#120 - How to Use the Sharing Economy in Retirement

It’s that time of the week again - time for another episode of The Retirement Answer Man featuring your very own Retirement Answer Man, Roger Whitney (that’s me). On this episode I’m going to introduce you to the concept of what is being called the “sharing economy” (in case you didn’t know what it was already), and give you some tips about how you can take the steps to utilize the various aspects of the sharing economy in your retirement years. I think you’re going to find this episode to be chock full of great, actionable stuff that you can use. So be sure you take the time to listen. The sharing economy is here. Are you willing to be a part of it? Do you know what the sharing economy is? It’s the idea that people with excess resources (like a spare room, an empty garage, or even an extra seat in your car) make those resources available to others who have a need for that resource on a temporary basis. I believe that there are many, many opportunities for those moving into their retirement years to supplement their retirement income and build a better life. If you’re curious what’s possible in your situation, you’ll be surprised by the things I chat about with my friend Glenn, from the Casual Capitalist. You could get income from things you already have that you’re not using. One of the big concerns for those who are moving into retirement is whether they will have adequate income for the expenses it will take to live a comfortable and happy life. Today’s episode is focused on ways that retirees can utilize the sharing economy to build new avenues of income using things they already own or possess. You could rent out your car, a spare room in your home, extra storage space, or even drive people around your area for a fee. You can find out about many of the opportunities out there on this episode of The Retirement Answer Man. The sharing economy could help you stay connected to people during retirement. While more and more Baby Boomers are working within the sharing economy to build their income, many of them are finding an unexpected benefit: they are enjoying the relationships they are having with people they serve. It’s a surprising way that many are keeping themselves engaged in society and out of their homes, avoiding the danger of becoming isolated and lonely. Today’s guest on The Retirement Answer Man is Glenn, from the Casual Capitalist and he’s got loads of great information to share about what the sharing economy is, how it works, and what you can do to get involved for the sake of increasing your income and even building new relationships during your retirement years. Interested? Be sure you listen. Would you like some simple, actionable retirement tips sent to your inbox every Saturday? I’ve recently put together a new offering that’s absolutely free, designed to help you discover ways to make the most out of your retirement years and build a great life even though you’re out of the workforce. The things I share are not shared anyplace else, so I encourage you to sign up for my “6 Shot Saturday” emails to get practical help every, single week. If that sounds of interest to you, go to www.RogerWhitney.com and sign up today! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:28] Roger’s introduction to this episode.[0:46] The Retirement Answer Man has just broken the Top 10 in iTunes![2:00] How you can get your 6-shot Saturday episodes.THE HAPPY LAB [3:26] What do you do when you haven’t been doing the things that bring you enjoyment.[5:15] THE CHALLENGE: Identify the things that make you happy and figure out how to do them.HOT TOPIC SEGMENT [5:38] How Baby Boomers are moving into the cities from the suburbs.[7:22] Why older folks are moving into the cities: My ideas.WHAT DOES THAT MEAN? SEGMENT [9:24] What is “the sharing economy?”[10:25] An example of the sharing economy in action.PRACTICAL PLANNING SEGMENT [12:48] Roger’s introduction to Glenn Carter from The Casual Capitalist - and this topic.[13:50] What Glenn means when he talks about “The sharing economy.”[15:57] How can the sharing economy be an opportunity for Baby Boomers?[18:30] How the sharing economy helps meet a fundamental need for Baby Boomers.[20:52] Income averages for people who are “sharing economy workers.”[21:58] Examples of sharing economy platforms.[34:27] Tips for using the various platforms that exist.[35:40] How you can use the quiz Glenn offers.TODAY’S SMART SPRINT SEGMENT [36:57] Check out the sharing economy websites so you can learn how they work and what they are.RESOURCES MENTIONED IN THIS EPISODE Contact Roger: http://www.rogerwhitney.com/retirementanswers/Roger’s retirement learning center: www.RogerWhitney.com/learnThe Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerManwww.TheCasualCapitalist.com/DigitalSenior  - Glenn’s website and his offer for you.www.AirBNB.com - Housingwww.AirDNA.co - Housing reviews and needswww.Uber.com - Driving and transportationwww.TaskRabbit.com - Handyman or task based serviceswww.WiseAnt.com - tutoring and teaching www.Upwork.com - freelancers or virtual assistants