You’re retired. Congratulations! Now you can become the entrepreneur that you have always wished you could become.Mathew Bandyk in U.S. News and World Report says:”When you think of entrepreneurs, you’re more likely to envision a 24-year-old like Mark Zukerberg, the founder of Facebook, than a retiree. Taking the risks of starting up a business seems easier to do before life commitments tie you down.”But retirement can lessen the fear of failure that comes with launching a venture. Some people cling to the security of working for someone else most of their lives, repressing their inner entrepreneur until retirement, says Sam Spector, author of The Baby Boomer’s Official Guide to Retirement Income. ‘They really have a desire for entrepreneurship their whole life. The money and benefits were so good it wasn’t worth taking a risk.’ Once retired, they might find that risk to be worth it.”Of course, retirees starting businesses certainly should be careful. The key question that retiree-entrepreneurs need to consider, says Alex De Noble, a professor of management at San Diego State University, is ‘how much risk are they willing to take after they’ve put some retirement money away.’ There are ways to mitigate risk so that, regardless of how a new business fares, the owner won’t lose retirement security.”A home based Internet business is an ideal business for retirees who want to become entrepreneurs and earn a substantial income after they retire.
A home based business has no additional overhead other than that which you already have for your home. It avoids the costs of many other businesses such as leasing an office and maintaining a large inventory.
Most people starting a home based business have to keep their day job until they make enough money from their home based business to quit their day job. As a result they can devote only a limited number of hours to building their business. As a retiree, you can devote as much time as you want to building your home based business.
You have experience that is invaluable. The experience you gained during your career gives you a tremendous advantage over the 20-something youth who attempts to start a home based business. You know what it takes to run a business, you have knowledge about markets that lets you select a market niche to promote your products, and you have developed good time management habits that are required for running a business.
Needless to say, you know how to use the Internet. Otherwise you would not be viewing this article.
To get help in determining which home based business is best suited to you, email me and I will give you a free consultation.