Often people find that the money they saved for all those years is barely enough to pay their monthly bills. Also, gone are the days when you worked you whole life for one company and retired with a regular pension. Times have changed now and people have to find their own ways to save money for retirement. This is where a home based business can kick in and help you out. How will it help?Starting a home based business can have a lot of advantages for you. Most importantly, it will give you a way of earning good money if you put in enough effort. It will also fill the huge void created by your retirement in life, where you have a lot of time to kill and nothing for work for. Also, the cost of living goes on increasing at an exponential rate and you can rarely plan for that.Low investment:If you are thinking of starting a home based business after retirement, it is not as if you have to put all the money that you saved into the business. You can start with small investments and reap good returns with time. Especially with the advent of the internet, retirees today have the kind of choices that they didn’t have about a decade ago.Look around on the internet and find out what kind of home businesses exist that can make use of the skills that you have acquired over the years. You will find many websites which will help you out with when trying to choosing a business.When to start out:You retire and decide to start a home based business to keep earning income. You invest some money into it and work hard only to find out that the field that you have chosen is not the best for you. This may lead to a loss of saved money and it could also be a cause a frustration.Instead it is better to start planning for your business in advance, that is, when you are still working. This is the perfect time to start, since you don’t need to commit fully to it and can work part time. It will give you the opportunity to try different kinds of businesses, without much loss. By the time you do retire, you will have figured out what kind of business is best suited to you. If you are going to retire or have already retired, make sure you consider the prospect of a home based business, before planning the future. You may earn enough money to pay your health bills and also go on long vacations.