Here’s One Question to Help You Know What Type of Business to Start in Retirement

*guest post by Mike Lieberman

You’re looking to start a business in retirement, but you’re not sure what type of business makes sense for you.

There are so many different types of businesses you can start these days.

Where do you even begin?

There’s one key question you must ask yourself when deciding what type of business to pursue, and if you don’t, you’ll end up wasting your time and money.

Let’s avoid that mistake all together. Shall we?

What’s the question to ask yourself?

To help you get more clarity, I sought out a retirement coach who specializes in assisting Professionals and Executives as they make retirement transitions with the life side of retirement planning. His name is Kevin Lyles of Winning Retirement Coach. He’s also the Head of Education for Rock Retirement Club.

I wanted to get his perspective for you on this since he deals with such scenarios on a regular basis.

I asked Kevin, “If a client was to say to you they’re thinking of starting a business in retirement, what’s the first question you would ask them?”

“What do they want to get out of the business?” responded Kevin. “That will lead to how I could counsel them because there are many possible answers.”

Before getting into some of the answers Kevin shared with me, let’s dive into why this question is important.

Why must you answer this question

Up until this stage of your life, the work and career part has been mostly out of necessity. It’s commanded a large part of your time over the years because there are these bills and taxes we all must pay.

As you enter this next stage, the work and career part plays a completely different role. You now have more free time and you’re not as reliant on it as your main source of income each month.

This means the type of business you choose to pursue needs to align with the greater vision of how you now want to spend your time.

That vision completely shifts the thinking about the type of business you start and why that question becomes so much more important to get clear on.

Previously work and career dictated how you spent your time, now you have more control over it.

So let’s get clear on what you want to get out of your business to make sure it aligns with your vision.

Ok?

Five common answers

Kevin shared five common answers to “what do you want to get out of your business?” with me.

So let’s dive deeper into each of them.

1. I need the income
If you’re retired and you need to replace your income to continue living, you might consider continuing to work or seeking other employment.

Let’s be real. Starting a business is not easy and it’s not going to be instantly successful overnight. It’s going to take time to start producing income, if it ever does.

So if you need the business to replace income dollar for dollar, take other options into consideration.

Though if you’re within a few years of retirement and think you’ll need to replace the income, now might be a good time to start. That way you can build up the business without the pressure of instant success.

2. Extra spending money
Your financial retirement plan might be rock solid and your financial needs are met with your pension, 401K and/or savings.

What you might want to get out of your business might be extra play money.

Each year you want to take you and your entire family on a vacation.

There’s a charity you’re passionate about and want to donate to them financially.

Maybe there’s a lavish purchase you want to make for you or a loved one.

Starting a business can help to reach that goal.

3. Build a legacy for your children
Building a legacy to pass down to your children can mean many things.

It might mean building a business to hand down to your kids.

Possibly it’s building more wealth to hand down to future generations.

The legacy could be leading by example and showing your family that anything is possible at any age.

Leaving a legacy such as these might be what you want to get out of your business.

4. Solving problems for others
It’s common for people to start a business around something they’re good at and can help others with.

“That was something I liked to do,” said Kevin. “During my legal career I was working mostly for corporate clients, but I really liked helping them with their problems. So this way (through coaching), I can do it on a much more personal level to really help counsel people through their retirement transition.”

5. Purpose and meaning
As mentioned earlier, work has taken up so much of our time during our life. There will now be the large void of time.

“That’s a problem a lot of retirees face after working,” said Kevin. “If they’ve been working 10-12 hour days for 30-40 years, now they wake up and don’t know what to do with themselves. Having a business can really fill that void and give them some purpose and reason to get up in the morning.”

“If they’ve been working 10-12 hour days for 30-40 years, now they wake up and don’t know what to do with themselves.”
– Kevin Lyles, Winning Retirement Coach

Those are just some of the answers to help you get some clarity and start thinking.

Once you know what you’re looking to get out of your business, you can now focus on the details around the structure and opportunities that support your vision.

Remember “thisisyourbestyear”–make the best out of your retirement years.

**Mike Lieberman is the founder of Retirement Redefinition. He created the site to help you define your retirement lifestyle and start an online business that fits it.

