Retirement

Ways To Make Extra Money

The idea of working during retirement can be discouraging right? Well it is actually not compulsory for every retiree. Those who started early to prepare for retirement may not consider it as an option while those who didn’t save enough may see it as an opportunity to make extra money.

How to make more Income

Early retirement means many years to live as a senior citizen with strength and vigor. Personally, I think that anybody who retired early should find something that will boost their monthly income. It wouldn’t hurt at all to be making extra money by the side. Even if you don’t need it, you can also use it for charities and societal development.

old man facing his computer

As for those who were not prepared enough for retirement but have the strength to work as retirees, the gap can be covered if you continue to make extra money in retirement. You wouldn’t feel the burden of living on a meager monthly income but can enjoy all you desire in retirement.

The most important things to consider in making extra money are your health and job requirement. Whether we want it or not, human strength begins to diminish as one ages. Many organs begin to fail and those functioning well should be taken care of to avoid future failure. The good news is that, apart from working, there are other ways which retires can make extra money to boost their income.

So we are going to consider some easy jobs and simple things you can do as a retiree which will not take much energy and time depending on your strength. Always remember that human needs are never ending so if you can build a never-ending source of income, you are like to satisfy most.

1. Consultation – all your years of experience while working in a particular industry can be useful for offering consultation services at a price to the younger generation who are struggling to stand afloat.

2. Part time jobs – many employers will rather employ temporary workers on contract basis than full time employment with its demands. If you are still strong for the job, you can get one.

3. Tutoring – you can also undertake to teach children as a tutor. It can be on languages, exam preparation, test prep or drilling them on multiplication tables.

4. Skills and crafts marketing – what can you do that will make people’s life easy? If you can sew or get some craft jobs done, you will make extra money with ease.

5. Eldercare services – you may be old but there are still some older citizens that require more care and attention. You don’t need to do much. You can help them to eat, accompany them to keep their appointments and generally keep them company.

6. Blogging – this will serve as a way of expressing yourself, providing information and solutions to other people. You can do it from the comfort of your home and also earn extra money as well.

7. Babysitting – if you have the strength, you can take care of other people’s children for few hours every day and make extra money.

8. Pet sitting – if you love animals, you will get paid for taking care of someone’s pet as well as enjoying yourself doing what you love.

9. Gardening – you may be hired to start a garden for a family or even take care of an already existing one.

Apart from the above simple jobs you can do, there are several ways to make extra money as a retiree.

1. Space renting – if you are living in big cities that offer tourists attractions, you can rent out your extra rooms to tourists or even lease out your home when you travel for longer periods of time. You garage and basement can also be rented as storage space. Cool right?

2. Sell your stuff –  you may frown at this but there are heaps of clothes, books and furniture that are just gathering dust and occupying space in your home. You can get rid of them by holding a garage sale or using either Ebay or Craigslist.

3. Maximizing Social Security – if you are able to delay your claim on your Social Security benefits, you stand to gain more at 62 or 70 years due to the percentage increase each year.

4. Get a no fee credit card with benefits. Yes! Instead of just spending, you can get a card that offers some percentage cash back on your everyday purchases.

5. Utilize discounts. If you want to boost your income, you can as well cut down some costs by utilizing all the discounts available for senior citizens.

There are other ways to make extra money but you can start with these simple ones and as you go further, creativity will provide other attractive options. As you can see above, you don’t need much strength to do these things. So no matter the level of energy you have, you can chose to do one or two of these suggestions and make extra money during your retirement.

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