Best Kept Secrets For How To Work From Home After 50

By | May 23, 2019

For most seniors having enough money to live comfortably is not an easy task. I have some best-kept secrets for how to work from home after 50 and build wealth when there is more month at the end of the money. It is possible to live your dream and enjoy the fruits of your labor. Allow me to show you how.


How Much Money Do You Need To Retire Comfortably?

That depends. Everyone is different and no two people have the same circumstances. How healthy you are now and how long you live, where you live, and what you consider comfortable has a lot to do with the amount you must have in savings/investments. At what age you retire also has to be considered if you will be eligible for Social Security.

According to a report from the AARP magazine that on average a rule of thumb that most people will need 70% to 80% of their total monthly pre-retirement income after they stop working. Dan Yu, managing principal at EisnerAmper Wealth Advisors suggest that 70-80% may be too low of an estimate.

Yu suggests to his clients that they will need at least 100% of pre-retirement income for the first 10 years after retirement. This is because spending doesn’t stop or at least slow down for the first 10 years since most seniors ramp up their traveling time.

The truth of the story is there is no magic amount to strive to attain before you retire. There are too many factors that must be figured into the equation to come up with a one-size-fits-all amount.

The best strategy is to start a budget NOW to track expenses. Learn what you are spending now. Figure in all your monthly expenses. For example, by using the figures above, if you spend $3500 a month on living expenses then you will probably spend between $2500 to $2800 once you retire. This figure is not including any travel expenses, just your daily living expenses.


retire inspired

What kind of nest egg you have in retirement accounts must also be considered, especially when it comes to making sure it lasts as long as you live. Yu explains that most people don’t figure in longevity when they set savings goals. People are living a lot longer now. As an example, a healthy, middle-class couple who are 65 have a 43 percent chance that at least one of them will live to the age of 95. Savings needs to be adjusted accordingly.

Some Financial Hardships to Overcome

With the cost of living skyrocketing it is getting harder for most people to live comfortably after retirement. Health insurance, medications, dental and vision needs will surely rise and if sufficient income is not available, what then? I was thinking about this the other day and decided to write it down.

The hardships I wrote down is assuming there is no mortgage payment nor car payment. The items I figured were living expenses only. They are something to think about:

  • The rising cost of living, such as food, taxes, gasoline, utilities, home repairs, etc.
  • Affording to live within your means
  • Having 40+ years of experience that you can’t use or teach others
  • Being able to afford vacations or travel
  • Healthcare, insurance premiums, medications, doctor co-pays, dental and vision needs
  • Taxes on Social Security
  • Helping children or siblings with their finances
  • Building a legacy for your family
  • Expenses of a retirement home
  • Taking care of family disabled siblings or children

planning for the future


Even though these expenses are normal for the average senior, many times they are not included with their savings preparations before they retire. This doesn’t necessarily mean that retirement must be put on hold until an adequate amount of savings can be acquired. There is still hope for the average senior who doesn’t have an adequate nest egg to support them in retirement.

Another factor to consider is the loss of employment when nearing retirement age. What happens when all income is lost before retirement age? Do you take early retirement and the reduced Social Security amount that the government pays you every month? What happens if you are still making mortgage payments?

These are all factors to consider in devising a plan for support when that ultimate day arrives when you can finally stop working to enjoy the freedom you have struggled your whole life to reach.

There is still hope for people who find themselves in this situation of having more expenses than income. I have a secret that can help bridge the shortages of income that have befallen so many.

How To Work From Home Without An Investment

When the day finally arrives that you have won your freedom of working so hard every day and staying home relaxing has a new set of challenges preparing for. If the nest egg that has been accumulated over the years is not in the $1,000,000 range, there may not be enough money to last throughout the golden years of retirement.

The above scenario is more common today as most employers favor younger employees over more experienced older persons. This fact compounded with not having adequate savings to afford all the expenses of everyday living is a very scary fact indeed. So what are the alternatives?

The best alternative to lost income or not having enough income is to work from home to bridge the shortages of income. Seniors have so much to offer in experience, time, and availability. Opportunities abound for the unemployed as well as the underemployed or retired seniors looking for ways to continue to earn an income.

There are many careers that don’t stop after a Peron retires. For the business professional consulting for businesses or previous clients can be a great source of revenue. Advising these businesses how to streamline their operations or how to keep old equipment running at optimal levels can be a full-time position.

For seniors who are not business professionals can still find very lucrative positions online by becoming their own boss and running their own businesses. Tax deductions for a home-based business get all the benefits of any brick and mortar business. This reduces the expenses of many necessities such as mortgage interest, utilities, phone and internet services, driving mileage, insurance for home and auto, and the list goes on and on.

For a full list of these tax-saving deductions please read my review of Ron Muellers Home Based Business Deductions.

By having a home-based business for seniors, as well as the unemployed or underemployed, earned revenue doesn’t have to stop. It is very achievable and the cost of operating a business from home is very cost effective.

