It is easy to say Making Money Online For Retirement Purpose is than getting it done.
I am sure a lot of people must be wondering, and worried whether they can sustain their retirement, especially when they outlive their expected lifespan.
Hence the importance of make money online for retirement purpose.
As I mentioned in my previous posts on retirement, and the need to get prepared for retirement.
One of the most important thing, we need to address - is to have continuous income during our retirement.
People in the oriental part of the World have the culture ingrained from long time ago, is to raise a family so that the sons or daughters will look after them, after they get old and retired.
It was the duties of the sons and daughters to look after the parents, however this type of thinking may not work in the modern world.
So, what can the old folks do, in the event when the children are not able to take care of them?
- I would suggest the children to teach their parents to be computer savvy, and
- learn some skills in online business, and
- start them on the right footing if they do not bother to take care of their parents in the future.
This is the least they can do to show their filial piety gratitude to their parent.
What do you do when you reach retirement age?
It will be good, if those who are reaching retirement age
- can start learning,
- how to make some money doing online business, and
- be financial independent, and
- Financial free during the retirement.
What Can A Retiree Do In Online Business To Be Financial Free?
There are so many ways a person can achieve financial freedom, especially using the technology available now on internet, so in a way, the retiree nowadays are more fortunate than those who retired, said in the early 1970s
In the 1970s, when there was not internet, and to have passive income, a person might have to engage in some business and made sure the business would bring him good income in his retirement.
In the modern age, with the readily available internet, and the advancement of technology, it is easier for anyone to make a living online, especially for those who want to retire and not to worry about money.
There are so many avenues to make money online, some people have been spending hours online in the social media nowadays, and if they can spend the times in generating income, it will be better and good for retirement.
Among the most common methods being used are:
1. Setting up a store online selling physical goods/products.
2. Engaging in affiliate marketing earning affiliate commissions.
3. Using internet to do online trading of shares, forex and other financial instrument.
4. Contents creation and proofreading of contents.
5. Provide online training courses using experience and expertise gained before retirement.
What To Avoid When Trying To Do Internet Business Online.
A lot of people may think it is just setting up a website, and that is it, Money will come in to you.
People will eventually fall to prey of those scammers online, who prey on ignorance and naive of people, and I believe there are a lot of people, who have tried internet business but ended up being cheated of their hard-earned money.
Therefore, before you decide to embark on this course of action, it will be better for you to do a bit more research, and look at the reviews of whatever you come across.
Online Stock/share trading
Take for example, you have decided to do online stock trading, using the available software and platform, what do you need to do:
- I would suggest you really understand the software/platform provider,
- to be on the safe side, it will be better if you can go along with those platforms
- provided by the banks or stock brokers
- whom you may have been using to buy your stock or build up your investment portfolio.
Likewise, if you decide to get involved in forex trading or option, do understand the mechanism of it, and select the right platform for you to perform the necessary work.
There are a lot of people offering courses in how to make money online, and claimed to have ample success in doing so.
What do you encounter usually on enrolling for courses?
- Most of the time, after you have enrolled in the courses, and
- attended the courses which is normally conducted over the weekend,
- you suddenly find out you learn very little from the two days courses, and
- was informed by the seminar host that if you wanted to learn more,
- you needed to enroll in the more in depth courses they have available, and
- you recalled when you attended the briefing,
- they claimed they would reveal the secrets' method they used to achieve their success
- if you signed up for the two days courses!!!.
For affiliate marketing, there are quite a lot of affiliates program available, here again we have to really study, and find out which one really can get you good money, some claimed they pay well if you are able to promote their products.
Another business model people will use to make money online which the retirees may want to consider is the publication of e-book, since retirees may have quite a lot of times and rich wealth of experiences, you may want to start writing e book to share your experience on topics you may have encountered.
What if you are not good at writing?
- You may want to get some ghost writers to write for you,
- Tell them what topics you want to talk about, and
- You vet and edit the work produced.
- Next get a graphic designer
- He will design your e book cover
- After that, publish your e book in Amazon or
- other platform which you think you may have a better audience.
