Should Baby Boomers Start an Internet Business in Retirement?

Is it a good idea for a Baby Boomer to start an Internet Business in Retirement?

This is a question on the minds of many Baby Boomers who see it as a way to supplement their income in retirement. Rita from The Survive and Thrive Boomers Guide asked me if I could write a post about boomer’s setting up a small business without risking their nest egg. Be sure to visit her excellent site for all sorts of information for Baby Boomers. This post partly answers that question.

I have run a small computer consultancy business from an office with staff and from an office at home. I much prefer the freedom of working from home and the fact I have no staff to worry about. I was always chained to the business when I had an office.

Fast forward to now when I am in semi-retirement. Much of the computer consultancy work is sub-contracted out now. So I was wondering what I should do with my time. I decided I would see what I could do on the Internet. Luckily my home office was set up years ago and is now serving me well as I try to build my own Internet presence.

But back to my question. If Baby Boomers are looking for a second income to supplement their pension and social security payments then the Internet may provide a way to do that. It can be a low cost, low risk opportunity to create a second income if done right. However it is something that will require time and commitment to make it work. Take my own experience.

I have made several major mistakes and I’m a computer consultant (not an Internet consultant mind you). I was quite dumb on the Internet. I was telling all my clients to make Google their home page when it first became available. I also recall seeing on their home page what might have been their first advert. It was asking for investors to invest a minimum of $1,000 I think. You could buy their shares for nothing then. Of course I didn’t see how they could possible make money, so I didn’t buy any. Last year I believe the advertising revenue was $10 Billion. Ouch!

A high percentage of Baby Boomers surf the Internet every day. Many are looking for something. All another Baby Boomer has to do is find out want that is and provide it. It is easier said than done though.

Baby Boomers can begin learning how to use the Internet to make money for next to nothing provided they are careful. The old sayings of “you get what you pay for”, or “nothing is free” don’t necessarily apply to the Internet. I say this because many of the Internet marketers give away very valuable information for free. They realise that they need to get their visitors to trust them by offering value before anyone will buy anything off them or no one will visit their site. No visits, no business it is that simple. In fact right now almost everyone is throwing products out for free in a “pay it forward” marketing style. They believe that they have to give in order to receive.

As a “Newbie” to Internet marketing we Baby Boomers can take this free information and use it to learn and create our own Internet marketing business. Much of this material is videos which I find speeds up my learning curve dramatically. Just go to You Tube and type in “Internet Marketing” You will get a list of 27,500 free videos on the topic. Then search for “Internet Marketing with Blogging”. It will give you 2,950 videos on this search term.

If you don’t know how to set up a Blog then try typing in “setting up a blog” and you will get 320 videos on that subject too.

You look for “How To” videos on creating a web business. Avoid the get rich quick videos like “How to make $10,000 a minute blogging”.

One Blogger I really like is an Australian 😉 called Yaro Starak. He is very successful and he offers lots of quality stuff for free. Take a look at his 10 free videos on Become a Blogger. This is an excellent training free series. So you will be able to see if it is something you want to do.

There is plenty of free help out there and much of it is first class. You see the genuine people doing the videos are “paying it forward” and over time if they offer value people will subscribe to their blog or site and begin buying their products. There has never been anything like it before.

Compare that to buying a bricks and mortar business with all its associated costs before you earn one cent from it. Plus if it is a small shop you may be chained to it just like you were to your job before you retired.

If you are a Baby Boomer in retirement and needing income now, then this may not be for you right now. If you don’t need the income I still think it is a great thing to do. Don’t even think of signing up for some of the get rich quick stuff. But if you are a Baby Boomer contemplating retirement in the next couple of years then I strongly recommend you get yourself a Blog and start adding high quality content to attract visitors. Then learn about social marketing to market your blog for free. Again there is a lot of free stuff out there that will allow you to get some ideas to start with. From there you will start to ask the right questions to help with your social marketing.

It took me almost two years and a lot of money to decide the best thing for me was to create blogs with good contents on niche topics and slowly add value with FREE reports and your own low cost eBooks. I believe this formula is the right one for most Baby Boomers to follow. Over time if you are persistent you will be recognised as an authority in your niche. Your blog will become a valuable resource. You will be able to sell products or your services to your subscribers because they will trust you. You will be able to sell advertising space on your Blog because business will want to sell to your visitors. You will have a valuable Blog you can sell or pass on to your children.

An unrealised benefit is you may end up making friends around the world. Yaro Starak Expert Blogger a very successful Australian full-time Blogger has just gone to Canada for six months. Go and read his article “Mixing Travel, Business and Pleasure“. Here is part of an email he sent subscribers.