Top Jobs For Seniors Who Want To Work After Retiring

*Guest post by Tina Martin

It’s not uncommon for seniors to decide to return to the workforce part-time after retirement. There are many benefits to taking this route. For one thing, research shows that individuals tend to be happier in retirement if they keep busy and maintain a sense of purpose. A fulfilling part-time job can help towards this end. 

Money is another obvious motivator for those who choose to get a job after retiring. Many seniors worry about running out of money without a steady income. According to the Journal of Accountancy, it’s actually the number one fear among retirees. 

Not sure what job to pursue? Get inspired with the below ideas.

Sell insurance

Many people need to purchase insurance, so working in the insurance industry can be an excellent option for seniors, especially if you have a background in sales. For example, you could sell life insurance to other seniors, and you may be able to take on friends and family as your first clients. Before you look into selling insurance, research the best options for retirees.

Teach English as a second language

One key to figuring out what career path to take after retirement is to consider your transferable skills. Whatever you were doing before retirement may still serve you afterwards. If you worked in education, for instance, you might consider teaching English as a second language, either for kids or adults. 

If you want to go this route, you should get an ESL teacher certification. With this under your belt, you can apply to area language schools for part-time gigs or work on a freelance basis for yourself. The latter option gives you great flexibility in terms of timing, as you can decide when and where to work, and decide how many students to take on based on your availability and interest.

Become a tour guide

A tour guide job is a wonderful way to keep your mind active. You will have to memorize facts and statistics, and continually brush up your knowledge. This kind of brain activity will keep you sharp and stave off mental decline. Research even shows that such brain challenges can help prevent Alzheimer’s disease. You’ll also benefit from physical activity, as the job requires you to be on your feet and continuously moving. 

There are tour guide jobs available to suit all types of tastes. If you are interested in art, history, and architecture, you can check out a gig at a museum. If you would prefer to spend time outside, take a look at the platform ToursByLocals, which allows you to present tours around your hometown to interested visitors. This is also a fun way to meet and interact with diverse people from different places, cultures, and countries. 

Consider seasonal work to get started

Reentering the working world if you’ve been retired for a few years may be daunting at first. Get your toes wet by starting off with a seasonal job. There are various senior-friendly options available, such as wrapping gifts for stores. There are also non-holiday related seasonal jobs available. This AARP list suggests options like tax preparer, tutor, and National Park Service employee.

Explore the above options and you are sure to find a post-retirement gig that interests you, even if that involves launching your very own home-based business. As you reenter the workforce, you will also benefit from the increased contact with other people, which combats the isolation that sometimes comes with age. A part-time job will thus pave the way to a happier and healthier retirement. Remember “thisisyourbestyear”.

*Tina stays busy as a life coach and works hard to help herself and her clients achieve a healthy work-life balance.

NOW ON YOUTUBE–BOSS WOMEN AND US!

We’ve started a new series, in fact, we’ve started a YouTube Channel. The channel is “thisisyourbestyear”, and we have been hard at work on it.

In the past we have had one or two videos that we have shared on YouTube, but we have now decided to go all in so that we can keep you informed on all levels. We’ve decided to expand the blog.

Our first official venture is a series that we entitled “Boss Women”. These are women who are entrepreneurs, community leaders and more. These are women who work hard while multitasking. These are “Boss Women”, women who are the “boss” of not only their businesses, but their lives.

Each boss woman is different in the ways they came into their entrepreneurial self. Some knew from the very start while others worked in corporate and decided it was not for them, retired or maybe stayed home to raise the children, and now find themselves empty nesters.

There will be so many other things that we will post to YouTube in the future. We’re working all the kinks out of our recordings, doing research on equipment we need (and can afford) to make the videos better.

If you are a “Boss Woman” or know a “Boss Woman” who might want to be interviewed for our series send us an email. We want to showcase their businesses and them. Just by interviewing them may give another woman the sign they need to becoming their own boss.

Remember you can now read us on our website and on these social media sites. Each one of them may have something different so give them a look.

  • Facebook—thisisyourbestyear
  • Instagram–thisisyourbestyear
  • YouTube— thisisyourbestyear
  • Tumblr—- thisisyourbestyear
  • Twitter—- thisisyourbestyear@mariciajohns

Remember “thisisyourbestyear”, and this journey of women of a certain age gets better because we are the “boss” of our lives.

