Most 50-plus-year-olds I know aren't hanging up their careers and moving to golf communities. While some can't afford not to work, many want a new way to share their wisdom and still be valuable contributors. And there's no reason you can't start fresh, but this time work the days and hours you want.
One of the best ways to have flexibility and supplement retirement income or make as much if not more than you used to, is to have a home business. But not just any home business. Let's talk about the ones fifty-plus workers have found to be most appealing.
These are businesses older workers say are reliable income generators without undo effort and risk and fit well with their priorities. I discovered them in Paul and Sarah Edwards' book, The Best Home Businesses For People 50+.
The authors admit there's no list of ideal home businesses for any age. Their list is based on research that proved the business can be or has been done successfully and practically at or from home.
First you want to decide which of these four businesses types appeals to you most. One that:
serves the business world
serves businesses and consumers
helps individuals and families
turns your hobby into income
They organize business ideas ranging from mediator, make-up artist and Feng Shui practitioner to virtual assistant, financial planner and cake baker and decorator into these four areas. Then they evaluate such criteria as start-up cost, potential earnings, flexibility of hours and stress level.
So, for example, if you want to be a mobile notary, notarizing documents by going to the people or businesses that need your service, you would have start-up costs under $2,500, some stress and very flexible hours. Potential earnings are between $20,000 and $50,000. To get started, check out the American Society for Notaries, www.notaries.org or National Notary Association, www.nationalnotary.org.
To start a business in environmental assessment and inspection, in which you inspect commercial or residential property for environmental hazards, you'd need to get certified. You would have start-up costs between $2,501-$7,500, some deadlines, somewhat flexible hours, rare stress and could make over $50,000.
What if you wanted to turn your antiquing hobby into a business? To make a business out of selling treasures you discover in yard sales and flea markets, you'd need a Web site and to invest up to $7,500 up-front. Although you can make over $50,000 and hours are very flexible, there will be stress.
If you would enjoy interviewing people to record their stories and pulling together treasured family photographs for a book, audio, video or family Web site, you might become a personal historian. You could make between $20,000 and $50,000. Go to Association of Personal Historians, www.personalhistorians.org.
Another popular avenue is to become a fitness trainer where you can make up to $50,000. You'll have frequent deadlines because of regularly scheduled appointments and some stress, but low start-up costs and overhead.
Doulas are a booming profession. This is someone who supports and assists pregnant couples before, during and after the birth of a child. Sometimes they act as advocates for clients in the hospital to make sure they get the care they want. Some doulas help people with hospice care. Potential earnings is between $20,000-$50,000 and there are frequent deadlines and flexible hours.
Whether you need to work or not, the right home-based business can be a rewarding way to spend the second half of life, make money and still have time for what else is most important to you.
© by Andrea Kay
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