Work From Home Business Ideas For Retirees

After a whole career spanning decades, many retirees aren’t quite ready to hang up the towel. For some retirees, the reasons are financial—extra income never hurts and is more often than not a necessity in 2022. But for others, the reasons are aspirational—who wouldn’t want to be their own boss after working a regular job for most of their adult life? 

Many seniors see their retirement as a fresh start for opening that business they’ve always dreamed of, becoming a consultant in their industry, or finally getting to that novel after a lifetime of experience. This burgeoning trend among retirees is called “encore entrepreneurship.” Who’s ready for round two? 

This post will explore some practical business ideas to help your golden years live up to their namesake.

Turning Passion into Profits

Now that you have saved up retirement funds over the past few decades, you can afford to take on a bit more risk. Knowing there is a nice safety net beneath you, why not pursue that hobby and turn it into some extra cash? 

Perhaps you’ve always found yourself drawn to the arts—painting, writing, playing music, or interior design. Or maybe you are drawn to a particular cause—politics, environmentalism, or social progress. Here are a few ways to turn these passions into profit without leaving the assisted living community.

Sell Your Arts/Crafts

Let’s say you enjoy woodworking, pottery, sewing, or some other craft. Why not try to turn this passion into a small business? Platforms like Etsy allow artists to easily connect with interested buyers worldwide. 

If you prefer the brick-and-mortar experience, try peddling your wares at a local farmer’s market, community fair, or crafts market. Network with other regional artisans and build your business network. 

Create an Online Course

If you have a skill that’s easily communicated online, you can set up an online course. For example, if you worked in marketing, you could devise an intro-to-marketing course and share your insights while helping the younger generation pick up the torch. 

Or you could specialize in more advanced topics depending on where you’d like to take your online school. As is the case with most online courses, they are supplemented with a well-curated blog.

Start a Blog

Perhaps you have a lot to say regarding your experiences and expertise in a given field. If you feel like your insight and experiences might be valued by a particular community, then you should consider starting a blog. 

Most people turn to the internet to answer questions and resolve problems. With a stroke of the enter key, anyone with internet access can find thousands of resources describing what they seek. Why not position yourself as an expert in your field? 

This strategy pairs well with online courses—as the blog works to funnel readers toward taking the online course. 

Get Involved With Local Organizations

If you are passionate about environmental or political activism, why not contact a local group whose values align with your own. Whether political, social, charitable, or scientific, connecting with other like-minded people can help you put your skills to work for a cause you believe in.

Take Advantage Of Your Experience and Wisdom

There are other ways to put your skills and experience to work for you. Let’s say you worked in business or finance and accrued years of valuable experience in the field. Or, perhaps you worked in a highly-specialized industry—like the medical field or engineering—that requires advanced training. 

What are some ways you could profit from that experience?

Become a Consultant

Other companies will pay you for your insights and appraisals if you have particular expertise. Perhaps you have experience streamlining a manufacturing process or motivating employees toward increased productivity. You could offer your services to companies that want to learn from you. 

Become a Teacher, Coach, or Tutor

If you have experience playing sports, speaking a different language, or playing an instrument, you could offer your services as a tutor, coach, or teacher. You coils join the staff of a music school or sporting club, or strike out on your own and open your own brick-and-mortar school. 

Becoming a Franchisee

Maybe you have experience running a business. Many seniors with business experience look toward opening their own franchises to keep busy and make money in retirement. Find a franchise you care about—there are many more franchise options available today than there were even twenty years ago.  

Real Estate

Perhaps now is the time to start thinking about getting into real estate, or maybe you already own more than one property. There are many obvious and not so apparent ways to take advantage of owning property.  

Become a Real Estate Agent

Most real estate agents set their own hours and enjoy relative freedom in their scheduling. That’s why many retirees become real estate agents part-time to stay engaged with the community and keep active.

Open a Bed and Breakfast or Airbnb Rental

If you own spare property or don’t mind sharing your own with strangers, you might consider opening up a bed and breakfast or converting some space into a cozy Airbnb rental. If you enjoy hosting guests, this might be the perfect way for you to engage those passions and make some money while you do so.

Ready to Make Some Money in Your Golden Years?

As you’ve surely noticed, there are many unique ways you can stay active and profitable as a retiree. Which options seem the best for you?

About the Author

Jenn Walker is a freelance writer, blogger, dog-enthusiast, and avid beachgoer operating out of Southern New Jersey.

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