4 Tips For Taking Your Home-Based Business From Couch To Dream Office

*Guest post by Tina Martin

Many women of a certain age have decided they want to start their own business and work out of their home at their leisure. One of the main problems they/we run into is that we have always worked in an office setting. This post by Tina Martin will help you turn your couch into an efficient office.

Is a lack of space holding back your home-based business? Workspace challenges are one of the most common obstacles that home-based business owners face, so you’re definitely not alone with these woes. If you want to have your best year yet, and help your home-based business thrive, however, you have to find creative ways to solve those home workspace challenges. So if you are ready to take your home-based business to the next level of success, here are some tips for creating your dream office at home: 

Bigger Business Dreams May Require a Bigger Home

Sometimes what you really need to create your dream home workspace is to move to a bigger place. You can research local home prices to see if this is a reasonable move for your new business ventures—home sale prices in Fort Worth are averaging $255,000. Keep in mind that having more space means more options for creating a home office and organized storage. So if you would need to rent storage space or an office, moving to a new home could actually save you some serious cash in the long run. Aside from financial and business considerations, other signs that you need more living space are dealing with clutter in your current home or not wanting to deal with the high costs of renovating. If you feel like your quality of life or productivity is suffering, it may also be time to buy a bigger home. 

Smart Home Office Design May Require Outside Help 

When business is booming, you should consider any investments you make into your new home workspace as investments in the future success of your home-based business. This includes any fees you may pay for professional designers, who can help create the best layout for a productive home office. If you’re concerned that hiring professionals is outside your budget, Business Insider explains that some companies offer free design services, or will at least provide a cost-free consultation. These services are often complimentary when you purchase home office products from major retailers like Pottery Barn or West Elm.

DIY Renovations Can Boost ROI on Home Workspaces 

If you feel comfortable wielding tools, then you may be able to save even more on your new home workspace. That’s because by using DIY websites to tackle renovation tasks and project to-dos, you will be able to avoid paying hefty contractor fees. These sites are full of resources for handy homeowners and home-based business owners, including tips for putting together a project budget and tutorials for building custom furniture. So if you have the time and attention to detail, refer to these DIY resources to create your dream home office. To keep those DIY projects from becoming disasters, you will want to consider some key points before you start. Safety should always be top concern, so leave more complex remodeling jobs to professionals. 

Small Touches Can Help Keep a Home Office Organized 

Once you have the bones of your new home workspace all worked out, you can move onto the finer details. Just keep in mind that design and decor details can really make or break the feel of your home office, so give these touches the same consideration as major project elements. For example, the paint colors you choose for your office walls can either hinder or help creativity and productivity. So if you want a burst of energy during your workday, opt for a sunny yellow color, but if you prefer to enhance your concentration, warm hues of pink or peach may be best. Decor can also play a key role in improving your home office space and can even add storage—consider getting a few decorative bins, which you can buy on Amazon for $29.99.

There are so many perks to having a dedicated workspace in your home, especially if you are trying to grow your home-based business. Creating your dream home office can help you keep your life balanced, and it can also offer a space to keep you productive. Plus, you may even be able to take advantage of tax benefits that will give you more room for future business projects.

Remember “thisisyourbestyear” let’s get busy.

* Tina stays busy as a life coach and works hard to help herself and her clients achieve a healthy work-life balance.

Maybe We Should Be More Like Millennials

So we have decided that we will continue to work after we retire. We want to do something different, something that we have always wanted to so. Something that feeds our soul and our passion. Maybe we just want to do something where we are productive, something where there is a chance to get out of the house and communicate with others. There are many reasons that women and men of a certain age want to continue to work after their formal retirement.

Most of us remember when we first started to work and people would wonder if we were old enough for the job. Guess what? Now they wonder are we too old for the job.

You see that gray hair can be a giveaway to our age, and age discrimination is real. I know there are millennials sporting the gray look, but for the most part they get theirs out of a box.

Take it from someone who has finally divorced hair color and decided it is what it is. It does seem interesting that most of the people in power around the world are gray haired or other unnatural hair colors, but when it comes to getting a job it is a deterrent to the interviewer. It’s hard to even get an interview or get through the interview when the interviewer sees you as his mother or God forbid his grandmother.

This article by columnist Mitchel Schnurman recently appeared in the Dallas Morning News. It is an opinion piece, but personally I think it speaks the truth. Does gray hair stop you from getting pass the interview?

