retirementbusiness-blog

Retirement Business Opportunities: Three Popular Ideas

Mon, 07 Jul 2014 19:54:57 +0100

Retirement business opportunities are on the minds of many people preparing for retirement, with the intent to continue working. There is a rising interest and desire to experience being an entrepreneur. Many, however, have no idea what type of business they should start.

Here are three popular ideas:

Writing, thanks to the Internet, can be a worthwhile endeavour. Creating and monetizing a blog is a simple process. Your subject matter can range from topics you are familiar with from your work experience or you can research topics to educate your readers.

Retailing is a great option for people with a sales background. Although some choose to set up a retail shop, you can also choose to create an online shop instead or actually do both. There are numerous products available to promote, so choose wisely to increase your chance of success.

Tutoring is a great option for retired educators, since they are already patient individuals and know how to work with children, if they choose this option. You can also offer your tutoring skills if you are proficient in a specific subject matter or field.

As you research retirement business opportunities, consider your personal experience and skills, to find the right business for you.

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Retirement Business Ideas: Find Your Dream Business

Mon, 07 Jul 2014 19:53:17 +0100

Retirement business ideas are abundant thanks to today's economy. It's easy to conduct your research online to discover the most popular businesses being built by folks planning for retirement. Starting your business before retirement is ideal, since you can simply expand your business hours when you are available to operate your business full time, if you prefer to do so.

To increase your chances for success, only consider a business that matches your skill sets and you are passionate about creating and growing.

There are numerous simple businesses that you can operate. Some very popular ideas include catering, cake decorating, after school care, tutoring, life coach, consulting, writing, business services and online retailing.

Since you have already built up a lifetime of skills and experience, establishing a retirement business can be a rewarding and productive opportunity for you. Be sure to do thorough research before you begin your new journey as an entrepreneur.

Retirement Business: Find The Perfect One For You

Mon, 07 Jul 2014 19:48:32 +0100

Retirement business research is a critical first step and is necessary to find your perfect business. You'll most likely become frustrated and ultimately fail, if you start the wrong business.

It's very common, after you start building your retirement business, to receive advice from people who have never operated or started a business. This unsolicited advice will come from people you may trust like your family and friends.

Especially in this economy, you also need to be aware of business opportunity marketers because you will be bombarded by them. You want to avoid wasting your valuable time and money to research and try different business opportunities. This process will only lead to you giving up or failing in the long run.

So, how can you have a fighting chance to create a successful retirement business that is financially and personally rewarding, as you navigate through a confusing maze of information overload? Your first step is to determine how you will become an entrepreneur that is successful.

Finding your perfect retirement business does not begin with evaluating business opportunities. Evaluating your strengths, your desires and yourself is the single most critical step.

When you have the right mindset to build your perfect business, you will understand and accept several key factors:

You will not be distracted by other business opportunities and will stay focused on building the opportunity you selected.

You will not fall for the promises of easy money and will focus on selecting an opportunity that complements your goals and strengths. You will understand your business is not a hobby, but an investment in your future. You will be confident that the business you selected is the perfect one for you.

Critical self-knowledge is a crucial asset for an entrepreneur, because it will help you completely trust not just your decisions, but yourself as well. Since your unique personal traits and skills are crucial to building a successful business, determine what they are before you invest in a retirement business.

6 perspectives on why retirees need to be more conservative with their portfolios

Thu, 03 Jul 2014 03:50:44 +0100

from http://retirehappy.ca/perspectives-on-why-retirees-need-to-be/

A while back I wrote some articles on a couple of other blogs on how investing for retirement is different than investing in retirement. I’ve had some really positive feedback on these columns so I thought I would share with you 6 of my favorite articles on why retirees need to be more conservative with their portfolios.

Variable Returns Can Work Against You in Retirement On BalanceJunkie.com

One of the problems of return projections in the financial industry is that most of the math is modeled on a straight line. For example, the math on a 7% average return really assumes that you make 7% per year each and every year. If you think about it, the rate of return is really the slope between 2 points – a start point and an end point. If you had a 9% return, the slope would be steeper. If you had a 5% return, the line would be flatter. Read the article to find out why this is a problem.

Investing IN Retirement Is Different Than Investing FOR Retirement on CanadianFinanceBlog.com

I think investing FOR retirement is a well-covered topic. This makes sense because the majority of Canadians are still not retired and still planning for retirement. I think things are about to change! Investing IN retirement is going to become a bigger and bigger deal – a huge deal! It will represent the future because of a group of people known as the Baby Boomers. Read this article to recognize the differences so you don’t get caught in one of the biggest and most important transitions in life.

