Looking for a Business to Start in Retirement?

Consider One that Gives Back to the Community

As many of us approach retirement age, we can’t help but imagine what our lives will look like in the future.
We may hope for more time with our families (especially grandkids), more time for hobbies (fishing!), and more time for ourselves to make up for years of on-the-go career lifestyles.
But retirement is also a time for introspection and self-discovery. We begin to question what impact we’ve had on the world and how these years might help shape the legacy we’ll one day leave behind.
It’s this “legacy” aspect that motivates many people to give back. Some decide to find a charity or nonprofit, devoting money, time, and expertise to a worthy cause. Others wish to do something similar, but instead aim to start businesses of their own.

Start a Business in Your Community

For many of these folks, the communities in which they’ve lived, worked, and raised children are special. They feel indebted to continue making these places great. Starting a business that benefits one’s community can be an exciting venture during retirement. Introspective people who take this route often begin by identifying what their own community lacks.
Consider your own community, what type of small business would make an impactful addition for your friends and neighbors?
Perhaps it’s a coffee shop, where friends and family can gather each morning and foster more connectivity. Perhaps it’s a yoga studio, where stressed-out parents re-center themselves. Maybe it’s an old-fashioned ice cream parlor, where children can gather after little league games and report card celebrations. Or maybe it’s a pet salon for our four-legged fur babies.
During this global pandemic, it’s more important than ever to find some sense of normalcy amidst our socially-distanced lives. Without our communities to bind us together, we’d feel even more isolated. Communities are an essential part of what makes us all stronger together.
Many of our communities are hurting. They’re experiencing pain, loneliness, hunger, and anxiety. Even some of our best and brightest communities likely lack something vital that could make them stronger and more vibrant.
Those of us who’ve reached the “second act” of our careers can find a way to contribute to our community’s greater good. And starting a business during your retirement years that brings out this benefit may just be your calling!

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