Retire when you want, where you want–you just need an independent stream of income!
Looking to retire at 50? 40? Even 30? You can if you’re making money after retirement.
Start your online business now and have it up and profitable when you’re ready to pull the retirement trigger–no matter what age you are!
Why Should You Set Up An Online Business?
So what will an online business do for you in retirement and why should you set one up? There are some huge benefits you will get from creating your own website and making money online:
~ An online business is one of the easiest to start. With the technology today, you can create your first website in less than 3 minutes–no coding or technical knowledge needed!
~ It takes time to build your business and bring in enough traffic to be profitable. If you start your business now, you will already have your income stream as you enter retirement.
~ Once you’ve developed your website into a profitable business, you can scale it up to achieve unlimited income!
~ An online business has very low start up costs, so it’s perfect for those wanting to develop an independent stream of income but who don’t have a lot of extra money.
~ You can run your business from anywhere you can use a laptop that has an internet connection. So your retirement travel and activity plans won’t have to be set aside to keep your income coming in.
~ As you get older, it may be hard to keep working at other part-time jobs in retirement if they require more physical activity. As long as you can work on a laptop, you can keep your online business growing.
~ You’ll have no commuting costs since you’ll be working from wherever you are living or vacationing, and this will keep your transportation expenses down.
Online businesses are ideal for retirees and anyone looking to retire early and work from home.
If you start your business and take the time to make it profitable now, there will be no pressure in retirement for how long it takes to be making consistent income!
That time frame is one of the biggest hurdles that many beginning entrepreneurs face. For a good general timeline for how long it will take to make a full time income with your online business, you can read How Long Does It Take To Start Making Money With Affiliate Marketing?
==>==> Get my Proven 5 Step Plan To Make Money With Affiliate Marketing <==<==
What Type Of Online Business Can You Start?
The type of business you start will be the first decision you need to make. Do you want to start a blog? Sell products? Review and promote products? Write and sell eBooks?
As you can see, there are many different ways to make money online–you’ll want to decide which one is the best fit for you starting out. Here are my favorite picks:
==>==> Is your dream job to work at home and make money online? You can do it here! <==<==
~Affiliate Marketing
My favorite in this list is definitely Affiliate Marketing! On your website you basically review and promote products, and then provide links for your visitors to go to retailers where they can purchase them.
If they make a purchase, you’ll receive a commission that runs anywhere from about 5% all the way up to 80% depending upon the products and retailer!
There’s no selling, no stocking an inventory, no customer service, and no shipping. What you will be doing is promoting products by posting reviews and informative articles.
Beginners can do very well as affiliate marketers, especially if they choose a niche for their site that they have a passion for.
There are many, many retailers that have affiliate marketing programs in any niche, so you can make money no matter which one you decide on.
You can get more information about starting an affiliate marketing business here.
~Blogging
Many entrepreneurs who are just starting out decide to start blogging. You can create a blog about any topic you have an interest in or passion about and then write articles that entertain, educate, and inform your visitors.
There are several ways to monetize your blog, with ads being the main source of income. Blogging is not as lucrative as affiliate marketing, but your profits will increase as your traffic increases.
~Selling Products
You can sell products online with an eCommerce store. A couple of the most popular platforms you can use are SaleHoo and Shopify. Both of these have an online storefront where you can create beautiful sites for selling your products.
SaleHoo also has a wholesale supplier directory that you have access to for a very reasonable annual fee.
There are over 8,000 reputable suppliers and training on how to pick products to sell, which are great features for beginners.
==>==> Check out SaleHoo Now <==<==
No matter which eCommerce storefront platform you choose, you can use SaleHoo’s wholesale directory to find dropshipping suppliers who will keep your inventory and ship your merchandise to your customers.
I definitely recommend that beginners look into the pros and cons of dropshipping and see if it is right for you!
==>==> Check out Shopify with a free trial here <==<==
~Create and Sell eBooks
Do you have enough information to write a 20+ page eBook? If you are knowledgeable about a topic and
can entertain and educate people, writing eBooks can be a very successful and lucrative online business.
There are so many ways to self-publish and sell eBooks that you can become a best-selling author in no time!
For a beginner I suggest going with Amazon Kindle Direct Publishing. Amazon makes it easy for you to publish, and they have a huge potential audience.
Once you get a little more experienced and want to expand, there are many more options available that may suit your needs better–Blurb, eJunkie, Nook, iBook, CreateSpace, Lulu, and many, many more!