Be aware of the retirement risk zone

One of the less commonly discussed risks of retirement is the risk of having too much market risk in your portfolio at a time when you need income. This risk is not new but thanks to some work by Manulife Financial and Dr Moshe Milevsky, a professor at York University, they are creating a new awareness for something they call the retirement risk zone. Read this article to find out how the retirement risk zone can eat away at your retirement assets.

Take control of your portfolio before you retire

I suggest that people who are three to 5 years from retirement need to get serious about it and start making sure their portfolios are positioned so there are in control over their retirement date. If you don’t agree, read this article for some stories about real people that might get you thinking.

Markets hit retirees the hardest

Stock markets around the world have depressed, scared and concerned a lot of people. Anyone that has money in the markets has felt the risks of stock market investing. For most people, the advice coming from the financial industry is hang in there and eventually things will come back. While this may be true in most cases, retirees drawing income from their portfolios may not have as much time to wait. Read this article to learn why retirees got hit the hardest.

Retirees should be more conservative with their portfolios

While investing in higher risk investments has become the norm, it is crucially important for retirees and those approaching retirement to be more conservative. It is pretty well known in the investment world that the older you get, the more conservative you should be. Let’s look at three risks of having too much risk in your portfolio when you are older

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7 tips for women about to retire

Thu, 03 Jul 2014 03:51:19 +0100

7 tips for women about to retire - http://goo.gl/alerts/HCZL #GoogleAlerts

Women live longer than men, on average. And that's mostly a blessing.

But, as with a lot of things, it could be somewhat problematic in retirement. Here's why.

The fact is, women face a unique set of issues that may require a somewhat different approach to financial planning.

"The average life span for women is 8% longer than for a man," says Deana Arnett, senior planning consultant for Rosenthal Wealth Management Group. "For a woman who expects to retire at the same age as her male counterpart, they're going to need more money."

RETIREMENT: Planning for your future

"Women will have 25 to 30 years in retirement," says Lisa Hutter, senior vice president and regional wealth manager at Wells Fargo Private Bank. "They are more likely to manage their finances (themselves) because they live longer and 50% of marriages end in divorce."

The top tips for women from financial planners:

1. Find a financial adviser. "If you don't have an adviser, find an adviser," says Hutter. "That's because an adviser can help coordinate a lot that will have to happen administratively. They can also help educate you about investments and asset allocation.

"Remember, studies show women know less about investing and the stock market," she says. "A lot of time they know less because they've been busy with other things: taking care of the children, taking care of the house, or taking care of their husband."

Adds Arnett: "Even the most financially literate woman should have her own financial planner who knows her situation and can serve as the go-to person before they make that trip. Having a backup to double-check that math is invaluable."

2. Do the numbers. "Start with your current budget," says Arnett. "If you don't know, get an average of everything you spent money on in the last six months. Since you have a starting budget, look at every line item on the budget. It will go up or go down, stay or go away in retirement. Once you have categorized each line item of that budget as one of those four, you can start creating a retirement budget."

"They have to take a financial assessment of their current situation," says Sandy Franks, executive director of wealth manager Contrarian Profits and publisher ofWomen's Financial Edge. "What are your sources of income now, and what will they be in retirement? What expenses do you have; which ones will stay and what will go away?"

Arnett also says women should try to go into retirement debt-free or as close to it as possible. "A lot of people go into retirement with a mortgage on their home," she says. "Work it out so it is a manageable mortgage. Unless you have a huge pension or huge saving, going into retirement with a $500,000 mortgage just isn't a smart thing."

3. Be involved in your family's finances. Scott Holsopple, managing director of retirement solutions at The Mutual Fund Store, says women need to be involved in financial matters, especially since they are likely to outlive their husbands. "Make sure you attend a meeting with your adviser. We say make sure you take control of that meeting. Come prepared with questions to ask so that you get your needs taken care of as well."

Holsopple also recommends that spouses switch roles so they know finances from all directions. "If one is paying bills and the other is meeting with the financial adviser, change those roles so you get the exposure."

4. Think about what retirement looks like. "We hear stories all the time about one spouse stays at home and one is retired. It throws their lives up in the air a little bit," says Holsopple. "Will you both be home or travel? Have a conversation about that before you retire. After retirement it becomes a much more stressful conversation."

