Extra Income Ideas for Retirees

Extra Income Ideas for Retirees

No matter what age you decide to retire, most people could always use a little extra cash. This is especially true if you’d like to spend your golden years traveling or enjoying your favorite activities. Wouldn’t it be nice if you didn’t have to live on a fixed income? It’s much easier to enjoy the finer things in life when you have a little more disposable income. Earning that income doesn’t have to be difficult, and it can be as flexible as you want it. Here are just a few ideas to help you get started.

Owning rental property

Owning rental properties can be a fairly passive source of income, depending on how you run it. If you prefer to make money that way, you can outsource all your duties. You can start out managing the properties yourself if you’d like a little more autonomy. And then perhaps hire a manager to oversee repairs and other tenant issues. But even if you decide to do the work yourself, it’s not a career you have to be tied to every day. Just keep people such as plumbers and handymen on speed dial in case a tenant calls with an urgent complaint. Also, always use a tenant screening service to make sure you’re getting quality renters. This is one of the best ways to make your job easier.

Tutoring

If you’re a retired teacher or just someone skilled in a certain subject, tutoring might be the ideal side job for you. You can advertise your services locally. Or you can apply to one of many tutoring websites. There are also quite a few places you can go to teach ESL for just a few months at a time. The pay is great, and you can schedule sessions around your available hours.

Online selling

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If you’ve accumulated a lot of unused items, you can unload them for cash online. Larger items are best sold on Craigslist or Facebook selling pages. And eBay is a great place to list almost everything else. But you don’t have to stop after you’ve sold all your unwanted items. You can make a side job out of it by picking up products on clearance or at thrift stores and estate sales.

Workamping

Workamping is a relatively new term for travelers who earn their keep or extra cash by doing various jobs in different locations. For example, you might take a job as a camp counselor for the summer in exchange for room and board along with a small salary. Or you might get hired to do minor maintenance for an RV park in exchange for a parking space. There are almost too many of these jobs to list. But some common ones include tour guide, Christmas tree sales, food service, landscaping, and ticket sales.

Baking

If you’ve got a knack for baking or decorating cakes, you can offer your services locally. Many people are making a living by advertising their goods on Facebook selling pages and groups. And your dishes don’t necessarily have to be fancy. Around the holidays, especially, many busy people are just looking for a little help with sides and desserts.

Owning a business

Many retirees find not working unbearable. But instead of jumping back into the workforce, you might consider opening your own business instead. You can run a business that requires little startup capital, such as a service. Or you can open a brick-and-mortar store that gives you a place to go every day. Some examples might include a liquor store, bakery, antique shop, or consignment store.

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