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6 Ways to Make a Side Income When Retired

May 11, 2018 | By Emma Frost

Retirement is supposed to be a time to relax and reconnect with hobbies and activities you may have had to put on hold for the sake of work. Now, all of a sudden, the possibilities are as endless as your leisure time. Whether this is your second chance at the life you’ve always wanted or the beginning of a whole new way of living all together, you should be enjoying every second of your retirement. While some are able to get by on their investments and Social Security, you may be looking for ways to supplement your retirement income. Find out how to turn your dreams into real income today with these 6 easy ways for seniors to earn extra income while making the most of their Golden Years!

Keep Working in Your Field

If you’ve had a long and rewarding career (or two), your pearls of wisdom could be worth some serious cash to the right individuals or organizations. From tutoring to contract work, there are tons of ways you can bank of your wealth of experience. The difference is, now you get to set the terms and conditions of your employment. You can register to tutor at your local college or community centers if you prefer more of a classroom setting, or work in more of a consulting or advising capacity. The best part is, this kind of work generally gives you plenty of freedom to set your hours and rate of compensation, so you get the income you need with terms that work for you.

Get Paid For Your Time and Experience

If you have time to spare and you’re a natural caretaker, babysitting, pet-sitting, or house-sitting might be the perfect opportunity to give yourself a change of pace while supplementing your income. If you’re crazy about kids and miss having little ones running around, or if you need to get out and get moving just as much as your neighbor’s dog, why not turn your passions into a payday? Your time and experience is valuable, so take advantage of ways to get paid for things that work with your schedule and your interests to start making extra money.

Use Your Car to Make Extra Cash

Do you still drive? If so, there are plenty of ways to make money off your car without selling it. If you and your driving skills are still as sharp as ever, Lift, Uber, and UberEats offer easy income opportunities that could be worth your while. You can even make some extra cash in mobile advertising by driving a rolling billboard. If you’re driving anyway, why not find ways to monetize it? It’s a nice way to break up your day and interact with the public. If you have car payments and you’re short on cash, it’s a good way to make money off your investment without using a installment loan.

Make Cash Off Your Extra Space

If you have extra space to spare in your house, don’t let it go to waste. Turn that extra room into cold hard cash instead. With AirB&B, you can start your own bed and breakfast and bank a little extra cash in your spare time with a minimum of overhead or investment. If you love having company and hospitality is in your nature, it’s a win-win situation. If you’re not about the hustle and bustle of having people coming and going all the time, renting an extra room to a single tenant could be a better option for turning a profit from the unused room in your home.

Turn a Life-long Hobby Into Cash

Finally, if you’re looking for a more artistic form of expression, you can turn one of your hobbies into a source of income. For example, if you’ve always enjoyed taking pictures, Shutterstock is a great place to sell your photography. You can also check out Indeed.com and put your writing skills to work making money as a blogger or online product reviewer. If arts and crafts are your expertise, Etsy is a great online resource for reaching a wide audience and turning your creations into cash. It doesn’t matter whether you crochet, embroider, or make prints - it is now possible to turn your part-time passion into extra cash without leaving your home. Start small and work your way up, or take out a signature loan to hit the ground running. Do your retirement your way and turn your experience and passion into your new job today. After all, you have nothing to lose and everything to gain!

Get Paid to Do You

Wouldn’t it be great if you could just get paid to meet your health goals? You could make money by losing weight, getting into shape or even getting a good nights sleep. HealthyWage helps you place bets on your weight loss goals. Having the right motivation might be just the thing to help you get in the best shape of your life. And you can even get paid to participate in trial testing, whether you have a clean bill of health or a specific condition. While being a “guinea pig” isn’t for everyone, the medications and treatment are free and participants are generally well-compensated. For something as simple as sleeping and providing feedback, it’s not a bad gig.