"The first thing I like to tell women when they are thinking about retirement is to think about what you want it to be," says Franks. "You have to start picturing that in your head. Do you see yourself staying at home like my parents? Maybe you want to volunteer. Maybe you want to work part time. Maybe you want to pursue a hobby. Maybe you want to travel. They have to think about that retirement vision," she says. "Unfortunately, it's something that women don't do enough."

5. Know your Social Security options. "The most important thing they can do is to do their research on claiming Social Security," says Laura Bos, manager of financial security at AARP. "Women are in a different situation than men. Their financial situation could be riskier. They could have taken time out to care for a child or parent."

Financial planners say it is important do do everything you can to maximize your benefits. That may mean waiting, and not taking benefits at 62. The longer you wait, the higher the benefit. You may also want to take your spouse's benefits if they are higher than your own. In some cases women have less time in the workforce and at lower salaries, due to the time raising children. In those cases the husband's benefits may be higher.

"That can really make a difference in their financial security in their retirement years," says Bos. "The best way to do that is sit down and crunch the numbers."

6. Figure out a way to stretch your retirement benefits. "They may consider working part time to stretch those retirement dollars or turn that hobby into a part-time job," says Bos.

"I would recommend for retirees to do what they love," says Lisa Colletti, director of wealth management at Aspiriant. "If you find you are coming up a little short in your nest egg, consider working part time for a few years. It will improve cash flow, improve Social Security benefit and perhaps improve your overall well-being as you transition into this new phase of your life."

7. Account for health care costs. "You have to think about health care cost," says Franks. "Women have higher health care costs then men. Health care costs for women run about $5,600 (annual). And men pay about $4,900."
"Sit down and calculate what health care costs will be in retirement," says the AARP's Bos. "It often catches people by surprise how much they have to pay out of pocket. Health care costs can dramatically (affect) what your financial needs are."

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The Retirement Planning Pyramid - Investing for your Retirement

Sun, 26 Jan 2014 03:16:40 +0100

The Retirement Planning Pyramid - Investment Options towards your Retirement portfolio

from http://www.retireonyourterms.org/?p=220

The economic turbulence of the past several years has forced America’s 78 million Baby Boomers to re examine and redefine their retirement savings strategies. According to the Center for Retirement Research at Boston College, more than half of American households are “at risk” of being unable to maintain their pre-retirement standard of living in retirement.

To help raise public awareness of the need to comprehensively plan for retirement, the Insured Retirement Institute (IRI), the leading member of the National Retirement Planning Coalition, released its Retirement Planning Pyramid, specifically designed for use by consumers and financial advisors alike.

“Retirement planning and preparedness are at critically inadequate levels, with studies showing the majority of Americans lack any kind of retirement savings strategy,” said Insured Retirement Institute President and CEO Cathy Weatherford. “IRI developed the Retirement Pyramid to serve as a visual guide to help them build a sound financial roadmap. While no one retirement plan will meet the needs of every consumer, a weighted mix of long-term assets, guaranteed income, insurance and investments can help ensure that retirement funds are well positioned. And with growing interest by both consumers and the Obama administration to secure lifetime income, the value of guaranteed investment strategies has never been more essential.”

Making up the large base of the pyramid are guaranteed income streams, such as annuities, which have continued to grow in popularity during the economic downturn. President Barack Obama has touted annuities as vehicles to reduce concerns that “retirees will outlive their savings.” And as the certainty of Social Security may seem tenuous to younger investors, annuities may prove valuable alternatives.

On the next level of the pyramid are longer-term investments that need time to mature and grow. Examples include traditional 401(k)s, IRAs, real estate holdings and some annuities as well. As 401(k)s and IRAs offer a wide selection of investments, they also provide some stability against the frequent fluctuations that can affect a company’s single stock.

Insurance is critical, too. While the bulk of your asset base should not be overly invested in this group, investors should not ignore the importance of a good mixture of life insurance with long-term care, medical coverage and Medicare.

At the top of the Retirement Pyramid are CDs, mutual funds, stocks and bonds. With the wild swing of the stock market over the past two years, advisers may want to dilute some of these more volatile investments with something more stable, such as IRAs, and more guaranteed income streams, such as annuities. A smattering of these in your retirement plan is a wise choice.

A healthy financial diet will include all four basic groups-guaranteed income, long-term assets, insurance and investments.

