5 Ways to Bring Home the Bacon in Retirement
The freedom of retirement doesn’t have to mean the end of making money. Plus, now is the time to cash in on things you actually enjoy doing!
Don’t think of earning money post-retirement as a job, but more so capitalizing on what you know you’re good at.
In addition to claiming every senior discount you can find to save money, do what you love to boost your income in retirement and bring home the bacon!
Here are a few options to explore:
Freelancing and Consulting
Translate your passions and career experience into a source of income by freelancing or consulting. Have you been playing music as a hobby your whole life? Consider giving lessons for money. Were you a career teacher? Why not tutor to bring in extra cash?
Technology makes it easy in retirement to tutor and consult from the convenience of your own home. Check out websites like TutorMe.com, Wyzant.com, and Chegg.com to find fast, online tutoring opportunities in a variety of subjects. And destinations like Upwork.com and Workingnomads.com can help you find online, remote freelance and part-time consulting opportunities, too!
Sell Your Stuff
Retirement paves the way for serious decluttering and cleaning of your home. Turn your long-lost finds into quick pocket money by selling them online or in-person. Hold a garage or yard sale (or head to the flea market) to offload larger items, clothes, kid and baby things you’ve been stashing for decades, old records, you name it!
Don’t want to go through the trouble of setting up and running a sale? Use websites like eBay.com and Craigslist.org to list your items for sale securely, and either mail them to buyers or have buyers pick them up. Check out the newest smartphone apps like Letgo.com or OfferUpnow.com that make it even easier to post items for sale and start negotiating.
Of course, always be aware of possible scams and practice good safety etiquette). And, for items you aren’t able to sell, consider donating them to a local charity re-store, Goodwill or Salvation Army and take a tax deduction.
Being a Nanny or Pet Sitter
Looking to make extra cash and get some exercise? Nothing keeps you young like chasing around kids or animals. Marry your love of caring for others with a potential revenue stream by becoming a nanny or pet sitter. The best part, soak up all those good feels you get from babies and puppies… then head home with no responsibilities!
Let your neighbors and family know you are interested in pet sitting, and give them easy ways to reach you (phone, email address) so when they are making vacation plans, they can rest assured their pets are covered. Websites like Care.com will help you apply for local child, senior and pet care positions online. Rover.com and Dogvacay.com make it easy to connect with families who need paid pet sitters.
Turn your green thumb into a little green in your wallet by growing and selling plants and flowers. Harvesting a productive spring vegetable garden? Take your leftover tomatoes, cucumbers and squash to the local farmer’s market to sell, or work with other local growers and community gardeners to sell together as a group.
Is your neighborhood hosting a community-wide yard sale? Break out the bulbs and potted flowers to sell to folks who want to plant their own flower gardens.
If you don’t have extra produce or flowers to offload for cash, consider selling your gardening services instead. Offer a small fee to neighbors, church members and other groups you might belong to in exchange for help planting their own gardens, landscaping, or tending/watering their plants while they are traveling.
Get a Rewards Credit Card
Planning on a few big trips or senior activities in retirement? Make those miles count by cashing in on everyday purchases that gain you points with a rewards credit card. You don’t simply stop spending in retirement – groceries, gas, bills – those expenses keep up even when work is over. Why not earn some cash back for your everyday spending?
Be smart about the type of rewards card you get, (i.e., if you know you’re going to travel often, look into credit cards that help you earn miles, or if you often shop online, find a credit card that focuses bigger rewards on online purchases. Don’t forget, credit cards come with a lot of fine print and often have annual fees, so do your research!
Get creative, do what you love and reap the rewards!
What are you waiting for? You’d be surprised by all the opportunities out there, but you won’t find them by waiting around.
Have you found creative ways to boost your income in retirement? What have you found most helpful in finding opportunities, online services and apps or word-of-mouth? Please share with others in the comments.