|
|
It's Not Just About Money... |
|
What Is An Entrepretiree
And Why You Would Want To Be One... An "Entrepretiree" is someone who is an entrepreneur with the intention to transition their part-time side business/hustle into their main occupation once they retire. It is a proactive approach to planning for retirement to keep you from being caught off guard should circumstances (possibly beyond your control) make the retirement decision for you. Even if you have carefully planned out your finances and timeline and are retiring on your own terms when you want to, it is still super important to have a plan on what you will do after you retire. Everyone needs a purpose, a routine, something to give meaning to their existence and motivate them to get up every morning. Ideally this would be something you are already familiar with doing that you could just step further into. Yes, you could wait for retirement and then start thinking about what you want to do next, but by then you risk losing momentum and you may conclude that it is too late to start planning your next gig. READ MORE |
What Makes Entrepretirees Unique?
Rather than running off and starting up a side business solely focused on making a lot of money quickly (and there are tons of these “ventures” out there to chase), an Entrepretiree is seeking more of a lifestyle approach to venturing into a side business which can potentially become a main business. Simply stated “money is not everything”. Yes money is certainly important but it is more of a vehicle to help you get to where you want to go, whether that is being able to travel, move somewhere else, spend time volunteering, learn a new language or instrument, or become a full time business owner. It is important to focus first on what you want to do and then figure out the money part, and never the other way around or you risk being just as stressed in your side venture after retirement are you are in your full time career before retirement. And this is not at all where you want to be. The purpose of being proactive and starting to build your retirement venture before you retire is that you have time to test it out and make adjustments to align it with your desired future now, before you jump into it with both feet. READ MORE |
|
Many Side Business That Are Perfect For Entrepretirees
Here are some side venture ideas that do not require large investments of time or money but really do bring in extra income. You can easily manage several of these at the same time. Here are some real life ventures that are currently running now:
|
Realistic Evaluations of Side Businesses for Entrepretirees
There is an endless unlimited supply of “Profitable Business” ideas and headlines about how you can make a full time income with little effort and little time. But most (almost all) are just high level headlines about someone who has made some money doing something that appears to be an easy overnight success. The idea is to convince you that you too can achieve this same success with little effort, to encourage you to click on the offer or supply an email address and then ultimately buy a product, course, package or subscription so you too can be “successful”. READ MORE |
|
Shortcut to Success From Those Who Know
One key principle to follow when starting up a new venture is to be very focused on the most important tasks first. It is very easy when starting out to get overwhelmed with all the “things” you need to do to get started….register a domain, set up a business, set up a website, advertise, hire an accountant, develop a business plan….. Yes these are all significant steps in building a new venture but they cannot all be done at once, certainly not done well. If you have attempted to do this, the result is typically getting overwhelmed and getting stuck with having too much to do in too little time, and then stopping before you even start. Does that sound familiar? READ MORE |
How Much Income Can You Make From A Side Venture?
While money is not the most important part of deciding what path you want to follow for a side venture, it certainly is something to be considered. If your objective is to be able to transition into a retirement with an established business you can scale up, you do not to be stuck in a venture which require trading a lot of your time for little money. The purpose of starting the venture is to be able to free up more of your time to enjoy life and not be tied down to the daily grind. So lets look at a some of the most popular side ventures people are starting up and see how much money you can realistically make at these and how much time is required. READ MORE |
|
Why You Might Be Hesitant To Pursue A Path To Self-Employment, And How To Overcome This
One of the big reasons folks are very hesitant to venture into self employment is health insurance. Especially as we get on in life and have families we are responsible for, having health insurance to cover medical expenses is really important. This is one of the reasons to hold onto a job at an employer who provides group coverage at reasonable cost to you, even if you hate what you are doing this benefit often times convinces people to stick with it….. READ MORE |
Top 5 Reasons You Have Not Yet Started a Side Venture
And How To Get Past Them So you have thought about starting a side venture, maybe even investigated some ideas and done some research, and even spent some money on courses, training and start-up packages, but still have not yet gotten off the ground with any ventures. Here are the top reasons why folks are hesitant to “take the leap” and how to get past these effectively: READ MORE |
Easing Into Retirement: Start A Side Business Now And Take Control Of Your Future
Planning for retirement typically includes saving enough to cover your expenses, reducing costs and maybe downsizing your home. All of this is done in anticipation of the day when you will finally be “free of working”! But will not working really bring you the happiness you are anticipating?
Or is what you are seeking a way to spend your time doing something that you are passionate about? Being constantly under time pressure and on the hook for various nonsense and then constantly worrying about restructuring and being laid off does create a lot of stress. This can sap the enjoyment out of life, but suddenly going from the rat race to idle time with no commitments does not seem to lead to ultimate happiness. In fact, my observations have been that suddenly having nothing you must do can lead to feelings of boredom, isolation, depression and having no purpose.
READ MORE
Planning for retirement typically includes saving enough to cover your expenses, reducing costs and maybe downsizing your home. All of this is done in anticipation of the day when you will finally be “free of working”! But will not working really bring you the happiness you are anticipating?
Or is what you are seeking a way to spend your time doing something that you are passionate about? Being constantly under time pressure and on the hook for various nonsense and then constantly worrying about restructuring and being laid off does create a lot of stress. This can sap the enjoyment out of life, but suddenly going from the rat race to idle time with no commitments does not seem to lead to ultimate happiness. In fact, my observations have been that suddenly having nothing you must do can lead to feelings of boredom, isolation, depression and having no purpose.
READ MORE