The IRI Retirement Planning Pyramid is a visually simple, but powerful tool that can conceptualize how to balance financial priorities. And while no two people will have exactly the same retirement plan, using a financial fitness pyramid can offer possibilities of how to balance investments.

More information at http://www.retireonyourterms.org/?p=220

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10 Retirement Resolutions To Set for 2014

Fri, 03 Jan 2014 02:50:25 +0100

10 Retirement Resolutions To Set for 2014
by Rodney Brooks, USA TODAY
http://www.usatoday.com/story/money/columnist/brooks/2014/01/01/retirement-savings-pensions-401k-financial-planners-ira/4109141/

Things have been good this year. The stock market has had an incredible run. The economy and housing are starting to turn around. And we have all saved enough money to live an incredible lifestyle in retirement.

Well, two out of three ain't bad.

Most of us have not saved enough for retirement. I've doled out dozens of tips for retirement and common mistakes in 2013. So, as we head into the new year I'd like to remind you of some of the most important.

1. If you haven't already, start thinking about retirement and retirement planning — especially if you've turned 50. "Spend more time on retirement planning and invest more dollars for retirement," says Maclyn Clouse, professor of finance at the University of Denver's Daniels College of Business. "Do not rely only on Social Security. As Congress and the president look for ways to reduce our budget deficits, it is likely that we will see cut backs in payments to future Social Security recipients. It is also likely that the age at which you can begin to receive payments will be increased."

RETIREMENT: Your plan for the future

2. Have a plan for your life in retirement. Plan for some sort of transition, and have activities planned. "One program I teach is never retire, which deals with the psychological transition into retirement," says author and former financial planner Frank Maselli. "The typical structure is a man has been working 35 years. The spouse has been home. Suddenly the husband is home. It can be the cause of family stress and many families exploding or imploding. Take normal stress of a transition, and throw in the fact that your wife can't stand seeing you all day."

3. Don't let family members throw your retirement off track. We all love our kids, but financial planners warn to be careful not to let them hurt your retirement preparations. Retirement accounts are not a good way to fund a college education. There are so many more options for saving for college, and with a little planning you can keep you retirement on track and send your child to college. Also, parents should have a plan for when the kids return home, whether it's after college or because some of a life emergency.

"You have to draw some lines and limits," says Lynnette Khalfani-Cox, founder of AskTheMoneyCoach.com. "Nobody has an infinite amount of cash. We want to help our children or grandkids. For most Americans it is a challenge to secure a comfortable retirement of their own, let alone help extended family."

4. It's never too late to start saving, but late starters need to temper lifestyle expectations. If you are 50 or older, you need to start thinking about changes you need to make to be able to retire. Some may have to keep working to make up for all those years of not saving. Others may have to sell their homes or downsize.

5. The possibility of running out of money in retirement is real for millions of people. You should not underestimate your life span. There's probably a good chance you will live into your 80s or 90s. And if you don't have a well-thought-out plan, you could outlive your savings. Planners recommend that people consider delaying retirement.

"If a married couple retires at 65 , there's a good chance one will live into their mid-90s," says Joe Heider, regional managing principal for Rehmann Financial Group in Cleveland. "If you live another 25 years, you're in retirement for half of your working life. If you retire at 60 you are almost in retirement as long as you were working, and you need to account for inflation."

6. If you are planning to continue to work in retirement, you may be in for a shock. Many people who have not saved enough plan to make up the difference by continuing to work and delaying retirement. Problem is, for a variety of reasons, many people are not able to work into their 60s. The biggest reason is health issues. But, yes, age discrimination is an issue as well.

POLL: Half of older workers plan to retire later

7. Don't underestimate health care costs in retirement. "A shock that I've seen that devastates people in retirement is unanticipated medial expenses and health issues," says Kent Caldwell-Meeks, senior director of investment and fiduciary services at Wells Fargo Wealth Management Group. He says people will be in retirement for 20 to 40 years, and need to have a financial plan that accounts for that.

HEALTH COSTS: Ways to help with health care in retirement

8. The less debt you have going into retirement, the more likely you are to find success in your retirement. "Anybody who is seriously thinking about preparing for retirement must reduce their debt," says Khalfani-Cox. "This goes into a number of areas, not just credit card debt. There's mortgage debt and even student loan debt, because so many older Americans have gone back to school and financed their education or co-signed for their adult children. All of that debt is really a ball and chain around you if you are going into your golden years."

