How To Build A Passionate Online Retirement Income
September 29, 2009
Are you worried that you can’t afford to retire? If so, you’re not alone. Thousands of people are looking for way to supplement their retirement income, because they just won’t have enough money to meet their needs.
So where do you start? Well taking what you do in your current job, into your retirement is one idea. But, if you don’t love your current job, it may be smarter to supplement your retirement income with something you’re passionate about.
And to discover what that “something” might be, try making a list containing:
1) Everything you have experience in that you could do to earn money. Include everything. You’ve probably done a whole bunch of things earlier in life that you’ve forgotten about. Even jobs like dog walking and baby sitting have a place on your list.
2) Things you enjoy that you want to learn more about. This list will probably include hobbies and interests that you have.
3) Things you have no experience in that you’re keen to learn about. Many people want to retire so they can have the time to do things they’ve always wanted to do. And these are the things you’ll probably want to include in this part of the list.
Next, go through your list and cross out anything that you wouldn’t want to do to make money in your retirement. Next cross out anything that you would enjoy doing, but not enough to turn it into a part-time job or business.
Now, examine your list carefully and circle four remaining items that appeal to you most. And start thinking about ways you could turn them into a part-time job or business.
If you’re struggling to do this, browse the Internet to see how others are earning money from their passions. Look for Internet sites and blogs where the owner is passionate about their topic. Also, look for sites that contain a personal element as opposed to the anonymous, “who the hell owns this anyway” type website.
Also, look for websites that draw you deeply into their niche content, rather than those that are merely a sales pitch for their product.
Here’s a gem of a website I found recently that ticks all these boxes: Frugal RV Travel.
Webmasters Marianne and Randy target a niche market of folk who want to take long trips in an RV on a tight budget. And here’s a few reasons their niche website is so successful.
1) Credibility: On their first page, the words “As Seen In The New York Times” jumps out at you, with links to Marianne’s interview with the New York Times. So right away, you know that if the New York Times has taken the time to interview a webmaster, she must know her stuff.
2) Proof That It Can Be Done: Page after page chronicles their many RVing ventures. And for anyone who doubts that they can do it too, Marianne breaks down the costs of each trip, including a 12 month journey which cost them a total of $7175 dollars. Amazingly, that total included gas, food and health insurance – cheaper than living at home.
3) Great Products: If you want to make money, you need to sell something and they are definitely selling products that people in their niche are looking for. In fact, after folk have browsed their awesome content – they will be desperate to buy from them.
The main products they sell are a series of e-books – the Frugal Shunpiker’s Boondocking Guides. The books show readers how to camp for free, save money on groceries, attractions etc, maps and detailed itineraries of each location.
Writing this type of guide may sound like hard work but it really isn’t. In fact, resources like the 7 Day E-book show you how to write this type of guide in only one week.
I’ve written guides like this myself and there are two things you should know:
If you’re passionate about your topic, the guide almost writes itself.
The guide doesn’t need to be long. Your customers want to know how to do something quickly – they don’t want to spend a whole year reading about it.
In fact, Marianne’s Texas guide is only 74 pages long. And when you consider it also includes maps, that isn’t too much writing. I have even sold information products as short as 23 pages. They sold well and my customers loved them.
4) Lots of pictures and personal stories: You’ll notice the site has lots of pictures and personal stories. This helps customers identify with Marianne and Randy – customers who want to do what they do; customers who are desperate to buy what they are selling.
How Can You Do All This Too?
I won’t pretend building an online retirement income like this is easy. In fact, if you haven’t retired yet – I would recommend starting now.
A lot of work has gone into Marianne and Randy’s website. But what I did notice is that they used Site Build It to build their website and that didn’t surprise me. Many of the high quality websites I stumble upon online are built by Site Build It users.
And if you don’t know where to start, Site Build It may be for you. It’s an online business system, which helps folk who don’t have a clue what they want to do, to build a website from scratch. It includes everything from brainstorming, to SEO, to building and marketing the actual site. You can discover how other business owners are using Site Build It here.
Related Reading On This Site
Protect Your Financial Security In Uncertain Times
How Not To Promote Your Business On The Internet
How To Make Good Money In Terrible Times
The Recipe – 26 Practical Resources For Starting An Online Business
Related Reading On Other Sites
Through A Glass Grimly
Through A Glass Grimly 2
Comments
16 Responses to “How To Build A Passionate Online Retirement Income”
Got something to say?
Cath Recommends
Change Your Life
Make Money
Talk To Me
Successful And Outstanding Blogger
Hi Catherine,
These are all great ideas. I love the part where you said to cross off that which you don’t want to do for a living. That’s works. Whenever I’m trying to figure out what I want to do (work wise or via my blogging) if I know what I don’t want to do, it gets me closer to my true passion.
Writing a guide is a great idea. In fact it’s something I’ve thought of doing, but until I can bank more free time, it will have to wait.
Barbara Swafford’s last blog post..Blogging Etiquette – Write The Wrongs
You’ll be able to contribute to the plan without first paying the usual federal (and frequently, state) income tax on your contributions. Health Supplement
Hey Cathy,
What a coincidence, I recently wrote post on it. However, I believe that most important part is not that how hard it is or how long it takes, but it is a sign saying ” you will one day reach there too!”
Passion & work is the most powerful combination.
P.S.: I loved your way of casual recommendations.
Chris Peterson’s last blog post..Follow Your Passion, Your Dreams!
WOW…that RV article is certainly an eye-opener! I would have thought that RVing would be extremely expensive all the time.
Thanks for highlighting this! Will be sharing it with my network.