Then it hit me, maybe we should follow the lead of the millennials. Remember when we wouldn’t hire them because their hair was blue, hot pink, too long, dredded or whatever? What did they do? They started their own businesses. Why not start our own business doing what we want? We have the time, the experience and education so why not go for it?

Millennials did not wait for baby boomers to hire them so why are we waiting on them to hire us? We taught them to go for it. Let’s take our own advice and just do it.

Remember “thisisyourbestyear”. What are you waiting for?

Cause She’s Not In The History Books

We at “thisisyourbestyear” take this time to honor those that should be in the history books, but are not. Their accomplishments, sacrifices and more all have to be researched and only given one month of the year recognition.

*Since we are a blog for and about women of a certain age, we chose this year to highlight women in American History who are Black. There were so many that it was difficult to narrow it down to one person, but we did. Her story is inspiring.

We are featuring someone that none of us really knew about, we are featuring Mabel Fairbanks who was a figure skater. Mabel was fascinated by skating when she saw a movie featuring then skating sensation Sonja Henie. As luck would have it she found a pair of skates in a pawn shop, and talked the owner down on the price. After purchasing the skates which were two sizes too big, she stuffed cotton in the toes and taught herself to skate. She would go to Central Park to skate in competitions making 6.0’s, but could not join a club because of her race. Therefore, she could not participate in any other competitions or practice at any rink.

She was persistent and eventually one skating rink allowed her to come in after the rink closed to practice. This story is about more than her finally finding her way outside the United States to skate, it’s about Mabel’s legacy.

She may not have gone to any competions because no club would take her, but she was finally able to skate in the Follies in the states, then barred from seeing her shero Sonja Henie by Sonja herself. Her legacy has come to the surface and lives on. Mabel became a coach. Not just a coach, but a coach of champions.

She is credited with helping the careers of US and world champions such as Scott Hamilton, Atoy Wilson, Tiffany Chin, and 1970s champions Tai Babilonia and Randy Gardner, whom she put together as a skating pair. She also coached Kristi Yamaguchi, the 1992 Olympic gold medalist, in her early days, and also first paired her with champion Rudy Galindo.

She’s not in the history books, but she should be. Her strength gives us strength. Because of her, and people like her we can.

Remember “thisisyourbestyear”. Black History is American History.

*Go to our Facebook page–thisisyourbestyear to see more Black women we honor during the month of February because they should be in the history books.

Reset and Reinvigorate by Rethinking Your Career in 2019

*Guess post by Eva Benoit

If you’re stuck in a rut, there’s no better time to pull yourself out than now. It’s never too late to make changes that will improve your quality of life. Starting a new career is one of these changes, and it’s a big one that comes with both enthusiastic anticipation and fear for the future. However, you can’t let fear of the unknown get in your way. Keep reading for a few tips on how to cross this fragile ground no matter where life has taken you to this point.

If you are stuck in a rut, there’s no better time to pull yourself out than now. It’s never too late to make changes that will improve your quality of life. Starting a new career is one of these changes, and it’s a big one that comes with both enthusiastic anticipation and fear for the future. However, you can’t let fear of the unknown get in your way. Keep reading for a few tips on how to cross this fragile ground no matter where life has taken you to this point.

Do You Have What It Takes?

What do Oprah Winfrey, Sofia Vergara, and Arianna Huffington have in common? They are all successful female entrepreneurs who aren’t afraid to take risks, they’re all tenacious and a little stubborn, and they give of themselves 100 percent of the time. They are adept problem solvers who aren’t happy unless they’re on the move. If this sounds like you in more ways than one, you were undeniably born to be the boss.

You Are Not Alone

Our mothers and grandmothers were expected to stay home, raise babies, and make life better for their men. These social standards weren’t necessarily bad, but considering that women-owned businesses are growing at a rate of more than twice that as standard businesses, it’s safe to say that we got restless. Coupled with an ever-growing need for dual incomes, women-owned businesses, according to American Express, are more prominent than ever, with approximately 39 percent of all US businesses being led by women.

Despite the rise in female entrepreneurship, it’s not always easy. Today, experienced women are offering their guidance to new business owners. Reaching out to a mentor is one of the best ways to access information and receive help navigating the seas of success. Experian touches on mentorship, funding obstacles, and other statistics regarding women in business here.

