How To Keep Busy And Make Money In Your Retirement
In fact, many people choose to start up new businesses or try something entirely different when it comes to making some extra retirement cash. You may not need to work if your investments are paying dividends, but it could be that you want to… a relaxing retirement isn’t for everyone. If that’s the case, then making some money while you keep busy is a definite bonus! Here are some ideas about making money and keeping active during your retirement years.
Airbnb
You can rent just a room, or your entire home (ideal if you are planning to travel for a few months) from a night to much longer. If your city happens to be hosting a big event, that’s even better – the hotels will be full and people will be looking for somewhere else to stay.
Become A Property Developer
You could invest it in a property. Buy something that needs some work, do it up, and sell it on for a profit. If you need help getting the down payment or you’re thinking that a bridging loan might be the answer hard money lenders. Depending on what the current property market is like where you live, you can really make a good profit on developing run down properties. Alternatively, you can buy cheap, add some value, and then rent them out for an ongoing income. When you want a cash injection, you can sell the houses or apartments on then.
Photography
Photography gets you out of the house, keeps you active and, if you join a local photography group, you can even make new friends. There are ample opportunities to sell your photos online, or why not get together with like-minded artists and hold an exhibition? If you are a painter, sculptor, or you make any other kind of art, you could do the same thing. Market it with local press and online and with any luck you’ll sell out. Even if you don’t, it will have been a lot of fun to arrange.
Become A Tutor
By the time you reach retirement age, you will have accumulated a huge range of knowledge. Why not use that knowledge and help other people out, making money at the same time? You could become a freelance tutor. Creating lesson plans should be done in advance so that you start completely prepared. Set homework as well and your clients will feel as though they are really getting their money’s worth. Remember that it’s easier to become a tutor for adults, as there are more regulations needed for teaching children.
Mystery Shopping
If you’re going to the store anyway, why not get paid to do it? There are companies out there that will do just that – they will pay you to shop and give them honest feedback about the store, the employees, and the products. Beware, there are some scams online that say they want to employ mystery shoppers and never actually pay. If this idea appeals to you, check that the company you are contacting is legitimate and a member of the Mystery Shopper Providers Association.
Writing
Writing is an excellent way to keep your brain active, and is perfect for those who may not be able to leave the house as much as they would like due to illness or disability (or because they just prefer their own company!). Join an online writing group to get ideas, and start typing away. There are no hard and fast rules when it comes to writing fiction – just do what you feel. Once you’ve written your story and either edited it yourself or sent it to someone to edit for you, you can try your luck with agents and publishers, competitions, magazines, and more. Remember, though, even if you don’t get published, it’s the act of writing that is the fun part.
Rent A Parking Space
Do you live close to a station, or shopping mall? Is parking at a premium where you are? Do you have a spare parking space on your driveway? If so, you could make a nice amount of extra money by renting it out. You can sign up online to advertise your space and set your own amount of rent.
Dog Boarding
If you are an animal lover and you have a nice amount of space and are active, you might want to consider dog boarding in your home. Some people don’t like the idea of leaving their dog in a kennels when they go away, but they don’t have any friends or family who could take them in either. If you offer a service that means those dogs can stay in your home with you, you could be filling a gap in the market (always a great way to make money!). You will need to walk the dogs daily and they will need space to move about in. You will also need to limit the number of dogs you can take in, so there is a lot of planning that needs to be done first. When it is ready, though, this can be the perfect business. As a side business, you could also offer dog walking, without taking the dogs into your home. Many people are busy, or unable to walk their dogs themselves, and they will certainly pay you if you can do it for them.