==>==> See the legitimate program where I learned to make money online <==<==
Ideas For Your Niche After Retirement
Once you’ve figured out what type of online business you want to create, the next step is figuring out your niche. Why is this important?
In order to be successful, you’ll need to narrow down your niche so that you can target a specific audience to market to.
If your target audience is too large, it will be hard to convert your visitors into sales. This is because you are bringing them to your site when they’re still in the browsing stage.
By narrowing down your niche, you will be bringing these visitors in when they already know what they’re looking for and are closer to making a decision to buy.
To better understand this concept, we can take GolfBalls.com as an example. They didn’t start off with golf as a niche, they started off with their niche narrowed all the way down to just golf balls!
Then as they got bigger and more successful, they scaled into more and more products related to the golf industry.
This article by the owner and founder of Wealthy Affiliate, Kyle, illustrates how GolfBalls.com turned a small, specific niche into a multi-million dollar a year company–Succeeding With Golf Balls, Scaling With Shoes!
How Do You Create An Online Business?
OK, you’ve decided on the type of online business that’s right for you and narrowed down your niche, what next?
Your next step is actually creating your website. This is the step that intimidates most people, but it is actually the easiest!
There are many platforms out there that will host your website. Website hosting is basically the service that you purchase that enables you to have your website on the internet.
My #1 recommendation is the one I currently have 6 websites hosted with, Wealthy Affiliate. How do I know that it works? Because they taught me everything I know to start an online business and make money online
Their secure hosting is world class, and you can create 2 WordPress websites for free, get online business training, and have access to an active community help forum–without even putting down a credit card.
After you get started, you’ll want to own your own website domains. You can get training that teaches you how to choose a great domain name, and most cost just $13.99 per year.
One of the great features of Wealthy Affiliate is that you can join their premium membership for just $49 per month. With that you can have up to 50 websites, get live chat support, more intensive training, and much more along with the community forum.
The Key To Passive Income In Retirement
No matter when you want to retire, it will be a huge benefit to have an additional stream of income. If it’s passive income through an online business, that’s even better!
But getting that business going and profitable before you pull the trigger and retire can be one of the biggest advantages you’ll have. You may be able to live the laptop lifestyle a lot sooner than you could have ever imagined!
If you’re close to retirement, it will enable you enjoy the time you’ve worked so hard for your whole life and help keep your nest egg intact.
==>==> Is your dream job to work at home and make money online? You can do it here! <==<==
Do you want to create passive income in retirement? Are you looking to retire early and need another source of income? We’d love for you to share your thoughts and experiences in the comments below!
Hi Janelle
I’m 52 and this is an opportunity that I wish had been available to me in my 30’s or even my 20’s!
Out of all the online business models you highlight here, I would definitely agree with your conclusion that affiliate marketing is the one to go for in terms of it’s potential to develop multiple passive income streams for people with specific interests and hobbies, and of the World Class online training that is available through such programmes as Wealthy Affiliate.
I’ve said more than once that I wish I had been able to start my business 25 years ago! You just can’t beat the education and valuable features that WA offers, especially for a beginner. I’m not sure that I would’ve stayed with it without the support and mentoring from the members of their community–it’s just awesome!
Nowadays you can really retire at any age because of the possibility of creating a stable income from an online business. It has the potentiality to reach the whole world and make you earn money even in your sleep.
When one does affiliate marketing as you suggested, the sky is the limit to the revenue you can make. It is easy to start an affiliate marketing and it takes patience to see the first fruit, but it is possible for you to make five-figure income and retire wherever you want.
Thanks
Patience is definitely the key when trying to make money with affiliate marketing. So many people create great websites with the potential to make a terrific income, but they don’t stick with it past 3-4 months.
I wish you continued success with your online business!
Retirement was not easy for my dad and that affected my education a lot and as such, I have vowed not to trend his lane. However, I was clueless as to ways to making passive income online. I did heard about affiliate marketing and I’m glad you have dissected everything down to the minimum level that a beginner like me would understand. Thanks for this and maybe I will try affiliate marketing too to see if I can make passive income.
I’m so glad you found it helpful, and let me know if there’s anything I can do to help you get started, let me know!
Hello Janelle,
I have just read your article on making money after retirement, fabulous article, i really enjoyed your article, it was very interesting. I think Lots of people need to make money after they retire to be able to live a comfortable life and this is the great way to go. I would love to earn lots of money from home and make a retirement fund. I think blogging and affiliate marketing combined really give the best results. Everyone needs to read this article It’s full of great information to start an online business!
