Saturday, April 13, 2024

Business ideas for retirees to earn and keep busy

By Benson Bundi

A comfortable retirement is a dream and the ultimate utopia for most people, especially civil servants.

At the ripe age of 60, most people will have downed the rewarding burdens of parenting and educating their children, and it will now be time to enjoy the peace and tranquillity one has craved over the years.

However, that is not always the case. Many retirees often find themselves bored and bootstrapped for cash, depending on their children for sustenance.

That said, there are several ways retirees can make use of their free time productively, both for themselves and the greater good of society, in activities that don’t require too much physical activity or hand-to-eye coordination.

This is how you can ensure you’re not cash-poor after retirement

For instance, since most elderly folks are extroverts, they might fit in activities such as preaching, women’s guild membership, village leadership positions (chief, board chairman, church Treasurer), etc.

Alternatively, they can consider the following:


The senior citizens can consider poultry farming, beekeeping, fish farming, zero grazing, or pig farming, among other profitable agricultural ventures that demand little physical activity and don’t need much startup capital.

They can also farm seasonal crops like bananas, maize, potatoes, and beans, which often have ready markets.

Take the case of Mary Moraa, a retired high school teacher from Kisii county, who invested her retirement savings in a drip-irrigated farm of local vegetables and fruits, which she consumes, sells the surplus, and in the process, sources her daily bread.

How to Manage Early Retirement

Farming is an especially ideal venture for those who have previously worked in agricultural-related careers like agroforestry or agricultural extension. For those who have not, it would be best for them to seek advice from seasoned farmers.


Retirees can turn their time and lifelong wisdom into business ventures. They can run general shops, hotels, and other businesses.

For instance, many retired medical practitioners thrive well in clinics and pharmaceutical businesses. Similarly, principals, teachers, and education officers can start and run their own private schools.

Bankers and lawyers can open consultancy firms and sell their hard-learned occupational lessons. These activities will keep them busy, and they won’t have to rely too much on their offspring for sustenance.

However, before starting any business, one should consult a licensed business advisor, who will help you develop a business plan and advise on how best to run the business.


No matter one’s age, it’s always the right time to start investing. Retirees can consider various investments, such as speculating in stock markets, buying government securities, and investing in money market funds, which are a good source of passive income.

How to save and invest for a financially secure retirement

Alternatively, they can invest their retirement savings into building rentals and survive off the rental income. If they don’t have sufficient investment knowledge, their children can invest on their behalf and send them the proceeds.

Bottom Line

To keep busy and earn income, retirees can consider various options depending on the following:

  • The skills and experience they possess
  • Their passions & interests, including hobbies
  • The resources available to them, e.g., finances, space, land, vehicles, computers, internet, etc.
  • Their circles and networks

That said, it’s a good idea for everyone to plan their retirement early, so they won’t worry about what to do during their sunset days.

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