I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.
Even in retirement, you might need some extra cash to do the things you want. Luckily, you don’t need to put in a ton of time and effort to make more money. There are plenty of methods to earn a side income.
Here are 12 effective ways to make money in retirement:
- Rent out empty rooms.
- Pet sitting
- Sell creations online.
- Do paid surveys.
- Be a virtual assistant.
- Try career coaching.
- Work part-time at a virtual call center.
- Teach English online.
- Start a podcast.
- Teach your skills online.
This article will cover all of the above ideas, so you can get a better idea of how they’ll help you make money. You can use all of these ideas in the comfort of your own home, allowing you to still make the most of your time in retirement.
So, if you’re ready to learn more, keep reading!
Freelancing doesn’t have to be boring, and you can market any skills. For example, on Fiverr, people have offered to sing Happy Birthday to loved ones for a few bucks. You’re sure to find creative ways to make money while freelancing online.
In today’s world, the most popular services are writing, graphic design, transcription, translation, and various forms of video editing. If you can offer these types of services, you’re sure to be in high demand.
Benefits of Freelancing
There are even several types of benefits that come with freelancing. You can work when you want to, from anywhere that you have an internet connection.
There are so many options for flexibility for online freelancing, which is what many retirees need. If you have access to a working laptop, you can also take your work with you on the go.
That way, you can still enjoy all the freedom that comes with retirement. Overall, you’ll still get to travel while making money. Many people also appreciate the work-life balance that comes with these types of jobs.
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2. Rent Out Empty Rooms
Now that you’re retired, you may have some empty rooms at home. You can easily rent them out to others for additional income. Airbnb allows you to connect with those looking for a place to stay quickly.
You can choose how long the renters stay and how much the spare rooms should cost. That way, you can make the most of your space. Airbnb even allows you to set rules and more, so you still feel in control of your space.
In short, you can make the most of the rooms you don’t use anymore. You may need to buy a bed or other furniture for the rooms first. However, start-up costs are generally relatively low for most retirees.
That way, you can start renting out your empty rooms as soon as you’re ready.
Many retirees also take to babysitting. You can babysit for the local community, allowing parents to get out of the house. Many people also need babysitters to watch their kids while they’re at work.
With babysitting, you can often choose how much to charge.
Plus, if you love kids, this should be a fun, rewarding experience for you. You can market your services online through social media in your area. There are also plenty of babysitting apps and websites that you can use to help parents find you easily.
4. Pet Sitting
Pet sitting is also a job that’s often in demand. If you love animals, you’re sure to enjoy this job. Like with babysitting, you’ll want to find ways to let others know that you’re available.
Social media is an essential starting point, but you can also try out sites such as Petsitter.
You can allow pet parents to drop off their pets at your home, or you can provide a pet sitting at the owner’s home- it’s up to you. Depending on where you live, pet sitting can be a very profitable side job during retirement.
5. Sell Creations Online
Do you have any hobbies? You might be able to turn them into some extra money. Any crafts that you enjoy making, you can sell them online through sites like Etsy.
Etsy is an online marketplace, which focuses on homemade goods. You can find plenty of unique, beautiful items there. If you enjoy making anything, you can surely sell it on the platform.
Often, retirees have spent many years of their life perfecting their hobbies. Etsy makes it possible for you to turn your creations into money.
6. Do Paid Surveys
If you’re looking to make some money with your spare time, then paid surveys will work out great for you. You’ll probably only make a few dollars per hour, but it can add up. OneOpinion and Swagbucks are some popular options.
However, more pop up all the time.
If you have a free moment or feel bored at home, simply take out your device and open the survey app. Many survey sites make it easy to access a ton of online, paid surveys, so you should find plenty to fill out.
You can find a survey site that you enjoy, then stick with it. Many sites require that you earn a certain amount of points before you can cash out.
That means you’ll need to put some time into it before you can get paid.
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7. Be a Virtual Assistant
You can also try being a virtual assistant to make additional money. You can use the internet to work from home, so you shouldn’t have to commute anywhere.
Plus, you can often set your hours, as this is a type of freelancing position. Virtual assistants often help businesses with their social media, customer support, and more.
If you already have experience as an assistant, you should find becoming a virtual assistant very easy. It’s also likely to make you a decent amount of money pretty quickly.
Much like other forms of online freelancing, virtual assistant positions also come with plenty of benefits. You have plenty of freedom while working these types of jobs.
That way, you won’t have to give up relaxation and travel time during your retirement.