Blogging and affiliate marketing are a great combination, as well as one of the lowest cost ways to start an online business–good luck!
Thank you so much for sharing this article. Everyone want an extra stream of making money. Even as it is now one need to making money while asleep and that can only be possible having online business. Wealthy affiliate can ensure extra income. Many ways to make money are listed example writing an e-book, blogging etc. This article is really helpful. Thanks
Glad you found it helpful–thank you for taking the time to comment!
Hi Janelle, How long do you think it would take to build a profitable business online on average?
I have not that long ago started my journey into building an online to build financial security and retire early, even though I am younger, I do not wish to be tied up in working for others the rest of my life.
This article has great insight on where to start and how to start. I am a member of Wealthy affiliate and highly recommend them. I have learn so much already in the period I have been on here. Though I have a long way to go I feel confident I am heading in the right direct of early retirement.
There are so many variables involved in building an online business that there’s really no way to give you an average time. I did, however, write a blog awhile back that gives a basic timeline along with the things that can affect it. You can read it at How Long Does It Take To Start Making Money With Affiliate Marketing?
Good luck with your new business, and I wish you every success!
The internet is large and it accommodates every one irrespective of age bracket. This post is very informative in fact one can begin to plan his retirement by investing In a niche. You are right to recommend affiliate marketing and blogging and you can bet that as long as population of the world increases they will still be lucrative
Affiliate marketing isn’t going away any time soon! It’s such a great way for companies to spend their advertising dollars, and they don’t pay anything until they’ve actually made a sale. So it’s a win-win for everyone!
Hey Janelle
I love your approach regarding how people should make money online. People often forget that it takes a lot of time to create a profitable online business. To say start now and have it all set up by the time you retire sounds good.
I also like that you came up with multiple ways to make money online. I have to agree affiliate marketing is definitely in my top two. I’ve tried writing Ebooks before but I’ve noticed that’s not for me.
Overall a really great post!
greetings,
Rogier | Real Digital Success
I have written one small eBook, but I’d love to write more when I have the time. Every time I think about expanding into eBooks, I get another idea for a website and start building that instead!
Thanks for stopping by, and I wish you every success with your online business!
Thanks for this wonderful topic about making money after retirement, this really inspired me to continue with my Affiliate marketing business. Your writeup is great and I must say you really touched the key points. The best part is when I got to write about what I love doing and passionate about, I think that is gonna create a huge sense of fulfilment in the nearest future as a retiree. Thanks for putting this up, it’s really helpful.
You’re welcome, and I’m so glad you enjoyed it!
Hi Janelle, I am a mother myself and getting closer to the retirement age. I have also been looking for a different type of income cause I feel the time i spend at work is way over the time that i spend with my family and at the end of the month i have very little to show for it. Thank you for inspiring and giving some good ideas on how to have a different type of income. I will definitely check them out
I have the same reasons for starting my online business–my family was getting so little of my time compared to how much I worked. My goal was for me to earn money from home online and be there for my husband and kids. It’s a great way to live, and I’m loving every minute of it!
These are lovely tips; I have always been following your blog post and i appreciate the fact that you have provided another insightful article again. These are great tips to financial liberation; I am a blogger and affiliate marketer and i am earning my cash from home. I didnt even wait till retirement age before leaving my job. Thanks for your indepth analysis
You’re welcome! It sounds like you’re doing great with your online business, and I hope your success continues!!
Hey i really enjoyed your article, it was very interesting. I would love to be able to make enough money from home and build up a retirement fund. I have wrote 2 ebooks as of now and i really want to write more to explore the ebook selling world. I also blog with my affiliate marketing website, i dont make enough money yet though:(
Sounds like you’re doing well! If you keep adding great content and using good keywords, visitors will find you. When they do, the sales will come–good luck, and I wish you success with your eBooks and website!
Hey there. I am really glad I stumbled upon your website. I am very interested in starting online business and making some money out of it. However, I am completely clueless and do not know where to start from. That is why I had such a nice read. I really have to add your post was helpful also.
I think blogging and affiliate marketing combined really give the best results. I think I will start from there and build into something new overtime. Of course, I am not near retirement yet, but from what I read in your article – I do not need to be.
I can have my online business as a source of extra money. Your website looks really nice by the way.
