Retirement is moving towards me… I have about 5 or so years to go. Because of my health I’m going to retire at 62 and walk into my other careers of being Father Yule (Santa for Hire) and Master Detective (Murder Mystery Events) full time. I will have my School dist pension and SS.
Have you thought about what you might want as a job in the future… I’m going to be up front, I don’t want to be a greeter at a store, or person who still has to punch a clock for a boss somewhere. I want to be my own boss. I want to control my schedule somewhat… you’re always having to work for someone and work with their schedule. Money is always going to be given to you for either some product(s), service or employment. We’re going to be running into the value and worth of what we do in life.
Here are a few ideas to get you thinking now about what you want to do in your retirement… most people don’t retire with a enough money to be on a long term vacation for the next 20+ years in retirement. If you start thinking about what kind of business or work you would like to do, and start about 7 to 10 years before you figure you’ll be retiring, that might give you enough time to build that business of clients to live off in the years after you start being retired.
Photography — are in high demand for weddings, corporate events, family portraits, and more. And because you can build this business out of your home (with the right tools, of course), a freelance photography business has relatively low startup costs. Plus, you’re in charge of your client load and schedule, so professional photography is a great way to build a side hustle while working full time elsewhere.
Woodworking or Furniture Building — Do you love working with your hands to build beautiful, custom furniture? Start your own custom woodworking business. You might start working weekends out of your garage, but as business takes off, you’ll be well on your way to your own shop and a brand new, full-time career doing what you love.
Bed and Breakfast — Do you live in an interesting tourist destination? Does your home have a guest house, mother-in-law suite, or even just a spare bedroom? Do you love to cook and entertain guests? If so, you might be the perfect candidate for turning your home into your own B&B. Sites like VRBO and AirBnB have made it easier than ever to market your home to travelers in need, and you may even make new friends along the way.
Craft Brewery, aka microbreweries — these are booming in the United States—in fact, 98% of operating breweries in the U.S. are independently owned. So, if you’ve been tinkering with beer-brewing in your garage, calling it official and opening up a microbrewery can be a great way to monetize your hobby.
College Application Consultant — According to the National Association for College Admission Counseling, only 28% of public schools employ at least one college counselor. And yet, the process of studying for entrance exams, completing college applications, and navigating the financial process is complex. If you’re organized, knowledgeable about the higher education process, and enjoy working with adolescents and their parents, consider starting a side business as an independent college application consultant to help more smart, ambitious, and qualified kids get into the schools of their dreams.
App Development — Launching a successful app is no easy task but there have never been more resources at your disposal to get started. Whether you want to develop apps for Android or iOS, there are large markets available for games, productivity tools, and much more. App development is an excellent startup business idea because so many businesses want apps developed or alternatively, you could develop apps for consumers.
Entertainment through Gigs (Gigsalad and Gigmasters or the many other gig sites out there.) You can try your hands at Santa for hire, Balloon Twisting, other brilliant Costume Characters, Singing acts, Pirates, Wizards and 100s of other entertainment acts that can be done too.
Start now 7 to 10 years before retirement come and get your feet wet and see what might work for you. You don’t want to wake up a few years into retirement and find that the monthly check isn’t going to give you the life style you want… paper routes are going away and do you want to stand there saying “Welcome to such and such can I direct you in the right direction to want you’re looking for?”
Retire into a business of your own or at least the place you want to work and play at.