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Small business in retirement
By Marisa Wright
Another thing that is all the rage at the moment is the notion that if we can't afford to retire completely, then the solution is to start a small business. When I started working part-time six months ago, one of my goals was to start developing money-making ideas which I could take up in retirement. I have to say I’ve been disappointed by what I’ve found. I suppose I’m re-learning what our generation has always known – that there’s no such thing as easy money! Most of the income-producing methods on the internet look simple, but there’s a lot of work required behind the scenes: and if you stop to work out the hourly rate for what you’re doing, it’s probably a fraction of what you could earn doing a regular job. Perez Hilton is one of those people who is held up as an example of someone who found fame and fortune from “just blogging” about Hollywood gossip. But did you know that he spends 15 to 16 hours a day, gathering his material and writing his blog? And as for eBay – I’m very happy using eBay as a hobby, to get rid of unwanted bric-a-brac and other odds and ends, but I know from experience that it’s very labour-intensive – so we’re back to that hourly rate again. All in all, I’m not sure that the dream of being an entrepreneur in retirement is all it’s cracked up to be. |
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