Are you retired and bored? Do you need more challenges?
You may want to consider starting a business. With a secure source of income, no significant debts, and plenty of time, retirees are in the best position to do so.
Brick and mortar stores require a significant investment in start-up costs such as legal expense, lease procurement, rent, furnishings, signage, inventory, insurance, etc. Home-based businesses, on the other hand, require minimal, if any, start-up expenses. All that’s needed is a computer.
Access to sophisticated computer technology has evolved and advanced from being available only to major business enterprises to being available to anyone who has an interest. Because of these advances, home-based businesses crop up daily.
The growth in online retailing, in general, and the resulting decline in brick-and-mortar retail stores are also a causative factor in the burgeoning home business movement. One of the easiest ways to get started is taking advantage of third-party websites such as online sellers eBay, Etsy, Shopify, and Amazon, which allow the average person to access their platforms (for a fee) to buy and sell merchandise.
A more complicated route is to design and create your website for the products and services you wish to provide. There are design websites that will help you with this for a fee.
One business that doesn’t require selling products or services is blogging.
The key to blogging is identifying a topic you are passionate about and gaining an audience that is equally as interested in the same subject. Your blog can be a means of expressing your ardor and excitement. You may find writing a blog satisfying and rewarding.
Blogging isn’t only about writing, although it can be just that if that’s what you want.
In addition to posting written articles, you can also upload photographs and videos. You can also post connecting links to news articles and websites that are of interest to your audience. You can post, as an example, a top tier list of your blog’s subject matter. If you are interested in, say, foreign films, you can post the names of the top five films of the year with a description of the movies and links to reviews by reputable sites. If you are interested in products for the home, you can post the best five detergents with links to recommendations by magazine sites. The point is that there is no limit on blog topics. It’s a matter of your personal interest.
As an example, in the movie “Julie and Julia” Julie Powell attempts to cook each dish in Julia Child’s book “Mastering the Art of French Cooking,” 524 recipes in 365 days. Powell wrote a blog about the experience, and over that year, she accumulated a vast following. The size of her audience drew the attention of a publisher. Her project yielded her book and movie deals. Of course, not everyone is going to be as successful.
Making money with a blog requires selling yourself, connecting with businesses that may want to advertise on your blog, and writing articles as a guest on other blogs to gain recognition in your field of interest.
The blog must be unique and appealing to a specific audience. If people can find the same information elsewhere, there is no reason for them to read your blog. The posts your blog should be of utmost usefulness to the reader in his/her daily life. Posting items regularly will strengthen the appeal of your blog and encourage people to check-in for new postings.
– Joe from Arizona, a FAR customer who is finding purpose in this new stage of his life.
* The opinions expressed in this article are those of the authors. They do not necessarily reflect the opinions or views of the Finance of America Reverse (LLC).
This article is intended for general informational and educational purposes only, and should not be construed as financial or tax advice. For more information about whether a reverse mortgage may be right for you, you should consult an independent financial advisor. For tax advice, please consult a tax professional.