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Retirement is often seen as a time for relaxation, travel, and leisure—but who says it has to follow the traditional script? Entrepreneurship in retirement provides a sense of purpose, personal fulfillment, and even an extra source of income. If you’ve ever dreamed of starting a business, retirement might be the perfect time to make that dream a reality.

Why Entrepreneurship in Retirement?

With decades of experience and wisdom under your belt, you’re uniquely positioned to navigate the challenges of entrepreneurship. More importantly, retirement gives you something you didn’t always have during your working years: freedom.

Starting a business doesn’t mean going back to the grind of a nine-to-five. Instead, it’s an opportunity to pursue your passions, live intentionally, and design a work-life balance that aligns with your values. Whether it’s transforming a hobby into a side hustle or launching a full-fledged venture, entrepreneurship allows you to write the next chapter of your life with creativity and purpose.

The Right Mindset for Entrepreneurial Success

Before diving in, it’s essential to approach entrepreneurship with the right mindset. Starting a business should be about more than just making money—it’s about personal growth and fulfillment.

“If your primary goal is to earn as much as possible, then you might not be ready to retire,” says Tim, one of our financial guides. “Entrepreneurship is about finding and solving a need in a way that aligns with your passions and values.”

By focusing on what excites and motivates you, you’ll find the process of starting a business far more rewarding, both emotionally and financially.

Creative Business Ideas for Retirees

Not sure where to begin? Here are a few business ideas that retirees can explore:

• Turn a Hobby into a Side Hustle: Whether it’s woodworking, painting, gardening, or baking, your favorite pastime could become a profitable venture.
• Consulting or Coaching: Leverage your professional expertise to guide others in your former industry or help younger generations navigate their careers.
• Online Businesses: From crafting an Etsy store to offering freelance services, the internet provides endless opportunities for retirees to work on their own terms.
• Community-Focused Ventures: Start a small business that serves your local community, such as a tutoring service, pet sitting, or event planning.

Financial Considerations for Entrepreneurship in Retirement

While the prospect of starting a business is exciting, it’s important to carefully evaluate your financial situation. Questions like, “How will this impact my Social Security benefits?” and “What’s the upfront investment required?” are essential to address. Having a solid financial plan in place can ensure your venture supports, rather than jeopardizes, your long-term financial stability.

Embrace the Opportunity

Entrepreneurship in retirement isn’t just about launching a business; it’s about embracing a new way of living. It’s a chance to combine your passions, skills, and resources to create something meaningful for yourself and others.

Whether you dream of turning your hobby into a business or tackling an entirely new venture, starting with a clear vision and thoughtful planning can transform your retirement into the most fulfilling chapter of your life.

Are you ready to explore the possibilities? Contact our team at PrairieView Wealth Partners to ensure your entrepreneurial dreams align with your financial goals. It’s time to live your retirement with intention and purpose!

When it comes to investing, one of the most common questions people ask themselves is, “Am I invested right?” Striking the perfect balance between risk and reward can feel like a daunting task, especially when emotions enter the picture. At PrairieView, we believe that aligning your investments with your mindset is the key to long-term financial success and smarter investing!

The Role of Emotions in Investing

Investing can be an emotional journey. Fear, uncertainty, and excitement often cloud decision-making, leading to choices that may not align with your financial goals. The first step to making smarter investment decisions is removing extreme emotions from the equation. By focusing on logic and strategy, you can make more informed and confident choices.

Beyond Simple Asset Allocation

While asset allocation is a foundational part of any investment strategy, it’s not the whole picture. Diversification by asset class is important, but at PrairieView, we take it further. We perform deep, quantitative analyses of each person’s unique financial situation to ensure their portfolio reflects both their mindset and long-term objectives.

Why Alignment for Smarter Investing Matters

Investing isn’t one-size-fits-all. Your goals, risk tolerance, and financial priorities are unique, and your investments should reflect that. Aligning your beliefs with your behavior means crafting a portfolio that allows you to stay rational—even when markets are anything but. This approach empowers you to stay the course and make decisions grounded in your values, not emotions.

