To be facing the most serious financial trials, at this time in our lives, puts baby boomers in a rather tough spot.
10% unemployment, home prices down 40-50%, we have no idea what health care reform is going to look like, all with the next off ramp being retirement.
But, it is what it is, so we must continue to strive, despite the prevailing obstacles.
This dilemma is behind what financial wellness is based on, a mindset of reducing any and all budget items in the home, while at the same time, constructing an environment for earning extra income.
If we sit around and complain, we forfeit control of our abilities to influence our finances.
We are at the whims of our employers or whoever is at the source of our income.
The 10 Opportunities listed below, will give you ideas on the types of businesses you might look at starting.
Remember, it must be something you enjoy doing, otherwise it will be difficult to maintain essential enthusiasm.
Many baby boomers have spent their entire lives on jobs they didn't much enjoy.
So maybe, it's high time we took something we do enjoy and convert it to an income source.
Let's take a look: 1) Calligraphy Business.
The art of beautiful handwriting could be a successful part time business for the individual who enjoys this type of creative expression.
For invitations, greeting cards, announcements, certifications, etc.
A set of calligraphy pens will get you started, available at your local art supply store.
For books that instruct how it's done, check your local book stores.
2) Baby-sitting Business.
Yes, you can make a very respectable income taking care of other people's kids.
The furious pace that many mothers maintain requires they get some relief every now and then, and that's where you come in.
You can take it a step further and be a baby-sitter broker, advertising your business while having several baby-sitters on-call.
This way your clients are assured of having a sitter whenever they need one.
3) Party Planner Business.
Everybody loves a Party.
Being a planner for businesses and individuals is exciting and profitable, You arrange the entertainment, music, food, decorations, invites, etc.
Find your nearest party supply store, and advertise your services and pick up everything you need right there.
4) Pet Boarding Service.
People's pets are legit family members.
They want assurances their pets are well taken care of while they're away on vacation, business trips, etc.
You provide a "home away from home" for their pets, and your clients enjoy themselves, knowing their pets are in excellent hands.
If you enjoys dogs, cats, birds, etc.
and have an adequate facility to house them, this could be for you.
5) House Cleaning Service.
There is an expanding market for maid service.
With the population getting older, and two working outside the home, more couples are looking for help keeping their homes fresh and clean.
Off course no training is necessary, and the required equipment, you probably already have.
And if you do good work, word of mouth advertising travels fast.
Be prepared to pick up new clients.
6) House-sitting Service.
With everyone constantly on the go, home owners, quite often need help watering the plants, feed their pets, picking up the mail, etc.
, hence the burgeoning house-sitting industry.
You can even manage a group of house-sitters, and take a percentage of every job.
Reading books on how to run a house sitting business, will be extremely beneficial.
7) Lunch Delivery Business.
Do you enjoy cooking? Do you have a dish that family and friends rave about? Convert in to profit by delivering to local offices.
Create a menu with your specialties listed and provide every office with a copy.
Or you can provide lunch to offices with the food supplied by a local restaurant.
Highlight their specialties, negotiate a reduced price for each order, and the mark up will be your profit.
8) DJ Service.
Many events put on by organizations and private individuals require music.
If you enjoy music and have access to many different genres, have a powerful sound system portable enough to haul around with easily, you could be spinning the tunes at weddings, anniversaries, office parties, etc.
You could even promote a dance at a local facility and charge, per couple or single.
Make it happen! 9) Apartment/Roommate Finder Service.
If you've got a home computer, become an apartment broker, putting renters together with empty apartments.
If you list open apartments at no charge to the owners you'll have a large inventory of available places for your prospects to choose from.
Print and circulate a list of available rentals.
This could be big! 10.
Bicycle Repair Service.
Like working with your hands? The profits available in bike repair are plentiful.
Part time bike mechanics command $20-30 per hour! And the popularity in bicycles will continue to climb with gas prices and people being encouraged to get more exercise.
The tools required are inexpensive and easily accessible.
Become familiar with bicycle clubs in your area and advertise in the usual outlets.
Turn some wrenches and generate cash flow! Every time I look over these opportunities, I get excited about the possibilities.
I'm in the process of starting at least 3 businesses in 2010, to replace my "job" in the IT field! If you have any questions, don't hesitate to contact me.
Don't let the current economic woes put you on the sidelines.
Get in the game, and take your cuts! Find something you enjoy doing and convert it to income.
You'll be amazed how much you'll learn about yourself and about business!