There are days where I look forward to my retirement. Working 24/7 and taking care of the kids at the same time make you want to retire as early as possible. However, I have seen many retired people who long to work again.
Many retired citizens keep working after retirement because of their financial situation. Then, there are those people who are just bored with their vacations, sitting idly and doing nothing after decades of working every day. The days certainly get long and boring for these retirees.
That is the reason why retired people are stepping into their own business game and it makes perfect sense. When you are young, you have many responsibilities. You can’t afford to risk it all on business. But when you are old, you are free from those responsibilities. With the support of your other half, who’s also as bored as you are, it makes sense to venture into something productive as a retired couple.
Although starting your own business at this age can be a little intimidating, technology had made it less complicated. There are hundreds of websites available to offer you business-starting tips or design your own website. There are also name generating apps, like Namelix and Oberlo.
If you are someone who is retired or going to be retired soon and you’re thinking about your own business, then keep on reading!
The business rate of retired couples has dramatically risen in the past few years — thanks to technology which made starting a business very easy.
There are jobs other than babysitting and pet sitting that you can do from your home. These home-based businesses can be based on your hobbies. You can design and create logos for different companies or write slogans and catch-phrases for different products and companies.
You can share your talent and hobbies and charge other people for it. For example, if you like photography, you can teach others to take photos and sell your own photos as well.
At this age, you have the knowledge and experience which you can use to tutor others. You can teach them different subjects or prepare them for different tests such as IELTS, GRE, GMAT, and SATs through sessions at your home or online.
These types of home-based businesses give you flexibility as you can schedule these classes according to your availability.
Outdoor activities as a business
There are many outdoor tasks which can be shaped into a retirement business. House painting, home repair, machine repairs, and gardening are great examples. There are people who are willing to pay for performing their household chores, such as paying bills, shopping for groceries, carpooling their kids, and managing their taxes.
You can charge fees and personally do all their tasks or hire other people to do these tasks and manage them.
When you have spent a good amount of your life working, you get immense knowledge and experience on the subject. That makes you an expert.
You can use your expertise to guide others by writing manuals and books. Apart from educational and technical books, you can write stories you’ve always wanted to write. These stories can be based on your personal love story, memoir, any incident that took place or something fictional.
Since book writing can be extensive and very time-consuming, you can write blogs, articles, and reviews instead. There are numerous websites where you can sign-up for these tasks and get paid. You can also start your own website and publish your work.
Counseling and coaching
When you have accumulated experience, it becomes easier for you to guide newcomers through it. That is why after retirement, people start their own coaching business. You can see many old athletes now serving as a coach for the new generation. You can go to counseling as well.
You can set up a workshop at your home or any other place for different activities. You can set-up a workshop for sewing, stitching, hand embroidery, cooking, baking, painting, writing, crafts, woodworks etc.
As a retired couple with all the children moved out, you can do plenty of things with your home. If you live in the countryside, you can turn your house into a bed and breakfast. You can also turn your home into a local diner or bakery, depending on your interest.
It is not necessary for you to do all the cooking and cleaning. You can hire other people for such tasks. You can serve as cashier and manage it.
If you are fond of cooking or baking but you don’t have enough space in your home to convert it into a local eatery, there is always an option for catering. From neighbors to party planners, you can take orders and run a catering business from your home. You can also cook by yourself or hire chefs and look after accounts.
There are many people who require other people to look after their properties in their absence. These properties can be residential or commercial. You can manage the property owned by people or companies, oversee their day-to-day operations, collect rents, and pay for utilities and repairs. Even better, some employers offer to provide rent-free accommodation in the building, besides salary and other benefits.
These are some of the best retirement business ideas for retired people. By starting any of these businesses, you will be able to fulfill your dream of being a boss and running your own show. You can ask another retired couple who have their own business for some starting tips. You can also cordially start a business with other retired couples in your neighborhood.
Tell us in the comments, which of these retirement business ideas you liked the best and why?