At PrairieView, we work with you to create an investment strategy that truly aligns with your mindset, so you can move forward with confidence—no matter what the market brings.

January is Financial Wellness Month: Build a Life of Abundance and Purpose

At PrairieView, we believe financial wellness is about more than just balancing numbers or building wealth—it’s about creating a life that aligns with your deepest values, dreams, and purpose. A life of abundance doesn’t simply happen; it’s crafted intentionally through clear vision, thoughtful planning, and the confidence to know you’re making decisions that reflect your priorities.

This Financial Wellness Month, we invite you to take a step toward your #TwoCommaLife—a life rich in meaning, financial freedom, and fulfillment.

What Does Financial Wellness Look Like?

Financial wellness isn’t one-size-fits-all. For some, it’s the freedom to retire early and travel the world. For others, it’s about funding a child’s education or supporting a cause close to their heart. No matter your goals, financial wellness boils down to creating a strategy that supports the life you want to live, both now and in the future.

Here’s how you can start this journey:

1. Define What “Coming to Life” Means for You

What does abundance mean to you? Does it mean spending more time with your family, pursuing a passion, or giving generously to causes you care about? Take time to reflect on what makes life meaningful for you—and how your finances can support those priorities.

2. Develop a Strategy to Support Your Goals

A clear plan is the foundation of financial wellness. Whether you’re planning for retirement, managing investments, or navigating tax strategies, it’s crucial to align your finances with your long-term vision. At PrairieView, we help you create a roadmap tailored to your unique needs, ensuring every decision gets you closer to your dreams.

3. Build Confidence in Your Financial Future

Uncertainty about the future can feel overwhelming, but with the right guidance, you can gain clarity and peace of mind. Our approach focuses on simplifying the complex, so you can make informed decisions without second-guessing yourself. From diversifying your investments to protecting your assets with smart risk management, we’re here to help you build confidence in every aspect of your financial life.

Why Choose PrairieView?

At PrairieView, we go beyond managing wealth—we help you discover what’s possible when your finances are aligned with your purpose. Our mission is to help you live your #TwoCommaLife by empowering you to embrace abundance, prioritize what matters most, and plan for the unexpected.

As we celebrate Financial Wellness Month, take this opportunity to evaluate your financial health and set the stage for a brighter future. Whether you’re just beginning your financial journey or fine-tuning your retirement strategy, we’re here to guide you every step of the way.

Start Today!

This month, challenge yourself to dream big and act boldly. Define your goals, map out your strategy, and commit to taking the next step toward your abundant life. Ready to get started? Contact PrairieView today and let us help you align your finances with your dreams.

Financial wellness is within your reach—let’s make this year your most purposeful yet!

Teaching your children about money is one of the greatest gifts you can give them! Financial literacy is a skill that lasts a lifetime, empowering them to make informed decisions, build wealth, and live abundantly. The earlier you start this journey with your children, the more prepared they’ll be to navigate their own financial futures.

Here’s how to set them up for long-term success:

1. Teach the Basics Early

Children are like sponges, absorbing the lessons they observe and experience. Use everyday opportunities to introduce basic financial concepts:

• Saving: Encourage them to set aside part of their allowance or gift money for future goals.
• Spending: Help them understand the value of money by allowing them to make choices, such as buying a toy or saving for something bigger.
• Earning: Introduce the concept of working for money through chores or entrepreneurial activities like a lemonade stand.

2. Model Healthy Financial Habits

Children learn more from what you do than what you say. Be intentional about modeling good financial behavior:

• Talk openly about budgeting, saving, and spending responsibly.
• Involve them in simple financial decisions, like grocery shopping with a set budget.
• Show them the value of patience by saving for bigger purchases instead of relying on credit.

