A few weeks ago, I asked the women in our community how they make money in retirement. Their answers were amazing and showed just how creative mxke generation has become when it comes to supplementing our income in the best years of our lives. I hope that you find them useful. Quick update… Since I wrote this article, I have added several new resources to Sixty and Me to help you make money from your passions. In addition to checking out the creative ideas below, I would encourage you to read the following article:. Earn cash hosting people from around the world when you rent out your extra space on Airbnb.
How to retire early
Your reasons for wanting to work may be to supplement your retirement income or because working enhances your life socially or emotionally. On the employer side, seniors can offer a deep reserve of perspective, emotional intelligence, skills and contacts — all things that retirees can emphasize when looking for a job. Make sure the line of work is compatible with your level of strength and fitness — dog walking requires strength and stamina, and grooming sometimes requires heavy lifting. Other duties related to animal caretaking may be feeding, watering, inspecting, cleaning cat litter box, cage or kennel , bathing or giving medicine. To market yourself, you can post flyers with your information at local pet stores and animal hospitals, and there are plenty of pet-care job marketplaces where you can create your profile, such as Rover , PetSitter , Fetch! A part-time tour guide position will allow you to share your knowledge with others and interact with locals and tourists. You can apply to various places for tour guide work, such as local museums and historical monuments. You can also research private tour companies in your city. Retirees travel a lot, touring the world or seeing their children and friends. Those who live in big cities heavy in tourism or vacation destinations can rent out their houses , extra rooms or guest houses to travelers on Airbnb or a vacation rental site such as HomeAway.
Animal caretaker
They use the rent they receive to pay their mortgage for the whole summer, if they have one, or use the income to help supplement their retirement. You can make extra income by not only renting out your living space, but also renting out your driveway using sharing platforms such as Rover Parking , JustPark , Parklee , Panda Parking , Pavemint and CurbFlip. If you have a much-coveted garage or additional storage space in your apartment, you can use the apps Roost and Spacer to rent out storage space. The money you can make from renting out space varies, depending on where you live and the demand in your community. Car sharing websites, such as Getaround , HyreCar and Turo , make it easy. These companies have different provisions, but Getaround will actually rent out your car, clean it and take care of it. Do some research on whether there is demand for storage, parking and rooms in your area. If you’re retired and looking for ways to make easy money in front of your computer, participating in focus groups and surveys may be a good option. Companies will pay you for your opinion and feedback, although the requirements and pay for the work really varies. Focus groups can pay up to a few hundred dollars for a few hours of your time, while surveys tend to take up less time and pay less. Here are a variety of ways for you to participate in market testing and research:.
How to Make Money in Retirement? Earn Money From Your Living Room
Do you want to make additional income in retirement? I have personally made thousands of dollars using the side-hustles below and have since coached thousands of students to do the same. These income thresholds are higher for married people filing jointly. Here are a diverse range of options, all of which you can enjoy from the comfort of your own couch! If you still live in the home where you raised your children and now find yourself with a spare room or two, rock that empty nest by renting out those rooms for some extra income. Sites like Airbnb and HomeAway do the heavy lifting for you by connecting you with interested renters. You decide what price to charge, what dates your room is available, and what rules renters need to follow. Freelancing marketplaces like Fiverr let you sell your services. Unsurprisingly, standard freelancing services like graphic design, writing, translation, and video editing are in high demand.
Tour guide
If you’re waiting for Medicare to kick in at 65, usually the most cost-effective option for health insurance — if available to you — is joining a working spouse’s employer-sponsored plan. Entrepreneur Media, Inc. Whether you get into a fender bender or come down with pneumonia, you’ll want to make sure that you have enough funds stashed away to cover the resulting costs without bankrupting yourself. This can take from an hour to all day.
2. Freelance
Two general marketplaces are eBay and Craigslist. A part-time tour guide position will allow you how to make money semi retired share your knowledge with others and interact with locals and tourists. This article was co-authored by our trained team of editors and researchers who validated it for accuracy and comprehensiveness. There are circumstances — involving disability or spousal relationships — when someone under 62 could collect SS benefits. No account yet? If you’re not careful, a bit of bad luck could completely wipe you. To some, retirement means relief from a lifetime of work and a chance for some much-needed relaxation. Image credit: Klaus Vedfelt Getty Images. Having big blocks of time off can break up the monotony of punching the clock and prevent boredom from setting in as a result of idleness. Tips It’s a good idea to give yourself at least years to begin preparing for semi-retirement before taking the plunge. This could be anything from developing an app to running a personal training business or handyman service. As early retiree Steve Adcock wrote on his blog Think, Save, Retire»Sacrifice is necessary to retire early, but it’s not all we do. He says the first step for any aspiring early retiree is to take inventory of their finances. Start with your current contacts and feel out whether they could use your guiding hand on projects or know of anyone who .
