The rise of both the national living age and retirement age has seen the increase of more 50+ professionals working rather than opting for early retirement. This is partly due to an increase in the cost of living in the current economic environment. Therefore 50+ professionals are seeking ways to add to their main income with side investments and we believe that utilising their skills to aid this investment is the key to a successful happy investment.
"I cannot live off my pension!"
We carried out interviews with working professionals within the 50-65 age bracket and a common thread we found was that they would not be able to live off of their pension. So we wanted to aid them by providing a second income that adds to and builds up from their existing career.
What is the app?
A platform where experienced 50+ working professionals can share their experience and knowledge which new professionals to their careers' industry.
The 50+ experienced professionals will be known as 'sharers' and the new professionals will be known as 'learners'.
- The learners will go to the app when they need help with a project they are currently working on
- Alternatively if they need a second viewpoint/opinion from someone that knows the industry well and has a wide reaching portfolio then they can also contact the sharers for this too.
How does it work?
- As shown in the screen shots above the app will require an account for both the sharers and learners to build up an online profile within the platform.
- The learners can search by profession and then look at a selection of sharers available to them on the platform - in order to select one sharer from the list the learners can look at the sharers' rating and past portfolio of work uploaded to the platform.
- The learner will then pick a sharer and ask them a question about their project - the sharer will then reply with a message and opt for a continuation of response they think will be best to help the learner out, e.g. a video call to discuss ideas .
How will the sharers get paid?
The professionals will be paid a percentage of all the users subscription fee and can earn more through reward credits for tasks that they complete.
*credits will be calculated by the salary of the sharers' profession.
Payment will work so that the learners pay £4.99 per month to have this resource on a subscription model.
This will produce a self sustaining flow of money alongside sponsorships from companies interested in hiring hard working professionals and advertising directly to them.
What happens after they have used the app?
Once the learner has been successfully advised by the sharer they will then have to leave a rating and a short review of their experience working with their sharer in order to help out future learners.
The app being based on a subscription service encourages the learners to use the resource whenever they need to. It would be suggested that the companies that have hired the new young professionals to provide this app as a tool when joining the business as it means they have an additional workforce to support their employees.
Money earned through the platform will be seen as a second income for the sharers and go towards achieving a happy retirement where they don't just have to live off a pension.