Earn Extra Money During Retirement - Tips for Earning When You are Barely Scraping By

Retirement is often seen as a well-deserved break from the daily grind, a time to relax, travel, and enjoy the fruits of your labor. However, for many retirees, financial concerns can cast a shadow over this period of life. The good news is that there are various ways to earn extra money during retirement, allowing you to supplement your income, pursue your passions, and maintain your financial independence. Let's explore some creative and practical ways to earn extra income during your retirement years.

Part-Time Work

One of the most straightforward ways to boost your income during retirement is by taking on part-time work. Many retirees find fulfilling roles in areas like retail, customer service, consulting, or tutoring. You can leverage your decades of experience and expertise to land positions that suit your interests and availability.  

If you decide on working part-time with the public, such as working in retail, it could also help you postpone dementia!  Research shows that expanding the amount of time you spend socializing has a positive effect on our brain health.

On the other hand, if you want to stay close to home for health or other reasons, it is possible to earn extra money doing things such as tutoring online.  If you have experience teaching math, reading or other skills, this could be an excellent way to increase your income safely from home, and work your own hours.  Just promote your new business through friends, flyers, a website, or local sites like Nextdoor.  

Freelancing and Consulting

If you have specialized skills or knowledge in your field, consider freelancing or consulting. Platforms like Upwork, Freelancer, or Fiverr can connect you with clients seeking your skills. This allows you to work on projects at your own pace while earning extra income.  Many people turn to these sites to get help with projects they are unable to complete on their own.  As a result, if you are good at graphic art, setting up webpages, or have other computer skills, you may find you can earn a nice extra income through these sites.

Another way you can profit from freelancing is to write your own book and upload it to the free website called CreateSpace.  This is an Amazon affiliated company which allows writers to create their own books, and list them for sale on Amazon.  You determine the sales price and the amount of profit you will earn from a sale.  I have several books listed on Amazon, including my most popular book, "Your Guide to a Fabulous Las Vegas Wedding." (Ad)  I wrote it after several friends and family members were married in Las Vegas, and a number of people asked me questions about it. You can write fiction or non-fiction, and it costs you nothing upfront to have your book published on demand.  Amazon takes a portion to cover their printing costs, and you keep the profit. 

Rent Out Your Space

If you have extra space in your home, consider renting it out through platforms such as Airbnb. This can be a profitable way to use your home and earn extra cash without a major commitment.

However, do not just limit yourself to renting out your house. If you do not want to deal with having strangers in your home, consider renting out space in your garage, shed or basement for storage. Many people would love a place to store an extra car, use as an artist's studio, or for similar purposes.

Pursue Your Hobbies

Learn more at deborahdiangifts.etsy.com (Ad)

Retirement is an excellent time to focus on your passions and hobbies. Whether it's photography, painting, crafting, or gardening, you can turn your hobbies into profitable ventures. You can sell your creations online through platforms like Etsy or teach workshops and classes in your community.  This is an excellent way to sell your home crafts, including artwork, knitting, or woodworking.

It is easier to earn money on these platforms than you think.  For example, the writer of this blog also has an Etsy store and, within a few months, started making regular sales.  My shop is deborahdiangifts.etsy.com (Ad) where I design and sell a variety of gift items, including jewelry, t-shirts, mugs and more.  I don't even have to make or ship the items myself.  I simply design them on the website of a dropshipping company which will make the products on demand, after they are ordered, and ship them to the buyers.  It is a fun way to use your artistic talents to earn extra money.  

Online Content Creation

The digital age offers countless opportunities for content creation. If you're tech-savvy and enjoy writing, blogging, making videos on YouTube, or even starting a podcast, you can generate income through ads, sponsorships, and merchandise sales.  If you like to write or create content, and you are passionate about a topic, you may be able to earn extra money in this way.

Share Your Knowledge

Your wealth of life experiences can be valuable to others. Consider offering coaching, mentoring, or life advice services. Many people are willing to pay for guidance from those who have navigated similar life challenges.

Invest Wisely

While not an immediate source of income, investing wisely can yield returns that supplement your retirement income. Consult with a financial advisor to create an investment strategy tailored to your needs and risk tolerance.  Try not to use your retirement savings, or even live on the income it produces, for as long as possible.  You want to use the power of compounding to increase your future income as much as possible, so you have it when you really need it. 

Online Surveys, Market Research and Online Games

Completing online surveys and market research can provide a small but consistent source of income. Many companies pay for your opinions on various products and services.  In addition, downloading free apps like Solitaire Cash and Bingo Cash can make it possible for you to win money which is paid to you securely through PayPal, Apple Pay, or directly into your bank account.  (However, in the interest of safety, I recommend that you not give them your bank account information until you are comfortable with these apps and their security. In addition, never sign up for a site that charges you to participate.)

