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Best Biscuit Chicken Pot Pie

 Turning a Hobby into a Side Business

Many retirees have turned side pursuits into income. Find out how to make money in retirement, such as getting started, obtaining financing and what it means for taxation.

The Amount Themselves is growing. In 2015, the U.S. Bureau of Labor Statistics found the self-employment speed among workers aged 65 decades and older was higher (15.5 percent) than any other age category. Retired seniors are still working, and many are working for themselves.

Seniors have the same drive and Entrepreneurial skills as any other age category. Many who wish to understand how to generate income in retirement turn to their hobbies as leaping off spots for launching a small enterprise. If you meet the ideal hobby with the perfect business plan, you can make it work.

What's a side business for seniors?

Older retirees often confront obstacles they may Not have struck as younger entrepreneurs, while it's a tighter monthly budget or age-related bodily constraints. But they have an edge when it comes to their hobby - they've already invested in equipment and training.

Making your hobby the seed for your business has Other advantages also:

Low upfront investment

If you have little investment funds, savings or A bad credit score, securing funds to begin with a small company can be challenging. Choose a side gig with low upfront costs and utilize the tools, materials and information you already have.

Small-scale production

Consider starting a business that doesn't require A good deal of materials, storage and equipment. If your business makes physical goods, you do not need to exceed your capacity to put away your unsold inventory. Start small and expand from there.

Work from home

You may want to start a business where you It's certainly a concern for any neighbors with freedom difficulties, but home-based businesses also help decrease your overhead costs: no office space rentals, additional utilities, parking expenses, etc..

Online businesses

Online retail websites and Social Networking advertisements are Inexpensive methods for seniors to start e-commerce stores and market their goods and services.

Which hobby should I select?

Ensure you understand what your most precious hobby is. There's a good chance you've got multiple. It can even be something you would not even think of as a hobby - a much broader category of activity than creating pottery or writing poetry.

For example, maybe you enjoy examining your Family history, looking at photos and learning about missing family members. You can turn that love of lore into a home-based genealogy business helping others uncover their own family trees.

Perhaps You love problem solving and so are obsessed with With doing crossword puzzles or inventing new merchandise ideas. It might not be a"hobby" in the strictest sense, but problem solving is a skill many individuals enjoy doing so much that they leverage their talents to start profitable companies.

Linda Nagamine was a airline customer service Representative for 28 decades, and following retirement she turned her problem-solving skills into a way to assist women never lose their keys . Nagamine used her own difficulty of constantly misplacing her keys as inspiration for inventing and developing the Joyful Keyper - a simple device for maintaining your keys easily accessible within your bag or handbag.

"There has been nothing in the market that Effectively solved my daily problem of hunting for my misplaced keys," she explained. "It needed to be something anyone could use and be dependable. I didn't want another electronic/tech device to complicate my life."and in women's boutiques.

Take careful inventory of all your hobbies and Don't overlook some just because they do not fit the standard definition. Think outside the hobby box. Ultimately, a hobby is anything you enjoy doing. Find that and match it with something which's marketable, and you have a fantastic start at a little business.

Will my hobby create a successful business?

Just because you decide on a hobby, does not mean It's a marketable business thought. You may need to fix it a little to produce a product or service that people want. If you've got multiple hobbies, interests and expertise, think about combining a couple of them into a viable small business.

Combine them to start a company that creates customized chess boards and sell them online. Or perhaps you love fly fishing and community service. You can turn your two loves into a rehab therapy service for wounded veterans, like Ed Nicholson did after starting his veteran's organization Project Healing Waters Fly Fishing.

Mark Holtzman switched his love of aviation and Photography to a prosperous aerial photography business. Holtzman began his photography hobby if he was still working as a sales director for an auto dealership, flying and shooting with his film camera.

Eventually, Holtzman's side hustle became his Full-time company and contributed to a award-winning photographs displayed in a variety of publications, including Vanity Fair and The Wall Street Journal.

Holtzman also did something each aspiring, retired Entrepreneur should think about: He recruited assistance from his kids. Holtzman's son Steven came when the side industry became a fulltime gig, helping his father with assorted computer and technical issues.

"When we talk about if he will ever retire, '' he Gives me this look that says,'I am already pretty much retired,'" Steven Holtzman said. "He enjoys what he can, because he has to fly around and shoot photos, and doesn't see himself ever really retiring."

Do I would like a fulltime or part-time gig?

You want to transform your hobby into a business, But that does not mean you want to give up the freedom and comfort that retirement provides. Hobbies are what we do for free, and we do them when we want to. Having a hobby-turned-business, you now have to contend with deadlines, clients, shipping, emails, payments and so on. Nobody wants their hobby turned into"what I used to love doing."

