5 reasons retirees should start an online business

Hi, I’m Dave Mahen. My employer forced me into retirement three years ago. I was only 6 months from retirement age, but I hoped to work an extra year but that didn’t happen. I am fortunate in that I only have a mortgage and day-to-day expenses. I am fortunate that I am in reasonable health. Because of my situation, I started an online business to supplement my income, and you can too! Throughout my working years, I didn’t pay serious attention to retirement. Now, here I am, trying to live at below poverty level. So, I started into an online business. I wondered: Can I really make money online? I also wondered if someone retired could really make money online. Read on!

Face of an older working man

I have 5 reasons that I started an online business, and I’ll share them now.

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At least 25% of us know that Social Security isn’t enough. The change from decent income and security to a poverty level income is devastating. If you’re retired, you know what I mean. Every trip to the grocery store suddenly seems expensive. Bit by bit, you cut back on many of the activities you loved to enjoy, dining out, going to movies, or trips to visit relatives.

picture of second - start an online business

We face declining health. That means our expenses for medicines and medical care rise after our income has fallen. Medicare and supplementary plans cover much of the cost, but not all. It barely reimburses dental work. I had a tooth extracted. It cost $400 cash up front, one third of my monthly check.

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Before I retired, my career gave me routine and a sense of purpose. Every day followed a plan, even weekends. I loved the routine and suddenly it vanished. My first Monday was a void, without purpose, and quickly became a void. Time is on my hands and I have homework. I started in an at-home business to regain that sense of purpose. I’ve always helped and supported others and I missed that.

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An online business takes time and effort. I need to stay busy. If for no other reason than to regain my sense of purpose. I realized there was no instant cash flow, but I realized this comes with time on the job. No one succeeds instantly, though some claim to. I know that I will succeed, I always have.

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Work at home saves money because my travel is limited, and meals are at home. Lunch for two at a fast-food joint will cost about $20 for the meal. That covers all three meals at home. I also save on gas.

I know that as I study and work at home, I will generate extra income and you can too! Read about how I started. Have a look to see what you think. Let me know if you have questions.

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