Making Money After Retirement
Making the decision to retire is something that most people look forward to with mixed feelings. According to a recent USA Today article, some retirees have regrets about not having saved enough money; of retiring too early; not taking better care of their health, not staying closer to family during their working years; and not having a plan for what to do after retirement. That is a lot of NOTS! But examine each “regret” and you will find that it is not irreversible. People have ‘come out of retirement’ to lead very fulfilling professional lives using their former skills. Others have begun a health care regimen and become ‘healthier than they were as teenagers’! Many retired people have mended family ties and become even greater parents and grandparents (they now have more time to devote to family).
And two of the regrets of “not having enough money after retirement” and “not saved enough for retirement” are also poised for a solution. Here are just some of the possibilities for retirees who seek additional post-retirement income that made it onto my list of Money-Making Retirement 101 List:
Money-Making Retirement Ideas 101
Pet sitting – either having the pet in your home or making pet visits at the pet’s home
House sitting – there have been retired couples who make a very tidy sum by taking care of vacationing families houses
Substitute teacher or teaching assistant – wonderful if you love children, have teaching skills and are flexible
Turning a hobby into an income – there are numerous examples under this category. Do you love model building? How about giving a class at your local club or home owners association? Give woodworking classes. Enjoy crafts – do craft workshops or sell your one-of-a-kind items on the internet.
Do you like to sew? Many seniors at retirement and health care facilities could use your skills.
Rent out a room in your home to a student.
If you have a car and time on your hands – turn it into a profit by running errands
Have a flair for fashion and enjoy shopping? Become a personal shopper for busy people.
Enjoy using the internet – be a researcher for a writer
Start a career helping to arrange garage sales
Enjoy cooking? Try party planning/catering as a second career
The list of possible money making opportunities is only limited by your own creativity.
Are you a retired CPA? Helping seniors with their financial accounts could become a wonderful career opportunity.
The added benefit of most of these ideas is that they are ‘self employed’ and self motivated. They also do not require a lot of investment and you can start small and develop your new “career” slowly. You are tapping into your life skills and don’t be afraid to make a few mistakes along the way to your next opportunities!
I would love to hear about your own personal ‘second career’ transitions.
Working to Preserve Your Wealth and Protect Your Future in a Constantly Changing World.
This post has been brought to you through the Law Office of Barbara Ann Dalvano. This information is provided for educational purposes only and to generate ideas, provoke thought and facilitate conversation. It is not intended to create an attorney-client relationship. Each person’s situation is different and this information should not and cannot be relied upon as legal, tax, accounting or investment advice. Please read the entire disclaimer for more important information.