Retirement may start off as a well-earned rest, or an opportunity to catch up on your reading and spend more time with the family. Unfortunately, if your spending habits are the same as they were when you were working, you may soon realize that your pension is not enough to make ends meet.
Perhaps you were smart enough to make some sound investments before you reached retirement age, but it never hurts to make some extra money in case of an emergency. Who knows, maybe your money-making solution will add some excitement to your post-retirement life?
Take care of your current finances
The first step to making ends meet is to make sure you’re not wasting money where you could be saving it. Have you saved money on your bills by going green? You probably don’t need life insurance for seniors over 80 just yet, but are you satisfied with your current life insurance plan? Are your investments still sound? Regularly checking up on your existing finances will ensure you have a healthy nest egg before you embark on other money-making ventures.
Sell items on eBay
You’ve collected a lot of things over the years; some of it has great sentimental value, but the rest is probably just taking up space in your attic. Now is the time to clear out some valuable space and make money by selling your unwanted clutter on eBay. Make sure you get your items checked out first so you know exactly how much they’re worth.
You don’t have to write your memoirs in order to make money from writing. There are a number of content sites that pay a few dollars for some short articles, or alternatively, you could try to make money by writing your own blog. Although this won’t be an instant success, it could be a long term project to keep you busy. Eventually, if you’re lucky, you could be making enough to finance your new lifestyle.
Whether you just have a lot of knowledge stored in your head, or you miss regular interaction, tutoring is a great way to impart wisdom and make some extra money. It doesn’t cost anything to reach out to your neighbors, or sign up to an online service, and share your knowledge with the next generation.
Become a guide
Is there a historical landmark in your area that you know a lot about? If you could practically write about about this local landmark, why not become a guide and get paid to tell people everything you know.
Use your hobby
Some retirees end up so bored and strapped for cash that they go out and get a job. You could go back to stocking shelves, or getting a temp job, but why not let your passions decide for you. If you consider yourself a connoisseur of wines or a food enthusiast, apply for a job at your local wine shop or delicatessen. Supplement your golf hobby by getting a job at the golf course.