Like a Boss

Starting your own business isn’t something you do on a whim. If you want to stand out from the crowd, you’ll have to take stock of your skills and define your niche. Have a heart-to-heart with yourself by drafting a business plan and recognizing your strengths and weaknesses. Test the waters by seeking clients via word-of-mouth and working on small projects first. FindLaw.com underscores this point by stating, “By starting small, you ensure that you can survive the inevitable hiccups associated with running a small business.”

Once you get into a groove, you can take steps to nurture and grow your business. This is achieved by being consistent and having the right tools at your disposal to get the job done. If you work from home, for example, you’ll need to set up a well-equipped office space with a comfortable working area and a computer that can keep up with your demands. Further, don’t make the mistake of thinking you know everything; listen to your customers. They will tell you what you’re doing right and what you need to change. As the face of your business, it is your responsibility to hear these voices and to provide services that will add value to your relationship. It can help to take a customer service training course to help you learn how to communicate and respond to both praise and criticism.

It doesn’t matter how old you are or how long you’ve been in your current profession. Even if you’re retired, it’s still possible to earn an income doing something you love. It may be a rocky road in the beginning, but with determination and a willingness to adapt to an always-changing market, you can both love and live your passions this and each new year.

Remember “thisisyourbestyear”. It’s a new year, and time to reset and
reinvigorate your purpose by rethinking and your career.

*Eva Benoit is a professional life, career and wellness coach. She specializes in helping people with anxiety and welcomes working with people from all walks of life.

Interview Prep: How To Get Ready To Snag The Job Of Your Dreams

by Erica Francis

Interviewing for a job–especially when it’s a job you really want–can be overwhelming and stressful, which can cause issues for you when you’re speaking to the person in charge of hiring. You want to be relaxed, confident, and prepared in order to show how well you can handle yourself under pressure; this will give your potential employer a good idea of what you’ll be like if you’re hired. It’s not always easy, so it’s important to prepare as much as possible before the interview so you’ll feel comfortable.

Fortunately, there are several things you can do to get ready for the big day. From holding a mock interview to get familiar with possible questions to looking for ways to boost your confidence, you can start preparing weeks ahead of time. Ask a friend or family member to help you out, and start thinking about your physical appearance as it can be important when it comes to a first impression.

Keep reading for some wonderful tips on how to prep for a job interview.

Hold a mock interview

Ask a friend or family member to help you hold a mock interview; you can find some possible interview questions here. Thinking about your answers will help give you confidence on the big day and will prevent you from fumbling over your words when speaking to your potential employer. Think about how you want to present yourself, and write down sample answers to prepare; remember to speak eloquently and professionally, as this will reflect on you and your ability to interact with clients.

Get ready for your first impression

First impressions are incredibly important when it comes to job interviews, because it’s your chance to let your employer know what you’re all about. Don’t underestimate the power of a great outfit or a good haircut, and consider buying some new makeup or hair styling tools to help boost your confidence and give yourself a leg up on the competition. Go here for some great tips on how to get started.

Do some research

It’s imperative to do some research on the company you’re interviewing with so that when you’re asked what you know about their history, you can show how invested you are in the job. Get online and find out how many people they employ, what year they were founded, who the president is, and what their goals are. For instance, many companies these days are making more of an effort to go green for the environment; if this is important to you, it’s a great talking point in the interview.

Get some sleep

It can be difficult to get good rest the night before the big day, especially if you’re nervous. However, it’s imperative to get a good night’s sleep so you’ll be fresh and at the top of your game. Put away all screens–computer, television, and smartphone–at least an hour before you go to bed, and refrain from drinking anything with caffeine or eating meat (which is hard to digest and can interfere with your ability to go to sleep).

Getting ready for a job interview can be nerve-wracking, but it doesn’t have to be overwhelming. The best way to stay calm is to prepare as much as possible beforehand, and to give yourself plenty of time to do it so you won’t feel pressured. With a good plan and a little help from a loved one, you can make sure you’re ready to blow away your potential employer and snag the job of your dreams.

Remember “thisisyourbestyear”–be prepared to nail that job interview.

