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Top Business Opportunities for Retirees

To many, an imminent retirement can seem like a prison sentence. They feel they will be cut off from the world and locked away, enjoying only the occasional weekend visit by family and friends. For those who want a little more out of their retirement, there are alternatives: second careers, volunteerism, part-time employment, etc. For some the dream of being in business offers the greatest allure. Going into business later in life can be challenging and not all businesses may be ideally suited to seniors, but for every business opportunity that is not appropriate there exists another that is.

Find out now: How much do I need to save for retirement?

Capitalize Your Experience

Consider getting paid for your lifetime of experience by working as a consultant. You spent years on the job, learning and honing your expertise. Setting up shop as a freelance consultant can be a great way to share your skills with a new generation. Young businesses and startups may not have the wherewithal or resources to hire experienced managers and a seasoned CEO, but they most likely can afford and will welcome input from an experienced expert on an as-needed basis.

How should I save for retirement?

Another way to leverage your lifetime of work experience and share your particular expertise is taking to the lectern as a professional speaker. The demand for interesting and informative motivational speakers is enormous, from company retreats to industry events and conferences. Public speaking as a business venture offers freedom to set your own schedule. You can accept or decline engagements to suit your desires.

Put it in Writing

If sharing your experience or passions is appealing to you, but the prospect of getting up in front of large audiences bothers you, consider the keyboard as an alternative. Writing opportunities are everywhere. Blogs, magazines, companies, websites and other outlets all need content created by knowledgeable individuals who are able to express themselves with the written word. Not sure where to start? The internet is full of advice and how-to articles written by freelancers expressly for aspiring freelancers.

Online Outlets

If writing is more of a chore than a pleasure and blogging is out of the question, the internet may still the place to turn for business opportunities. Many retirees find internet businesses to be the most liberating because they can travel and still dedicate time to their enterprise. Internet business opportunities are also ideal for retirees on a limited budget because in almost all instances, no office is required and other start-up costs can be negligible.

Startup Economics

Franchise Freedom

Franchises provide the best of two worlds: independence and structure. By their very nature, franchise businesses are highly structured. Parent companies usually provide assistance for every phase of the startup process from selecting a location and build-out to hiring staff and marketing. Your level of involvement in day to day operations is determined by you. You can choose to be your own manager and work every day or hire a full-time manager and limit your interaction to oversight.

Photo Credit: flickr

Frank Addessi Born and raised in the center of the known universe, Brooklyn NY, and currently hiding out in the bucolic hills of northeast Pennsylvania writing about personal finance. His expertise includes personal loans, credit cards and retirement. It's not easy living the American Dream but someone has to do it!
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