3. Make It Fun and Engaging

Financial literacy doesn’t have to be boring!

• Use games like Monopoly or online financial apps designed for kids to make learning fun.
• Create visual aids, such as savings jars, to show progress toward a goal.
• Celebrate milestones, like saving their first $100, to instill pride in their achievements.

4. Open a Savings Account

As your children grow, introduce them to banking. Opening a savings account can teach them how to manage money on a larger scale:

• Set savings goals and monitor their progress together.
• Teach them about interest and how their money can grow over time.
• Gradually introduce more complex topics like investments as they become teenagers.

5. Teach the Importance of Giving

Generosity is a cornerstone of a fulfilled life. Help your children understand the joy of giving by encouraging them to set aside a portion of their money for charity or causes they care about.

6. Build Financial Confidence

Empower your children to make mistakes in a safe environment. If they spend all their money on a toy and later regret it, use it as a teachable moment. These small lessons build the confidence they’ll need to handle bigger financial decisions as adults.

7. Plan for Their Future

As parents, part of setting your children up for success involves planning beyond the basics:

• Start a college savings plan: Consider options like 529 plans to save for their education.
• Introduce investing: Once they’re older, teach them how to grow their money through investments.
• Provide guidance: Share your knowledge, and connect them with trusted financial advisors who can help when the time comes.

Building a Legacy

By starting your children’s financial journey early, you’re equipping them with the tools to create their own Two Comma Life. You’re not just teaching them about money—you’re teaching them about responsibility, independence, and the power to live with purpose and abundance.

If you’d like help crafting a financial roadmap for your family, we’re here to support you every step of the way. Let’s work together to ensure the next generation is ready to succeed!

 

Tune in to the Retirement Readiness Podcast to hear more!

Did you know that a whopping 57% of Americans expect to work in some capacity after retirement? 

Many people find that a traditional retirement filled with leisure just isn’t for them, and many retirees are exploring the exciting world of retirement hobbies that can also make money. Today, we’re exploring common hobbies that could generate extra income to support your Two Comma life in retirement – from arts and crafts to teaching and more. Let’s dive in!

Turning Retirement Hobbies into Side Hustles: The Pros and Cons

Turning a hobby into an income-generating business can have a host of benefits:

• You get to spend time doing what you enjoy
• You can boost your income and live a more comfortable lifestyle
• You can keep yourself mentally sharp 
• You can socialize and build new connections with others

Related: How to Overcome Boredom in Retirement and Find Personal Fulfillment

Of course, it’s not always sunshine and roses – trying to monetize your hobbies can come with startup costs, tax implications, and in many cases a significant time investment. Additionally, turning your hobby into a job might take some of the fun out of it for you. 

The key to creating a side hustle that lasts is to focus on activities you already enjoy. Before you get started, consider how to leverage your existing skills and interests to generate some extra income.

6 Retirement Hobbies that Make Money 

If you’re interested in taking up a new hobby and making some extra dough, here are some ideas that might help you get started. 

1. Vintage & Antique Reselling

Selling vintage and antique items can be a rewarding and lucrative hobby for retirees. With a flexible startup investment, you can build a collection and sell your finds online or at local markets. While the income potential varies depending on the rarity and value of the items you find, it can be quite lucrative in certain markets. 

Earning potential: On average, antique resellers make $44,589/year.

Startup costs: Packaging and online selling platform fees (such as those collected by eBay or Etsy) will likely cut into your profits – as well as display equipment and product photography for your items. 

Tips for getting started: Stay up-to-date on current trends in the antique market to identify in-demand items and adjust your pricing strategy accordingly. Be sure to gather information, invest in research and authentication, and consider what marketing tactics you could use to get the word out about your business. 

2. Selling Art & Crafts

Turning your artistic talents into a profitable hobby can be a fulfilling way to spend your retirement. Whether you’re a painter, woodworker, drawer, knitter, or crocheter, there’s a market for your creations. Like reselling, profits will vary, but it’s a great way to build new connections with people who share your passion.

