Smart Business Ideas for Retired Couples

 

Smart Business Ideas for Retired Couples

So you’ve retired after a long career or managing a successful business. What now?

Experts say the first year of retirement is the most dangerous. Retirees tend to find themselves with a lot of spare time on their hands. Sometimes they take up potentially dangerous hobbies that land them in trouble. Others seem to find life lackluster and get dragged into a rut of sluggish existence. However, there are several ways for you to keep on rocking well into retirement age.

Some of these, like starting your own business can be just what you need. Some business ideas need nothing more from you than AT&T offers and a working knowledge of social media. Others may build on the experience you acquired during your life. This blog will show you a few smart business ideas you and your significant other can start together post-retirement.

Smart Post-Retirement Business Ideas for Couples

Retirees have a wealth of knowledge and experience to monetize. There is also the fact that the internet has leveled the digital playing field. A small mom-and-pop online business can theoretically compete with bigger corporations. There are also younger individuals looking for guidance and advice. That’s not to mention miscellaneous services you and your partner/spouse can offer post-retirement. To make things clearer for you, here are some of the best business ideas for retired couples:

  1.       Create a Coaching or Consulting Business
  2.       Start Offering Services
  3.       Try Active Living
  4.       Make a Mastermind Group
  5.       Start an Online Business

Read on for more details on each of these business ideas for retired couples.

Create a Coaching or Consulting Business

There are 2 things that place retirees in a unique position to start a coaching or consultancy business.

The first of these is the skills you acquire during the course of your professional life. The second is the life experiences you have accumulated over the years. As a new endeavor, nothing is better suited to an educated and professional retiree couple.

Both of you can capitalize on the wealth of knowledge and skills you already possess. All you need to do is target opportunities that allow you to leverage that. You can teach classes at your local institutions. You can also offer professional consultancies, depending on your field of expertise.

Start Offering Services

When thinking of the service industry, people immediately assume restaurant staff. But the fact is it’s a much wider industry than that. Younger retirees can easily pick up more active services. But for older ones, tutoring, handyman or pet sitting gigs aren’t everything out there. One area the two of you can specialize is eldercare.

Many elderly folks living on their own find it difficult to manage. For a reasonable fee, you could take up the task of helping them manage cooking, washing, cleaning, laundry or more. You could also assist them with tasks like managing books, medical claims and paying bills.  

Try Active Living

Everybody wants to age gracefully. If you’re a couple aging well with time, you are in a unique position to earn from your active lifestyle. After all, who can guide someone to age well better than someone doing it themselves?

A business focused on active living offers you the freedom and flexibility to shape it as you like. Find your niche, whether opening a health food eatery or a trekking group. You could even become a brand ambassador for healthy living products. It all depends on how healthy and fit you are individually and as a couple.

Make a Mastermind Group

Did either of you retire from a long successful career? If so, your new business may be no further than your address book. During your employment, you may have established a large network of useful and experienced contacts. You have also learned many tough lessons younger people won’t learn for decades.

These are all the ingredients you need to start a successful mastermind group. Members of mastermind groups have regular meetings. They collaborate and brainstorm to solve business problems of other members based on their collective expertise. You can charge members to be part of your group and make a healthy supplemental income.

Start an Online Business

This one can be both the easiest and hardest business idea on this list. If you aren’t a very tech-savvy couple, you may not find an online business too appealing. But if you’re a pair of informed retirees, you can choose an online business you enjoy and make a tidy income.

Most new businesses rely on the power of the internet. So if you can overcome your fears and have a decent internet connection, this may work well for you. You can start a small online business using very little.

Just be sure to pick something you love doing. But be sure to keep the AT&T customer service number on hand. Reliable internet service is the lifeblood of any online business. You want as little downtime as possible. The rest is up to how well you can adjust and manage your business. Happy retirement!

 

  • Updated April 27, 2019
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