Free Startup Idea Fridays: Retirement Roommates

I've been coming up with business ideas since my earliest childhood memories. Most of them have been absolutely terrible. So of them have been decent. And now I'm going to give away some of my best ones for free.

Am I really give these ideas away with zero expectation of return? Absolutely.

  1. Ideas are worthless. It's all about execution. If you want to take one of these ideas and run with it, do it. I'll even be happy to give you a brain dump with all of my notes on the idea.
  2. I take coffee meetings all the time with people looking for startup ideas. Perhaps one of these ideas will help them spark a new idea of their own.
  3. I want to get these ideas out of my head to clear some of my brain's RAM. That way I can come up with new and better ideas.
  4. I like giving things away.

Without further ado...

Retirement Roommates

Elevator pitch: There is a massive supply of old people. Some of them live in a home by themselves (supply) and some of them are looking for a more reasonable place to live (demand). Retirement Roommates is the platform to connect them.

Backstory: I have two grandmother's who are both living by themselves in the same houses where they raised my parents. They are both getting older (mid 80's) and have no need for such a large house or the expenses that come with having a large house. They get along amazingly well. Put them together under one roof. Bam!

Ok. So before you think I'm some kind of jerk who is looking at my grandmothers as an expense and Retirement Roommates is just a way to save money, I'm going to stop you right there. Yes, there are obvious cost savings, but there are many other important benefits to this.

  • Companionship: They are both lonely. They each have many children and grandchildren who live really close to them, but both of my grandfathers have passed away and they are alone more often than not. This will definitely solve that problem.
  • Less worrying: A major concern of elderly parents living by themselves is health related issues. What if something happens and no one is around? If you call and they don't answer, you immediately start to think the worst. This will help reduce some of the worrying by having someone else around.
  • Continued lifestyle: This may allow people to live in their homes longer, live life on their own terms or remain independent a little bit longer than they may have been able to do on their own.
  • Shared resources: With a bit of careful planning, there is the opportunity to share certain resources like long term care or live-in aids, transportation, or any number of things.

Of course there are some massive financial savings to be had here. I mean massively massive.

Retirement Roommates may seem like a ridiculous concept, but it could have immense impact on the lives of some many. It's good for people with extra space in homes. It's good for people who are looking to move out of their homes. It gives peace of mind to the children looking after their parents. Add in ridiculous cost savings and you have a winner. Create the platform to connect them, make a lot of money and significantly improve the lives of many people.