Earning potential: The U.S. Bureau of Labor Statistics reports that craft artists bring home about $43,610 annually.

Startup costs: While it will vary widely depending on your craft(s) of choice, be sure to factor in materials, equipment maintenance, and marketing in your income calculations. 

Tips for getting started: If a particular product consistently sells well, consider increasing production or exploring new variations. Keep a spreadsheet to track your growth and adjust pricing accordingly. If growth happens fast, it may also be wise to invest in software like Quickbooks. 

3. Teaching Online

If you have experience in a specific subject or enjoy sharing your knowledge, there are various opportunities to offer tutoring or teaching services. You can earn a steady income by providing tutoring services regularly or by teaching online courses.

Earning potential: Glassdoor reports that an online teacher (across all industries and experience levels) makes about $60,347 per year.

Startup costs: Consider costs for any certifications or credentials you may need to obtain, as well as teaching materials and a reliable home computer. 

Tips for getting started: Be aware of potential tax deductions related to your teaching activities. You may be able to deduct expenses such as teaching materials, professional development courses, and home office expenses. Consult with an advisor to ensure you take advantage of all available deductions.

4. Cooking & Baking

Whether you’re a seasoned chef or just enjoy experimenting in the kitchen, turning your culinary skills into a business can be rewarding through platforms like a personal website or Instagram or as a pop-up and at farmers’ markets.

Earning potential: Cooking and baking have a wide range of income potential, depending on your location, goods, and time commitment. While some estimate a custom cake decorator can bring home about $1,000 per month, one woman turned her baking hobby into a $900,000 side hustle. 

Startup costs: Factor in costs for kitchen equipment, ingredients, packaging and supplies, labels, or even the rental costs for a commercial kitchen. 

Tips for getting started: Consider catering for parties, weddings, or corporate gatherings. This can be an efficient way to experiment with pricing and showcase your culinary skills to a larger audience. Of course, be sure to adhere to proper food safety practices to maintain the quality and safety of your products and obtain all necessary licenses or permits. 

5. Content Creation & Blogging

Blogging and content creation, including product reviews, can be a rewarding and financially viable hobby for retirees. With the right approach, you can build a loyal following and generate income through various channels. Common monetization strategies include advertising, affiliate marketing, sponsored content, and selling digital products.

Earning potential: According to ZipRecruiter, a blogger brings home an average of $62,275 per year. 

Startup costs: Remember that you’ll likely need to purchase a domain name and hosting for your blog or website, and you may need to hire a professional designer or website builder to create a visually appealing and user-friendly platform.

Tips for getting started: Building a successful blog or content channel requires consistency. Establish a regular posting schedule to keep your audience engaged, connect with other bloggers and influencers in your niche to expand your reach, and invest in search engine optimization (SEO) to improve your online visibility.

6. Pet Care Services

Pet care services, such as pet sitting, grooming, and walking, can be a rewarding and financially viable hobby for animal lovers. With a modest startup investment, you can turn your passion for pets into a profitable business.

Earning potential: Pet sitting earns an average of $33,377 per year.

Startup costs: Common startup costs include liability insurance, grooming supplies, and transportation. You may also wish to consider getting pet first aid or CPR certified to enhance your credibility and attract more clients.

Tips for getting started: Consider charging hourly rates for pet sitting or walking, or by offering package deals for multiple services and repeat customers.

You may be able to enjoy a more fulfilling and financially secure retirement by turning your hobbies into profitable ventures. Not only will you have the opportunity to do what you love, but you’ll also potentially generate additional income to supplement your savings.

Turning Your Hobbies Into Financial Freedom With PrairieView

Partnering with a financial advisor like the team at Prairie View can be invaluable in the retirement planning process. Our experts can help you assess your financial goals, develop a personalized plan, and provide guidance on managing your income and expenses. 

Schedule a complimentary consultation with us today!

 

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