1. Rent spare rooms
Your reasons for wanting to work may be to supplement your retirement income or because working enhances your life socially or emotionally. On the employer side, seniors can offer a deep reserve of perspective, emotional intelligence, skills and contacts — all things that retirees can emphasize when looking for a job.
Make sure the line of work is compatible with your level of strength and fitness — dog walking requires strength and stamina, and grooming sometimes requires heavy lifting. Other duties related to animal caretaking may be feeding, watering, inspecting, cleaning cat litter box, cage or kennelbathing or giving medicine.
To market yourself, you can post flyers with your information at local pet stores and animal hospitals, and there are plenty of pet-care job marketplaces where you can create your profile, such as RoverPetSitterFetch! A part-time tour guide position will allow you to share your knowledge with others and interact with locals and tourists. You can apply to various places for tour guide work, such as local museums and historical monuments.
You can also research private tour companies in your city. Retirees travel a lot, touring the world or seeing their children and friends. Those who live in big cities heavy in tourism or vacation destinations can rent out their housesextra rooms or guest houses to travelers on Airbnb or a vacation rental site such as HomeAway. They use the rent they receive to pay their mortgage for the whole summer, if they have one, or use the income to help supplement their retirement.
You can make extra income by not only renting out your living space, but also renting out your driveway using sharing platforms such as Rover ParkingJustParkParkleePanda ParkingPavemint and CurbFlip. If you have a much-coveted garage or additional storage space in your apartment, you can use the apps Roost and Spacer to rent out storage space.
The money you can make from renting out space varies, depending on where you live and the demand in your community. Car sharing websites, such as GetaroundHyreCar and Turomake it easy. These companies have different provisions, but Getaround will actually rent out your car, clean it and take care of it. Do some research on whether there is demand for storage, parking and rooms in your area. If you’re retired and looking for ways to make easy money in front of your computer, participating in focus groups and surveys may be a good option.
Companies will pay you for your opinion and feedback, although the requirements and pay for the work really varies. Focus groups can pay up to a few hundred dollars for a few hours of your time, while surveys tend to take up less time and pay.
Here are a variety of ways for you to participate in market testing and research:. Some companies you can check out for this type of work are UserTesting. Become a mystery shopper: You get paid to secretly visit stores and report back your experience. The average U. Join a research study or focus group: Companies will pay you to sit in groups and answer consumer questions. This can take from an hour to all day. The pay varies. You have the experience, the maturity and the know-how, so register at a temp agency in your city for short-term projects, seasonal work or filling in for employees who are on vacation or maternity leave.
The work is mostly seasonal, depending on where you live. You can work for private clients or at botanical gardens or community garden programs, but the point is if you already have a green thumb and desire to work with plants, then this may be a perfect post-retirement job for you. Retirees can make extra money by helping working parents by babysitting. You can research the average rate in your area.
To kick off your job search, try searching online babysitting job marketplaces, such as Care. So, even if you think you don’t know anything worth teaching, you might be pleasantly surprised. To get started on teaching opportunities, check out your local community colleges, extension school or school for continuing education.
Also, you can take your teaching online to make some side cash. Create a class in your area of expertise e. This would require considerable work in the front end: recording video lectures, creating a class syllabus and coming up with assignments. However, once the work is done, you simply have to post your class and get a percentage of the sales.
Some online learning platforms to consider are Zeqr, Skillshare and Uscreen. Pay models vary, but typically you get a percentage of the sales combined with royalties calculated by minutes of your videos watched.
As a retiree, you have decades-worth of things you have accumulated — so sell. You could do it the old-fashioned way — by holding a garage sale or taking your clothing and handbags to local consignment stores or second-hand shops.
Books can be sold at a used bookstore. You can even sell your extra car to the local car dealership. However, you may be able to earn more if you go online to sell your possessions. Two general marketplaces are eBay and Craigslist. You can also go on Facebook and look for buying and selling marketplaces in your local area or try the Letgo app for buying and selling used items. Or if you have technology such as smartphones, cameras, computers you want to offload, try selling them to a platform such as Decluttr.
Online consignment offers introverts a great opportunity to make money through a completely virtual process. You will need a computer and a digital camera to take photos of your clothing. The rest is easy. Or you can tutor online. Virtual tutoring is a good way to work from the comfort of your own home. Virtual tutors use FaceTime, Skype, Google Hangouts and other technologies to communicate with students. Many tutoring companies offer convenient online training modules. Do a quick online search of tutoring wages in your area to manage your expectations and set your price.
