A retirement full of nothing but rest and relaxation isn’t for everyone. Many small business owners find their entrepreneurial spirit just isn’t willing to take a backseat to their new lifestyle of playing golf and sipping whiskey sours. In fact, many retirees find themselves going back to work in some form, whether as a part-time consultant, or as the owner of a brand-new small business. Whether you’re looking to just keep your mind and body active, earn a little extra cash for your golden years, or finally devote some time to a passion project, here are our top five ideas for how to keep your entrepreneurial spirit alive after you retire:
1. Become a consultant:
The knowledge and experience you’ve built up over your career is still valuable after you retire, and there may be people out there, whether they’re former colleagues, friends, or start-ups in your field, who may be eager to pay you for that wisdom. Offering your services as a consultant is a way to continue to be a part of an industry you have a passion for, but on your own terms. You control your hours, rates, and the projects you choose to work on. It’s the best of both worlds – you get to keep doing the work you love while also having time to enjoy one of those whiskey sours.
2. Monetize your hobby:
Perhaps you’ve devoted your career to running a small plumbing business, but spend your downtime at the potter’s wheel and kiln, indulging your love of handcrafted ceramics. Retirement is the perfect opportunity to develop your skills or finally focus on your side hustle without the pressure of having to make a living off of it. Take some classes so you can write that novel or open that Etsy shop you’ve always dreamed of.
3. Take a part-time job in a new field:
Sometimes, what people miss the most about work after they retire is just having a place to go and people to interact with outside the home. Part-time work is a great option if you feel done with your former career but miss having a job. Getting into a new field in a lower-stakes, part-time position may satisfy your curiosity to keep learning without falling totally back into your pre-retirement way of life.
4. Start a club:
If you’re looking for a way to engage with your outside-of-work interests, starting a club is a great way to bring people with similar interests right to you! As a retired business owner, your leadership skills will keep the club running smoothly and productively for everyone to enjoy.
Some retirees who’ve spent their careers building successful businesses look at retirement as a time to give back to the communities that have supported them. Donating your time, skills, and business knowledge to a charitable cause can help make your retirement feel purposeful.
Your retirement is yours to spend however you like. Take this time to do something you enjoy, whether you’re continuing to make a profit or donating your time to help others. You’ve earned it.