Need help learning how to make money in retirement? We’ve developed a list of some of the best and dependable ways to do so.
A few weeks ago, we did a post on how parents can put their kids in debt without meaning to. Now, we want to share insights on our you can create a stable income source for yourself if you are worried about your retirement funds.
Retirement may seem like bliss for some people…
more time to travel to new places….
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spend time with friends or visit their kids more.
However, these fairytales don’t happen all the time. Currently, over 64 percent of Americans are worried that they don’t have enough saved for retirement.
Even more, there’s this aching loneliness that might set in a great deal of us, when we seemingly have too much free time.
If you are in any of these groups. Then you should undoubtedly build an enormous income, making money in retirement.So, here are 28 ways you can make money in retirement and look forward to a meaningful future.
Read more: Should your parents put you in debt?
What about those good ol’ tricks that have helped you through your days in the workforce? You can get paid part-time to teach others about it and help them grow their business. There are diverse ways to fit those skills and experiences into a good business portfolio.
You can also consider giving virtual classes on any subject you are most passionate about. You don’t need a degree to teach anything. All you need are your wits and depths of knowledge on the subject you want to tutor.
Although we’ve already covered freelance tutoring, English is, in fact, one of the biggest. There are thousands of students all over the world, ready to use your prepared English courses or one-to-one language training programs. Even more, you don’t need a certification or degree; all you need is a command of English.
If you have a knack for throwing good parties, then you can get paid for it too. There are thousands of concerts, weddings, birthday bashes, and lots more that are thrown every year. You can even dive into the corporate scene if that is your thing and handle business events, professional association meetings, conferences, etc.
If you know all the hotspots around you and how to make a guest feel comfortable, then you’ve got a booming business right there. As a Concierge, you will help your guests, build their travel schedules, get the right restaurants, events, tours, and actives.
This is a simpler version of concierge services. In this case, you are strictly working as a guide and organizing tours. Once you have good knowledge of your city’s history, architecture, and tourist attraction, you are good to go.
Vacations can be genuinely amazing if you get a chance to sit in a stunning mansion all through it all. House sitting involves taking care of someone’s home in their absence. Once you build your reputation, it can be a surefire way to spend your retirement seeing the world and getting paid for it. (Check this book on Amazon on Housesitting, it is a lovely way to start).
If you know how to write good copies or fantastic blog posts, then you can build your business doing just that. There are thousands of businesses out there waiting for you. You can also use freelance marketplaces to get yourself off on the right foot.
If you have handy craft and can make custom products, such as personalized clothes for babies, or one-of-a-kind gift items, then there should be nothing stopping you. eBay, Etsy, and Café Press are only a few of the marketplaces where you can sell those services effortlessly.
Some people talk about blogging in retirement. While blogging is beneficial, you shouldn’t blog when you are down to a few pennies. Blogging needs consistent dedication, and the willingness to spend a little bit. You can always start blogging right away, but it’s much better to use other make money streams for some time, before adding blogging to the mix so that you can enjoy passive income.
Pet Sitting looks a lot like house sitting, but this time you will be at your client’s home to take care of their pets as well. Pet Sitting jobs can also help you travel from place to place, giving you more freedom to share your amazing love for pets and get paid.
If you love raising kids, then parents would be glad to live their little ones in your care, in exchange for a good income. Your responsibilities may vary from making dinner, to homework, picking the child from school, and bathing them. This service usually pays an hourly wage and depends on your location. However, your average pay is $12 per hour, which is really good.
Join the Sharing Economy
What do you have in your home that isn’t really in use? Your car, electric drill, food processor, or even an extra room in your home. The sharing economy gives you access to make money in retirement with those things. The sharing economy is fast-growing, so there’s much income you can make right there. Here are a few you can try out: Airbnb, Turo, HyreCar, Getaround, Rover Parking, Just Park, Panda Parking, Pavemint, CurbFlip, and Parklee.
Pet Boarding/ Pet Day Care
This seems like Pet Sitting, but in this case, you are turning your home into a cool space where pet owners can bring their pets for you to watch while they are out during the day or on vacation. If you are crazy about pets, then you can become that renowned pet host in your area. Pet boards can earn as much as $10.82 an hour. You can kickstart your pet caretaking career by creating a profile on local job boards or websites such as Fetch! PetSitter, Rover, and Care.com (which offers a range of care services, including senior care and childcare).