A business Is a Lot more than a hobby and requires Considerable mental, psychological and physical effort. To prevent destroying your hobby by turning it in an all-consuming business, think about the things that compose your current retirement life. Questions like these can help you gauge whether you want to go fulltime or part-time:

  • How much time do I want/have to make investments?
  • Just how much extra earnings do I need?
  • How will my time be impacted by work together with family and also? Buddies?
  • Do I have enough startup capital to go full-time?
  • Do I have other obligations (i.e. volunteer work) That will endure?
  • How much stress can I afford to add to my life?

The Way to finance your Small Business

Whether you're thinking about using your savings Or taking on debt, you're likely going to want a bit of upfront capital to spend - even if it's simply to print fliers for another quilt show. If you are in need of funding choices for your new retiree business enterprise, here are a few to look at.


If you are advanced in your hobby, then you have plenty Of equipment and knowledge. So startup costs might be low enough that you finance your new business through bootstrapping - using your own funds and any operating earnings to begin and grow your business. Bootstrapping assists start things off quickly and retains you debt-free. However, self-funding also means you may lack the required upfront earnings for advertising or hiring, two essential elements to business growth.

Mark Holtzman's photo of a flyover at the 2018

Bootstrapping is Great for retirees because it Helps minimize risk. Older entrepreneurs don't have decades to correct their finances from a company that's gone bust. Start small and test the market to find out if your organization is viable prior to taking on debt or dipping into your nest egg.

Personal Loans

When getting your new business off the floor means A small purchase - substances, equipment, ads -- then a personal business loan might be perfect for you. Borrowers with good or excellent credit scores (690+) like the broadest repayment options and lower interest rates.

Government Funding

The federal government helps seniors start or Expand their new businesses with loans guaranteed by the U.S. Small Business Administration. Since SBA guarantees loans (similar to the FDIC) for creditors, they make it much easier for seniors to get capital from private lending institutions. The SBA's online referral tool makes it effortless to connect small company with participating lenders.

Venture Capital

If you'd rather avoid lending associations and The agency works to connect senior entrepreneurs using Small Business Investment Companies (SBIC) - a privately-owned company licensed and regulated by the SBA. SBICs offer loans or buy equity in businesses.


Sometimes the best way to Begin a company is To turn to the public for financial support. By creating an online fundraising campaign to begin your company, you're in a position to solicit money from internet donors. Instead of paying them back, you reward them with presents, such as the first version of your product, or a signed copy.

Retirement Accounts

Your retirement account is a viable funding option that provides more investment management in contrast to lending institutions. If you've got a 401(k), the government lets you borrow against, withdraw or borrow from your retirement accounts, but there are loads of hoops to jump through. Consult a retirement account professional prior to withdrawing funds from the retirement account.

Rollovers as Business Startups (ROBS) let you It's a intricate procedure that allows you avoid taking on debt and penalties, but it also sets your retirement savings at risk.

How will my negative business affect my taxes?

Your business Will Surely impact your taxes. Hopefully, you'll be seeing a gain, and you'll need to report it on your yearly income taxes. That's a good problem to have.

A hobby like fly fishing could be a way to help others.

However, your tax preparation will become more Below are a few ways starting a company will impact your taxes.

Social Security Benefits

After you begin earning a profit from the new Company, you may have to begin claiming a percentage of your Social Security benefits as taxable income, particularly when Social Security benefits are the only source of earnings prior. The normal percentage is 85 percent, but the percentage will be contingent on the quantity of your joint income. You can use the Notice 703 IRS form to figure how much of your Social Security benefits may be taxable.

Business Expense Deductions

Like any other business owner that is for-profit, you can The IRS requires a company expense is"ordinary and necessary" into the operation of your company.

Two of the most common business expenses for Small business owners will be the business use of your home and business use of your vehicle. You're able to subtract a percentage of your costs for all these, while it's deducting the cost of a house office or standard mileage rates for travel. You can even deduct a part of your small business startup costs.

Complicate your annual tax filing, but countless seniors manage it. You'll need to keep receipts for your expenses and monitor your vehicle mileage, but the tax savings are worth the time.

Your Tax Rate

Your business profits Increase your Taxable income and thus your tax rate. Because your extra income will influence what percentage of your Social Security is refundable, it's smart to calculate your retirement tax rate to discover how much your enterprise profit will affect your taxable income. Nice tune your tax rate quote by determining your standard deduction for retirees.

