8 ways to make extra money during retirement

Jul 14, 2017 | Retirement

Whether you’re entering retirement with a great big nest egg or you’re in need of a little extra to get by, there are many easy money-making endeavors to help you stay active while using the skills and experience you acquired throughout your career. Try out these 8 ways to make extra money during retirement.

1. Clean the house and sell the non-essentials

Decluttering is good for the soul. Make it a project with your grandkiddos and host a garage sale, or list big-ticket items on Craigslist, eBay or Facebook Marketplace.

2. Use your love of dogs and babies to your advantage

What is more fun than cute kids and animals? According to internet memes, nothing! Spending time babysitting or dog walking will help keep you active, young at heart and put a few extra bucks in your pocket.

3. Participate in focus groups/surveys

It’s amazingly easy to make money by participating in focus groups. Search sites like Find Focus Groups or FocusGroups.com to get involved in market research near you and get paid for your opinions. And while online surveys usually pay a smaller dollar amount, they are a quick, easy and convenient way to make a little extra cash without having to leave the house.

4. Drive for Uber or Lyft

Many retired people enjoy driving for Uber and Lyft. Why? You get to make your own schedule, meet interesting people, and it’s easy to do, especially if you know the area well. Hello, easy money!

5. Become a temporary landlord

While Airbnb is best for people with second homes, it can also work for the rest of us with one home. Plan to spend a few weeks away with friends or family to take advantage of travelers looking for accommodations on Airbnb, especially when a major event will bring out of towners to your area. Or, plan to rent out your space during that month-long getaway vacation you’ve been saving for you are retired after all, live a little!

6. Put that professional expertise to use

Don’t let your professional know-how go to waste. Offer to consult for your former employer or other industry contacts you made over the years (you know, channel your inner Robert De Niro, “The Intern” style). Ask one of your kids or grandkids to help set up a blog and LinkedIn profile to help with networking and bringing in new clients.  

7. Tutor

This also taps into the professional skills you worked hard to hone. Did you spend your career as an accountant or copywriter? Do you have mad skills in public speaking? There are plenty of high schoolers and college kids who would be more than willing to pay for a few hours of tutoring before a test. Or you can help younger kids with homework as a part of your babysitter bundle.

8. Get crafty

If you’re not crafty, this might not be for you. But if you love spending your free time painting, knitting or even making furniture, set up a table at a local craft fair or start a free online Etsy shop. Roll in the dough selling your handmade creations!

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