Most people plan on retiring one day, but that doesn’t mean that your skills and experience can’t be put to good use. Starting a business for, or after retirement has some incredible benefits. In fact, there are 3 main reasons that people start businesses in general:

  1. You want/need to make money
  2. You want to do something that you enjoy
  3. You have a calling 

Whether you’re looking for extra income, fulfillment, or just something to do, starting a business after (or before) retirement can be a fantastic decision. 

This week, let’s talk about each of these 3 reasons in detail, and what characteristics you may want your business to have in order to meet your needs.

  1. You want/need to make money

If your goal for starting a business is to earn more income, it’s important to choose a business that won’t cost a lot of money to get started. Finding a business that’s easily set up without a lot of overhead is a fantastic option to maximize the profits you take home. Even if you’re capable of financing it, think long and hard about how that investment may affect you in the long run. It can take years for some businesses to earn that money back, and it’ll limit how much profit you may gain from it. 

  1. You want something to keep you busy during retirement

Too many people retire without a clear idea of how they want to spend their time, even though experts suggest having something that keeps you busy. Consider what’s important to you. It may not be primarily about the money you’re making, but instead it could be about simply doing something that you really enjoy. You could even choose something flexible so that if you decide to move or travel, you aren’t tied down and can really enjoy your retirement while being your own boss. 

  1. You want to use your calling to make a difference

Income may still be part of the reason for doing this, but your primary reason is that you want to make a difference in people’s lives while continuing to make a living. You’ll need to really consider what you’re passionate about, what makes you excited, and what makes you want to start moving forward. Use that passion and excitement to fuel your plans and help you create something that will fill your needs, as well as the needs of others. 

In the end, make a decision about your business based on what you want to accomplish. Let your goals be the things that guide you toward success. 

Now that you have an end goal in mind, want to get personalized help to achieve it? Join my exclusive new Facebook group full of women just like you for support, training, and motivation to achieve everything you want and more. Click here to join.

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