This is how to solve it and earn more.
How I moved from financial anxiety to opportunity, and how you can too.
I’ll be honest with you, not long ago, I was exactly where you might be right now – staring at the results of a pension calculator and feeling the weight of those numbers baring down. I sort of knew what to expect, but the actual numbers in print were a reality check.
My savings weren’t enough, my pension was inadequate, and the retirement I’d always wanted was fading fast. I’d been employed my whole life, so why was it that when I looked at these numbers, I felt stuck? And at 62 years old, I couldn’t rewind the clock and fix the ‘savings steps’. I hadn’t taken 25 years ago. Life doesn’t work like that. I had always known I should have saved more – but now, here we were…
So, my wife and I decide to take a leap. We sold everything in London and moved to Portugal, and set up a guest house and a cafe. I thought it would be lazy days. But life had other plans. The work was exhausting, the money went out as fast as we earned it – and then Covid hit. No guests. No income. Just me on my laptop watching my savings sucked out by living expenses.
That’s when a friend of mine suggested I take a look online. So many older folks are using the world of online earning to start additional incomes, and re-boot their outlook for the next 20 or so years. It wasn’t easy at first—I was unsure, and definitely not tech-savvy. But step by step, I learned. And step by step things began to change.
Today, I’m here to tell you that it’s possible. If you’ve ever felt that same anxiety – wondering if you’ll ever have be able to stop working or if your retirement dreams are simply a bridge too far – you’re not alone. But, the good news is, there is a way forward. And it’s a path more and more of us older folks are opening up and thriving on. Now my mortgage is paid off, we shut the guest house for three months a year and chill, and Vicki is planning her dream holiday – two weeks in Japan and a week in Thailand.
If you want to jump straight in – then click the link below, tell me where I should send some free introductory videos – and I’ll show you where I started. Or read on and I’ll give you all the detail.
Understanding the “Pension Calculator Gap”
Let’s start with this “Pension calculator” gap. If you’ve ever used one, you know the feeling – you enter your details and get a “Projected Pension Income” – and I’ve never seen anyone happy with the result! These calculators are useful, but they often show a shortfall between what you’ve saved and what you’ll actually need for a comfortable retirement. Mine certainly did.
Why does this happen? Well, pension calculators are great tools, but they can’t predict every variable—like rising costs of living, unexpected expenses, or the fact that people are living longer than ever. And if you’re relying solely on your state pension or some employer’s pension scheme, chances are it won’t be enough to cover everything.
That’s why they call it a gap. It’s more than just a number – it’s the gap between the life you’ve imagined and the reality you’re facing. But as someone once told me “Gaps are just bridges waiting to be built”.
Why you might be facing a shortfall?
If you’re seeing a gap, you’re not alone. There are real and honest reasons this happens:
Shrinking State Pension: Search “state pension how much,” and you’ll find that while it’s helpful, it’s not nearly enough to cover your expenses.
Inflation: No need to explain this one. Inflation goes up all the time – the money you have saved doesn’t.
Inadequate Contributions: Life gets expensive. Mortgages, kids, emergencies, stuff. It’s easy to fall behind on saving. And I was also guilty of putting life in my 30’s and 40’s ahead of my life in my 60’s and 70’s. Easy to be critical now – but I did what I did and now I need a solution.
Late Planning: Most of us don’t really focus on our retirement until it’s just around the corner – and by then you can’t just “top it up”. I also couldn’t go back and do things differently, I had done what I had done. And perhaps this was the worst part – not just the uncertainty I faced – but the feeling that I’d let down Vicki, my wife, and I was steering us to a ‘small’ retirement.
How to Bridge the Gap
Exploring Online Earning
Here’s where things start to get exciting.
What if I told you there’s a way to earn extra income that doesn’t involve getting a second job, commuting, or working for someone else? (If you can get a new job that is?!)
The internet has opened up opportunities for folks like us. You don’t have to be a tech expert to get started, and the learning curve isn’t as steep as you might think.
When I started exploring online earning, I had my doubts. And I was really concerned about the IT stuff and my lack of IT skills. But I discovered that it’s not about being an IT wizard – it’s about using the skills and knowledge you already have and turning them into income streams. Whether it’s teaching, writing, selling products, painting, chatting folks through problems like divorce or bereavement, or sharing your personal expertise, there’s a place for you online.
Practical Ideas for Online Earning
But, you may ask, what on earth would I do online? I struggle with computer stuff as it is. Well, here are some ideas to get you started:
Freelancing: Use sites like Upwork or Fiverr to offer your skills—writing, drawing, consulting, woodwork, plumbing, accounting or even project management.
Teaching or Tutoring: Platforms like Teachable and VIPKid allow you to teach what you know, from academic subjects to hobbies like cooking or photography.
Affiliate Marketing: (This is one of the things I do). Promote other people’s products you believe in and earn a commission for every sale. Go for something you know a bit about. Like cars or boats, sailing or watches – whatever.
Selling Digital Products: Create eBooks, templates, or online courses that people can buy and download instantly. (Vicki and I have spent 6 months or so learning how to take our knowledge of running a guest house – and using that to create an online course that also earns us a bit of income each month)
Starting a Blog or YouTube Channel: Share your knowledge, stories, or hobbies and monetise through ads, sponsorships, or merchandise. (YouTube has lots of their own videos that teach this approach).
The key is to start with something that aligns with your strengths and interests. It’s so much easier to stay motivated and become successful when you enjoy what you’re doing.
Crafting Your Financial Future With Confidence
Here’s the thing: taking that first step is the hardest part. But once you do, you’ll find that earning online isn’t just about making money – it’s about taking back control. This was key for me. I started to feel like I was ‘on a mission’ again, and actually doing something to fix a problem – not just sitting around being miserable and worrying.
Start by setting realistic goals. Use things like a pension planning calculator to understand exactly how much extra income you need. Then, choose an online earning path that suits you. It’s okay to start small. In fact, I recommend it. A few hundred a month can make a big difference. And then, as you get the hang of things – you can start to do more.
Conclusion
You Can Do This.
If you’re feeling overwhelmed, or depressed by the numbers on a pension calculator, don’t be – that won’t get you anywhere. Your financial future isn’t set in stone – it’s something you can change, it just means you have to DO something.
By exploring online earning, you are starting to do something. I don’t know where it will lead you, but you will be active, involved and making a difference – not just sitting on a ship that feels like its sinking. You don’t need to have it all worked out. You just need to take the first step. The internet is a big place, and there’s room for you to succeed.
So why not start today? After all, the best time to plant a tree was 20 years ago. The second-best time is now.
Click below to access the free series of video workshops that will walk you through the opportunities available, how to get started, and how to build your online income with confidence.