Ten ways to earn money after retirement
Updated: Jan 6
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.
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.