A Business for Baby Boomers? Home Office Business Is Key

This article features an industry rather than just a business for baby boomers. You will begin to hold on to more of your money the minute you establish your home office business.

As mentioned, I’ll be talking in general terms about an industry that, quite frankly, you would be crazy to not get involved with at this stage of your life. Its not just a business for baby boomers either, it’s for anyone who is not happy with the plan that has been thrown at you. You know the plan I’m talking about; work for 40 years to retire on 50 % of what you can’t live on now (smile).

84% of New Businesses Today are Started By Baby Boomers

That stat is the result of a survey by a company called Guidant Financial, based in Bellevue, Washington. Their survey found that 84% of new business startups are by people between the ages of 40-60.

Now, granted those people don’t all fall in the baby boomer generation, but it’s pretty obvious that people are seeing the light and becoming much smarter in planning their futures.

Home Office Businesses vs Helping to Make Someone else Rich

There definitely was a time, which you already know when you could work for a company for 40 years or so and retire with a gold watch and a somewhat livable retirement. Those days are long gone for several reasons. People live much longer and companies can’t afford to support them for that long.

Companies and governments made retirement promises to people, to entice them to stay, that they found were just too expensive to live up to.

Realize also, if you’ve never thought about it, that a private company is owned by a person or persons and by working for them you are helping to make their dreams come true, to make them rich.

When you open your home office business, whether it’s a baby boomer business or not, you are entitled to tax benefits that wage earners are not. You don’t have to spend hundreds of thousands or even a million dollars to start your business. Those kinds of rates are related to buying a franchise. You can do that if you want to and you have the money but there are alternatives that cost much less.

How Much Money for A Home Office Business?

The kinds of business for baby boomers and anyone who is looking is the affiliate and network marketing business. As a baby boomer myself I chose to get involved in both.

Getting involved in a primary network marketing business and having affiliate programs selling other people’s products as a backup is proving to be a very lucrative road to take for more and more people every day.

You can set yourself up in a home office business for less than $1000, in some cases a lot less. One thing to look out for though is be sure that whatever level you join at, you are eligible for ALL of the commissions and bonuses etc in the compensation plan.

Choosing a Baby Boomer Business

I have done a lot of research on network marketing companies and affiliate programs and I strongly advise you to do your due diligence as well. There are resources on my website where you can read MLM company, affiliate and “how to” reviews. The ones you run into may not be brand new businesses but they, to you, are new business ideas for 2011 and 2012.

Like I said earlier, as soon as you establish a home office business you will start holding on to more of your money. That is just the beginning of your new career in which you will be working towards the dreams of yourself and your family rather than making the dreams of someone else come true.

I want to warn you that none of the success you desire will come easily or if you don’t have a very strong “why” you are doing it. If your “why” is weak, your efforts and resolve to succeed will be weak too. What is your “why”? Think about it for a minute.

If you need an example my “why” was 3 fold. I never did like working for someone else and wanted to be my own boss. (I’m the best boss I ever had (smile), I wanted to bring my wife home from her job; she is a very severe diabetic and should be in a position where she can be the safest she can be. The biggie of the biggies is “we want to do whatever we want to do whenever we want to do it”.

So the bottom line is if your reason is big and strong enough and you do your due diligence and have the will to succeed there’s no way you can fail.

The most important and exciting part of this baby boomer business plan is that with affiliate programs and network marketing especially the income you create is residual and will keep coming in even if you decide to stop working. In other words, work hard for 1-3 years or whatever it takes and then you can do whatever you want whenever you want to do it.