In this report, I discuss the best 5 online businesses to retire early.
Do Your Retirement Plans Include Geographical Freedom?
My name is Dan. I quit my job 14 years ago. I just travel the world now. The beautiful woman in the photos with me is Qiang. I met Qiang in Malaysia 5 years ago. I will show videos of Qiang and I traveling the world together as I explain how my information business, or hobby business, pays for our world travels during my early retirement.
Why am I showing you travel videos as I talk about the best 5 online businesses to retire early?
It is my way of showing you that an online hobby business like mine can provide geographical freedom. I was able to retire early and travel the world freely.
Why These Businesses Are Best for Online Early Retirement
You will not need an office, you will not need employees, you will not need physical inventory, you will not need investors. There is no shipping or receiving. No products to buy or sell. No import or export laws, and no tariffs. People just download your information.
In this video, I show you 5 examples of businesses you can start. I will then suggest using your favorite hobby as your information business. Your excitement will help carry through the early stages so you are more likely to continue until profitability.
In previous reports, I explained how the information business is one of the fastest-growing businesses, links provided. Other reports I have shown in the past, stake you under the hood so you can see how the business works, link provided.
Well, the growth of this industry I discussed in those reports has accelerated over the last year because of the pandemic. I am not talking about Internet millionaires and billionaires making more money. I am talking about regular people, like you and me.
Why are some people making more money online since the pandemic started? Because online business is safer during a pandemic. People prefer trusted online businesses. Many people are not comfortable dealing face to face right now.
I am talking about regular people like you and me that just need to make a few hundred or a few thousand extra dollars per month. People that know something about life starting businesses on the Internet. Many people are retiring early and are looking for ways to supplement their income.
People have enjoyed the freedom of working from home and they don’t want to go back to work.
People never really wanted to have a boss. Many people always wanted to have their own little business. People want to be in charge of their own life.
Personal Freedom is Appreciated More Now Than Ever
More people have begun to realize that personal freedom and quality of life just feels better than having more things around them. Being smarter, consuming less, and retiring early allows more energy in your golden years and might provide more net joy.
Many people also like to keep their minds occupied in retirement. One way to do this is to start a side business that slowly builds. Then they will be able to keep their mind fresh, during retirement, and maybe even retire early if their hobby income exceeds their cost of living.
Some people are like me. They like to travel around the world and live in countries with a lower cost of living. They might retire even earlier if they don’t need as much cash flow from their retirement business because of lower living costs. Freedom comes earlier for some people.
In this report, I will share 5 examples of online retirement businesses. But after hearing about the 5, you will probably think of something right for you. One that fits your personality and life. This is not a one size fits all idea. What you love matters most.
All five of my examples are in the information business. Knowledge is the currency of the new economy and you likely have some knowledge in you right now that you may not recognize. Other people might be delighted to learn what you love. Your experience could help them.
How could I know this about you? Because YouTube data tells me that the average viewer of my channel is older, between 35 and 65 years old. If YouTube is right, life has presented you with hundreds of problems that you have overcome. Your most valuable asset is experience.
So you know something that people are searching for online now. Formal education still has a place. But theory is generally not as immediately useful or valuable online as practical knowledge. People get impatient and Google exact problems now.
If you are able to share ideas that solve problems quickly, cheaply, and permanently, and you title the problem correctly online, people may start using your information and sharing it with others. That is the new economy. That is why the information business is growing so rapidly.
You Probably Doubt That Your Experience is Valuable
At your age, you have valuable practical knowledge about many things. Yet you may be thinking that much of your knowledge is worthless because it is so obvious to you. That is what I thought. But it is only obvious to you because it is in your past. You have already overcome those problems. But others haven’t. They need to solve it rights now.
Billions of people type questions into Google every day. How do I install a garbage disposal, what are the best dividend stocks, how do I lose weight, how do I get out of debt, can I get fit in 30 minutes per day, how do I find love in my 60s, cheap healthy recipes, what are the best countries for single retirees, how much space do I need to grow my own food, how do I hang wallpaper, how to be a writer or artist, how to be a stand up comic, how to travel the world with almost no money, what wine goes with chicken, best movies of all time, how do I protect my credit report from identity theft, how do I motivate kids to get good grades, what used cars need fewer repairs, what should I say when bill collectors call?
