via social media can increase sales.

Pet Care

As you know, many people have pets. You can walk their dogs while they are at work, or offer to pet sit while they travel and are away. There is a large demand for this type of care and walking animals can help you get some exercise at the same time. If you have experience training dogs or grooming them, this increases the demand for your services.

Sell Your Products

If you are creative and can make a unique product, you can make money with it. You will need to take advantage of marketing and social media to promote it, but you can also sell it on consignment, go to flea markets, or sell it personally. Of course, you can also sell your products, or other products, online at places like Shopify and Etsy.

Be a Driver

Several companies are on the lookout for drivers to carry people or packages to their destinations. Companies such as Uber, Lyft, Roadie, Amazon, and more often let you work when you want and get as many hours as you want. If you are a trained driver, you could also drive school buses, limos, and transport vans.

There are many options for retirees to continue working and earn a part-time living with a business start-up or job. The extra money earned from a new business could also enable you to travel, do things you could not do before, and get other perks to make your retirement years more enjoyable.

Have a Tech Skill?

Advertise yourself on Upwork or Fiverr, pick up some part-time projects.  People all over the world use this, so the competition may be steep, but there is plenty of work to go around.

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