Many people see retirement as a time of relaxation and leisure, but the truth is that it can be an intense experience. You have to come to terms with no longer having a steady paycheck, making you feel like your life is over, especially if you didn’t do your homework before retirement. However, there’s nothing to worry about because there are ways to make some extra cash after retirement without giving up all your free time.
Here are a few easy-to-do tasks that will help you make extra money after retirement.
#1 Learn how to trade and invest in the stock market
They say the best time to plant a tree was 20 years ago, and this rings true for investing as well. However, even if you’re already retired and didn’t start investing early on, the second-best time to invest is now. It’s a great way to make the money you already have grow even further, and it can also be a good source of passive income.
Many seniors fear that their savings will not last for the rest of their lives, but one way around this is by investing them in stocks. This will mean getting paid dividends regularly, which will help build up your savings even more.
Another more exciting way to make your money work for you is by learning how to trade in the stock market, Forex or even in crypto. Many people are reluctant to do this because they feel like it’s too risky, but it can be a great way to make some serious money on the side. Having said that, here are some tips to get you started:
- Start by educating yourself and learning all you can about trading and about how the stock market works.
- Find a good online broker that charges low fees (or no fees at all), doesn’t require a high minimum initial deposit and provides plenty of assets and financial instruments for you to trade.
- Start practicing with a demo account to get acquainted with the trading platform and all the different types of orders you can make.
- Seek recommendations from an experienced trader before taking too many risks. The best way to do this is by signing up for a good investment newsletter.
#2 Try your luck with blogging
If you’re in the mood to change your life just a little bit, starting a blog might be just what you need. It’s a low-stress and low-cost way to start earning some extra income after retirement, and it doesn’t take much time either. You can choose one of many different platforms including WordPress, Wix or Blogger, just to name a few. Once you have a good reader base, you can monetize your blog by joining affiliate programs, selling ads, or publishing sponsored content. You can even sell merchandise related to the general topic of your blog.
If you’re having trouble thinking about potential topics, here are some ideas to get you started:
- Create a blog where you share your knowledge, thoughts and experiences from before retirement with others who are nearing retirement or who have already retired.
- Blog about anything that interests you – from food and gardening to books and art – as long as there is a decent audience for it out there.
- Choose a topic that matches up with your skillset or background so that it will be easier to monetize.
#3 Proofreading can be a gold mine
It can be hard to find a work-from-home, low-stress job that pays well. Luckily, there are plenty of options! One of the best ways to make that extra cash is by doing proofreading, which you can do from anywhere. It’s not very demanding physically or mentally because you will be checking other people’s work for mistakes and typos.
You might not believe it at first, but it’s very rewarding once you start getting into it. You will feel like a professional who other people rely on – and the money isn’t bad either.
Although this type of job seems like something only for those with a keen eye while they read, you’ll be happy to know that anyone can become a competent and successful proofreader with a bit of practice. You can even find online proofreading courses that will teach you everything from getting started finding proofreading jobs.
#4 Babysitting seems too intense? Try pet sitting instead
Children can be a handful, and it’s safe to say that taking care of other people’s kids isn’t for everyone. Pets, on the other hand, especially cats and dogs, are usually much easier to handle.
If you love animals and want to keep yourself busy during retirement (and make a little money on the side), pet sitting might be perfect for you! There are many different jobs to work with cats, dogs and other pets, including daycare, boarding services and pet sitting.
Pet sitting is typically more low-key than other types of jobs. However, it does require that you take care of the pet’s needs (feeding, playing, administering medication if needed, walking, etc.) for certain days or hours every day.
Boarding services usually come with more responsibility; you’ll be there to take care of your client’s pets 24/7 and make sure they’re happy and well-taken care of. However, as long as you enjoy spending time with dogs (and perhaps cats too!), there’s nothing better than pet sitting.
#5 Rent out your tools
Some people love having their own tools and buy plenty of them during their lifetime. But once they reach a certain age, they end up using them less and less as time goes by. If you’re retired and want to make some extra money, you can rent out your tools to those who need them.
You can make a profit by charging for the use of your equipment like hammers, wrenches and power tools. This way, you’ll be helping other people effortlessly, and you’ll get even more value from the investment you made when you purchased the tools.
