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Ten ways to earn money after retirement

Updated: Apr 4, 2022

There are many people who simply can’t afford to stop working after retirement, while others don’t want to. It is no secret that a lot of us are entering retirement without enough savings to sustain ourselves for the next 20 or 30 years. If this is you, you might have to earn some extra income to pay the bills.

Many of us do not even consider stopping work as an option in retirement. We may plan to work in a different way, work different hours, or even use totally different skills. Some people decide on an ‘encore’ career and pursue something totally different they are passionate about. A growing number of people in their 50s and 60s become entrepreneurs.

Here are a diverse range of options, hopefully, you can find something to suit you, no matter what your circumstances. Many of these jobs you can do from home, in your time. This type of relaxed arrangement may suit some retirees. Part-time work might bring in enough money to supplement your income or you may be looking for something more substantial.

1. Rent out a spare room.

You have several choices take in a long-term boarder, host an International student in a homestay arrangement or advertise on Airbnb. Each option has its advantages and disadvantages although Airbnb offers more flexibility as you can choose when your room is available.

2. Child minding

Working mums often need someone to pick up their children from school and look after them until they get home from work. Mums who work shifts may also need child minding at other times.

3. House or pet sitting

Take care of someone’s house and pets while they are away or look after their pets in your own home.

4. Freelance work

Use your skills, work from home and choose your own hours. Web design, graphic design, bookkeeping, copywriting, a personal assistant or virtual assistant, proofreading are all examples of freelance work you can find. Offer your services on a site such as Fiverr, Upwork or Elance or advertise locally.

5. Make things and sell them

Take advantage of retirement to pursue something creative or rediscover your passion. Enjoy creative activities such as knitting, jewellery-making, scrapbooking, painting, crafts, or baking and then sell your work on Etsy or in local markets.

6. Delivery driver

If you enjoy driving and would like to get out and meet people a part-time delivery driver or an Uber driver job might suit you.

7. Information Technology Specialist

If you have worked in IT, you may be able to help people solve their computer problems. Helping them set up or use their computers/devices, or troubleshooting and fixing problems with hardware or software problems always a demand.

8. Consultant

Another option is to work on a freelance or contract basis for your pre-retirement employer. This allows you to use your skills and experience but have more flexibility in when and how many hours you work.

writing, making notes

9. Writing or Blogging

Retirement is the time when some retirees finally get around to writing that book they have always been planning to write. If writing a book sounds daunting, then blogging is an alternative. You can do both from home and with flexible hours. All you need to get started is a computer and an internet connection.

10. Entrepreneur

This is really just a fancy name for having your own business, but it is something that is becoming increasingly popular with retirees. According to the Kauffman Foundation, 26% of all entrepreneurs are aged 55 -64. After years of working in the same job, you may be looking for a new challenge or want to do something you are passionate about. Your new business could be something totally different from what you have done before or you may repackage the skills you already have.

There are, of course, advantages and disadvantages to having your own business but some types of home-based businesses can give you freedom and flexibility to work when, where and how much you like.

Deciding what to do after retirement, is not an easy decision and there are many options you may not have thought about. When you work with me, I help you explore your strengths and values and find a retirement job, business or opportunity that will suit your circumstances and create a meaningful retirement with purpose and direction.

If you would like some help with planning your retirement or if you would like to explore career options after retirement book a call here to find out how I can help.

If you are a teacher and prefer a self study option my course Getting Started with Career Change for Teachers will be perfect for you.

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