Economic changes over the last few years have forced many Baby Boomers considering retirement to make some very difficult choices. Many will continue working to try and re-gain some of the money they’ve lost, while others may be forced to retire now and live on a substantially reduced income. Although there is no easy answer to that tough choice, my “advice” or words of wisdom for retirement would be: Start your own online business.
Why start an online business? If you’re the Baby Boomer that’s made the choice to continue working, you can build your online business in your spare time at home. If you’ve already retired, you can quickly build your business from home working 4 or 5 hours per day. Starting your own online business is one of the most cost effective ways to generate a second income or even start a new career.
Doing business online has some other advantages as well. Working online doesn’t require you to live in a major population center with a thriving economy. The internet gives you easy access to clients and customers from all over the world, so you are not relying on your local economy alone to support your business. Another advantage of having your own online business is that much of it can be automated, which means you have the opportunity to build a business that makes you money 24/7. There are also tax advantages to having your own online business, please consult your tax professional.
Many Baby Boomers are already avid users of computers, incorporating computer use into many aspects of daily living, such as getting their news online, shopping online, using skype and email as a means of communicating with friends and family. Why not use your computer skills to make money? Building a successful online business does not require a computer programming background or any other special skills, almost anyone can learn to do business and market online.
Starting your own online business makes perfect sense for entrepreneurs who are willing to think “outside the box.” Many Baby Boomers and retirees are finding it difficult to find work in traditional settings. The job market is tough, and extremely competitive, and many older workers are finding that, while they may be getting interviews, they are not getting job offers. The ability to earn extra income online by starting your own online business is not an age or gender related situation. None of these issues precludes you from building your own successful home-based online business!
Online business and marketing is a rapidly growing industry. It’s estimated that this will be a 7 Billion Dollar a year industry by the end of next year! If this is something that you might be interested in, my words of wisdom for retirement would be this: Do your research and find an internet marketing training program that will teach you to effectively market online. Once you’ve mastered online marketing, you will have the ability to market any product, service or business online from the comfort of your home, and your online marketing skills will be in demand by most businesses, so you might consider doing some consulting work as well.
There are many internet marketing training programs to choose from online. You want to look for programs that teach both free and paid methods of online marketing. The best programs include live weekly trainings, online tutorials and one on one mentoring or coaching by an internet marketing professional. These programs range in price from a few hundred dollars, to as much as $70,000 dollars for some of the higher end online franchises. You don’t need to spend $70,000 to learn how to market online, but you can’t learn these skills for a couple of hundred dollars either. A good internet marketing training program can be purchased for around $2500 dollars.