If you are thinking about life after retirement, you may be wondering how you will live on a fixed income for the next 20-30 years. Of course, one option is to continue to work, at least part time. But, for many people, this simply isn’t possible. So, today, I want to share an alternative suggestion with you. I want to explain how you can spend less and earn more in retirement by taking advantage of one of the oldest human behaviors – sharing.
The share economy holds a lot of benefits for older women who may have extra space and time, or a big collection of physical assets, but not a lot in the way of cash flow.
An article by Forbes magazine reveals that the share economy is a novel but reliable method of using resources because it relies on existing social networks, instead matching up needs with providers. That’s good news for the environment, as well as for people who want to make a little extra money.
For women over the age of 60, the share economy is good news! You have plenty of friends, family and social connections that you’ve developed and cultivated over a long lifetime.
You also might have a house or apartment full of useful items that you only use occasionally (or never), but you don’t want to see them going into a landfill or to a thrift store.
Following are six ways you can spend less and make more in retirement by participating in the share economy. While exploring the opportunities is good fun, always remember to protect yourself first and foremost. Never meet with anyone unless in public, and never send or give money to someone you haven’t met or whose product or service you haven’t seen. Be wise and you’ll prosper!
You’ve got the rest of your life to go on vacation… and you’re ready! But the hotel fees are so expensive. Fortunately, the share economy lets you rent cheaply from people who already live in your chosen area.
If you’re willing to watch over dogs, cats and plants, sites like housecarers.com connect people who are vacating their houses or apartments with others who wish to travel to the area. For a fraction of the price of a hotel, you can get to know a city over a span of a couple of weeks – or in some cases, a length of three or more months.
If you are interested in learning more about how to take advantage of house-sitting, check out my interview with Teresa Roberts.
Maybe you’ve got a vehicle, but it sits around most of the week. You use it occasionally, but otherwise you’re paying the insurance for nothing. Why not use a service like lyft.me and let someone else rent your car when you don’t need it?
Are you living in a nice house with extra rooms but don’t want to have a constant roommate? Why not start renting out one or two of your rooms?
Websites like airbnb.com can help you to find visitors to stay with you for a day, week or longer. Obviously, safety is always a primary concern with these kinds of services. That said, the good thing about airbnb is that it is “reputation based” and both the renters and landlords are rated.
Everyone knows someone who needs pet care. To make a little extra money, use networks like Dogvacay.com to source out others who need you to take care of their pooch overnight.
You’ll do a cheaper and better job than a kennel! Take this concept even further by offering your knitting services to friends and family who want homemade Christmas gifts. Get them to do your yard work as a trade!
You don’t have to buy new things and your own stuff doesn’t need to go unused. Explore the many options for swapping everything from bicycles to lawnmowers to bread machines. The environment and your pocketbook will thank you for your efforts.
If you have a set of wheels and a great sense of your city, why not offer tours to visitors? It’s a great way to stay active, make the most of your time, connect with others, and show people your hometown!
Use Vayable.com to connect with potential clients who will give you cash to show them around your favorite spots.
What’s your take on this? Have you found any other ways to use the share economy to your advantage? Has the share economy helped you to make more in retirement? Please join the discussion and “like” and share this article to keep the conversation going.
If you are looking for even more ideas for flexible jobs that you can do in your 60s, please watch my interview with Nancy Collamer.