My information business answers questions every day. I will show you how I make money every single day, answering questions, whether I am working or not. Whether I am at the beach or out to dinner, whether I am sleeping or jogging down the street. No matter where I am in the world I make money answering questions.
You see, an information business is an automated business on the Internet. You set it up, and then you just maintain it as it grows over time. The goal eventually is for you to spend less and less time as the income grows more and more.
But that is not how it starts. The information business starts with you pushing a boulder up a mountain for a year or two. But if you are able to get the boulder to the top of the mountain, it starts rolling down the other side. Once the boulder starts rolling down the other side, you just run behind it, pushing the boulder to roll faster.
So all five businesses I will share with you today are knowledge-based businesses.
Best 5 Online Businesses to Retire Early
I will show you five examples of hobbies you can use to make money online. After seeing all 5 examples, you may be able to see why your life experiences might be valuable to others.
Example 1: How to go from a starter home to a mansion without paying mansion mortgage payments
When I was a small boy, my mother bought a little starter home that was not in very good condition. She slowly went through the home and upgraded it while we lived there. She painted and wallpapered the house.
She bought newer appliances, she changed the window coverings to let more light into the home. She cut back bushes and planted flowers. Overall, I would say she modernized the old house and it increased the value substantially without any real structural changes.
The equity in the home grew substantially and she was able to sell the home and move the equity into a larger home. Because my mother increased the equity substantially, she was able to move the equity into a larger home with very little increase in monthly payments in the new house.
With a little imagination, you can see how you could do this with a series of houses, each slightly bigger than the previous, without ever-increasing your monthly payments. This could easily be made into an information business that teaches people how to do it.
People could move up to the house of their dreams with pure sweat equity without increasing their monthly payments. Interestingly, this was also my mother’s favorite hobby. She loved tinkering around the house figuring how to make it more valuable with very little money.
What lessons have you learned in life that would help people get to where they want to be walking on an easier path? Think of yourself like a wise old friend that has already walked some path. You have walked the path and now you will teach others.
You could literally make hundreds of videos about all the best cheap ways to increase the value of homes with as little money as possible. This could form the basis for a body of work that would pull in new visitors and subscribers for decades.
You wouldn’t even have to do the work. You could just find ideas online and share links to your research and explain how each of the best ideas increases the equity of a home. You don’t have to walk the path again and show people what you know, you just teach your life experience now.
In the final business example, I will show you how to structure the business online so you can make money with your knowledge, experience, and even your research. Right now, I am just discussing examples of knowledge people can share. I am trying to get you to think about what you have learned and can share with others from your life.
Example 2: How to retire early investing in dividend-paying equities.
Many people love the idea of dividend-paying shares in large stable companies. Unlike more typical shares in companies, dividend stocks issue dividends which create a monthly cash flow that you can live on in retirement.
Stocks and bonds are two of the most popular ways people invest in companies listed on the major stock exchanges. Bonds pay interest payments periodically and then pay off the principal later if the company remains solvent. Stocks typically often increase in value but do not generally pay any dividends.
A dividend-paying stock is different because it throws cash flow at you periodically like a bond but the share price may also increase in value, unlike a bond. That is why dividend-paying stocks are popular among retirees. They can get a little cash flow in dividends yet the stock may also go up in value to offset any inflation.
So retirees can potentially get income and inflation protection in the same investment vehicle. If you have built your retirement investments on dividend-paying shares, then you could help people understand what you did and how you picked new dividend-paying stocks.
You can’t be an investment advisor unless you are licensed, but you can talk about how you make your own decisions and how you identify which dividend-paying stocks you have decided to buy. You can even offer courses or a membership that people join to know when or how you buy or sell.
Later, I will take you behind the scenes and show you a membership and course I set up.