Reasons to Become a Virtual Assistant
You get to be your own boss. Who wouldn’t want to control their own hours, work from home, choose what services you provide, and more? Plus, there are almost no start-up costs of working as a virtual assistant.
That way, you can start as soon as you’re ready without investing in the job.
Overall, anyone can be a virtual assistant today. All you need is a reliable computer or laptop and a good internet connection. From there, you can quickly complete tasks that you receive during the day.
8. Try Career Coaching
You likely have many years of experience working. Why not help others figure out what they want to do? You can assist those just starting in their fields and make money while doing it.
Often, you can provide career coaching from home too. You’ll want to offer advice on finding jobs, provide interview tips, and help guide people into their desired careers.
You can even provide career coaching services as a freelancer or provide your services through career coaching websites.
Benefits of Career Coaching
Aside from having a flexible schedule, you also receive plenty of other benefits when you become a virtual career coach. You can motivate others and offer them all of the experience that you have.
Many retirees feel that this is very fulfilling, and they enjoy working with those fresh in their careers.
Overall, you’re also sure to enjoy providing others with opportunities, experiences, and growth. Many people want this line of work for that reason.
9. Work Part-Time at a Virtual Call Center
Next, you can consider working part-time at a virtual call center. This job is perfect for those who enjoy talking with others. You can place the calls from your home, and many places also allow you to choose your hours.
These benefits are perfect for those working in retirement. Since you can choose when you want to work, your part-time job shouldn’t get in the way of you enjoying your free time.
You’re sure to have ample time to relax and enjoy yourself.
10. Teach English Online
You also have the option to teach English online. There are plenty of sites searching for online tutors and educators who can speak English, which means that there’s a huge market looking for people just like you.
You’ll love teaching international students from the comfort of your home. These jobs also pay well, so you’re sure to earn money very efficiently.
Overall, this job is gratifying for those in retirement. I’m confident that you’ll enjoy teaching your English skills to others.
11. Start a Podcast
Additionally, if you have a lot of topics that you want to discuss, you can start a podcast or YouTube channel.
There are plenty of excellent podcasts online that have a dedication to retirement. However, you can make yours about anything that you want. You have plenty of unique experiences and skills that many people want to hear about.
It’s a good idea also to make social media pages dedicated to your new podcast or channel.
That way, you can reach out to an online community and let others know about your content. As you gain a following, you’ll have businesses reach out to you with sponsorship opportunities. Plus, many sites pay per listen or view.
You may want to work on your podcast with other retirees. Although, working alone can be just as fun and rewarding, but you’ll need to put a lot more effort in to succeed.
Overall, starting a podcast is an option for many retirees. Think about what you want to discuss. It helps to create lists that include various topic ideas, then, you can go from there.
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12. Teach Your Skills Online
There are many teaching jobs that you can find online, but you don’t need a teaching degree for all of them. There are several websites dedicated to teaching students how to write, draw, among many other activities.
These educational sites want teachers with experience in specific topics.
For example, Outschool allows you to create a curriculum and teach on a schedule that you set. You can earn money teaching kids about topics that you’re passionate about.
Plus, if you have any unique skills, you can educate children on them. Overall, teaching online is an enriching experience. You’re sure to love teaching students about topics that you’re passionate about.
Why People Work After Retirement
Today, it’s very common for people to work during their retirement years. Many people don’t stop after their retirement comes, even if they want to.
However, working after retirement comes with plenty of benefits that you’re sure to enjoy. Those who continue working are more likely to keep active and healthy.
Plus, these retirees feel more socially satisfied and connected with other people. Also, many people feel frustrated without structure in their lives.
If you’re worried about missing daily routines, you’ll benefit greatly from having a part-time job while at home.
Finally, many people still need supplemental income while in retirement. You can continue saving or use the extra money for fun activities, such as vacations and travel!
Overall, many people still need cash during retirement in today’s world.
There’s an Online Market for Anything
There are many different ways that you can earn additional money while in retirement. Whether you’re saving for a large purchase or just want some money on the side, the above options should work well for you.
Working from home is common today, especially since the Covid pandemic hit. You’re sure to find plenty of different opportunities that help you make money as efficiently as possible.
No matter what experiences you have, there’s an online market for it. For example, if you were a drama teacher during your career, you might be surprised that you can still teach drama online through YouTube channels, or through many course platforms.
Or, if you are adept at crocheting or knitting, you can sell your creations on Etsy. Earning money online is very easy to do today. I’m confident that you’ll find something you love doing.