Original Post

Any ideas for generating an income in my retirement

Posted At
22/01/2008

michaelmc
michaelmc
I'm not far off retirement but don't have a pension - I would like to find a way becoming self-employed even on a part-time basis to support myself. I have looked on the net but there are too many get rich quick ideas are probably too good to be true.

I am quite arty / creative and good at working with my hands - DIY, fixing things, currently working as a Service Engineer but also have lots of Sales experience.

All ideas welcome, preferably from people who are currently earning as self-employed
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Cass6

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Posted At: 12/03/2008 17:10:07

Hi - I am having to give up my job in June as I will be 65 - it's crazy - I would like to carry on working but who will employ me!! I am a secretary and have a computer at home - anyone got any ideas of working from home? Or any other ideas really. I only have my pension and will have to give up my car if I can't find any work. I hate the idea.

Cass
kentzone

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Posted At: 13/03/2008 08:57:14

Hi Cass, have a look at homeworking.com it's a UK site full of independent advice for homeworkers and would-be homeworkers. Although on the surface the information appears quite old that's only because it doesn't need updating, and the forum is still active and full of impartial advice.

Trevor

Oh, for some reason the link won't connect, but the address is www.homeworking.com

Afraid it's a cut-and-paste job



PennyWT

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Posted At: 24/03/2008 17:49:43

Hi Folks - interesting thread. I have been self employed all my career and I have never been out of work. I work in Education and also do secretarial work/self assessment tax returns/VAT returns for a network of clients/ private tuition and coaching for youngsters who need help etc.. I work as a freelance journalist and also produce random articles for a range of magazines/journals. I write books and I run creative writing courses. I run awareness training seminars for people who are looking to start their own business.

No this is not an advert!!!!

I'm just pointing out that there are always openings for enterprising people whatever skills you have. The whole point is actually recognising that you DO have skills that other people may wish to utilise. Anyone wanting a one to one chat can check my profile. I have just reached 60 and have no intention of retiring. However, another point raised on this thread about pensions. Why defer what is yours at 60/65. You might not live to pick up much after 75, so take it now and if you don't need it, invest it. A bird in the hand . . . . as they say . . . . .
paloma chaffinch

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Posted At: 03/04/2008 15:40:45

Quoting Cass6 (12/03/2008 @ 17:10:07):
Hi - I am having to give up my job in June as I will be 65 - it's crazy - I would like to carry on working but who will employ me!! I am a secretary and have a computer at home - anyone got any ideas of working from home? Or any other ideas really. I only have my pension and will have to give up my car if I can't find any work. I hate the idea.

Cass

Hi Cass
If you're good with computers how about teaching people in your area how to use the internet/email/photographic software and anything else you know how to do? It would probably appeal to older people having someone more their own age to teach them. You could advertise in your local paper. I did this for a bit along with my part-time job and got some work from it. I had to give it up as I took on a new puppy and needed to be home more but I think it would have grown by word of mouth after a while.
ishbell1963

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Posted At: 04/04/2008 01:03:50

Cass,

The mention of the puppy reminded me of one of my friends who funds her holidays with taking in pooches for holidays, etc. I have met some of these dogs and they are all adorable and give her great pleasure - it keeps her healthy (she is 74 and line dances 5 nights a week) This year she is off to Las Vegas and has booked all the big shows which is an expensive holiday - so there is money to be made.
Sorrel_707

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Posted At: 04/04/2008 08:50:51

Quoting Cass6 (12/03/2008 @ 17:10:07):
Hi - I am having to give up my job in June as I will be 65 - it's crazy - I would like to carry on working but who will employ me!! I am a secretary and have a computer at home - anyone got any ideas of working from home? Or any other ideas really. I only have my pension and will have to give up my car if I can't find any work. I hate the idea.

Cass


I mentioned in the local book shop that I was at home with a computer and had done secretarial work, and within a few weeks, I had a guy starting his own business, who wanted someone to devise an invoice and type them up - from his notes, and send them out, (3 the first week - 100 by the end of the year) someone else who needed secretarial help for a couple of hours a week - and someone who had written a book - in biro - and wanted it 'knocking into shape' - word of mouth gets around - it will start slowly and build up - good luck - and charge realistically - work out your cartridges, paper etc. - the best are those who you simply email the work to - for them to print off at their end.
Cass6

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Posted At: 04/04/2008 13:43:46

Thanks to you all for taking the time to give me your ideas for home working - I will certainly explore down some of these avenues. Any more advice please keep it coming.

Cass
Major Tom

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Posted At: 05/04/2008 19:31:34

It's not exactly self-employment, but there seems to be an endless demand for people to drive new cars to delivery destinations. Not for everyone, but a retired friend of mine has been doing it for 10 years and loves the freedom and the travel. Generally, he's driving very nice expensive sets of wheels.If intersted, check local temp agencies
Major Tom

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Posted At: 05/04/2008 19:46:54

Quoting jennyinislington (22/01/2008 @ 23:06:56):
Lots of people can't tackle even the simplest of DIY jobs, either through time, ability or disability and quite a few active but slightly older people can fill this gap - even down to changing light bulbs believe it or not. Also, assembling flat pack furniture, putting up shelves, all the hundreds of jobs around the home, need a competent person to do it.quote]

If you do work for someone, where would you stand on the issue of insurance? We live in litigious times! All forms of business insurance are now very expensive.
kentzone

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Posted At: 14/04/2008 07:52:37

Quoting kentzone (13/03/2008 @ 08:57:14):
Hi Cass, have a look at homeworking.com it's a UK site full of independent advice for homeworkers and would-be homeworkers. Although on the surface the information appears quite old that's only because it doesn't need updating, and the forum is still active and full of impartial advice.

