We’ve all been advised to plan for retirement at a very early age and yet when we retire most of us are left with a corpus which is just close enough to survive and not enough to fully enjoy the life after retirement. So it is very important for a retiree to have a continuous stream of extra income to be able to live an enjoyable after retirement life. Here are some easy ways you can make money after retirement.
Trading on eBay
Web sites like eBay sell the second-hand products also and that too at reasonable prices. There is a huge arbitrage opportunity to cash on eBay. One needs to skillfully recognize the true worth of the products being listed, buy the underpriced items and resell it with a good margin highlighting their true worth.
Auction your Antique items
Most of us, since our childhood, have a hobby of collecting antique items like coins, old stamps, precious rare stones etc. Over the years if you have collected them, it’s time to sell them through auction. You never know, you might end up in millions. I’m not kidding.
Become a Consultant
There are a lot of established companies and promising start-ups who are constantly looking for people who can advise on matters they can’t handle. This is where you enter. With years of experience in your job, you can sell your knowledge and advice to people. This is a great way to make some money.
Well, teaching is one job that can give you immense satisfaction as well as money. If you are good at mathematics, physics, accountancy or any other subjects, you can provide home tuition to the students of the nearby college. Also, you might apply for a teaching job at a local college or school. This can bring you a steady flow of income.
Yes, you can make hefty money from blogging. It takes time but if you blog about topics that you know and that are interesting to read, you will have a loyal base of subscribers. The more hits you get, the more money you make through advertising on your site. All you need a computer and an internet connection.
Try your hand at entrepreneurship
All your life you have worked for someone else. Now, you can launch your own company and become your own boss. With the rise of the internet, there are plenty of opportunities that you can cash on. You just need a problem that you can solve, build a product around that solution and just launch. If you get some early traction, some VC might want to fund you.
There are a number of freelancing websites like Upwork, iWriter, scripted etc. that provide an opportunity to make money online through writing. Since you have years of experience in your chosen profession, you can write about that or if you are good at creative writing there are a lot of opportunities waiting for you to explore.
Stock Market Trading
I know, you must be thinking, this is the surest way to lose money. But wait, if you learn the art of stock trading, you can make millions out of it. You can learn about trading for free from Coursera. Just don’t be greedy, be content.
Become a Virtual Assistant
All through your corporate life, you have become an expert in managing things, people and what not. Now, you can utilize your expertise in earning money after retirement. You can become a virtual assistant for managing administrative task for some business. There are sites like Fiverr which can help you in this.
If you are an animal lover, then you can make few extra bucks by pet walking or grooming. There are a lot of people who doesn’t get time to look after their pets. You can make money looking after them.
If you live in a big place, you can rent out some portion or whole of it. There are various options you can evaluate:
- Rent out entire property when you are on holiday
- Convert unused single room into a conference room and rent it out to business looking for meetings.
- You can list your property at Airbnb and rent out your place.
You can make a steady income by renting out your excess space rather than spending money on its maintenance.
Be on Board of Directors
When one spends his whole life working in a particular industry, he gains immense expertise and knows the minute details of that industry. Corporates look for such individuals who can steer the company in turbulent times and through their competence provide the company a competitive edge.
If you have a spare land, then there is a great opportunity of pursuing gardening as a hobby. By using modern techniques of organic farming, horticulture can prove to be a fantastic source of income. You can sell fruits, vegetables, and flowers in the market.
Also, many people take the land on lease and practice horticulture on a large scale. Apart from earning huge revenues, it’s also a great favor to mother Earth and environment as a whole.
After retirement, you can create a small network of people with the same set of skills and interests and start providing specialized services to prospective clients. The retirees can be lawyers, finance executives etc.
Become an Author
If you have a flair for writing, you can publish a book on things you know or some fictional novel. Using Kindle Publishing Direct you can publish your book in less than 5 minutes, reaching millions of readers on Kindle stores worldwide.
Time for Action
There is a plethora of information available on the internet about how to make money after retirement. And, I can continue sharing all those information with you, but if you don’t take action, you will never succeed. You have to move out of your comfort zone to achieve something you wanted.
Retiring doesn’t have to be boring, there are lots of ways you can make your retirement interesting. Just take that plunge.