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24 October, 2008 |
PROFITABLE HOBBY – SECOND HAND BOOK STALL
Anyone can easily run a second hand book stall at weekend markets.
You source the books you have for sale from charity shops.
You’d buy them for $1 then sell them for $5.
A simple fold-away table is all you’ll need initially for your stall.
Your major expense is the $25 fee that you have to pay to each market, each week, for your space.
In four hours, you should be able to sell at least 20 books (revenue $100).
Your expenses for the day would be $20 for stock, and the $25 fee.
Profit $55.
Over a year, your profits would be north of $3000.Labels: hobby, income in retirement, micro business, profitable hobbies, retirement, retirement income, small business, work from home |
posted by Bernard Kelly @ 9:20 AM  |
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PROFITABLE HOBBY – RECRUITMENT AGENCY FOR SENIORS
Mary was a qualified nurse, aged 60.
However at her age, there are personal injury risks in that profession so hospitals tend not to hire seniors.
She needed income, and took on some part-time low paid work (from the local council) supporting the elderly in their own homes.
However she needed extra income and it occurred to her that she had ample time to start a hobby business.
Given her own experience, she realised that there must be a population of seniors out there who become “un-employable” at a certain age.
So she resolved to establish a recruitment agency for seniors, working from home with virtually nothing more than a computer.
Fortunately Mary had personality, and went out of her way to promote herself in newspapers that were read by seniors.
She also became passionate that firms could benefit from hiring experience, which helped her promote her hobby business.
Her fees were $25 per annum to be listed on her database, and $300 for a firm to look for suitable employees.
After the first year, she had over 300 seniors registered (revenue $7,500) and 15 employers had paid to look (that was an additional $4,500).
The key ingredients for this hobby to become profitable would be an abundance of personality, and loads of energy.
You would also need to find a large employer who was willing to employ seniors, otherwise you’d have an ethical problem with taking money from registrants without a genuine expectation of being able to match them up.Labels: baby boomers, income in retirement, profitable hobbies, retirement |
| posted by Bernard Kelly @ 9:03 AM |
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22 October, 2008 |
SOCIAL NETWORKING FOR BOOMERS
BOOMj bills itself as the leading niche portal with social networking and e-commerce serving Baby Boomers and Generation Jones.
The portal integrates content, social networking, e-commerce, and advertising, in health, finance, politics, technology, entertainment, travel, and lifestyle.
Go to www.boomj.comLabels: baby boomers, boomers, lifestyle, mental health, retirement, social networking, social networks |
| posted by Bernard Kelly @ 6:59 AM |
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21 October, 2008 |
PROFITABLE HOBBY – VENDING MACHINES
Peter Arnold emailed me about vending machines.
He has 42 vending machines for sale as he is moving to the beach.
They are bulk lolly machines and they vend a handful of lollies such as M&M’s, Jelly Beans, Nuts, etc, into little white paper bags.
This is a genuine part-time small hobby business (where the hobby is making money) as a machine only needs servicing (re-stocking, collecting money) every 4-6 weeks. So if you only serviced 10 in one day, that’s only 4-5 days work every 4-6 weeks.
None of the machines are on location at the moment, but good sites should be easy to find. They do particularly well adjacent to kid’s playrooms in hotels, in video shops or in 24 hour convenience stores, he says.
Sales of $1000 per month is easily achievable, says Peter. One machine in a very good location can achieve $150-$200/month, so if effort is put into finding good locations then a return more than $950 is possible. It costs about $40 to fill a machine
The purchase price for the 42 machines is $28,500 with a discount given for site finding costs, and start-up stock. Full training, support materials, spare parts, and phone support is included.
You can obtain further details from Peter on (07) 3321 1107Labels: income in retirement, mental health, profitable hobbies, retirement, retirement income |
| posted by Bernard Kelly @ 10:21 AM |
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LOCAL COUNCILS UNPREPARED FOR SENIORS
FEWER than 10 per cent of local government authorities in NSW say they have prepared a strategy to deal with the ageing population despite a government report forecasting an explosion in the proportion of elderly people.