Example 3: Recipes and Cooking Courses
Food is one of the most important cultural experiences in the world. If you can delight people’s taste buds, you will make a friend for life. So offering specialty recipe eBooks and classes online is one of the best ways to connect with and keep an audience.
But the key to success with recipes and teaching cooking online is finding a nice category of recipes that you love most, that is fun and interesting for you, and connects with a very small segment of the population.
So what are examples of very limited niche recipes you could put in your cookbooks? Here are a few examples: (1) On the table in 20 minutes, for people that work but like to cook at home, (2) 5 ingredients and on the table in 20 minutes, (3) Vegetarian recipes from around the world, where you teach how to make vegetarian versions of each country’s most famous recipes, (4) Same thing but vegan, (5) Grilling for life, where you talk about grilled only meals even vegetables and desserts, (6) Microwave Only, where you talk about grilled only meals even vegetables and desserts, (7) How to Start an online Cookies and Cakes baking and delivery business, (8) How to Start an online Vegan Meals cooking and delivery business.
Before I share my next two examples, I am just going to rattle off a bunch of other ideas for online hobby income niches that you may want to consider: (1) Fly fish tying course, (2) Grow your own fruits and vegetables in your backyard, (3) Ways people buy real estate no money down, (4) How to buy at garage sales and sell on ebay, (5) How to avoid scams and make money at home, (6) Learn to be an artist, (7) Learn to be an author, (8) Learn to play an instrument, (9) How to collect stamps for fun and profit, (10) How to raise kids, (11) How to find love, (12) How to write a dating profile, (13) How to make YouTube videos, (14) How to make money traveling the world, (15) How to grow roses, (16) How to write your autobiography, (17) Muscle cars, (18) How to grow and can your own foods, (19) How to do anything, where that anything is something you love to do and never seem to get bored learning more about and talking about.
Some of these are better than others, and I talk more about how you will talk more later about how to pick the best one. Okay, now for the fourth example.
Example 4: Wine Pairing Business
In the below video, “Retire in 36 months starting with no money,” starting at 5:51 minutes until 15:21 minutes, I share another great hobby income model that someone might find to be successful. Example 5 is about a man that spent his career in the wine selling business that knows all about wines. After watching the video about a wine information business, come back here and learn about the 5th and final example.
Example 5: The Travel Hobby Business
The reason I picked the travel hobby business for myself was that travel is my favorite hobby ever. I also had the unusual motivation of trying to live on a fixed low budget while I started my hobby business. Because I had lost my online job and was living on savings.
My goal when I lost my online job was to live on less than $2000 per month. This would allow us to keep traveling while living on savings for 2 years. So I had to try to create an income with my hobby business within 2 years. If I was unable to meet our cost of living numbers during the 2 years, with my hobby business, I intended to get another job.
Luckily, my hobby business started making money before I had to look for a job. But I do not recommend this sort of risk for others. If the hobby business was unsuccessful or slower growing, there is no guarantee I could have gotten another job at age 60.
In the next video, below, I show you under the hood of my hobby business from about a year ago in 2020. The video shows you how it works and where the money comes from. At the time of this video, I was making about $4000 per month. After watching, I recommend watching the video under it which shows how the income had grown to $6500 per month, a year later in 2021.
The Hobby Income Course is presently a bonus (free, gratis, no charge) for any current paid member of VagabondBuddha.com. The paid VagabondBuddha membership to my 80 retire cheap in paradise reports is $9 USD per month (for 8 downloads per month) or $99 one-time payment for life which includes unlimited downloads per month. You can register here.
My 2020 Report (How I made $4,000 online last month):
I made the next video about a year later to report my hobby income increasing by 63%. I think the bolder is starting to roll down the other side of the mountain.
My 2021 Report: June 2, 2021 (What is the best online business for retirees)
Thank you for reading the Best 5 online businesses to retire early.
Make sure to grab a free copy of my eBook: How I Fired My Boss and Traveled the World for 14 Years!
This is Dan of Vagabond Awake, the Youtube channel for VagabondBuddha.com. Thank you for stopping by. The world is your home. What time will you be home for dinner?