Top 5 Businesses You Can Start with a Reverse Mortgage

A reverse mortgage is a home loan only accessible to seniors who are at least 62 years old. It involves exchanging their home equity for instant payment, regular monthly payments, or a line of credit to supplement their retirement income.

Although retirement is a time to explore new aspects of life different from daily work life, it can be tough to cope with. According to a survey report by CNBC, one in six retirees is considering getting a job. Some significant reasons these seniors cite are that they need more money and want to avoid boredom.

A similar study published by The Gerontologist, an Oxford Academic journal, confirmed retirees usually missed work.

Unfortunately, it is only sometimes easy for retirees to get jobs compared to people of more vibrant age. Many companies need to offer flexibility that accommodates seniors.

2021 data from AARP also revealed that 78 percent of older workers experience workplace age discrimination.

For homeowners, retirement can be both fun and exciting. You can get employed and still enjoy your dream life with an All Reverse Mortgage (

How does reverse mortgage work?

A reverse mortgage is granted to homeowners against their home equity. The loan does not require monthly repayment. It is only repayable when the borrower no longer lives in the home.

Interest and fees accumulate every month, thus increasing the amount owed. As the loan amount increases, your equity invariably decreases.

Homeowners are also required to maintain the property and pay the required taxes. Failure to do this can make the lender demand repayment of the loan.

The reverse mortgage loan is a good source of funds for seniors who want to avoid the pressure of making monthly repayment and focus solely on enjoying their retirement.

You must do more than limit what you can do with the loan once approved. Hence, it can be used to start any business of your choice.

Below are ten business ideas you can start with a reverse mortgage:


There are no set qualifications required to become a consultant. The major thing you need is your expertise in the field, which usually comes with experience.

As a retiree, you should have considerable years of experience on the job, and this can come in handy for an organization in a similar industry.

The average cost of starting a consultancy business is about $12,232. This includes the cost of setting up a business LLC and getting trademarks, copyrights, patents, office space, and software, among others.


If your fingers are still good at operating a computer keyboard, consider freelance jobs such as academic writing, blogging, copywriting, and others related to your work experience.

There are companies out there willing to hire you on a contract or freelance basis because of your experience. You will still enjoy the feeling of being employed while working remotely without the stress of traveling to work.

Some freelance tasks require you to invest in certain gadgets and software.


Retail e-commerce sales in 2022 were estimated at $229 billion and are forecasted to be more than $1 trillion by 2024. If you are the entrepreneurial type with a knack for sales and marketing, dropshipping might be a good business to venture into now that you are retired.

It is a business model that involves selling products online without keeping stocks on hand. Whenever you get an order, you forward it to the dropshipping supplier, who then sends the other to the buyer.

To start a dropshipping business, you may need to create a website and invest in digital marketing.


A franchise is a license that authorizes the holder to use the business knowledge and trademarks of the franchisors for business purposes. The license usually comes with specific standards the franchisee must uphold.

It is not limited to the fast-food industry. According to the US Census Bureau, almost 300 drives offer franchise opportunities.

In 2022, it was estimated that there would be some 792,000 franchise establishments in the United States.

You can get a franchise in an industry of your interest. Since the leading company handles the significant bulk of promotion and marketing, you can focus on doing what you love ― running your own business.

Franchise fees can cost between $20 000 and $50 000. A master franchise granting you the sole operation of a territory can cost $100,000 or more.

Online tutor

Whether you are a teacher or an expert in a field, online tutoring can be a great way to earn extra cash during retirement.

Retiree services as online tutors are always in great demand. This is because they are presumed to know and probably the practical experience in the subject, thus making them better teachers.

Online tutoring gives retirees the fulfillment of sharing the knowledge accumulated over the years with a younger generation.

You may need to invest in gadgets and software to become an online tutor. If you intend to make it a private business, you should spend on building a website and application and marketing the tutoring platform.

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