5 Simple Steps For Landing A Seasonal Job During The Holidays

*guest post by Erica Francis

seasonal employment

5 Simple Steps for Landing a Seasonal Job During the Holidays

Interested in a little extra cash this holiday season? A seasonal job is a great way to buffer a period of unemployment or offset your spending on gifts. It might even be just what you need to get your foot in the door for a more permanent position of employment. Check out these tips to help you land the perfect position this holiday season!

1. Consider if a Seasonal Job Right for You

Before you start searching for seasonal work, go over the pros and cons with yourself. On top of making some extra money, seasonal jobs can get you big discounts on holiday purchases and help you build up your resume for future job searches. But the work doesn’t come without its drawbacks. Many seasonal jobs offer low pay and little training so they may not be great options if you’re looking to advance your career. Additionally, you have to be ready to accept a tough schedule, which may involve working during evenings and weekends. This can conflict with travel plans and reduce your free time to spend with friends and family,

2. Take a Look at Your Options

Not all seasonal jobs are retail positions. Although you may be happy to fill in at the mall during the holiday rush, you have other options. Customer service representatives, social media assistants and seasonal recruiters are in high demand during the holiday season. Additionally, seasonal decorators and event planners are highly sought after by stores, offices, and homeowners alike. You may even want to consider personal gift shopping or working as a professional Santa. If you aren’t interested in a holiday position, pet sitting might be a great option for you. Many people travel during the holidays and need someone who can tend to their pets while they’re away.

3. Start Searching for Opportunities

Care.com recommends seeking out work that you enjoy rather than taking the first job that comes along. You can find hidden career opportunities by looking for entry-level positions in a field that you enjoy. If you’re interested in fashion, try applying for work in a clothing store. If you like journalism, start with a job at the library. Try to network as much as possible by talking to friends, family, and even strangers who may be able to help you get a lead on a job. Reach out to people online and be sure to meet them in person to establish valuable relationships. Volunteering in your community during the holidays is a great way to make connections, gain references, and test out your field of interest as well.

4. Polish Your Resume

Seasonal work is competitive, so make sure you apply with an eye-catching resume to set yourself apart. Personalize your resume for each job you apply for, paying close attention to the skills and experience required by the position. If you have gaps in your work history or many seasonal jobs, try switching up your resume format to focus on skills and experience rather than past employment. Consider putting your related skills near the top of your resume so managers can see that you would be adept at the position. Have a separate section on your resume for any past temporary positions labeled either “holiday” or “seasonal” so recruiters don’t think you frequently hop between jobs.

5. Ace the Interview

Although the job you’re applying for is temporary, recruiters will still put you through a thorough interview. Be prepared to answer questions about your flexibility, why you’re interested in temporary work and what your plans are for when the season ends. Don’t forget to do your research on the company and have a familiarity with their products and services.

Although the holidays are rich in employment opportunities, start looking for work early. According to Snag, over half of employers have already filled their seasonal positions before the busy seasons starts. You’ll have more options to choose from if you get a head start. That way, you’re more likely to land a job that you can actually enjoy.

Remember “thisisyourbestyear”.  Let’s get that job!

*Erica Francis has an important mission: to help people prepare for successful careers in today’s tough job market. At ReadyJob.org, Erica helps develop lesson plans and other educational resources, all geared toward helping the site’s visitors build the skills needed to excel in any workplace.

Walking The Walk

I am sure there are others, but Mrs. Doreetha Daniels at the age of 99 is one of my inspirations.  After taking decades off she decided to give college a try. This lady has had a successful career, successful marriage, raised a family and has great-grandchildren. Getting a degree was something that she always wanted to, but as it is with a lot of us life just got in the way.

Her story is one that many people have endured. Some of things that she endured are listed below.

  • Unable to meet state residency requirements
  • Got married
  • Raised a family
  • Death in the family
  • Illness
  • Too old
  • Transportation problems
  • Unable to use technology
  • And on and on…..

None of these things deterred Doreetha Daniels from doing what she sat out to do.  She received her Associate’s Degree just before her 100th birthday and has not decided what she will do next–maybe a Bachelor’s Degree.  Sounds kind of like the average college graduate.

Take a look at Doreetha.  Let her be an example for all of us. She is a woman of a certain age who sat a goal and accomplished it.

What’s stopping you from accomplishing your goal of a new career, starting a business, traveling, writing, becoming a chef or anything else?

Remember “thisisyourbestyear”.  You can do it. Read more about Doreetha’s journey here.