Today I Learned...
- With some creativity and motivation - you can make extra cash during your retirement years
- Retirement is the time to be creative—and make extra money!
f you're looking for some creative ways to make extra income in retirement, you've come to the right place! Here are six fun ways to keep yourself busy with some extra cash on the side:
Freelance work is a great way to do something you love while making money at the same time. If you have some experience and know-how in an industry, there's no reason why you can't find some freelance work online or locally that will help support your retirement.
- The first step is researching what types of jobs are available in your area and how much they pay. This way, when someone hires you for an assignment, it won't be a shock when they tell you how much they'd like to compensate you for your services.
- Next, make sure that the job isn't too far beyond your scope of knowledge or expertise—it's easy to get into debt by taking on projects that are too difficult for someone who doesn't know what they're doing yet! Also remember that just because someone offers one hundred dollars per hour doesn't mean it's fair payment for what they're asking; again: research before committing yourself!
2. Start a business
If you are interested in starting a business, it's important to understand that there are many different types of businesses and each has its own requirements. You may be able to start a business by yourself, but some companies require more than one person.
Some things to think about before you start your own company include:
- Are you skilled in the area of your business? If not, how will you learn these skills?
- Do all of your research before beginning. The more information that is available about any given idea or venture, the better off everyone will be for it.
- Think about what kinds of goals and plans are realistic for this type of venture and how they would help achieve them (e.g., "By next year's conference I want my company's annual revenue growth rate at least triple what it was last year").
Learn more: Launch a Business with Your Skills.
3. Rent out a room
If you're retired and have extra room, renting out one of your rooms is a great way to bring in extra income while still enjoying the benefits of having your own space. You'll still have plenty of privacy, but you can also connect with new people and build new relationships.
The best part is that it's easy: all you need is an empty room (or two) in your house and an online listing service like Airbnb or Craigslist. You can also use Facebook Marketplace or Craigslist if those are more convenient for you.
4. Write a book
Writing a book is a great way to make money in retirement. You can write about your life experiences, or write about something you are passionate about. Once you have written the book, you can sell it online and make money on your books sales.
5. Teach others
Another great way to make money is by teaching. Bonus you can do it from the comfort of your own home - online! There are a number of sites that will pay you for your expertise if you know how to teach well and can make yourself understandable. You don't need any special qualifications or experience, just some knowledge and enthusiasm for your topic.
Once you've got your first few students and are making some money from it, see if you can expand into other areas. There are plenty of opportunities out there for teachers!
Learn more about teaching on GetSetUp. A learning platform where seniors teach seniors!
6. Sell your photos or videos online
You're already good at taking photos and videos, so why not make money from them? You can sell your photos and videos directly to people on a website like Etsy, or even use social media platforms like Youtube or Facebook to promote yourself. Or you can sell your images to stock websites! If you've got the equipment and know-how, consider making some online courses. You'll get paid for the time you spend putting together these courses, plus people will pay for access to it!
Learn more: Tips for Selling Your Photos Online
There are many ways to earn extra cash in retirement!
The best part is that these ideas are completely doable and easy to implement.