The need for extra money in retirement hits almost everybody at some time. The need or desire to make money in retirement can give almost anyone a few anxious moments. We think we can simplify the situation because there are many ways to bring in a few extra dollars without giving up the lifestyle that you love. Even if you find yourself needing to get a job to pay a few bills, there are ways to make this as painless as possible and even have fun in the process.
As you look for ways to make money in retirement, don’t underestimate what you bring to the table. You have a wealth of knowledge and experience that will be a very valuable trait for any prospective employer or, indeed, any customer. While a traditional job is certainly one avenue to pursue, don’t overlook a business for yourself whether it’s offering advice or a product. Let’s look at the employment possibility first.
Clearly a traditional job is one way to make money in retirement but, before you go out and take the first job that comes along, take a few minutes to see if you can align your future employment with an interest or passion that you have. Over the course of most people’s journey to retirement, they have learned a lot of information about a lot of different topics. It’s an experience that you should never underestimate the value of and something that you should try to leverage in the best way possible. It’s easier to do than you might think.
Suppose you have an interest in fishing and have gone on trips that involve flyfishing, deep sea fishing or something in between. You’ve purchased equipment and gone to different locations and, perhaps, hired a company to charter a vessel or trip. That’s an experience level that an employer in this category would see as an asset and, as someone who is a little bit older and wiser, a younger customer would see as a positive when you give your recommendations for a purchase. This, of course, applies to any other hobby, interest or past employment. In this second stage of your employment career, however, you want to move into the capacity of being an advisor rather than a worker although there’s nothing to say that you can’t do both. By staying in a field of interest, you not only leverage your expertise, but you greatly increase the chances that you’re going to enjoy going back to work and the fact that you had to find a way to make money in retirement, will not mean that you left your passion and interests behind.
You may also consider a business to do the same thing. Mentoring people in an interest and running a little workshop is a great way to supplement your income. A lot of people make money in retirement just by doing free lectures and then selling equipment or making referral fees from a company that is in the industry. For example, a charter fishing boat could give you a certain percentage of their fee for anyone you refer to their business. In fact, that model of referral is another business you should consider if you have a specific passion or interest.
You would be surprised at how many retirees make money in retirement by having a website like this one. You would be even more surprised at how easy it is to do and how much fun it actually is. And, when someone follows through on a recommendation that you make, it’s quite a thrill to see money going into your bank account automatically. You can literally make money any time day or night and have a great time doing it. This is my first suggestion to anyone who complains to me that they’re bored in retirement. The days will whiz by as you work on an interest that you have and there’s almost no limit to what you can create and the number of people you can help. Some of them may even reach out to find out how you can help them make money in retirement as well. It doesn’t cost a lot of money to get started and the technology has advanced to such an extent that, if you can write an e-mail, you can probably create a profitable website. Give it a try. It’s time to do new things and Enjoy Retired Life!