Tutors in math all grades, as well as the math used on the SAT and ACT are always in high demandalong with physical science subjects physics, chemistry, earth science and English critical reading and reading comprehension for test takingwriting essays and ESL grammar, test preparation and English for Specific Purposes, e.
Check out the tutoring companies and marketplaces, including WyzantTutorRevolution Prep and Course Heroto get started. Another growing opportunity lies in teaching English to students abroad in countries such as China. You can get paid to help lawyers prepare for real cases by joining an online mock jury.
You may be asked to listen to audio, view video presentations, read material and answer questions. You can register on some websites that connect mock jurors with legal professionals looking for mock jurors who fit your criteria and locale. The screening process varies from company to company.
Why not capitalize on that and take on project-based consulting work? First, determine your area of expertise — it may be in multiple areas, but some common areas rich with independent consultant work include business development, marketing strategy, market research, talent sourcing and project management.
Start with your current contacts and feel out whether they could use your guiding hand on projects or know of anyone who. Gone are the days of bake sales, although you can check out local farmers markets to see what the requirements are to get a stand or part of a stand or sell to a local coffee shop or cafe. There are also websites that match people who love to cook with locals and tourists who are looking for home-cooked meals, such as EatwithFeastlyEat With a Local and Cookapp.
Rent a Grandma matches people looking for a nurturing and mature woman for home care services, including cooking. Also, the job can provide pocket money and a fun reason to get out of the house. To get started, you can search for open assignments on the Mystery Shopper Providers Association website and also search on general job sites, including GlassdoorFlexJobs and Monster. Also, beware of scams. Learn to Answer Objections.
This is an extremely detail-oriented job for people who have an affinity for the English language and a high standard of accuracy. Often, copy editors and proofreaders are expected to abide by certain writing style guides — the AP Stylebook or The Chicago Manual of Style are the go-to standards. The hourly wage for a web copy editor in the U. The median annual salary in the U. The industries you can work in as a copy editor or proofreader are varied: from print magazines to financial institution reports to web copy to nonprofit newsletters.
However, academic and medical written material tend to follow different guidelines, such as the AMA Manual of Style. You can fine-tune your copyediting and proofreading skills by taking an online copyediting course for certification at recognized online organizations, such as the American Society for EditingMediabistro or Poytner.
Create a profile on these sites. Typically, you can either apply for jobs available or your profile may attract potential clients.
Keep in mind, some places may ask you to take a short copyediting test to assess your skills. As a retiree, you can indulge in your dreams of becoming a movie or television star OK, extra. You can find this kind of work in your area by checking Craigslist for casting calls, or registering for free with a casting agency.
Two of the better-known background casting agencies are Central Casting and Backstage. Transcription work can be ideal for retirees with fast typing skills and who want a job that provides autonomy and control over the work schedule. To transcribe, you need accuracy on top of speed in typing. You generally get paid by how long the audio file is, not how long it takes you to type. You may want to invest in a foot pedal, which allows you to stop, rewind and fast forward the recording quickly.
Along those lines, you also need to be able to convert word processing files into whatever file format the client needs. Entrepreneur Media, Inc.
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People often think of retirement as a time of trading in the nine-to-five slog for a life of leisure, but these days many retirees want to earn extra money to boost their cash flow. One of the best ways to feel retired while earning extra income is to generate cash from your hobbies. With added effort and a measure of entrepreneurial spirit, you can turn pleasure into profit. How much you can earn depends on the amount of time you are willing to invest in marketing your services or products. Below are some examples of potentially profitable hobbies.
Animal caretaker
Many people’s hobbies involve collecting objects ; others enjoy creating things such as handmade cards, jewelry, pottery, and or other crafts. If you haven’t considered selling your treasures or wares in the past, now may be the time. If you have a collection of antique toys, record albums, or clothing that you no longer want, you can sell them on eBay to the highest bidder. Some entrepreneurial types turn their negotiating skills into an eBay business by buying low and selling high. If you have expertise in a particular area or simply want to gamble a bit on something like sports tickets, you can spend hours making bids and then reselling items on other websites. Another option for people with the storage space for books and CDs is to sell more than your own collection through Amazon. You can haunt flea markets and thrift stores for bargain-priced books and CDs, then resell. Just make sure you take into account shipping costs and the hassle factor of storing and sending the items. If you love to quilt, sew, or make jewelry or other crafts, Etsy.
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