Pet Sitting or Dog Walking

If you love animals, then pet sitting or dog walking can be a delightful way to earn extra income. Websites like Rover and Wag! can connect you with pet owners in your area.  Check with the Small Business Administration in your area to make sure you are following all the necessary legal requirements. 

Sell Unwanted Items

Decluttering your home not only creates a more comfortable living space but can also help you earn extra money. Sell unwanted items through garage sales, online marketplaces like eBay, or local classifieds.  If you have spent years accumulating more items in your home than you will ever use, retirement is a good time to begin to let go of some of them.  It will simplify your life and could help earn you some money.

See If You Qualify for Public Assistance

If you are really struggling financially, you may also qualify for some types of public assistance.  For example, you might be able to get SSI (Supplemental Security Income), if your Social Security benefits are extremely low. You might also be eligible for SNAP (food stamps) or housing vouchers.  If you are not old enough, yet, for Medicare, you may be eligible for a low cost medical insurance plan through the Affordable Care Act (Obamacare).  If you are struggling to buy food and pay for your other expenses, find out about the food banks in your area.  They could help you stretch your food dollars much further. 

Conclusion

By exploring these creative ways to supplement your income, you can continue to live comfortably and pursue your dreams during your retirement years. Remember, the key is to find a balance that allows you to enjoy both your newfound freedom and financial stability. So, go ahead and explore the opportunities that suit your interests and skills, and unlock the potential for a fulfilling and financially secure retirement.

Order from DeborahDianGifts.etsy.com 

As mentioned above, I have set up an Etsy store as a fun way to help others and supplement my own retirement income.  One example is the lovely anniversary necklace you can see shown here.

You can even have the custom message on the card inside the gift box personalized with whatever message you would like to share with a loved one.  Just let me know what you would like it to say.  I also carry a beautiful line of affordable engraved jewelry in my shop.

 You can check it all out at:

  DeborahDianGifts.etsy.com (Ad)

You will find a wide selection of lovely jewelry, including items which can be engraved with a special name, date or short slogan.

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If you are interested in learning more about retirement, Medicare, Social Security, common medical issues as we age, financial planning, where to retire and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional helpful articles.

Disclosure: This blog may contain affiliate links. If you decide to make a purchase from an Amazon ad, I'll make a small commission to support this blog, at no extra cost to you.

You are reading from the blog: http://www.baby-boomer-retirement.com

Photo credit: Pixabay and Etsy.com

Awesome Work-From-Home Jobs

One way to earn extra money is to sell your best photos.

A large number of Americans have discovered that it is absolutely essential they work after they have begun to collect their Social Security. It is simply not possible for many retirees to survive without supplementing their Social Security income. However, they may not have the energy and stamina to work full-time outside the home like they did when they were younger. The question becomes, what can they do to earn a little extra money from home?

Many retirees and younger adults have been pleased to discover there are a variety of ways they can supplement their income, regardless of their age, even if they find it difficult to get out.  For example, you can sign up on sites like AirTasker to help people in your community with different tasks such as house cleaning, assembling furniture, gardening or handyman services.  However, this is just the beginning of the ways you can earn extra money during retirement. 

As a result, I have invited guest blogger, Good Nellie, to share her very useful list of work-from-home jobs.  Not all of these ideas will appeal to everyone.  Many of them require some knowledge of how to use a computer; a few require no computer use at all.  However, even if just one or two of these ideas works for you, the extra money could make your retirement more comfortable.  Below is the guest post from Good Nellie. Most of the suggestions have one resource where you can find additional information about how to pursue that possibility.  You may also find other ideas online.

10 Awesome Work-from-Home Jobs for Retired Persons

Working after retirement needs to be something which brings you pleasure, rather than causing you to be stressed out. Many people have discovered they need to earn extra money for a better lifestyle or to repay some of their debts, but they still want to enjoy their later years.

Whatever your situation, there are ways you can earn money by working from the comfort of your home.

So, does it mean you will only be able to earn a small amount?  No, in some cases you can earn quite a significant amount in your golden years by working from home, depending on the time you put into it.

Before discussing ways to make money after retirement, first let's look at the advantages of working after retirement.

●      Undoubtedly, you can work towards financial stability and paying off debt, if any.

●      You can take advantage of the increased Social Security benefits you will receive, especially if this helps you postpone collecting your benefits until the age of 70.

●      People working after retirement may stay more active and more socially connected, which can result in better health.

●      You can choose to work part-time and enjoy your leisure time instead of working full-time.

●      You can explore new fields (which do not require specialization and extensive education) which you may have always wanted to try.

But, the question is, what are some of the ways senior citizens can earn money from home? Let us find out.

10 Work from home ideas for retired people

1.     Being a tutor

One of the best ways to make money after retirement is to use your lifelong experience to earn extra income. If you like teaching from the comfort of your home, consider becoming an online tutor.

