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Retirement Income
From a Home Business

Enjoy exciting trips, have nice cars, a dream home. Lucrative retirement income can be built from having your own home based business.

Most people today retire with just their social security checks. That money for most is barely enough to get by on as long as they're healthy.

Many have retired thinking that the company would continue to pay for their health insurance, only to receive notice after they have been retired for a couple of years that the company will no longer be paying for healthare you going to dream of or live your dream retirement? coverage. Now the retiree is forced to try and find health coverage at an advanced age and limited funds.

Others have seen their retirement income disappear almost over night with the plunge of the stock market, only to be told by their young broker "don't worry, it will come back in 10 years."

Employment opportunities for senior citizens are quite limited. Your choice is often between being a greeter at your local Wal-Mart's or working at the fast food restaurant with a bunch of teenagers.

How Much Money Do You Need?

What will it take to have the dream retirement life? To start, you will need to sit down and determine the life style that you want to have for your retirement. Then you need to determine what it would cost each year to maintain that life style.

Next, the big question is "how much money do I need to save in order to have a retirement income of (you fill in the amount) per year?" To help you determine that, this CNN income calculator will help you (it will open in a new window).

Home Business Retirement Strategies

To use a home business for retirement income, you are not limited to just building up the nest egg to live off of for the retirement years. There are three basic options: 1.Start a business to earn extra income during the retirement years. 2. Build up a business and sell it. This can be done before or after retirement and 3. Create a residual /passive income.

Start A Business


By having your own home based business in retirement you have much more control over your income and time.  There will not be a boss dictating the work schedule.  Income is determined from the success of the business and not limited to minimum wage. The business is an opportunity to do those things that you enjoy doing. The chance to explore new areas of interest.

Use the section on Business Ideas to stimulate the thinking.  It provides a starting point on finding an area of interest.  The key is to make it something that you enjoy doing. It should not be a chore.  

Remember, a business can be started before retiring from a job.

Start a Business and Sell It


What you do here, is take a business, build it up, and then find a buyer for the business.  You then live off of the proceeds.

The earlier that you can start the business, the better, for it provides for more years to build the business up.  The sale of the business would occur at the time of the planned retirement.  Allow time for the sale of the business.  Before it can be sold, a willing buyer has to be found.  Planning should be done well in advance of putting the business up for sale, to make the business as attractive as possible to potential buyers.

A word of caution, to use this strategy, great care must be taken in the selection of the business to start.  Most home businesses will be difficult to sell because they are completely centered on one individual.  The more that the income of the business is dependent upon the relationship between the owner and the customer, the more difficult it is to sell.

Create Residual / Passive Income


A network marketing business is one of the best ways to create this type of retirement income.  You create a residual income from the on going orders from the customer base that you created and from the overrides from the team that you built.  This income permits you to take time off when you want and even to stop work all together, and still have an income.

These businesses can be sold, or even willed to others. Many will use it to create a family legacy.

The major caution here is that you must take care in selecting the network marketing company.  Very important that the company selected is one that will be around for a while. To help insure this stay away from startups, they have the highest failure rate, and give much consideration to the product and it's long-term viability.

An Internet business can also create some passive income, particularly if you create a product that is sold by others.  A web site selling products can provide a business that you can operate from almost anywhere, and that you can leave for periods of time. A web site can also be sold.

"A home based business gives you all the benefits of a non-home based business without the burden of the high overhead."
~ Larry Louzon

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