As I talk to lots of people that are considering retirement and the possibility of a new career, what I am finding is that the “new” second career is most often a rewarming, and re-purposing of their current career.
Corporate executives choose to be corporate consultants, teachers retire only to take on contract work for the school district, real estate agents become real estate trainers. Now don’t get me wrong, these options are usually the simplest and often make the most sense from a practical point of view.
But what about that dream? You know, that nagging thing that has always filled the back of your mind only to make appearances in the quiet times. That “want” that has always taken a back seat to “necessity.” The novel, the painting, the skill you have always wanted to master. Is it possible that you could turn that dream into a viable retirement income, a “Garage Empire”?
Before you say YES and jump into the deep end, let’s consider a few things about building a Garage Empire:
- Don’t skimp on your research. What will it take to transform your dream into a successful business? There are many details that have to be considered in order to turn the dream into a business.
- Look at the resources that you currently have and research what else you will need. Decide what you can do and consider what you will need to outsource.
- Start slow and build! Remember that it will take time and effort to create a business from scratch. Starting before you retire is the best option, but if you haven’t or can’t, just understand that you will experience a growth and learning curve and that profits will follow that curve.
I personally think that a lot of incredible skills and innovation can unleashed by the Boomer generation if we will just choose to live our dreams!
What do you think? Tell us your story!