Trevor

Oh, for some reason the link won't connect, but the address is www.homeworking.com

Afraid it's a cut-and-paste job



I've sorted out my links now... now it works!

homeworking.com

Maystoyboy

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Posted At: 14/04/2008 15:47:03

If you folks have been forced to retire this may interest you .

you are forced to retire at age 65 or above you can bring a claim at the employment tribunal. If your employer has not followed the correct retirement procedure you will have a claim for age discrimination and/or unfair dismissal. Even if your employer has followed the procedure correctly, you can still bring a claim and this should be stayed (put on hold) pending the outcome of the ‘Heyday case’.

On 6th December 2006, the High Court heard a Judicial Review brought by Heyday, part of Age Concern, challenging the ‘default retirement age’ which allows mandatory retirement of employees over age 65. The case has been referred to the European Court of Justice (ECJ).

On 8th November 2007 the President of the Employment Tribunals made a direction that all relevant tribunal cases should be stayed pending the decision of the ECJ. This covers all cases relating to the retirement of employees age 65 or over, where the retirement procedure has been followed.

If the ECJ agrees with Heyday’s interpretation of the European law, some parts of the age regulations would have to be amended. Employers would not be able to rely on the ‘default retirement age’ of 65, from the date the law came into force. So any employees over 65 who have been forced to retire at any time from 1st October 2006 can put in a claim for age discrimination and unfair dismissal in the hope that they would eventually be covered by revised legislation. Any such claims must be submitted to the employment tribunal within three months of the date of dismissal. The decision of the ECJ is expected in late 2008 or early 2009.

What can you do if you are forced to retire?

If you are age 65 or over and you are being forced to retire by your employer, you can take the following action:

Inform your employer of the Heyday case that has been referred to the ECJ. Explain that there is a possibility that the ECJ will find that mandatory retirement ages are unlawful. Explain that because the position is uncertain, the safest option for them may be to allow you to continue working. You can raise these arguments when making a request not to retire.
If your request to continue working is refused you can submit a claim to the employment tribunal for age discrimination and unfair dismissal. You must submit your claim within THREE MONTHS of the date you were dismissed. On the claim form you should request that the claim be stayed pending the outcome of The Queen (on the application of The Incorporated Trustees of the National Council on Ageing) v The Secretary of State for Trade and Industry.
If your employer has not followed the retirement procedure correctly, for example if they did not hold a meeting with you to discuss your request not to retire, your claim may go ahead without having to wait for the result of the ECJ case, as this is likely to be an unlawful dismissal under the law as it stands now.
Source - Age Concern.
Cass6

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Posted At: 15/04/2008 14:39:11

If that is all true then I think I have a good case for being "retired".

Cheers

Cass
johnrichard36

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Posted At: 13/10/2008 22:33:46

In my neck of the woods, Uxbridge, people pay £10 an hour to have their dog walked. One of the walkers I meet has a pack of five. If a household has 2 dogs she charges £10 for the first one and two for the second. Stupidly I don't charge for the dog I take out because he's a delightful Border Collie a pleasure to be with.
Truebluelady

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Posted At: 28/01/2009 12:59:42

I note that the last post on here was last October. What are others doing in the 'credit crunch' then?

Shakespeare's Sister

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Posted At: 24/02/2009 21:51:38

might be worth checking with your local FE college as many are really desperate for teachers who can teach things like electronics, engineering, sales and marketing. Like many on here I was also going to suggest dog walking, but what also about house sitting when people want to go away (you will need insurance) advising small businesses on sales and marketing, refurbishing sewing machines washing machines etc. and selling them on. If you are anywhere near London there is also a market for people to do shopping for busy business people, Good luck. I am going to ahve to defer my pension thanks to Bankers and Gordon Brown, probably be 80 by the time I get around to retiring. Enjoy yours.
ChrisG46

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Posted At: 29/08/2009 11:09:43

What an interesting topic!

I "retired" (just quit!) at 54 after having a minor heart attack, with no pension, no wife or partner, not very much at all, after the MI in 1998. I did have a few quid in the bank, thank goodness, and amazingly I now have a little more than I had then . .

I went sailing for a year, including some of the French canals, in 2000. In 2001, I did a little work (part-time then full-time in a call centre) then got fed up again and went wandering around Europe in 2001 by train, bus and in very cheap hotels. In 2002, I worked part time then full-time in a call centre, eventually doing a little bit of management (poor call, I think!). I quit again in early 2003, and went off on a boat in the UK canal system for three months.

When I got home, I started living with a lady and we're still together.

To generate a little money, and because I was completely fed up with the local newspaper (!), I started an online TV new station locally. Combined with a two-day a week job, it taught me some new skills, helped me revive some old ones, and was interesting - but hard work.

In 2006, I sold that and started making little TV programmes - which are now shown on one of the Sky minority channels - about things that interest me!

I make a surprisingly sufficient (financially speaking) little living, but above all, I get a lot of interest from my life. I'm not sure if I'll ever be able to retire properly, but considering the amount of time I've had not working since 2000, I'd don't have too many complaints at 63.

From my nine years of bumming around so far, I'd suggest that doing things that interest you is by far the best route to working in retirement, semi-retirement, or early retirement.

If you do interesting things, the money is not so important - but because you are interested, you're likely to be good at your work, and that frequently means that it is valued by the people who might like to pay you.
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