While the number of people aged under 64 is expected to jump by about 20 per cent, the over-65 age bracket is set to skyrocket by 111 per cent over the next 25 years.
The survey by the Department of Local Government says only 15 of the state's 152 councils have an ageing strategy in place.
The NSW Council on the Ageing, representing people aged over 50, said it was concerning that only a small fraction had planned for the needs of senior citizens.
The organisation's policy and communications manager, Anne-Marie Elias, said councils should have strategies that covered each age group over 50.
The Planning Minister and former minister for ageing, Kristina Keneally, said the Government would use the new forecasts to plan the locations of transport, housing estates and health services.
Labels: baby boomers, boomers, retirement |
| posted by Bernard Kelly @ 7:22 AM |
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17 October, 2008 |
E-BAY AS SOURCE OF INCOME
There were 17,500 eBay members in Australia in 2006 who used eBay as their primary source of income, according to ACNielsen Research.
These members were classified as “full time merchants” who buy online then sell those same goods, also online.
Then there were a further 35,000 who used eBay as a secondary source of income.
Some of this second group sold their own surplus household items, while others used eBay as “part-time merchants”.
There are obviously major opportunities to supplement your income using this technology.
And what could be easier?
Labels: income in retirement, profitable hobbies, retirement, retirement income |
| posted by Bernard Kelly @ 9:24 AM |
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16 October, 2008 |
| I'll be happy to make regular contributions (DD) |
| posted by Bernard Kelly @ 8:26 AM |
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Retirement Planning - New Approach
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13 October, 2008 |
RETIREMENT PLANNING - NEW APPROACH
Many of us are sailing toward retirement with the hope that the pension, personal savings and superannuation will add up to the magic sum required to enjoy our remaining years with a reasonable lifestyle.
But how to reach that goal can be a bit of a mystery. We all know we should be saving for retirement, but how much should we be squirreling away?
And how much will we need if we live to 90? And how can our income in retirement be protected against inflation?
The answers are available, and Intelligence is not the issue; it really is a question of knowledge and time. Retirement planning as it is currently administered is in a transition phase; it simply doesn't represent a sustainable solution for most of us.
What we see in the current crisis, is the tendency to talk only about return and forget risk. Risk means risk, not just a wink and a nod. 'It will all work out in the end' is not a supportable claim.
In “Pride and Prejudice”, Jane Austen didn't describe Mr. Darcy by saying he was worth 100,000 pounds. She'd say that he was worth 4,000 pounds a year. That's how we usually think of our standard of living.
We're used to thinking of the superannuation industry as a vehicle for getting to our retirement goal, yet few of us have a deep understanding of the mechanics behind it.
It's like compression ratios on car engines. Or dual overhead camshafts. What does that mean in terms of what matters to me? Does it get me more mileage?
In the same sense, what you're really worried about is your standard of living, not what's under the hood in terms of the rate of return distributions to get you to that goal.
To get us started, I ask my private clients to nominate their desired annual income in retirement. If they are not sure, I suggest a target to maintain one's standard of living is around 70 percent of your annual income earned in the last few years of your working life.
They are then asked to input the minimum amount they would feel comfortable living on. (Whatever the answer is to this question, it provides an insight into their risk tolerance).
Then over the years, we can adjust for factors such as increases or decreases in salary and take into account explicitly the risks of changing life expectancy, inflation, and interest rates.
We have your goal in mind and suggest what investments will achieve the target vision to get you there.
An you know my solution – residential real estate.
I'm not saying it can't be done better – I anticipate making continuous improvements.
So stay tuned. Retirement as we know it is an evolving concept. For one person it may be the classic vision of a retirement village on a golf course. For another, it could be a few years in the Philippines with your religious affiliation.
However the only known product that will continue to grow, is inflation protected, and hopefully will last until your “estate event” is Property.
Let me know if you would like me – Bernard Kelly - to help you explore your options. Contact me on admin@retirelaughing.com or just hit the return button on this email.Labels: income in retirement, pension, retirement, superannuation |
| posted by Retire Laughing @ 7:54 AM |
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