“I’m in Vancouver at the moment and wow….

Last night I organized a small informal gathering of local Vancouverians who read my blog. It’s so great to have an instant group of friends all thanks to blogging (yet another benefit if you blog).

John Chow, who you might know from his very famous JohnChow.com blog, came along with his wife and it was great to meet him.”

You will also benefit from keeping busy, keeping your mind active and get a sense of achievement as you learn to get more visitors to your site and hopefully make new friends all around the world..

But it is not a get rich quick scheme. It may take you a year of more to even begin to see any real results unless you are very lucky. But don’t they say most small business take up to 5 years to become profitable?

I have no affiliation with either Yaro Starak or John Chow.

It is my view that Baby Boomers should seriously look at starting their own Blog and then develop it into an income producing business if they so chose.

13 Responses to “Should Baby Boomers Start an Internet Business in Retirement?”

  1. […] Steve Hulett wrote an interesting post today onHere’s a quick excerptThis is a question on the minds of many Baby Boomers who see it as a way to supplement their income in retirement. Rita from The Survive and Thrive Boomers Guide asked me if I could write a post about boomer’s setting up a small … […]

  2. I totally agree with you on blogging, but blogging does take a genuine commitment. I think of all my blogs as children, everyday I look at them, tweak them a bit and then send them on their way and after a while they begin to grow!

    Denise
    http://www.the-baby-boomers.blogspot.com

  3. Rita says:

    Thank you for following through with writing the article on how to start a business without spending your nest egg. Thank you also for mentioning my blog The Survive and Thrive Boomer Guide at http://boomersurvive-thriveguide.typepad.com.

    I’m working on developing content for my blog now then later I’ll put ads on it. I love writing the blog. I’m a journalist and a consumer specialist so it’s a great venue to write consumer articles on a wide variety of issues. I just did a series on wrinkle creams, Botox, and plastic surgery. Very eye opening!

    About two months ago, I started a reader blog for the Seattle Post Intelligencer at http://blog.seattlepi.nwsource.com/boomerconsumer/. It’s fun doing a regional blog. I’ve written about why gas prices are rising so rapidly and proposed gas and electric rates from Puget Sound Energy.

    Rita

  4. admin says:

    Denise and Rita,

    Thank you for your comments on this post. From my stats I can see the Post was of interest to quite a few of my visitors. I might do a more in depth one in a week of two.

    David

  5. […] kuttu80 wrote an interesting post today onHere’s a quick excerptAs a “Newbie” to Internet marketing we Baby Boomers can take this free information and use it to learn and create our own Internet marketing business. Much of this material is videos which I find speeds up my learning curve dramatically … […]

  6. Yes, here there is no risk for the getting the money. Put the less writing skills effort on this marketing we get the more profits. Thank you for giving this information.

  7. Your article is great…I have just written “For Kids 59.99 and Over” and maybe we could do a cross link. I think people today are very afraid of losing income and also a fear that their dollars saved will not get them through..WIth rising prices on everything today this is a legitimate fear. Great article..carol stanley carolstanley1.com

  8. admin says:

    Carol,

    Thanks for the kind words.

    I will contact you tomorrow about linking. It’s gone midnight and I’m off to bed now.

    David

  9. Trevor says:

    Ofcourse Baby Boomers should start a business surley we all knoe its not work that kills you but retirement.
    Its only really a question of what level of commitment you wish to put into it.
    trevor at http://www.supplements-that-work.net

  10. admin says:

    Trevor,

    Thank you for your comments. I visit your blog and found it to be well laid out and informative. I liked the article on Baby Boomers too and the trans fats is something I had not considered.

    I agree with you on commitment. My article was aimed more at encouraging Baby Boomers to look at an Internet Business rather than throw a lot fo their nest egg at a bricks and mortar business which they will likely be chained to for 5 years. And at 60+ years old health can change quite dramatically so we need to be cautious.

  11. […] most viewed post on this blog is the one I did on Should Baby Boomers Start an Internet Business in Retirement. I thought it was a good idea and said so. I didn’t expect it to be my highest rated post on […]

  12. Amy Sherman says:

    Thanks for the great article. I think we all have something valuable to share with others and blogging is a great resource. As a therapist, I deal with boomers all the tims. I developed a website http://www.bummedoutboomer.com to help them transition through midlife and I suggest to many of my clients that blogging is not only therapeutic, but it can also be profitable. Your post was very good and informative.

  13. admin says:

    Amy,

    Thanks for your kind remarks.

    I too believe blogging is good therapy and can become profitable.

    Good luck with your website. I just signed up for your eZine.

    Regards,

    David

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