The Retirement Newsletter: Side-hustles and start-ups — is retirement your biggest start-up?

Issue Number: -71 — five reasons for and five against starting a business in your retirement

Photo by micheile dot com on Unsplash

Welcome

Welcome to issue in -71 — Side-hustles and start-ups — is retirement your biggest start-up?

For the last week or so, I have been thinking about starting side-hustles when I retire to boost my pension income. And I have released that retirement is a bit like starting up your own company, and that got me thinking — is retirement your biggest start-up?

Retiring

The first aspect of retiring that is like a start-up is that your life significantly changes. You go from working to not working. So, it is important that you get and manage that aspect of your retirement correctly. A bad start and a bad foundation could lead to a bad retirement.

But what about if you decide to start a business?

Retiring and starting a business

So, for the last 30 or 40 years, you have most probably had a job where you were employed by someone to do something. You were an employee unless you owned the company, in which case you were an employer.