You will be able to guide students of all ages, review materials, etc. Moreover, teacher certifications are not necessary. Think about how satisfying it will be if you help someone learn a subject.

Reference: Online Tutoring Jobs

2. Enjoy professional blogging

This is one enjoyable way to make money online. Share to your heart’s content on any topic which interests you with your readers. You never know, your blog might become one of the popular ones (such as this blog: baby-boomer-retirement.com.)

And, if your blog becomes a popular one, you can easily have a steady income from the advertising revenue on it. It is not too difficult to earn a couple of hundred dollars a month by working flexible hours from the comfort of your home. Not too bad, right?

Reference: How to Start a Blog

3. Become an online juror

Have you been a fan of detective stories and you love analyzing situations? Have you ever thought this could help you earn money?

Yes, you can use your analytical mind to serve as a mock juror online. All you have to do is be analytical and enjoy processing large amounts of evidence and give your opinion.

Reference: Becoming an online juror

4. Reviewing a website

If you’ve always loved to analyze things critically, you can become a website tester. By becoming one, you will review websites and analyze them critically.

It is one of the best ways to get income in retirement since you don’t need to have any specialized knowledge. You will review a website just as a normal person might.

You simply have to browse through the websites and share your experience so the websites can be made user-friendly.

Reference: Earn Money byReviewing a Website

5. Being a search engine evaluator

This is somewhat similar to the last money-making idea. You can make money online by being a search engine evaluator.

To do this, you have to browse through certain topics in various search engines and report errors so that the technical persons can fix them.

Reference: Be a Search Engine Evaluator

6. Organizing your photos and selling them

You may have lots of photographs on your phone or computer. Now is the time to organize them and pick out the very best ones.

There are websites for stock photos where you can sell your photographs and earn a decent amount of money when other people purchase them to use on their blogs or articles.

This may also be a fun opportunity for baby boomers to roam around, click pictures, and earn money.

Reference: Sell Photographs Online

7. Earn by doing paid searches

There are companies which employ people to do paid searches. When you do, you earn points that you can redeem for a gift or even cash.

Though you can’t make a large amount of money, it is not a bad option for a side gig.

Reference:  Top 14 Legitimate Sites That Pay for Searching the Web

8. Taking advantage of knowing multiple languages

Do you love different languages? Now is the time to use that to your benefit. Become an online translator and earn extra income.

Frequently, your work will be conducted by phone or video.

When doing so, you can also nurture your love for that language. There are several companies which hire translators.  One is listed below.  You may also find an opportunity to tutor or teach a second language in your community.

Reference: Professional Translations

9. Renting the unused space in your home

You may even earn money without doing anything. How is it possible? Simply rent out any unused portions of your home to someone who needs storage space or who wants to rent a bedroom in your house.

You may even rent out your unused garage. When you are retired, you may be able to manage with only one vehicle.  If so, you can rent your extra garage space.  Advertise in your local newspaper or let your neighbors know you would be willing to rent out your garage.  They may have an extra car or a bunch of boxes they would love to store in your garage.

If you live in an area where basements are common, you may also find you can rent out a part of your basement to store boxes or furniture for someone else.  You earn extra money without the need to do anything.

10. Become a brand advocate for a company

It sounds lucrative to be a brand advocate of an organization, doesn't it? Yes, life may truly start at sixty!

You can become an online brand advocate for a product or a brand and answer online queries about that product.

You will have to know the products well so you can offer advice and recommend them to the target customers.  This could be a great opportunity if you have retired from a large company, but would still like to earn a little extra income by advocating for the products you know so much about.

It will help you if you have been loyal to a brand and its particular products. You will enjoy the job even more.

Reference:  What is Brand Advocacy?

Not only are these ideas great retirement income streams, but you may also being doing something noble. Imagine how many people you could be helping out with your knowledge and experience.

The average pay for the above retirement jobs begins at about $10 per hour. However, it can go up to $22 per hour or more, depending on the type of work and your experience. In addition, the more time you devote, the greater your opportunity to earn more.

When you are searching for how to make money at age 60 or older, you may not want to only search for work-from-home opportunities.  If your health permits you to work outside your home and you enjoy that, then you should also look for part-time opportunities in the community, working in local shops or part-time for neighborhood businesses. However, if possible, do not opt for a stressful job; this is the time to enjoy life. Do not just focus on the money. Do whatever you like to do.

So, go ahead… Enjoy your golden years, earn a decent amount, and have a great lifestyle!

Author Bio:

Good Nelly analyzes financial happenings and writes articles to help her readers plan for their financial future. She has been associated with Debt Consolidation Care for a long time. However, she has contributed articles to other websites, too.