Barbara Ling, Virtual Coach’s last blog post..Today’s Humor of the Day – Animator VS Animation 2
Hi Cath – I LOVE the RV site – I am bookmarking it! I have got the RV bug big time – an online friend from Triiibes has moved into her van and I’m pretty envious of her for that. I know I romanticize, but it just seems like the best thing ever! Thank you for the links to the “Grimly” series we’re doing with Dot. I think what we’re going to find out with that one is it’s not so grim, really.
I like how you examined the process – all the pre-work/brainstorming that needs to be done. Some people never get past it. I think others have unrealistic expectations. Like any other business, building takes time and there is a learning curve, especially if most of it is D-I-Y. Which leads to frugality by necessity. “Frugality is the new black,” don’t'cha know.
I’m off to the RV site to find out what a shunpiking boondocker might be. I think I have an idea.
Betsy Wuebker’s last blog post..THROUGH A GLASS GRIMLY, PART 3
[...] How To Build A Passionate Online Retirement Income | Catherine Lawson [...]
Hi Barbara – It’s a good technique and it’s often easier to think of things you don’t want. I started doing it a few years ago, after reading “Don’t Forget Your Parachute”.
Hi Chris – I’ll check out your post. I like that sign. The way to pull off casual recommendations is only to include them if you’re writing on a particular topic. I see too many people write a topic just so they can recommend a product and it’s just too obvious.
Hi Barbara – I thought it would be expensive too. I like frugal travel and try to avoid paying full price, so I found the site by Googling “frugal rving” and it was number one.
Hi Betsy – You’re welcome. Isn’t it an awesome site. I love the “shunpiking boondocking” thing – already googled it.
So many people seem to be travelling in an RV full-time now. It sounds like a really exciting life.
As you say – building a business it takes time – especially when you’re bootstrapping. That’s why it’s so important to choose something you love.
Very interesting article – I have been selling vitamins for years to pay for my kid’s activities and our health ins. I just find I lose interest in selling things – even if I am knowledge and the products are virtuous and truthful….
I think my best asset is that I am a human resources machine…someone needs something – I can point them in the right direction or to the right book or person…..I just do not want to do it for them….no one is ever inclined to pay for my advice and suggestions…
and we live right now with so many “know it alls”….everyone is the expert…just give me a good book…
Patricia’s last blog post..Comfort
Marianne’s books and site are a good example. What is nice about the RV lifestyle is that it can be less expensive than a stix-n-brix house way of life. There are many aspects of the RV budget you can control. How much it costs you to stay is a big one. If you can boondock or at least not pay the usual rate for camping, you can be way ahead. You can also control how much you spend for fuel by how fast/far you travel. Staying put for a while reduces this expense. There is also plenty of work on the road. Some jobs come with a free or low-cost RV site in neat places to work.
Jaimie Hall Bruzenak
author of Support Your RV Lifestyle! An Insider’s Guide to Working on the Road
Jaimie Hall Bruzenak’s last blog post..Community forests – what a great idea!
Hi Patricia – Being a human resources machine can be a good thing. I bet you could write “how to” guides on a few subjects. And selling them isn’t so difficult if you’re passionate about the subject.
Check out the Frugal Rv’ing site and you’ll see what I mean.
From what I know about you, I think you’ve done way to much stuff for free in your life. You deserve to earn money for your work, just as much as anyone else does.
I agree that it takes time to build this type of income, so people should start early – long before retirement.
vered | blogger for hire’s last blog post..Internet Addiction Rehab Center: Do We Really Need It?
Hi Cath – what an interesting post! The site looks really good – “affordable adventures” jumped out at me. Your suggestions for finding an income in retirement are really good ones for people at any stage of their life, I think – after all, life should be one big retirement, anyway, shouldn’t it? (in a good way)
Robin’s last blog post..Relaaaaaaaaaaax
Hi Jaimie – I’ve been checking out your blog and it’s another awesome resource. I particularly like some of the posts you’ve written on how folk make money while they are travelling. I’m betting that would appeal to a lot of people.
Hi Vered – True – I think with this type of thing, you can’t plan too far ahead.
Hi Robin – thanks. I know what you mean – instead of planning what they want to do when they’re 65, a lot of people are thinking more about how they would like to live right now, which is a good thing.
Hi Cath. “Cross off that which you don’t want to do for a living…” Now you’re talking! I’m so resisting even thinking about retirement right now. When I was working for someone else I had a good lot of mutual funds built up and was content by that. Now they’re supporting me while I build my own business — you never know what the future will bring — I thought I was all set. In a way, I feel semi-retired already. Not that I have a lot of down time, but just being my own boss makes a huge difference. Maybe this will change in a few years, but I’m just not focused on retirement.
Davina’s last blog post..6. Island Thyme Reflections
Cath,
It’s funny you happened to do this post on building a passionate online retirement income because I was just discussing this very thing with my dear hubby the other day.
The closer he gets to retirement “age”, although he’s several years away from it, the more nervous he gets about earning enough income to retire and live on.
With the knowledge, expertise and passion he has on a variety of “guy” topics, I’ve suggested he seriously consider starting a blog or two that he can build into a steady income to supplement retirement money. I’m going to have him read your post and check out the travel site to see what I’m trying to tell him.
Lin’s last blog post..Abercrombie & Fitch Pitches New Trashy College Line T-Shirts to America’s Sexualized Youth
Excellent list, Cath. Right now I’m writing an eBook which I am passionate about and like you said, it’s practically writing itself. In fact so much I’m having to be careful how long I make it.