Starting a business in retirement
If you ask most people when they will retire, they’ll tell you they won’t ever retire. Most people today actually plan to bring income home forever. Some plan to have side gigs or to work as a freelancer or consultant, and some plan to start full-fledged businesses. What’s awesome is that there isn’t really a better time in your life to start a business.
Here are some businesses you can start in retirement:
* Financial Advisor – Depending on how you want to go about this, you may not even need new credentials. You can help young people and families set up their financial futures with sound advice.
* Consulting – Whatever you do now, you can do as a business owner, or as a freelancer, in a consulting capacity. If you’re an expert, especially if you’ve written papers or books, becoming a consultant is almost a no-brainer.
* Digital Marketing Agency – If you are experienced with marketing, you can start your own marketing agency. Digital marketing is a big thing today and if you have worked in this field a long time and have the experience, you can make an impact here.
* Real Estate – There are tons of things you can do in real estate that will be more hands-off, such as starting a management company to help people manage their rentals. Maybe you have a nice property and want to rent out portions for events or rooms in your home. Or you can invest in flipping or start bed and breakfast. Some retirees just like getting their real estate license and selling.
* Buy Something – You can also buy a business you are interested in that is already successful, and run that. Some businesses can run with absentee owners too. It’s totally up to you how you choose to run a business.
You’re going to be successful in whatever you do because you’ve lived a lot. You’ve experienced life. You know things that other people don’t know just by having been on the Earth longer than them.
You Know Who You Are
While there may be some retired individuals who still don’t know who they are, that’s not likely. If you are having issues about not being sure, seek some help through a business or life coach (or even counseling) so that you can become clear on who you are.
You Know What Hard Work Is
You’ve had a career; you know what hard work is. You’ve learned from others and know what to do and what to avoid. You’re ready because you have all this experience.
You Are Dedicated
Having worked your entire life until retirement, you are a dedicated person who can stick to something for long periods, even if it’s hard or not always fun. Having a business can sometimes be hard, and that is going to help you.
You Can Execute Your Plans
The thing that sets apart dreamers and entrepreneurs is execution. If you can implement your plans after you’ve done your due diligence, then you will succeed.
You Already Have Authority
When you’re retired and have lived a good life, you already experience some trust that someone in their 20s won’t automatically receive. For example, when is the last time you went to any type of financial advisor who was in their 20s that you trusted?
When you do decide to start a business at this age, it might be more enjoyable to find something that you truly have a passion for doing. Maybe you have a hobby that you’d love to turn into a business? Maybe you love your job now and want to start your own firm?
Whatever it is that you do, usually by retirement you are done with doing things you really hate, but you also know how to get through those things by outsourcing, delegating, or just scheduling it and putting your nose to the grindstone.