This year I want to see about creating an alternate stream of income. I currently do software project mgmt for a corporation. I've done this for 20+ years and want to start something new and different. I am 59 yrs old, so while I can still do manual work (and I do for charity and our property) I would like to start some income by means without relying on robust health. I've done logging, commercial diving, carpentry, roofing, home plumbing and electrical, installed hardwood floors, some watch repair, coin collecting, reloading ammo, At this point in life I would like to take advantage of having a chunk of savings I can afford to put to work.
Some guidelines for what I am looking for:
- How to use about $50K cash (could do more for great opportunity) to get a supplemental income of say $25,000/year?
- Not looking for passive investment, but something I can add value to
- I learn quickly and love to research and dig into new subjects, and willing to put in substantial effort
- Ideally could start part-time and develop into full-time effort if need be
- Not interested in pure marketing/sales
I'm open to any ideas. I've thought of things like buying some specialized machinery to rent out or sell my services with same. Or buying something in bulk to redistribute? Really getting into serious coin trading? Buying older trucks and refurbishing them with minor repairs and resell? Scour garage sales and Craigslist for some type of discounted items that I could easily resell for good profit if take time to advertise, clean up, minor repair? i just can't pin down an exact product or service.
Any ideas how to take advantage of a lump of cash to get into a modest business?