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3 Reasons to Start a Home Business after Retirement

Tue, Jul 24, 2012

Home, Leisure, Lifestyle, Money

When it’s finally time to retire, there is no better feeling than knowing you will never have to get up in the morning, battle rush hour traffic or deal with difficult bosses ever again, if you don’t feel like it. The freedom afforded during retirement can allow you to do the things you’ve always dreamed of doing, and even do things you said you would never do. However, retirement is not always simply fun and games. With that freedom can often come a  bit of inevitable boredom, and, because many retirees often live on a fixed income, the feeling of being trapped in your own house, or even on your own vacation. That’s why continuing to keep your foot a bit in the door of the business world is never a bad idea. And the best part is this no longer means you have to be a slave to the nine-to-five. There are tons of different businesses that can be started from the comfort of your own home. From running a website to starting a bakery, there are plenty of reasons starting an at-home business can be beneficial and allow for an even better retirement than you imagined.

1. Supplement your income.

Just because you’ve worked hard to save for retirement doesn’t mean that the money will be enough to live as comfortably as you’d like. In fact, many boomers are finding themselves with much less retirement than they imagined after the stock market and housing crash. Being able to maintain an extra income on the side can help offset those losses and allow for an easier time with spending. If you can bring in enough for the fun stuff, like travel, food and entertainment, then you can more easily live off your retirement savings and even continue putting money aside for the future.

2. Follow a passion.

It’s never too late to do that thing you’ve always wanted to try. Instead of thinking of the retirement as a period to stop working altogether, think of it as an opportunity to start that business you’ve always thought would be a hit. There is no better time to try something new, learn a skill, or take a leap. In fact, these sorts of ventures don’t even need to start out as business ideas. Maybe you have always made the best chocolate cake in the county, and you love doing it. By starting out small and working out of your home, you can turn that passion into a profitable side gig.

3. Fill your free time.

Because you will have quite a bit of time to fill after ditching the day-to-day grind, it’s up to you to fill it however you wish. This is the best time to travel, visit with friends, and do all the fun daily activities that you never had time for before. However, spending time doing mainly leisure activities can also take a toll. If you want to maintain your free time in a balanced way, sometimes adding in an activity that takes some work and dedication can be both fulfilling and energizing. Since you will spend most of your time at home, unless you plan otherwise, there’s no better place to start up a small business.

Eliza Morgan enjoys sharing her knowledge on small business credit cards with the blogging community. She is a full time blogger and freelancer, who, when not writing, enjoys anything and everything outdoors (except bugs!). You can reach her at elizamorgan856@gmail.com.

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