What do you think about starting a small business? 

In America, more than 70% of retirees are worried about running out of money in their golden years. That’s why doing nothing but living solely on your Social Security isn’t a viable solution. Many people decide to develop a company concept they have been keeping in mind for a while or turn a fresh passion into a money-making venture after taking a few holidays and reassessing what retirement means to them.

Your business doesn’t need to become a hassle or be boring! Just look for something that’s enjoyable and gives you satisfaction. After all, you must have some nice hobbies that you can turn into something profitable or a small business; you just need a bit of extra courage for this.

If, for you, a life with nothing to do in retirement doesn’t sound that good and you need to feel useful but also independent, continue reading this article. Hurry up and click on the next page! Let’s start with number one:

1. Gardening, house painting, home repairs

Are there any handy people among our readers? Because I have some good news for you! If you know that you enjoy gardening, plumbing, or even house painting and are good at it, it might be a great way to turn your hobby into a small business. And the good thing about this particular “job” is that you can also make your schedule, so if you’re not a morning person, for example, you can arrange everything so you can have the morning free. Allow yourself to be flexible but also make some profit.

Moreover, besides gardening and home repairs, you can also enter the world of a small business that allows people to lease plants instead of owning them. Depending on the plants, you can earn up to $225 per month. It’s not a big amount, but it’s still something, and it adds up to the budget! Many offices want to make their setting appear more active, but they don’t want to maintain the plants. And this is your chance to shine if you’ve always had a green thumb!

All you have to do is ensure that the plants are watered and clipped, and in case of emergencies, you will be contacted by your clients.

2. Create online courses

If you’re still on point with all the information you’ve gotten from your former job but don’t want to be in a 9-to-5 job anymore, you can always share your knowledge with others and turn it into a small business. And believe me, there are a lot of people who seek affordable training courses for various tasks.

The best way to promote yourself is by building a website where you can add all the information about yourself (a personal CV might be helpful). It’s up to you if you want to share training videos, books, or direct online courses with the people. Money and scheduling are also up to you!

3. Start a podcast or a blog

If you want to earn extra money from the comfort of your own home, with all the knowledge you have, it’s never been easier! You can always start a podcast (they are trending lately), or if you’re not exactly a very talkative person but you enjoy writing, you can start a blog.

Think about a potential subject that you know everything about. After that, think about a design for your page if you choose to blog, and read more about how you can add paid ads to it. If you choose podcasting, you can do it either on YouTube or Spotify.

Believe it or not, this is one of the simplest ways to make extra cash, especially during retirement. Plus, if you’re looking to also be more social, you will for sure meet new people along the way. New friends and fans? That sounds cool indeed!

4. Life Coaching

Another small business idea is to become a life coach. This job doesn’t require a certification because you can give advice based on your life experience and abilities. You can assist them in overcoming all the obstacles life has thrown their way and instruct them on how to do it effectively.

With so many people attempting to build their foundations, they require assistance from a more knowledgeable individual who can illuminate their path and help them determine what comes next on their journey to success.

5. Become a virtual assistant

To save costs, a lot of entrepreneurs and owners of small businesses use virtual assistants. From their homes, virtual assistants can plan conferences or assignments, make phone calls, enter data, construct spreadsheets, or even assist with writing or designing graphics work.

You might establish your own virtual assistant business and sell yourself based on your specialized abilities, or you could use freelance platforms like Upwork to connect with clients who require virtual assistants.

Besides being a small business that can bring you quite a bit of money, you can also be flexible with the schedule but remember to be consistent and allow at least 18 to 20 hours per week.

6. Invest in Real Estate

Another small business idea that might work is real estate, especially now that everybody is looking to buy or rent affordable places. If you are lucky enough to have an empty property that you can rent for AirBnB, or even better, if you have the necessary money to invest in a property in a region that is usually full of tourists, don’t think twice.

Starting a small business in this field is a good idea, even if for a while you might need to invest to gain later. Another example is that a lot of retirees rent out their own homes or rooms to tourists that are visiting the neighborhood. You can also choose to rent your house on Airbnb when you’re away on vacation. Sounds neat, right?

7. Start an eCommerce Store

If none of the options above appeal to you, maybe you are interested in trying out another small business, like an eCommerce store. If you have a hobby like painting, knitting, or even making small jewelry, you will be happy to know that you can make an extra income by selling these things. How? By opening an online store where you can add pictures of the crafts and price them accordingly. You can either create your page or simply create an account on one of the various platforms that are available for sellers.

Etsy is one of those websites that have thousands of users and might be a great way to sell your stuff. You don’t have a talent for creating new things? No worries. On Etsy, for example, you can also sell reconditioned items or vintage stuff that you no longer use. Depending on how old the products are, the price might rise or fall.

That’s it! We hope you enjoyed reading, and if by any chance you think about boosting your retirement budget a bit, try starting a small business. And remember, there is no right or wrong way to retire! If none of these small businesses is your thing, you can also look online for other possibilities that suit you better.

Happy retirement!

Do you have a hobby that might be monetized? Check out this list and see if yours is on it. And if you’re new around here and you enjoyed our content, don’t forget to subscribe to our page. We appreciate it!