According to Home Business for Seniors, there is a wave of new seniors on the horizon that will be looking to supplement their incomes. These “Baby Boomers” may be finding themselves without enough retirement income or relying too much on a Social Security system that may deteriorate before they can use their benefits. Furthermore, many are concerned with shrinking dollar value and rising prices for basic things like food and medical care. So even if they’ve planned carefully, their portfolios might not carry them through.
All this adds up to a possible “perfect storm” for people interested in starting a home based business. Seniors or seniors soon-to-be may be perfect candidates for a home based business. By now they have likely acquired some marketable skills that can be turned into a business. Furthermore, many home based businesses can be worked part time which can fit comfortably into a senior’s retirement plan.
Rather than working at jobs longer into their senior years, I think many seniors will opt for starting their own home business to produce that much needed supplemental retirement income. What do you think?