#6 Fill out online surveys
Another easy way to make extra money after retirement is by filling out online surveys. These surveys help organizations and companies understand their consumers better and reach their target audience. If you’re retired, this is precisely what you’re looking for.
The best part about these surveys is that you can do them in your own time! You don’t need to be at home or in front of a computer during certain hours of the day, just when it’s convenient for you.
Another benefit about these surveys is that they don’t require much skill and tend to pay better than other methods of generating income in retirement. On average, if you complete an online survey and answer all the questions, you can earn $1-$20 per survey (although you’ll more likely make $1-$5), so by filling out several during the day, you can make quite a lot of extra cash this way.
#7 Work as a movie extra
Picture your grandchild telling their friends, “my grandparents can’t pick me up today because they’re busy working in the next Avengers sequel.” This could become a reality if you choose to make money during your retirement by becoming a movie extra. All it takes is getting a high-quality headshot, filling out a form and signing with a casting agency, and you could be an actor within minutes. If you’ve always wanted to be in front of the camera, this is your golden opportunity.
The casting for extras generally happens shortly before filming, and, unlike other acting jobs, there won’t be any high expectations for skills or experience since all you need to do is look like your typical retiree. You won’t even have to audition, so it’s fairly easy to get parts. You’ll have a great time learning how films are made and what goes on behind the scenes, and you’ll be able to tick off an item on your bucket list if you happen to land a role as an extra in a movie that stars your favorite Hollywood actor.
#8 Become a freelance writer or editor
If you have a background in writing or editing, freelancing might be the perfect way to earn more than a little extra income in retirement.
As a freelance writer or editor, you can work on your hours in any location of your choosing. The best part is that thanks to the digital publishing industry, there’s always more work than qualified writers and editors available. That means that all it takes to find clients and get started is making a great profile and uploading it to platforms like Upwork, LinkedIn ProFinder, Workana or Fiverr.
#9 Rent out your house or apartment on Airbnb
If you’re retired and looking for something to fill your time with, Airbnb might be the perfect way to do so. You can enjoy your home while making money at the same time! It’s a win-win situation.
Airbnb is one of the best ways to earn extra income in retirement because it only takes a few minutes to create an account and start renting out your property. You get to choose who visits your home (barring certain reservations such as family members) and get paid straight away. And if you don’t want to stay at home while guests come and go, there are plenty of other things for you to do – like going on holiday or traveling around the world.
#10 Become a YouTuber
If you think YouTube is only for the newer generations, you’re completely wrong. People of all ages use the platform for everything from education, learning about the news, learning new skills or simply for entertainment. Creating a YouTube channel and monetizing it is an easy and fun way to use your time during retirement while making passive income on the side.
You can make videos teaching others the skills you’ve learned throughout your life or teaching complex subject matters that you dominate fluently (in which case you would become an edutuber). Another option is to simply talk about things you’re interested in or passionate about. Popular topics include travel, hobbies, pets, cooking recipes, and more.
The more popular your topic is (and the better you are at speaking), the more likely you will become successful in making money this way.
#11 Become a voice-over artist for audiobooks
If you’re passionate about reading and love books, you can turn this into a steady source of income during retirement by becoming a voice-over artist. All you need is to read clearly and fluently, but other than that, it doesn’t take any particular skills or experience. Just get yourself a good high-quality recorder, start recording yourself reading your favorite book, and voila! You’re a voice-over artist.
There are audiobooks for all ages and levels of difficulty, so there should be no shortage of work for you to find. If anyone asks for a work sample or portfolio, you can just record yourself reading a passage from any book you choose, and you’re set.
The Bottom Line
Retirement is a time of change, but it doesn’t have to be an overwhelming experience. There are plenty of ways to make some extra money while still having enough time to travel, see new places, meet new people and enjoy life! It doesn´t matter if you choose new ventures such as drop shipping, blogging, copywriting or petsitting, or if you just prefer to spend your time playing online games on your new mobile device while prizes stack up; what’s important is that you can easily make ends meet during retirement without the stress that most normal jobs entail.