How long did it take,before you made your first dime with blogging and affiliate marketing?
Strahinja
Blogging and affiliate marketing are my 2 favorite ways to make money online! I made my first sale when my site was about 3 months old, and then didn’t make a second sale for another couple months after that. But once I passed the 6 month mark, I started ranking better in Google and my numbers started climbing from there.
As long as you’re willing to put in the time and work, the sales will follow!
Hi Janelle! Thank you very much for opening our mind to all these alternatives to earn money online after retirement.
I personally enjoy writing. And it’s amazing we could do something we like to do and still earn money from it! I would like to combine affiliate marketing with blogging. Could it be possible? Thank you very much in advance.
Not only is it possible to combine affiliate marketing with blogging, but it’s done all the time. Good luck, and I’ll be happy to help any way I can!
I agree with your strategy, Janelle — if at all possible it’s a good idea to start doing the online business while you still have a regular income so that you’ll have it in place and up and running when you choose to pull the plug on the day job. I like it!
As you say, any business — even one online — takes time. It usually requires experimentation and a lot of set-up and from my own experience, the learning curve can be steep. Getting your feet wet and taking it slowly as a side-gig rather than as an all-out do-or-die last ditch effort makes a lot more sense.
Thanks for your post and for your suggestions….
You are so right–the all-out do-or-die feeling you may have trying to make it profitable after retirement can be more pressure than you want or need!
Retirement is supposed to be a time when you can relax after working all your life. Stressing out about how fast you are going to make money with an online business and spending every minute building it isn’t what you want to do. Having that business running and profitable means you can enjoy the work and time you’ll be putting into it during retirement.
Thank you for stopping by and taking the time to comment!
It looks like all of these options require the development of a website. I notice you mention Wealthy Affiliate here for hosting. Do they also help you build the website too?
I’ve seen lots of advertisements for places like Wix where they have out of box templates. Is that something I should look into? I have no idea how to code or anything so I’d be worried about building a site.
The great thing about technology now is that building a website literally takes minutes. With Wealthy Affiliate you can purchase a domain for $13.99 a year or use one you already own. Then you simply pick a title and a theme, and the program builds your website for you–no coding or technical knowledge is needed!
WA teaches you how to start building out the content on your site, what pages you need, such as a Privacy Policy, and even provides templates to make writing easier for you. Their step-by-step instructions make it a great program for beginners.
The best part about them is that you can build your first website for free with their starter program–no credit is required. Good luck with your online business and I wish you success!
You have exactly the same idea in this article as I did when I started my websites a few years ago. The best thing about this model is that you are able to do a website about something that you enjoy so the job will always be enjoyable.
And after all who doesn’t need an extra income stream for when they retire.
Exactly! With the extra income, having a site about something you are passionate about, and the ability to work on it wherever you are, you have a perfect combination for a retirement income. By starting it and making it profitable before you retire, all the pressure is gone and you can truly enjoy it!
Thank you for stopping by!
Building an online business is perfect for anyone who wants to make the big bucks and work for themselves. There’s no limit to how much you can earn, and nobody is going to tell you what to do. You mentioned blogging and affiliate marketing, that’s probably the perfect way to go because it cost almost nothing to get started and there is a 4-5 figure monthly income potential.
Can you explain the difference between the two? Because you said you can make money blogging by inserting affiliate links, but isn’t that the same thing as affiliate marketing?
Affiliate marketing and blogging definitely overlap! Blogging is generally referred to as a website where you can follow someone who shares an interest or passion. They write fresh content and you can go back again and again to see new updates and follow ups. They money that the blogger makes comes mainly from ad revenue, not from commissions.
Affiliate marketing is a website designed to promote products and earn commissions from merchants that you link to your site. Once the site gains traffic, you can also monetize your site with ads as well.
The confusion comes in because a blogger can start to make more money by inserting affiliate links and promoting products that are related to their niche. An affiliate marketer will gain organic traffic if they create a blog and post informative articles on their site. So these 2 business models commonly intertwine.
Thanks for stopping by!
Fantastic article. Lots of people today need to still make money after they retire to be able to live a comfortable life and this is the way to go.
Everyone needs to read this article It’s full of great information to start an online business and the key thing you hit on I loved, start it before you retire cause it does take time to build.
With this article it will definitely get them rolling on there way.
Thank you,
David
I’m so glad you found it helpful–thanks for stopping by!