Just because you are retired does not mean you couldn’t use any additional income. There are a great number of retired people today beginning a second career once they have left the office. Once you reach the retirement age, that’s it, you’re done with the company regardless if you are still capable of continuing on. For some the thought of not having a job anymore is scary especially now what there is no more being able to depend on social security
to get you through your golden years, since social security is almost a thing of the past.
There are many things you can do at home to make money. Over the past few years home based businesses have risen by a huge percentage. Right now almost one in every five families has someone working at home and that number is still expected to grow.
Unless you are one of the lucky ones, finding a way to generate extra money has become almost a necessity. Even if you are close to retiring or already there, you can still reap the benefits that go along with working from home.
If you have never been able to exploit any tax benefits before, well now is your chance. Having a home based business allows you to use your home for a tax advantage, since it is now considered your place of business. This allows you to deduct a part of the operating and depreciation costs on your home. essentially this means that a percentage of your mortgage, insurance, utility bills, and expenses for household maintenance, household improvements and repairs are deductible. If your business requires you to use your vehicle for any purpose you may also be entitled to deduct expenses such as gas, insurance and the depreciation value. This needs to be discussed with your accountant since it is their job to be knowledgeable in this area.
Now that you are retired I’m sure you want to spend more time with your family. If you had to take on a job that took you out of the house you would lose out on that opportunity. By working from home it enables you to do that. Have you always had to pass up watching your grandchildren because you had to work? Now you can do both, work and spend time with them.
Did you miss out on certain hobbies and things because of your busy work schedule? Is fishing a passion that had to be put on the back burner because you had to work? Now you can change that. With retirement comes the ability to make up for the things you missed over the year. Just because you have to find a way to make more money does not mean this needs to change. If you want to go fishing, go fishing, put in a few hours before you go or wait until you get home. The joy of a home business is that now it is up to you.
Working from home does not mean you have to put out a large amount of money or any money for that matter to get started. There are many online opportunities just waiting for you to come along and grab them. There are many network marketing businesses online where you work along with others as a team to generate sales. These types of businesses are popular for those who aren’t very internet savvy. Most of them are fully automated and run themselves; all they require of you is work that can be done through email. This would be a great starter home business for a newly retired person.