Why Seniors Are Flocking to Home-Sharing Platforms
An Opportunity for Easy Money and Social Engagement
who find themselves rich in assets but struggling with liquid finances. Home-sharing allows them to tap into these resources. According to Priceonomics, U.S. Airbnb hosts bring in a monthly average of $924. But home-sharing can do more than boost your income. By opening a room in your home to travelers, you’ll encounter all kinds of people you might never otherwise meet, prompting dynamic social interactions and meaningful connections. The rating systems on Airbnb and similar platforms almost entirely prevent would-be troublemakers from entering your property, and users report that when a rare negative experience does occur, the company typically has your back. It’s a great way to stay socially engaged while staving off loneliness. Best of all, running a modestly successful Airbnb usually doesn’t take much work. It simply requires you to set up a neat, welcoming space, keep in contact with your guests, and ensure the check-in and check- out processes are as straightforward as possible. In fact, senior hosts seem to have a leg up on their younger counterparts, as elderly hosts earn the most consistently positive ratings across the globe. Airbnb and The Freebird Club won’t make you rich, but they’re relatively low effort enterprises that come with some massive benefits. If you’re looking for a little busywork, some extra cash, and a little social interaction in your retirement, hosting may be your best bet!
The freedom of retirement certainly comes with its perks, but challenges of post-work living exist as well. Chief among them, for most elderly folks, are fears of social isolation and financial insolvency, as having coworkers and a regular income are not as common in retirement. Perhaps this is why so many retirees are flocking to home-sharing platforms like Airbnb or its seniors-only cousin, The Freebird Club. Airbnb reported last year that the 60-plus age bracket is its fastest- growing demographic worldwide, with the number of senior hosts as much as doubling every year.
Home-sharing platforms can be a tremendous boon to a tight retirement budget. It’s an especially attractive option to elderly folks
How to Be a Wealthy Employee
CREATING VALUE IN THE WORKPLACE
At one time or another, we have all been employees. When I was an employee, I was mostly concerned about how much time I had to be at work, when I was going to get paid, and how much I was going to get paid. As an employer, I was concerned about whether the employees were going to show up when they were supposed to, how much was I paying them, and if they would do the job they were hired to do. There are a couple of things I have learned about employees. One is that you can’t reprimand a conscientious employee because they will be harder on themselves than you ever could be. The other thing I have learned is that being an employee is about creating value, which leads me to think about employment in our society today. The future of employees is about creating value. If someone is only getting paid $10 an hour, it’s probably because they are only creating $10 an hour in value. The job they’re doing is probably very basic and can be done by someone else very easily. In order to get paid more money, you have to create more value. For example, I have a number of attorneys who work for me. They get paid between $175 to $400 an
hour. You might ask, “Gee, Terry, why would you ever use the $400 per hour attorney when you can use the $175 per hour attorney?” Because the $400 per hour attorney is very good at what they do, and they create enormous value for me when I use them. The value principle applies to any business. Value dictates what a person is to be paid. If you want to be paid more money, create more value. And how do you create more value as an employee? Ask your employer. They will be glad to let you know what you can do to help create more value.
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