Are you ready for a few mind-blowing facts about retirement in the United States?
- Over 50% of retirees plan on working after their retirement
- 1 in 5 Americans believe they don’t have enough saved for retirement
- 15% have no retirement savings at all
So if you’re reading this, you’re likely searching for ways to invest retirement savings and boost your income to get the retirement you visioned.
Or maybe you’re just bored and looking for a post-retirement side hustle.
Either way, it’s no surprise that many are looking for ways to invest savings and pensions into a new business venture.
For those unfamiliar, Amazon FBA stands for Fulfilment by Amazon. This e-commerce model involves sourcing and reselling items on Amazon.com
The business model is quite simple:
- Sellers source in-demand products from suppliers (either domestic or overseas)
- Ship products into an Amazon warehouse
- List them on Amazon, and resell them for profit
The best part is that the whole business can be run from home at your convenience.
You’ll have to research profitable products and set up your business for success, but that’s seriously the gist of it.
It’s not a get-rich-quick scheme, (to the disappointment of many), and requires some upfront work and management, but the payoffs can be huge, and the business is easily scalable.
Just to dive deeper, here are a handful of reasons why Amazon FBA is great for new retirees looking to start an online business.
| Did You Know? E-Commerce is the approach of buying and selling services entirely online. According to the US Census Bureau, e-commerce accounted for a mere 14% of retail sales in the US in 2022, and is expected to grow. As it does, I predict we’ll see more brick-and-mortar stores and shopping malls shutting down around the country and worldwide. For more information, check out the encyclopedia of free E-commerce and Amazon resources on my YouTube channel. |
A Small Initial Investment
Traditional businesses require renting or buying physical space. That space needs to be well-equipped with furniture, office supplies, and workers.
But there’s a huge problem with starting an in-person business in 2023. Everything is astronomically priced, and a huge financial risk.
On top of that, it also appears that Crypto’s heydey has come and gone.
And that’s where the e-commerce advantage comes in.
Amazon FBA can be started with as little as a $3,000 USD product investment; chunk-change compared to the cost of starting a physical business with all its associated costs.
The small start-up costs give you plenty of financial wiggle room in case you need to outsource some elements of the process, such as marketing, ad campaigns, or product photography.
Be a Location Rebel
Did you work your whole career only to miss out on remote work and work-from-home opportunities?
Honestly, I’d be a bit salty if that were the case for me.
But rejoice! The good news is that you can run your Amazon FBA business completely remotely; meaning you’ll just need a laptop and a decent internet connection.
So mid-morning in the garden, happy hour at your favorite pub, or at midnight with a nightcap. It’s your call. Amazon FBA gives you complete locational freedom to work when and where you want.
A Feasible Workload
Do you really want to work after retiring?
Hopefully not.
Luckily, Amazon doesn’t require a 40-hour work week, or anything close for that matter. It’s not a traditional ‘job’ in the sense that you’re not paid a salary or hourly wage.
It’s up to you to determine how much time and effort you’d like to devote, and your sales will ultimately decide your profit.
So how much time do you need to set aside each day?
At least two hours a day; more if you’re completely new to the platform.
But just like any job, selling on Amazon gets easier with time. They’ll be an initial learning curb, and your first few months will likely be quite time-intensive. But after that, you’ll begin to learn the ropes and discover shortcuts to best practices to reduce time devotion.
And not to sound cliche, but Amazon FBA is indeed a labor of love. The more you put into it, the more you’ll get out of it.
Stay Engaged and Goal-Driven
Retiring isn’t always the long-awaited, much-celebrated occasion often portrayed in film and television.
In fact, many new retirees find it difficult to adjust to life without work. The lack of a day-to-day routine can result in feelings of depression, unworthiness, and isolation.
It may sound completely contradictory, but many keep working after retirement specifically to avoid associated the health problems that come with increased inactivity.
An online business is a great solution for those who want to keep their mind and body active, or to keep advancing their career and skillsets.
Learn and Develop New Skills
You won’t be bored starting an e-commerce business, and you’ll wear many hats as an Amazon FBA seller. Including (but certainly not limited to):
- Graphic design
- Creative Writing
- Video Editing
- Marketing Skills
- Copywriting
Fear not, if you’re not confident in your creativity (such as me), it’s easy to hire these services out. And a lack of these skills doesn’t mean you can’t succeed on Amazon.
If you decide to take the DIY approach, make sure you’re up to date on marketing trends and tricks.
Are you searching for an additional post-retirement income stream?
Looking for a remote work opportunity to increase your savings heading into retirement?
Learn how my Amazon Wealth Accelerator gives you a direct path to Amazon and E-Commerce success, without the steep learning curve.
