I Want to Supplement My Retirement Income. Any Suggestions?
Bigg Challenge
Dorothy is preparing to retire. She was recently presented with an opportunity by a network marketing company. She says she is a people person, but not a sales person. It makes her nervous, asking people she knows to buy something. She would, however, like to supplement her pension and social security checks somehow. She wants to know if we could offer some suggestions.
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Bigg Advice
We followed up with Dorothy to find out what she really likes to do. She said there are a lot of things she likes to do, but most of them don’t pay. For example, she’s an animal lover, often volunteering at the local animal shelter.
Our first suggestion is to go with what you love – what you’ll do even without pay.
Before we get to that, though, let’s look at the sales opportunity you have. Do some market research by talking to five people you know. Tell them about the idea you’re considering and see what they say. You’re not selling them … you’re asking their opinion.
See how that goes before you invest any money upfront or commit to any ongoing fees. Then make a decision.
Now let’s explore some other options.
Pet sitting service
Why not start a business that fits your love of animals?
Many people think of their pets as part of the family. When they’re away, they want their pets to be well cared for at home. They need a trustworthy, pet-loving person to take care of their pets.
Start a pet sitting service to meet this need. It’s a simple little side business that’s in great demand. Print up some cards that promote your service. Contact veterinarians you know that don’t offer boarding to see if they would allow you to leave your cards on their counter or bulletin board.
It’s definitely a word-of-mouth business so you won’t have to spend a lot of money to get work.
Related links
Start Your Own Pet-Sitting Business
House sitting service
Here’s a way to double down on the pet sitting idea. Make more money by combining your pet sitting service with a house sitting service. People who travel want to know someone they trust is watching their homes. You can market this service to the same people whose pets you care for.
Errand service
There’s a growing demand for errand services (sometimes referred to as a concierge service). People just don’t have the time to get everything done. That’s where you come in – run their errands for them. You may drop off and pick up their dry cleaning, shop for gifts, and any number of other things.
Market your service at the same places where people are running errands. Once again, start-up costs are low and word-of-mouth is key.
Related links
Personal Concierge / Shopper Business Startup Guide
Start Your Own Personal Concierge Service
Thanks, Dorothy for sending us your bigg challenge. We wish you bigg success!
Our bigg quote today comes from Francoise De Motteville:
to love our work and find it in our pleasure.”
So find pleasure in your work, and enjoy the fruits of your labor.
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(Image by CDWaldi)
I’m very excited by the idea’s you’ve come up with! The links to the books and manuals are helpful as well. Thanks so much George and Mary-Lynn!
Dorothy it was our pleasure to offer some suggestions…we LOVE helping people make a profit from their passion! Please keep us posted.
As the owner and operator of an errand and concierge service, I have to say that I really enjoy what I do. Everyday is not the same and the types of errands that you are asked to perform can be both fun and challenging. Try getting two Bassett Hounds to behave when you are dressing them to be a part of a wedding! I share my experiences and advice in a book I have written for those wanting to start their own errand or concierge service. The book can be found on my website, http://www.angelatyourservice.com.
Which indicates, of course, that many of these sudden and reluctant retirees are ending up in foreclosure or evicted from their rental agreement, which of course adds to the high foreclosure rate and struggling real estate marketplace. It also means that these reluctant retirees are paying drastically much less income tax, whilst simultaneously draining money from the Social Security Administration, a double hit for the Federal government, which is already facing a record budget deficit.
It can be a vicious cycle.