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Making Money after Retirement

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By Donna Mischke, Director of Family Services at Concierge Care Advisors

Most of us can all use some extra income. If after retirement, you find that you have more time and would like to earn an extra income, you are in the right place. After having worked for decades, maybe you have noticed you are lonely, bored or just not being as active as before. To keep your mind and body active, consider different ways to make some extra money. This can be done on your schedule. You can work as many or as little hours as you want. While the possibilities are endless, if you do find yourself wanting to add some extra income or maybe just add more activities to your daily life, then here are five easy income opportunities:

  1. Sell Your Stuff- Online selling has never been easier and if you’ve gathered extra stuff over the years, chances are there are plenty of people who would be interested in buying. Toys, collectibles, vintage clothing, books and tools are always great items to sell online. Many communities will have local buy, sell and trade Facebook groups where you can sell locally. Craigslist is also a great way to easily sell your items and reach a larger audience. If you really want to reach as many potential buyers as possible, you can always list your items for sale on eBay or Amazon. You will have to share a percentage of your earnings but will reach a larger group of buyers. If you are not as comfortable selling items online, you can always have a large garage sale.
  2. Sell Your Talent- Do you quilt, sew, or bake? Put that talent to work. Small business cards can be purchased to advertise your skill. Hand those out and put the word out on social media. Many of these skills are a lost art. Small crafty items and artistic goods can be sold on Etsy.com. Custom made cupcakes or cakes can be sold for parties. Maybe you are good at fixing small engines or tinkering with machine items? Keep in mind that teaching any of these skills to others could also generate a small income. There are many different possibilities if you have the talent.
  3. Write a Book – Chances are you have a story to tell. Write that book and sell it. I have heard that everyone has at least one good book to write. Writing can be therapeutic and help stimulate the brain. If your book is good, try selling it on Amazon Kindle. If nothing else, you have left a manuscript for your family to treasure.
  4. Become a Sitter – Again, many possibilities which include babies, pets, homes, seniors, or children. People are always looking for house sitters when on vacation. Someone to water the plants, collect the mail and just stay at the home offers a piece of mind worth paying for. Additionally, the same applies to pets, children and elders. Check with your local community on what sitting services might be needed and put the word out.
  5. Rent a Room – If you live in a home with extra rooms, you might be able to rent out a room on a long or short-term basis. Depending on where you live, your rental room might be attractive to those not able to get hotels or lodging for events. College students, young adults just starting out, or even other seniors are often looking for cheaper room rates than most apartments will offer.

While you may not make a ton of money with the ideas above, you will increase your income and keep your mind and body active. Making money after retirement does not have to be hard. Everyone has a field of interest or a specialty that others may be willing to pay for, so use this to your advantage. The extra money will be great, but the physical and mental benefits of doing what you love will far outweigh the income.

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