What Is A Good Online Business For Over 50

My Personal Story ( And I’m Well Over 50)

A bit of bad luck a bit of mismanagement led me to look at online businesses. I was just hitting sixty and I had taken somenot me but close blows – financially and personally. I was not in the position I wanted to be in as I was getting closer to retirement. So, once I had finished sobbing in a curled up ball in the corner I thought I better do something about it.

I started looking at online and what avalanche of choices. I found the platform I am on now early in the piece, thought it looked good but then I started chasing shiny objects (make money faster, make more money, this is best and on and on). After wasting money on some programs and In some cases not small amounts I eventually regained my sanity and returned back to where I started.

My financial goal at retirement was to create an income of approx $120 – $150,000 a year, some may say that’s a lot and others may say that’s not enough but it was my goal. Currently, I’m edging close to the $100k mark, so definitely making progress and I’m now 62. So approx 2 years later. Where are all the sports cars and private jets (REALLY)!!!!!!

I currently hold down a full time job, I have just completed building a house (me on the end of a hammer, no contractors) and also building up my online business.

If you don’t want to read anymore and head over to the business I am in then this is the link. I hope I’m not being big headed but I think there may be some more information further down this article that may help.

What Did I Look For In An Online Business

What I wanted from an online business and in no particular order;

No huge ongoing costs

I don’t mind paying but it should not drain my bank (I have done this a few times and the outcomes were minimal). I look at it this way, if I’m trying to get from Point A to Point B it will cost me money, think driving there in a car, gas and time etc. I won’t pay for a corporate jet. The same for an online business and one of the joys of working like I do is that it’s a small monthly amount and the rest of the overhead is less than a $100 a year.

Even better if you can start off for free and see if it will work for you before the hand goes into the pocket.

free sign

I have time but that had to reduce once it becomes relatively successful.

At some stage I will be slowing down even more and it would be nice to enjoy the fruits of my labors. I could if I wanted to now reduce my hours to around 5-10 per week but I haven’t achieved what I set out to do, so I continue and to be honest it is no great hardship at all. So the reduction of hours and minimal other time spent on my business will have to wait a bit longer.

It had to be evergreen – it continues without me and year after year.

Some of the businesses out there online require constant attention and probably longer hours and a lot more money. Think of promoting products on Facebook or any other social media platform. You have to have an advertising budget and it won’t be small and if you take time off it all comes to a screaming halt.

Dropshipping is another area, you are managing a store, you may not have stock as such but you do have to organize constantly and once again time off will see the wheels get a bit wobbly.

I am not against any particular business model for online income, lots of people have made lots of money from most of them ( a lot haven’t as well though).

I wanted a business that I put the time in at the front end and people could find me forever and when I wind down they still can find me and I will still earn money.

It had to be ethical.

I do not have a problem promoting products. In my world the product has to live up to the customers’ expectation and itmarket would be something I have used or I have in depth knowledge of.

One of my online businesses earns advertising income only. Adverts appear on my site and every time someone clicks on it I earn some money, this does require a lot of people visiting my site. I may add some affiliate links at some stage but they have to meet the above criteria.

It had to be aimed at beginners to middle level (as I don’t have vast expertise in any one particular area)

I enjoy the topics that are on my sites. People say you have to have a passion for them but I’m not sure this is true. If we take it away from online for a moment, I am passionate about cooking but if I owned a restaurant and was cooking the same meals day in and day out, how long would that stay a passion? So, back to online and what I do. I enjoy the topics but just as much I enjoy the process of creating a website that gets visitors and earning money from them.

I think I have a lot of good general knowledge and interests in a lot of areas but expertise to a high degree in a particular area is probably limited to one subject. People look for all sorts of information online, from the bizarre (or what I think is bizarre) to the highest of high brow subjects.

A large portion of questions asked online are at the beginner or “I have a bit of knowledge” stage which is great for the likes of me but you can get answers for virtually any question at any level online.


What Did I Find

If you pushed the link above you will already know what I found is Wealthy Affiliates. There are a few reasons why I really like this business;

Comprehensive Training – It gives you all the training you need to take your business to what ever level you want to.

Step By Step – I knew how to turn a computer on and basic things in regards business usage but I knew nothing about the online world and how to go about it. Even I could follow the steps!!!!!

Website Tools – I have to say I doubted whether I could build a website but in all honesty it wasn’t that hard and a couple of small questions I had were answered within a few minutes by the community.community

The Community – If you have had a look at other online businesses/courses they all talk about their community so this may be a bit over used but I would say that the Wealthy Affiliate community would beat most others by a factor of at least 10. People are around 24/7.

Training Webinars – If you become a paying member then every week there are webinars available discussing a huge range of topics that may help with your business,

Success Stories – Not BS but real people achieving real results, people rapt at earning the extra few hundred a month they wanted and up to the crazy level stuff.

Well Rated – Checking them out on Trustpilot you will see they have a ranking of 4.9 out of 5 . And there is a bit of a blurb about Trustpilot below with a link.

Longevity – These guys have been around since the early 2000’s and if you combine this with their rating and the number of members as well as how long they stay members, well its a pretty impressive record.

Free Trial – Now this is pretty basic which is the level I came in at but it was very useful for me and a few of the dots started connecting, after that there is a charge (and you can do it monthly) but if you want to set up a website, have it hosted, get the training you need and get going then it will not come even close to breaking the bank – think a lot less than a good coffee from your favorite cafe daily.

Checking Out On Line Businesses

If you find a business that looks good can I recommend that you look it up on a site called Trustpilot, this is a trustworthy site that ranks on line businesses. Reviews is another way of checking on businesses but I have found they are not great and if you read a few you will see they are set up in a similar pattern – little knocks which creates doubt and then “you should have a look at this product, ” which of course is what they want you to do in the first place. I have no problem with people recommending products but maybe a little bit more integrity and openness would be better.

A Couple Of Recommendations

So, obviously I am going to recommend Wealthy Affiliate and yes I do earn a small commission if you join but you will pay the same if you go direct. But for the reasons above I think you will understand why I would recommend them. If you are not sure you can still head over and have a look around in the free area (no credit card required) and maybe go through the free training as well. Just click on any text that is blue and underlined and it will take you there.growth

If for some reason Wealthy Affiliate (WA) doesn’t resonate with you then another similar program is Authority Hackers I am not affiliate of this business so I don’t earn anything, its just another option. Their training is similar, their community is pretty strong and they have had some good success stories. I am not sure of the costs though.

Whichever way you go or if you don’t head in any direction that’s OK, that’s your choice.

If you need extra money to achieve a result I wish you all the best and I hope you find a way to get where you want/need to be. Just be careful with some online businesses they will promise the earth, show amazing results (not necessarily true), tell you it is only a few hours a week (definitely not true at the start) and you will end up spending a lot more money than you thought to get the information and ability to start the business (up sells!!!) and in some cases getting your original money back is next to impossible. Yes, this is from my experience.

I’m sure I have missed some details out and probably the exact ones you wanted to know!! You can leave a comment below and I will get back to you asap.

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