Retirement is a much-anticipated phase in our life, but it is by no means the end of our career. Planning early for that stage to come can help us pull through it financially and emotionally. If you are approaching or have just entered this golden phase, I have some good news for you.
With the help of the internet, you can now do the things that you have always dreamed about by creating an online business. Here are 6 great ideas to help you get started.
Online Business Ideas for Retirees
(1) Freelance Your Skills
If you are still passionate about your job, the internet is the next platform that you can leverage from your existing knowledge. Whether it is business marketing, accounting or teaching, thousands of people search for freelancers online every day because they are less expensive and more flexible to hire.
Given the years of experience, you are more likely to produce an outstanding profile which can increase your chances of getting hired for a specific skill.
# Tips – This form of business is great to keep yourself occupied without too much commitment.
(2) Offer Coaching Services
Besides job skills, retirees are often seen as experienced individuals when it comes to life management and career planning. This can lead to a new business opportunity which is coaching and leadership. Even if you are not a professional, you can invest in some learning and incorporate your own personal experience as part of the coaching service.
Over the years, there has been an increasing demand for these kinds of advice online such as financial planning;
And creating a successful life.
So if you think you have something to offer in these fields, you should really go for it.
# Tips – This form of business is great if you are looking to help and inspire changes in people’s life.
(3) Offer Travel Accommodation
By the time you retired, your kids have probably moved out which can leave the house looking pretty empty. To make good use of these spaces, you can consider renting your property to travelers who are looking for affordable accommodation that has a local touch. A great way to do this is by becoming a host at AirBnb.
# Tips – This business idea is great for you to make friends with people from all over the world.
(4) Launch a Project
Have you always wanted to create something innovative? Do you spend hours researching on an idea, hoping that it would someday change the world? Well, now it’s the time to launch a project campaign, raise funds and make it happen.
I frequent Indiegogo which is a crowdsourcing platform and I am constantly amazed by what normal people are creating every day. Here are some interesting projects that might inspire you too.
Will yours be the next one? I sure hope so 🙂
# Tips – This project idea is great if you want to design and launch a new product.
(5) Start an Online Retail
Even at the age of 60, it’s never too late to become your own boss. If you have always wanted to run the show, operating your own online retail is a great way to challenge your entrepreneurial skills. There are plenty of web tools to help you out so setting up an online store or listing a local business is very easy these days. It is also something that you can do together with your family and friends.
# Tips – This business idea is great if you want to do something entirely different from your job skills and out of your comfort zone.
(6) Pursue Your Hobby
Maybe all you want to do in retirement is to pursue your own hobby. Now, find out if this hobby has a product or service that you are well versed with and can promote through an affiliate program. The Amazon Associate program is a great place to venture into this opportunity.
When someone buys the product from your affiliate blog, you will earn a small commission from the sales. Within your niche blog, you can write reviews for as many products as you wish and still work comfortably from your own home.
# Tips – This business idea is great if you are interested in a low-cost start-up and zero-inventory management.
Exciting Journey Ahead for Your Retirement…
When you think about all these business ideas. In fact, the earlier you get involved with these opportunities (even as early as your 30’s), the more success you’ll get to experience later in life. To get started, there are basically two things that you need to do;
- Create a business website with WordPress.
- Enroll in a training program to learn the basics of running an online business.
Once you develop the skills of web business, there’s really no stopping from what you can achieve online.
If you are keen to start immediately, I can walk you through the process step-by-step. Join me at my recommended entrepreneur platform here to learn more.
What other ideas do you have for retirees who want to venture into their own online businesses? Please leave your opinions and questions in the comment area below and I’ll get back to you.
I thought this was a really good post very interesting and extremely informative!
You have some great ideas I loved the idea of freelancing your skills or getting involved in coaching that’s something I would like to do.
Thanks so much for writing such a useful article and making retirement an exciting challenging experience something to look forward to!
So, the most important tip to take note. Plan early. It’s a tip for someone who’s about to retire. Not that I am going to retire soon because I’m far too young for that. Not for 25 years old I would say.