Self-Employment Taxes

When you were working for a company, they had been As a small business owner, it's now your responsibility to monitor and report your incoming funds. Generally individual small business owners must pay self-employment tax (Social Security and Medicare taxes) as well as income tax. You need to file an income tax return if your net earnings from self-employment have been $400 or more.

Quarterly Reporting

Company owners who expect to owe $1,000 in taxes for the current tax year - after subtracting their withholding and refundable credits - have to make quarterly self-employment obligations to the IRS. Rather than a Form 1040, you'll use a Form 1040-ES to gauge and document your quarterly self-employment taxes. You are able to pay your taxes online in the IRS website.

Due to Their limited economies Companies can find it hard to pay their quarterly taxes. Make sure that you accurately gauge and withhold them during the year so that you're not surprised with a big tax bill.

Here are You learn the best way to make money.

Entrepreneur Coaching

Small Business Administration - Free online Courses to assist you start and operate your business.

Chamber of Commerce Foundation Blog - Variety of Articles on entrepreneurship.

Khan Academy - Online chats with famous Entrepreneurs about their strategies.

Small Business Development Center of Pennsylvania


Advice on how to begin your small Business is helpful for avoiding common small business mistakes early on. Below are a few tools to get your men and women.

SCORE - a nonprofit entrepreneur network Connecting seniors with business mentors.

Offers no price, extensive, one-on-one professional business information. Find an SBDC near you.

Meetup Groups - Meetups are a great way to find Other small business owners, freelancers, or individuals that share the same hobbies.

Global Institute for Experience Entrepreneurship - Non-profit which helps seniors 50 and more than companies that are construction.

Chісkеn Pоt Pіе produced еаѕу! This Biscuit іѕ loved bу uѕ Pоultrу Pоt Pіе with рrе-mаdе bіѕсuіtѕ, it’s a delicious fast mеthоd to get dіnnеr up fоr grаbѕ.

Bіѕсuіt Chісkеn Pot Pіе #Chісkеn #Pie #Biscuit #Dinner
іmаgе сrеdіt 

  • 1 саn Pіlѕburу Grаndѕ Bіѕсuіtѕ 8 biscuits 
  • 2 tablespoons butter 
  • 1 ѕmаll расkаgе frozen vеggіе mіx: carrots, реаѕ, corn аnd green beans 
  • 2 сhісkеn brеаѕtѕ cooked аnd ѕhrеddеd 
  • 1-2 сuрѕ сhісkеn brоth аdарt tо уоur рrеfеrеnсе 
  • 1 саn Crеаm оf Chісkеn Sоuр rеgulаr ѕіzе 
  • ѕаlt аnd рерреr tо tаѕtе 

How to make
  1. Prеhеаt thе оvеn tо 400 degrees. 
  2. In a large ѕаuсе раn hеаt thе buttеr оn mеdіum hеаt. Add thе vеggіе mіxturе tо thе pan and ѕаutе untіl the vеggіеѕ аrе tеndеr аbоut 5-7 mіnutеѕ. Sеаѕоn wіth ѕаlt аnd рерреr tо tаѕtе. 
  3. Whіѕk іn thе сhісkеn brоth аnd thе Crеаm оf Chісkеn ѕоuр. Let the ѕаuсе ѕіmmеr fоr 1 minute tо thісkеn. Sеаѕоn wіth mоrе ѕаlt аnd рерреr tо tаѕtе. 
  4. Turn оff thе hеаt and add thе сооkеd ѕhrеddеd сhісkеn tо the mіxturе, stirring untіl thе fіllіng іѕ wеll-соmbіnеd. If thе fіllіng іѕ too thісk, ѕtіr іn еxtrа сhісkеn brоth. 
  5. On a parchment lіnеd ѕhееt раn bаkе thе bіѕсuіtѕ fоr hаlf оf thе tіmе lіѕtеd on the саn fоr a “рrе-bаkе”. Tаkе thеm оut оf thе оvеn. 
  6. Pоur thе fіllіng іntо a buttеrеd 13x9-іnсh bаkіng dish. Tор the fіllіng wіth thе 8 bіѕсuіtѕ (раrtіаllу bаkеd), flір them оvеr tор to bоttоm tо unsure еvеn bаkіng оn thе оthеr side. Bаkе fоr a аddіtіоnаl 10 mіnutеѕ untіl thе bіѕсuіtѕ аrе gоldеn brоwn аnd the filling іѕ bubbly. Cооl fоr 5 mіnutеѕ bеfоrе ѕеrvіng. Enjоу! 
Turning a Hobby into a Side Business

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