For as little as $300 a year, a senior can have a platform that gives them 50 websites, plus the online tools, plus training, plus a community of successful entrepreneurs all working from home. That translates to less than a dollar a day to operate a home-based business. Where else in the world can you operate a business for less than a dollar a day?

To learn more about this scam-free opportunity read my review on Wealthy Affiliate University.

The opportunities are endless when it comes to working from home. For the first time in your life, you can finally do something you love to do. Follow your heart and start an online business that you really have a passion for. Whether it is gardening, writing, playing a musical instrument, whatever it may be, the trick is finding out the one thing that you really love to do. If, for example, you have experience in what you love to do then that’s even better. Take that experience and help others solve their problems.


working from home


How To Work From Home and Succeed

Having an online business working from home is one thing. Finding customers and getting traffic to a website is a whole new ball game. Where would someone start to get customers? That is the other secret that must be learned to succeed in operating a successful home-based business.

Marketing online is very similar to operating a brick and mortar business with one twist. People don’t know your business is available to them on the Internet. You have to get your business out in front of people so they know you exist.

With a brick and mortar business, people find your store as they drive by or read your advertisements in the newspaper. With the Internet, people won’t stop by just because you are online. You must market your business to them.

There are several ways to help people know about your business. One of them is paid advertisements with search engines like Google or Bing. This can be a little expensive and has a learning curve to be able to advertise without spending a lot of money needlessly.

As I said earlier the most cost-effective way of learning how to market online is through getting training and support from a proven system by following a step by step procedure. This way even seniors on a very tight budget can master the art of marketing online in the shortest amount of time.

Social Media is a great place to start marketing your home-based business. Picture of things you offer on Pinterest or Instagram is great to show people who you are and that you are open for business. Facebook, Twitter, and Linked-In are also proven platforms with hundreds of thousands of people available to you.

Forums in your particular niche is another great place to let people know your website is available to them. Just go to Google, type in your particular niche, in parenthesis, then type community. A whole list of forums will display that you can join.

Don’t spam your links else you will be barred from posting. Just help people solve their problems. If they like what you contribute, the word of mouth advertising will bring traffic to your site. It will take time for the word to be broadcasted, but the best benefit to this is the backlink you get from an authority site. This helps extremely well for ranking your website higher in the SERPs.

Learning about how to use keywords in your articles that you publish on your website is another important aspect of marketing online. If, for example, you don’t use a search term that people are using to find a product to buy you will miss the opportunity to earn their business.

That is why I recommend reading how to use keywords in an article to learn an effective way of marketing your business online.

Submitting your ideas or solutions to followers of Redditt, Ask, YouTube, or other forums in the niche that your business is in can be very instrumental in creating a successful advertising campaign – all for free.


Retiring from the workforce doesn’t mean that you will stop being able to continue to earn an income. There is plenty of money to earn from every corner of the Internet. Now that time is on your side the Internet is your keys to finding lost income.

Being retired doesn’t mean that you are over the hill. It just means you are opening a new chapter in your life. I suggest making this chapter a great one. Build a legacy for your family that you were never able to do in the past.

Exceed Your Vision

6 thoughts on “Best Kept Secrets For How To Work From Home After 50

  1. Lee

    I am not a senior but it’s on my mind. I am moving into my late 40s and I am considering retirement. Certainly, you have outlined all the challenges retirement will mean as the cost of living continues to rise. I know that it isn’t just an extra but it is a necessity to find a viable business to supplement and eventually replace income. Online affiliate marketing is a way to go.

    1. Kenneth Merrick Post author

      Thank you, Lee, for your reply. It is my thoughts also to operate some kind of online business where you are always earning revenue. We can’t depend on the government to support us since they spend like they are rich. The more streams of income you earn the more likely you will never be in debt. Remember, the borrower is a slave to the lender.

  2. RoDarrick

    This is a great awareness post for seniors majorly because of the hassles included in the after-work period. Making money online is a new wave and specifically, owning a website and getting involved in blogging and affiliate marketing is a sure way to earn money online. At least, if well incorporated in training and support it will help sustain the level of income and more to provide a worthy living after retirement or after 50. Great article.

    1. Kenneth Merrick Post author

      Ro, the longer we can remain self-reliant and provide revenue to support our lifestyle, the longer we can remain diligent with financial decisions that control our destiny. My plan is to continue to earn an income many years after retirement with online marketing and working from home.

  3. Faheem

    The first sentence alone sounds painful. Imagine being old and not having the means to live comfortably. Makes me think. It’s all about investing in your future. I guess before, there was a stronger family structure and everyone would live together and the children would become the breadwinners when their parents became too old. That used to be a major form of investment. That was never the only way though, one could have a nest egg or a business or someone owing you (similar to retirements), but now the focus has come more on the latter parts (due to economic and social reasons).
    Nice thoughtprovoking read and introduction to having an online business.

    1. Kenneth Merrick Post author

      You know, Faheem, when I began to write this article the research lead me to shocking discoveries about my own retirement wants and needs. The longer people can continue to earn an income the better off they will be. Building an online business for pennies a day that will earn you $100’s is logical and necessary for the long term.


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