I like the second point as I thought in retiring phase is all about learning something new. Well, instead of learning, it’s about the opposite which is providing and sharing.
In brief, this is a post that is useful for everyone in all honesty. The ‘plan early’ part can be for someone like me as I know what I would do when I’m retired, no?
Hi there Tar,
If you can grasp this concept at the age of 25 years old, you are definitely going to be far more prepared for retirement than your peers. Many youth put this plan way down their list because they think it’s something ‘too soon’ to think about.
However, if you consider about compounding interest and asset appreciation, your 20’s is the right time to venture into these kind of investments whether it’s starting an online business or buying a house. There’s no better time to begin than now; the earlier the better.
Hi Cathy,
Your article about online business ideas for retirees was very helpful. My mother is retired and needs something to do with her spare time. I think she might enjoy checking out your website.
Many retirees have great skills and experience and I think it would be so helpful to their overall self-confidence and self-worth to have something to do that would fulfill them emotionally and mentally.
I saw from your About page that you work in the health service industry. I am sure that you see many people within your line of work who would benefit from being released from the stress of living a typical 8 to 6 type of job and not spending time with their family and children. Working online can solve so many problems for so many people.
Welcome to my blog Stephanie,
Indeed, the nature of my job taught me a lot about the consequences of stressful living and the lack of financial support when it comes to paying the medical fees. As a result, I see so many tearful events, regrets and anger and wonder why people put themselves through all these kind of situations.
From my analysis, working online or having a home-based business, can ‘cure’ almost 95% of all these problems. Everyone deserve to get access to good medical care and everyone deserve to be with their families during difficult situations. That’s not even something that should be compromised.
I hope that this article not only reaches the hand of retirees, but also youth, parents-to-be and friends who strive to improve their lifestyle and to gain more time freedom.
It’s Alexey,
Great tips about planning your retirement. 2016 is the year where most businesses will jump into the internet – as well as many small businesses.
I agree with you about planning the retirement long before we face it and I am working really hard to live good when the time comes.
Great article!
That’s so true Alexey,
Our 20’s and 30’s are the best times to plan for our retirement because that’s when we are the most optimum at work – physically and mentally. We can channel a lot of our resources into investments and multiply our income streams while working full-time.
Honestly, creating a website is one of the best ways to make money online and I highly recommend any retirees (or those who are already planning) to consider getting one set-up.
This post is perfect for a “30 years in the future” me. As I am probably too young to retire from anything at this point anyway, I still think this would benefit my dad who is already retired and living overseas. I like your idea of renting out property for affordable accommodation. I think especially in today’s world, more people are looking for affordable travel options, and there is definitely money to be made there for my dad who has property in his birth country.
By the way, do you know of any training programs to be a life coach? Perhaps online? That would be great!
Hi there Farhan,
It’s never too early to think about our retirement even when we are 30 years ahead of time. Like you, I really like the idea of renting property to travelers and it’s something that I would consider in the later part of my life. If your father’s birth country belongs to a popular travel destination, it’s a good opportunity to explore this option.
I don’t know any life coach training program at the moment, but I’ll help you check it out.
Hello Cathy, thank you for an inspiring article.
I think that it would be great, that seniors would not loose hope, when they are retirees. Every part or stage of life has own pros and cons. Seniors have a lot to offer to fellow human members.
Life experience, patience and optimism are those traits which could help them to live an exciting life starting own business. I think that can be a fun for them.
Your ideas are real and doable for everybody. What people need, it is an information, which they could use for their projects. Your article perfectly shows how to do it and be happy serving others.
Because when we do something such as renting our house or apartment, we help others feel at home, to have a good time and at the same time, we can find new friends or learn something new from them.
Hi there Nemira,
Indeed, retirees have a lot to offer for the younger generation. The reason I am more money savvy today is because some of these people have taken the time to educate me on financial and retirement planning and pointing me towards entrepreneurship.
I see many retirees closing their doors once they reached that stage. My advice is – don’t stop what you doing. The internet can be your new platform to continue what you are a good at OR start something that you’ve always been passionate about.