If you are interested in more ideas about financing your retirement, where to retire, common health issues, Social Security, Medicare and more, use the tabs or pull-down menu at the top of the page to find links to hundreds of additional helpful articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo credit:  author

Ten Ways to Make Money After Retirement

If you are worried about the need to increase your retirement income, one solution is to continue to earn money well after you have stopped working at your current job.  However, many people are unsure of the best way they can make money after retirement.

A number of the "officially" retired people I know are continuing to supplement their retirement income by working at a variety of part-time jobs.   Listed below are ten common ways to supplement your retirement income.

Where to Work after Retirement

1.  Continue your current career from home and work fewer hours.  This is the most common retirement career choice for many of the people I know.  A number of my friends have continued to earn money for years after their official retirement by working as substitute teachers, neighborhood Realtors, bookkeepers for small businesses and insurance agents.

2.  Work as a consultant for firms in your former industry.  Two petroleum engineers I know have chosen this route, which has allowed them to work from home.  They earn a high income while keeping their own hours.  They only take on as many projects as they can comfortably handle, so the work is less stressful.

3.  Keep your former job, but work fewer hours.  Many people decide to job share or work part-time for their former employer.  They find this can be a pleasurable way to earn money, stay in touch with co-workers and feel productive well into their late 60's or 70's.  They often discover that their job is less stressful when they work fewer hours, and they do not have to go through the process of finding a new employer or learning new skills.  This is a common choice for people who have worked for retail stores, restaurants, and similar jobs.

4.  Provide services to other senior citizens.  A large number of retirees are discovering that they have skills that could benefit other seniors.  They charge an hourly fee to help run errands for other seniors, drive them to appointments, complete their tax returns, handle their bills (especially complicated medical bills), organize their family photographs into albums, or assist them in writing a family biography.  Many seniors are willing to pay in order to have someone else help them with these chores.

5.  Teach a class.  Several seniors in my retirement community charge a small fee to lead yoga classes, give guitar lessons, or teach their peers how to use a computer.  The teachers often enjoy the interaction as much as their students.

6.  Become a bonded babysitter.  When we took our grandchildren on a trip to Palm Springs, we hired a sitter from a local babysitting agency to care for the kids while we went out to dinner one evening.  The woman was in her late 60's, and our grandchildren loved the fun activities she brought with her to keep them busy.  She told me she only babysits on Friday and Saturday evenings, and she enjoys the extra money she earns.  Depending on how many hours you want to work, you could earn several hundred dollars a month.

7.  Work for your local school district as a crossing guard.  According to the Bureau of Labor Statistics, about one-third of crossing guards across the nation are over the age of 65.

8.  Apply for a job at your local senior center or retirement community.  Many of the employees of our local senior center and retirement community are residents who also live here.  Office workers, gate guards, receptionists and many other people who keep our community operating are, for the most part, over the age of 65.

9.  Try that little job that always interested you.  One former stockbroker we know went to work in a health food store after retirement.  Someone else went to work as a part-time receptionist in an art museum.  Several acquaintances of ours are working in gift shops, antique stores and art galleries.  Most of these people had intense jobs when they were younger, but always wanted to have a "fun" job that interested them in their later years.  There is no time like the present to take on an interesting little job that will enrich your life.  Earning an extra $500 to $800 a month can make a huge difference in the life of someone who is living on very little other than their Social Security benefits.

10.  Get creative!  One former Realtor we know is earning extra money on a regular basis by selling her paintings.  She is a prolific and talented artist who now sells her work at a number of Southern California art festivals throughout the year.  She loves being able to paint and earn extra money at the same time.  Other individuals, like myself, earn extra income by writing online articles or e-books.  I know women who sell their quilts and there are men in our community who build cabinets for people to use on their patios or in their garages.  All of these endeavors are a wonderful way to release that pent-up creativity and earn extra retirement money at the same time.

There is another advantage to earning extra money after retirement.  Since many retired workers will continue to pay into Social Security, depending on the amount they earn, their monthly Social Security benefits will be re-evaluated each year.  In some cases, their monthly benefits will be increased, especially if they have fewer than 35 earning years on their record.  This means that the extra money they earn in their 60's and early 70's can pay a small dividend for the rest of their lives. 

With so many employment opportunities for healthy, active senior citizens, there is no need to suffer quietly in poverty simply because you are no longer physically up to the demands of a stressful full time career.  With a little creativity, there are many ways you can supplement your income and increase your financial security as you grow older.

Looking for more financial or retirement ideas?  Use the tabs or the pull down menu at the top of this article to find links to hundreds of additional articles.

You may also be interested in reading:

Do You Need a Million Dollars to Retire?
Cheap Places to Retire
Best Places to Retire on $40,000 a Year
Why Some Seniors are Choosing Cohabitation

You are reading from the blog: http://www.baby-boomer-retirement.com

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