9. Figure out how to make Social Security work best for you. Most financial planners recommend that you delay taking Social Security for as long as you can. That makes sense in that every year you delay receiving Social Security, your check increases by 8%. But the truth is most people cannot afford to wait. A good financial planner will work with you to figure out what strategy is best for you.

PLAN AHEAD: What age is best to start taking Social Security?

SOCIAL SECURITY: What you don't know about it can hurt you

"It's true that the longer you wait, the more you get," says Jeff Bucher, President of Citizen Advisory Group in Perrysburg, Ohio. "But that's not always the easier plan for everybody. We look at the holistic portfolio and all the choices. If we wait till 70 that will be the max age, and for some people they can't do that. Even at 66 or 67, some people need that money earlier. When you boil it down, Social Security is a significant amount of retirement income, but little planning goes into what to elect to get. There are different strategies to maximize what you get."

10. Do not be too conservative in your retirement savings. "There is a tendency to for people in retirement to be way too conservative in their investments," says Heider. "They no longer feel the need to hedge against inflation. Most need exposure to the equity markets. They have to have some exposure, in most cases, if they are going to have a reasonable expectation of maintaining that nest egg during retirement."

by Rodney Brooks, USA TODAY
http://www.usatoday.com/story/money/columnist/brooks/2014/01/01/retirement-savings-pensions-401k-financial-planners-ira/4109141/

6 Retirement Business Opportunities

Fri, 29 Mar 2013 13:02:21 +0100

Below are Six low capital but profitable businesses for Retirees that can be started from home

1. Ebay trading – There was a survey carried out that most households have at least $1000 worth of products that they no longer require that can be sold on ebay.. For free training on how to become a Powerseller on ebay go to www.becomePowerSeller.co.uk

2. Affiliate marketing – selling other peoples products for a commission. This is a simple strategy anyone can do as you don’t carry stock, don’t need a website, you don’t handle the sales processing or customer. Go to www.StartMyOwnInternetBusiness.biz for training on how to get started.

3. Become a Published Author - A book written by you tells the world you are an authority in your field. Publishing a book is a great way to earn an income from the road, because no matter where you go, your book is going to be earning money for you. Learn more about how to become a Best Selling Published Author at www.MasterBookPublishing.com

4. Blogging. - Blogging is a website (don't worry no website skills needed) that you update every day with posts about your chosen subject. Pick a market niche you're familiar with as the topic for your blog. Every day post on your blog. Of course that's not all you need to do. You have to get people to your blog to read it and hopefully click on your paid adverts, or on the products you're promoting as an affiliate. To learn how to create money making blogs go to www.BuildMoneyBlogs.com

5.. Start a network marketing business online and grow your team across the globe : Network marketing business helps you profit from your own effort as well as leveraging on the efforts of others. There are many network marketing business around that are good and help you to build wealth. However if you are not the kind of person that can carry and market physical products around for sale, you might want to consider an online that you are able to market to anybody in the world. Some of these online network marketing businesses are into discount travel, tutoring etc Search on google or check out www.TheBusinessForMe.eu

6. Start your own internet business selling information products

Starting a business on the internet has many advantages, it has low operating cost, it is economical to run, and you are open for business twenty four hours daily while you are able to run your business from anywhere in the world with internet access. It is one of the best line of business to start with low capital and the opportunities abound. You can market almost anything over the internet For free training and resources in starting your internet business please go to www.StartMyOwnInternetBusiness.biz

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10 Retirement business opportunities - awesome small business ideas for retired people

Wed, 27 Mar 2013 00:24:46 +0100

10 Retirement business opportunities

1. Consultancy Business

2. Ghost Writing

3. Blogging

4. Teaching / Tutoring

5. Property Management

6. Pet Sitting

7. Bed and Breakfast Owners

8. eBay Trading

9. Affiliate Marketing

10. Life and Business Coach

Get the free Retirement business book today and start Creating Multiple Streams Of Income For A Rich Stress Free Retirement at www.Retirementbusinessideas.biz

7 Business Ideas for Retired People

Wed, 27 Mar 2013 00:13:44 +0100

1. Tutoring

2. After School guardian

3. Seminar coordinator

4. Be a Trainer or Coach

a. Fitness coach

b. Diet coach

c. Nutrition coach

d. Business coach

e. Lifestyle coach

f. Marketing coach

g. Organization coach

5. Cleaning Business

6. Food Entrepreneur

7. Antique Appraiser

Get the free Retirement business book today and start Creating Multiple Streams Of Income For A Rich Stress Free Retirement at www.Retirementbusinessideas.biz