Think Like an Entrepreneur for Retirement Income Success

Think Like an Entrepreneur for Retirement Income Success

When thinking of their retirement ‘nest egg’ savings, many folks get very conservative in their thinking. How to reduce expenses, eliminate debt, and lower their costs seem to be paramount in the retirement planning process! And it certainly makes sense.

One difficulty with that thinking is that you begin to have a ’scarcity mentality’ and think like a squirrel would when preparing fro winter. You become so focused on cost reduction and finding ways to skimp that you overlook what is right before you!

I am talking about embracing the ‘abundance mentality’. Like an entrepreneur, you have to open your eyes and observe the abundance of opportunities that exist for creating extra streams of income to supplement your traditional retirement income sources.

There are so many ways for a person to earn an extra $1 thousand to $3 thousand per month that it is difficult to believe that there are so many people going through what should be the happiest times of their life constantly worried about finances.

By the time a person get to retirement age (or at least the age when they start to consider retirement), they have a whole life full of experiences. If a person were to take inventory of those experiences, they would like be able to list lots of knowledge and skills that they have developed of the years. More than likely, they also have a pet topic or subject that they are particularly passionate about.

A couple of examples might help here. How about the lady who knew hoe to digitize patterns that make an embroidery machine produce a design on cloth. Well, she now does a handful of designs each month, puts them on her website and charges folks $15 per month to download her designs. And, but the way, she has more than 2,000 people paying her $15 per month! Might nice ‘retirement’, eh?

There’s also a lady who had a career as a marriage counselor. She wrote a book on relationships and put up a website on the topic and, after a couple of years, she now earns more than $10 thousand per month for her efforts!

There are many stories like these two. Your results may not be as great, but wouldn’t an extra $2 thousand per month help out – a lot? You bet it would. The beauty of this is that you do not have to invest a lot of money, only your time. It will require some work on your part, but then all worthwhile things require your time and attention.

Before you go running off and buy one of those ‘get rich quick’ programs or schemes on the internet, you need to know that many of them are a complete waste of your time and money. Most of the people selling those programs did not get to where they are by using what they are selling! Isn’t that incredible?

If you do your homework and research carefully (which costs nothing), you will find that you can download the necessary software and templates to put up your own website for free! You only cost will be for a domain name ($7-$10) and a web hosting account ($3-$7 per month). It will take you a little time to learn how to do this, but, trust me; it can be done in a couple of hours. From there, you will have to do some research your topic of passion or ‘niche’ to find out what is needed and then fulfill that need. Believe me; it is much simpler than it would appear.

This all starts with developing the mindset of an entrepreneur. Think like a person just opening a business; evaluate the opportunities that exist and produce an information product based on your knowledge and expertise. It just takes time and persistence, but you can do it!

Resources: Don Seibert is a retired business executive who, as an Expert Author, writes timely articles, books and blogs on issues concerning sources of extra retirement income, Having retired twice, Don is host of http://www.RoadToEasyStreet.com Visit the site for a complete discussion of Retirement Income Options.