Retirement shouldn’t be an end to your job or career. There are lots of countries willing to harness all those stores of wealth in you. All you need is that adventurous spirit and the willingness to build a life elsewhere. Simply do a google search on “Jobs for Expats,” and you will find remarkable positions all over the world.
If you have a flair for administrative duties, organizing schedules, and lots more, you can build a powerful virtual business doing just the same. But the fun part is that you can sit at home in your pajamas, and literally, control your client’s schedule. It’s a job that gives you the freedom to work the jobs you want right from your comfy home office.
Cooking can be so much fun if you’re making money from it. You can make money in retirement, baking, catering, or cooking those delicious recipes; you never had the time to try. Your friends and families would beg to have your tasty goodies at their events and will help spread the word as your business grows.
If you thought your gardening skills should be a knowledge shared between you and your peonies and roses, then think again. There are lots of people ready to learn your gardening skills so that they can work on theirs too. Even more, you don’t have to grow someone’s else garden.
Small business owners wear too many hats. That’s why they are willing to pay for your bookkeeping services to keep them up to date on their finances. Even if you don’t have an accounting background, but love numbers, you can always build that freelance bookkeeping business.
Tax Preparation Services
Here all you have to do is prepare tax documents for business owners. There is a fantastic short-term job you can do on an annual basis. There are lots of companies willing to pay your fees so that they can get those tax preparation skills.
As a personal shopper, you can choose what kind of items you want to help people shop for. There are lots of busy people out there who don’t have the time even to pick out their shoes. Once you have an eye for style, color, and of course, getting the best value for money, you can take the shopping of their hands.
If you love buying old things and bringing them back to life, then this is the right way to go. You can buy old and antique things, work on them, and sell for good money. It is a highly sustainable business and has grown over the years.
Virtual Customer Care
Customer service is the heart of every business, and you can be right there with them while earning the extra cash. You can either make this a full-time job or work a few hours a week. Whatever works for you, there are hundreds of customer support agencies out there looking for candidates like you.
If you have a flair for interior decoration, you can make money helping homeowners spruce up their homes by cleaning, updating, and decorating to get their house ready for the market. You can also branch out by working directly with new homeowners who need a decorator to design their homes to their personal taste.
There are lots of people who would want to pay to get a dose of your wealth of experience and wisdom to get their life on the right track. You can become a life coach, business coach, or relationship coach. You can equally focus on the mindset and motivation. Whatever works for you, that’s where you can achieve success. However, we recommend getting certified to make your clients recognize how much of a professional you are.
If you are a perfectionist at heart, there are thousands of people out there, who don’t know how to organize their homes or their workspace (#me inclusive) This is a unique service that has grown tremendously in the past few years. Therefore, you can build a thriving business, helping others organize their homes and offices. However, you must make sure you’ve got the strength to handle hauling junks out of someone’s closet.
Read more: Make your money goals in retirement a reality
Back to work
Who says you have to stop working because you are in retirement? There are fascinating opportunities out there for older job seekers, which allows you to build a successful business in retirement. Check out websites like RetireeWorkforce, YourEncore, Workforce50.com, Seniors4Hire (for older scientists, engineers, and product developers) and Retired Brains.
Researcher and Tester
For earning a small income from time to time, you can try participating in surveys and focus groups. Companies are ready to pay for your feedback and opinion about their new products and improvements. However, bear in mind that this is okay for making a quick buck but isn’t sustainable for building a business in retirement. However, you might also need to have a smartphone or computer and internet access to get started. Here are some options to get started:
- Online surveys – SurveyJunkie, Pinecone, Survey Spot, Opinion Outpost
- Focus Groups – com, Focus Group, Global Strategy Group, SIS International, and Focus Groups.
- Mystery Shopping: Market Force, Best Mark, Experience Exchange, Sinclair Customer Metrics, and Mystery Shopper Providers Association.
- App/ Website Testing – Analysia. Whatusersdo, UserTest, com, UserFeel, and Startuplif.
You can always make money in retirement and eliminate the worry of never having enough. A good number of these businesses can even be started as a side hustle long before retirement or after you’ve reached the age. Need more insights about starting any of these businesses; don’t hesitate to place a comment below.