Financial planning is really about… collaborative consumption

In the olden days the villagers shared their resources. You did not have to pay. But you had to reciprocate. If you did not you would not last long in the village: no one would share with you.

This type of sharing economy is making an internet-driven comeback.

New low-cost ‘disruptive’ services start up all the time, and create opportunities for your clients, either as users or supplier of services. One phenomenon is the re-emergence of the old fashioned idea of sharing, but this time it’s ‘pay for a share’ rather than ‘barter for a share.’

Fairfax journalist John Collett tells the tale of Colin. Colin is a retired businessman, making $50,000 a year driving for Uber ten days a month, to help his daughter own a home.  We suspect the annual income of $50,000 is exaggerated, but the idea is clear. Uber is a way to make a buck using your car and your spare time. (The jury is out on whether it is legal or not).

There are a growing number of platforms that pay you to allow others to use your stuff, whether it is your car (Greensharecar), spare room (AirBnB), car park (Carparkit) or storage space (Spaceout).

Upwork is a great resource for your prematurely retired clients to access freelance consultations and projects.

For many, buying and selling on E-Bay is more than a post retirement hobby and is a source of much needed cash.

Hosting international students is another good idea. Or even just taking in an old fashioned boarder. It can be cash, security and company for an older client, and make a real difference to their quality of life.

The Dover Group