Business Opportunities in Retirement

A main concern of retirees is "will I have enough money?". Just as important should be "what will I do with all my free time?".  Only a small fraction of people looking to retire, especially those looking to retire early, will be able to live off their savings, pensions, social security, etc. And most people adventurous enough to seriously consider offshore retirement are also likely to be active, intelligent, and real go-getters....the kind of people who need something to do besides sit on the beach. 

While the opportunities for "getting a job" in a foreign country can be quite limited, the opportunities for starting and running your own business are endless. In many of the countries I target as potential retirement havens, any decent amount of money you have to start a business will likely place you near the top of the food chain. Remember, you're moving to a relatively poor country compared to the US or Canada, where people can be making less than $500 a week in wages.....often MUCH less. If you can start up a business with a small amount of capital, and employ local workers as a bonus, you're providing a much needed service to the community and are well on your way to establishing yourself as a person worth knowing in your new home country. Best of all, almost any type of business is a sure way to achieve resident status in your new home, with all the perks that come with it (I will tackle this subject in detail as I explore specific countries in future posts).

So, what are the kinds of things you can do to provide yourself with a steady income, keep yourself occupied and challenged, and still have lots of time to travel, play, relax, and enjoy? Here are a few ideas.

Daytrade, Swing Trade, Invest - This is one of my favorites, although admittedly it doesn't use local workers. All you need is a decent computer system (especially important for daytraders..less so for the other two), a reliable internet connection, and a good, consistent, winning system. Most developing countries, especially the ones I will be covering, already have a significant investment in internet infrastructure, or are just on the verge of getting it. If you can making a living trading in the US, you can make a great living trading and living in a cheaper country. 

Import/Export Business - Many retirees make excellent contacts in their new countries, and find interesting local items that would be popular back home. Local artifacts are especially sought after. If you're an antique hunter or love shopping around for local artifacts and relics this might be a really fun career. Plus you are injecting money into the local economy, and are bound to meet lots of interesting locals in this line of work.

Real Estate Investor - Granted, this might require significant capital, but the opportunities are endless in the developing world. Prices for developments are dirt cheap in many places, and developers are very open to investors with deep pockets. The kind of money that might buy you a luxury home in a big US city might get you an entire development project in a developing country.

These are just a few ideas. I'm sure you can think of many, many more. The point is that any idea you might have for a business, but can't raise the kind of capital needed to make it a success in the US, becomes much more realistic when you start it up in a developing country. And the local ecomony will welcome you with open arms!