Can a micro business help you retire better?

Not having enough money for a comfortable retirement is paramount

list of financial problems among older Americans, according to

a recent Gallup Poll. It even outweighs people’s concerns

have a serious illness or accident.

With statistics showing that Americans can expect 20 or more

more years after reaching retirement age and our lifespan

as they went up further, these fears could be well-founded.

Three out of ten American workers have not saved at all

retirement, and among those who do, many have not saved

enough, according to another study. The study showed that

three in ten employees aged 55 or older have saved less

than $ 25,000.

Many of us plan to work after normal retirement age.

But at this rate, we may not have a choice. Some of us inside

the Baby Boom generation can continue to work

65 years old, whether we like it or not.

There is an alternative to working full time until we get there

in a wheelchair. It’s also a smart choice when we pass by

50 years and wants to slow down a bit, but still stay active and

stimulated. And that is to gradually make the transition

working full-time as an employee to do business for

ourselves on contract or per project basis. By planning ahead,

you can gradually turn your work skills into a “micro business”

while you are still employed.

If you have worked in a specific industry for 10, 15 or more

year you are ideally suited for this type of transition. you

can set up a home office in a spare room of your house,

get the equipment you need and establish gradually

your company.

When the time comes and you want to make the change,

you can do it on your own terms – often by negotiating one

contract with your existing employers for 50 percent of your

time. There are other ways to make the change, such as

negotiate with your employer about a shortened working week,

or working from home as a “teleworker” a few days a week.

Still others started their private practice by moonlight

– do a few projects for other clients at night or

on the weekends of the year preceding their departure, and

build a clientele in this way. Provided such work is not

prohibited by your full-time employment contract, it is another

smart way to start.

Enjoy the freedom

Being your own boss means you can choose how hard you are

work and how much you are reimbursed. If you want to earn

extra money for an upcoming trip or purchase, you can work a few

extra hours per week or take an extra project. If you want to take

four weeks off and visit friends in Florida, just plan ahead,

keep your customers informed and you can get started.

Maybe that’s why people over 50 are much more likely

to work as a self-employed person, according to a commissioned study

by the American Association of Retired Persons (AARP).

The study found that 16 percent of people were over 50

self-employed, compared to 10 percent of the general

staff. Plus a third of the self-employed seniors

starting entrepreneurs who started their business after their turnaround

50 years and worked for other people for many years.

Doing business yourself … especially after your life

being an employee for a larger organization … is next

best to be financially independent while you are still

earn a living.

You can reduce your hours worked per week to make it easier

retirement. Or work in bursts of activity to earn extra money

for special purchases or travel. And the best thing is … often

doesn’t even feel like “work” anymore.

Source by Barnaby Kalan