Retirement Home Business Plan

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The number of senior Americans who call themselves boss is growing steadily. Retired seniors are still working, and many are working for themselves.

Bureau of Labor Statistics found the self-employment rate among workers aged 65 years and older was higher (15.5 percent) than any other age group.

It may not be a "hobby" in the strictest sense, but problem solving is a skill many people enjoy doing so much they leverage their talents to start profitable businesses.

Linda Nagamine was an airline customer service representative for 28 years, and after retirement she turned her problem-solving skills into a way to help women never lose their keys again.

If you have multiple hobbies, interests and experience, think about combining a few of them into a workable small business. Combine them to start a business that produces customized chess boards and sell them online.

Or maybe you love fly fishing and community service.

Nagamine used her own problem of constantly misplacing her keys as inspiration for inventing and developing the Joyful Keyper – a simple device for keeping your keys easily accessible inside your bag or purse.

"There was nothing in the marketplace that effectively solved my daily problem of searching for my misplaced keys," she explained.

Holtzman began his photography hobby when he was still working as a sales manager for an auto dealership, flying on weekends and shooting with his film camera.

Eventually, Holtzman's side hustle became his full-time business and led to some award-winning photos displayed in a variety of publications, including Vanity Fair and The Wall Street Journal.