There aren’t many seniors who don’t look forward to retirement. However, some seniors are not as fortunate as others when it comes to early retirement. With the average Social Security check being $1,430, it makes the cost of living more difficult for seniors who solely rely on their Social Security check. Many seniors retire then decide to return to work. But, instead of going to work for someone, many seniors are starting home businesses in retirement. If you want to have continuous revenue in retirement, here are six home business ideas to start after you retire.
- Start a blog
If you enjoy writing, launching an online blog is a great business idea for retirees. A blog is a website or webpage that discusses various topics, which can be conversational or formal topics. Many seniors who have a specific passion base their blog around that passion. For example, if you enjoy baking, your blog could discuss the different baking methods and tips and tricks on how to be the best baker.
Freelance writers will flock to your blog and ask to have one of their articles featured whenever you own a reputable blog. You can charge the writer a flat fee to have their article feature as a guest post when this happens. You will also be able to list advertisements on your blog, which is another way to bring in income from your blog.
- Tutoring
If you are a retired teacher or enjoy helping others, tutoring online could be a perfect business idea for retirement. Being able to help kids with a particular subject they are struggling with or helping them prep for a test can be a rewarding feeling and help bring in the sense of self-worth as you support and watch these kids succeed in school.
There are many online tutoring websites you could consider. For example, Tutor.com and SmarThinking.com are two popular tutor websites students use every day to seek help in particular subjects. Even if you solely help students prep for the ACT or SAT, it is an excellent business idea to bring in extra cash in retirement.
- Open a bed and breakfast
If you have a large home or a guest house, a bed and breakfast could be an ideal business to have in retirement if you enjoy company. Owning a bed and breakfast business will keep you busy with the many tasks that come along with it. For example, you will be responsible for cooking, cleaning, management, bookkeeping, and maintenance.
Bed and breakfasts are popular during this time, as travelers favor the personal and quaint feeling when staying with you rather than booking the average hotel stay.
- Pet sitting
There is a high demand for pet sitting today, as nearly two-thirds of American households have some sort of pet, whether it’s dogs, cats, birds, or hamsters. If you are an animal lover and don’t have any pet allergies, pet sitting in retirement could be ideal for you.
Many pet owners don’t enjoy locking their animals up in kennels or sending them to a veterinarian’s office whenever they need to travel. Pet sitting allows the owner to leave their loved ones in your hands and be confident they will get all the care and love they need while they are away.
- Sell baked goods
Do you have a passion for baking and have been told you’re good at it? Well, a baking business might be right up your alley! Baked goods will never go out of style, and 68% of Americans are more likely to buy baked goods whenever they know they are fresh and homemade.
Whether you specialize in cookies, pies, or cakes, there is a market out there for it. Think about how many weddings, baby showers, and birthday parties happen daily. Whenever you think about these types of events, there is usually some type of sweets involved! There is no better way to spend retirement than doing what you love while making money.
- Become a travel agent
There is a high demand for travel agents, as nearly all travelers use a travel advisor whenever they plan a vacation. Although travelers can look up their own flights and book their hotel stay, many prefer having someone else do it, so they can ensure they get the best bang for their buck.
Starting your own travel agency can be as simple as launching a website and using simple marketing tools to help advertise your agency. Being a travel agent will consist of speaking over the phone with your clients and conducting thorough online research to make sure you are finding the best deal in the area for hotels, restaurants, car rentals, and excursions. Typically, a license is not required in order to become a travel agent.
Final point
There are many options to choose from when it comes to starting a home business in retirement. Consider these six business ideas whenever you are contemplating how to make some additional income in retirement and enjoy being your own boss!
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