Retirement marks a new chapter in your life, and you might be ready to make some big changes as you leave the workforce behind. For instance, you may want to downsize your home to simplify your life - but you may also be curious about exploring new ventures, like starting a business. Seniors often enjoy running home-based businesses because they require minimal overhead, and you can manage your operations even with mobility issues. By working with The Jennifer Queen Team, you can find a smaller, cozy home that still has plenty of room to run a part-time business! Here’s how to handle downsizing and launching a business simultaneously.

Declutter Your Home

Before moving into a property with less square footage, you’ll need to sort through your belongings and get rid of anything you don’t truly need. You can separate items into different categories and designate what you want to keep, what you can sell, what you can donate to charity, sentimental items to give to family, and broken items that need to be thrown away.

Choose the Right Property

You’ve tackled the decluttering process, and now, you’re ready to start searching for the home where you’ll spend your retirement. This is a big decision, so make sure to work with a great real estate agent who understands your preferences as a retiree. Even though you’re on the lookout for a smaller home, make sure that your new property has space for a home office and business supply storage.

Decide on a Business Idea

You’ve found the perfect home - and now, you’re eager to get your business up and running! But which business model is right for you? You’ll want to choose something you’re truly passionate about but won’t take up as much time as a full-time job. After all, you do want to relax and enjoy your retirement! Profitable Venture recommends becoming a tutor, selling homemade baked goods, pet sitting, babysitting, or teaching people skills that you learned during your career.

Use Helpful Software

Today, you don’t need to keep track of all of your business details with pen and paper. When it comes to managing your company’s finances, you can rely on invoicing and accounting software instead. This is a smart choice even for small businesses!

With the best invoicing software, you’ll be able to maintain accuracy in your financial reporting and speed up the payment process. By choosing software that enables customers to pay online just by clicking on the invoice, you’ll be able to collect payments in a timely manner. Ideally, you’ll want to invest in a system that also alerts you when customers open and pay invoices and allows you to schedule recurring invoices for repeat customers.

Design Your Home Office

In order to run your business effectively, you’ll need a comfortable space to work. You can have a lot of fun designing your home office and giving this workspace a personal touch! Room Sketcher recommends investing in a supportive chair, picking out a desk with plenty of space for your computer and other items you’ll need throughout the day, adding shelving, a file cabinet, or cupboards for storage, using open-top floor lamps to enhance your lighting, and utilizing a cord tamer to get any stray wires and cords out of your way. You may want to place some family photos on your desk or walls for decor!

By downsizing and starting a business in retirement, you can lower your cost of living while making a little extra income. This is a great way to boost your quality of life in your golden years. With these tips, you’ll be ready to thrive as a senior entrepreneur!

Are you in the market for a smaller home? Turn to The Jennifer Queen Team to get the keys to your dream house! Call us today at 204-797-7945 to connect with an agent.

Photo via Pexels

Written by: Claire Wentz

claire@caringfromafar.com

http://caringfromafar.com/

Relocating: When Your Loved Ones Need You Closer

There are many steps you can take to try to ensure your senior loved ones are being taken care of when you don't live locally. However, there may come a time when you may find yourself wondering if it's time to move closer to them. If that time is closing in, check out these tips from the real estate experts at The Jennifer Queen Team.

Moving a Senior Loved One

Staying in their own home may be important to seniors. Uprooting a senior may be difficult because they've become accustomed to their surroundings and the community they've built. You'd need to plan on packing or selling many of the things they've accumulated and build new social relationships. 

When You Decide to Move Closer

Consequently, it may be easier for you to move closer than to try and move your elderly parent or loved one. You might want to move them in with you or simply be closer to make things easier and allow them to keep their independence.

In this case, you'll want to look at options for buying a new home. Your mortgage lenders will look at your debt-to-income ratio to figure out what an affordable home for you might cost. Once you crunch the numbers, be mindful in your home search.

Your real estate agent will guide you along the way, but with a competitive market, it’s easy to be lured in by a great deal with a fixer-upper. However, an as-is property can bring a fair share of problems that you don’t need with this type of transition. Carefully explore properties that will match up with the lifestyle you’ll be managing.

Monitoring Your Loved One

Once you've decided to move closer, you can look for homes or upgrades that let your loved one visit you safely or make their move with you easier. It could be as simple as adding nightlights around their room and walkways to make it easier for them to see. You'll also need to consider grab bars, putting down non-slip mats, and removing potential hazards. Think about the impact any pets might have as well, whether yours or theirs, and make adjustments accordingly. 

You'll want to consider not just their physical well-being but their emotional and mental health too. Having children and grandchildren closer and a bigger part of their lives may help your loved one's emotional well-being. You'll also want to make sure their daily living requirements, such as bathing and feeding, are being met.

Hiring Help or Becoming a Caregiver

When planning your move, you may be thinking about whether your loved one will stay home, move in with you, or move to an assisted living facility. You'll also need to decide whether you will do most of the caregiving or hire someone else so that you can avoid caregiver burnout and offer the most support.  Finding caregivers and services locally may be easier when you're close by.

The Best Options Can Be Easy

If your loved one doesn't want to move to be closer to you and moving them could be more difficult, you may decide to move closer to them. This keeps their schedule and community intact while allowing you to still be part of their life in their later years. And if you need help selling your home in the Winnipeg area or buying a new one to do so, contact The Jennifer Queen Team to help with the process.

Written by: Claire Wentz

claire@caringfromafar.com

http://caringfromafar.com/