You may want to sell your e book in Amazon Kindle Store,
What Will I Recommend To Start and Prepare for Internet Income For Retirement?
If you are not in a hurry, and have ample times to prepare for your retirement and if you wish to learn and enrich your knowledge about online business, I would strongly recommend you have a look at Wealthy Affiliate.
In this Wealthy Affiliate community, if you really follow the training outlined in the website, and actively participate in the discussion and posting questions, you will be surprised to learn that there are a lot of people in this community who are willing and readily available, to share their experience and knowledge on making a success in online internet business.
If you have any questions or wish to share your experience on this topic.
Please feel free to leave your comments and questions and your experience in the feedback space below.
I would be glad to get back to you and thank you for your feedback.
8 thoughts on “Making Money Online For Retirement Purpose”
I'll have to pass this article on to my father, who has recently been looking for something to do full time ever since he retired (he's not the type of man who can just sit around all day - he constantly needs to be doing something!).
This Wealthy Affiliate training really does look interesting, but I'm wondering what the learning curve is for someone who has not really had that much experience online. Do you feel it's suitable for a 67 year old guy without any former marketing training?
Thanks for your comment, yes, it is alright to have a 67 year old guy to follow through the training in Wealthy Affiliate as the training in WA is very comprehensive and easy to follow, even for someone without any marketing training.
all he has to do is to follow the training and do the assignment required before he goes to the next lesson and if he really has questions, just post the question in WA, those in WA community is more than willing to help out and share their experience. ( I am assuming he has signed up as a member of WA, if not, he may use the link to sign on)
Hi Chee Shi, thank you for your suggestions, it is certainly a matter of my interest, now that the pension funds are making a mess of it. There is a lot of uncertainty about the payout, when I'm ready to retire for about 8 or 9, 10. Even that does not provide any security. I believe in the growth of internet purchases and with that I choose affiliate marketing. Not for selling own products. No hassle with payments. Simply promote products for another company and thereby generate an extra income.
hi Loes, thanks for your comments
We have to plan early for retirement and since internet is so readily available and we make use of that to take care of our retirement and have a worry free retirement, and have passive income coming in even we are retired, all we have to do is to spend some times online to manage our website and promote some products and enjoy our life
very encouraging article. Retirement is such a scary subject these days. You can’t seem to guarantee that you will receive a living wage after you are done giving almost sixty years to the workforce. If really is within a persons best interest to look for a way to start an online business, but what is your number one piece of advice for avoiding online scams?
Thanks for your comments and feedback, I agree with you that it is to the best interest for a person to look for a way to start an online business.
However, it all depends on what you have decided to do for your online business, if you want to do trading of shares and other financial instruments online, to avoid the scams, it will be better you use the platform of the renown brokers instead of those which you do not see the person in charge in person, even though they may offer a good rate for your trading activities, I always advise people to make use of the platform of the company which is at your location wherever you reside as you can go and see them in person instead of those online platform who has people keep calling you but you don't know whether they are legit or not even though they may tell you they are regulated.
As for other online business, for those who offer courses for you to learn online business, ask them to show their results, the current results "LIVE" and if they are not able to do so, i would suggest you stay far away from them, it gives me the impression they only teach you the theory which they themselves have not sunk their feet in it at all.
I may write in more details on how to avoid the online scam once i have done my researches.
Hope the above meets your query.
The honest truth is that I will never retire. I just realized it while reading the article. I absolutely love working. There is nothing that gives me a greater feeling of fulfillment and purpose than knowing that I have the chance of making a real global impact. And the possibility of trying to make the world a better place. 🙂
And in that it's extremely important to love what you're doing.
For me online marketing has sparked a genuine passion, I enjoy every nanosecond of it. My point being, you don't have to try online marketing just for the purpose of Retirement. You might just try it for the sake of trying it. And who knows? Maybe something awesome happens and you finally find a true passion of yours, just like myself.
Thank you for the article, I really needed that realization!
Cheers and have a Great One!
Great to know you have a great passion of what you are doing and enjoy it very much and do not have to worry about retirement.
It is even better that you can generate very good income from your passion and make an impact on others.
Thanks for sharing