How to Earn Extra Money in Retirement

How to Earn Extra Money in Retirement

You’ve worked hard your entire life and now you’re in retirement. Travelling the world, going on cruises, spending more time with your friends and family are everyday activities which you find joy doing as you enjoy the fruits of your labour. 

Although retirement is a time to enjoy life with your loved ones, you may still want to keep active by doing community service, work around the home among other things. You may want to earn some extra money as well and do not know how. 

I’m here to help. Below are some ways you can earn extra money online in Retirement.

Consider Blogging

Are you a great writer? Can you write engaging content on a topic you are passionate about? If so, then you might want to consider blogging. 

You can earn some great side money from blogging. In fact, some people make it their primary income because it can pay very well. To make a lot of money from blogging, it usually takes hard work, time and dedication and it does not come overnight. However, if you follow the right steps and can engage your audience with a winning personality and great content, you might just be on your way more sooner than you think.

Become a Transcriptionist

If you have fast typing skills and you want a job that provides you with a flexible work schedule, then you should look into becoming a transcriptionist. 

The average annual salary for a transcriptionist is $26,882 and the amount you get paid is determined by how long the audio is and how long it takes for you to type.

You will need to invest in a high quality headphone, a desktop computer or laptop and a word processing program. It also helps if you have a typing program where you can master your typing skills to earn even more money in the long run. There is basic computer knowledge needed in order to become a transcriptionist such as converting word processing files into formats a client requests as well as downloading media files.

If you are interested in becoming a transcriptionist, you can check out Rev and TranscribeMe!.

Rent Your Living Space

You may have an extra room available because your children have gone off to college or moved out. Maybe you have another property that’s a family vacation house that is usually vacant throughout the year.

Why not turn your rooms or property into extra cash? You can rent out your living space by become a host on AirBnb. Earn extra cash by opening up your home to people from around the world looking for a place to stay on their vacation.

AirBnb currently has hosting facilities in over 192 countries worldwide and you can rent your home by the night, week or month to accomodate guests and offer hospitality services as well if you choose. 

Try Consulting

If you’ve spent most of your time in the corporate sector, chances are you have a wealth of knowledge in your chosen field. Why not turn that knowledge into consulting services? 

You can use your skill set and expertise to offer consulting services for individuals who may now be starting off in a particular field and can learn a lot from you who have a lot of experience. 

Become a Market Researcher 

Are you interested in earning money online from the comfort of your home? You may be interested in become a Market Researcher. Companies such as HP, Deloitte and Johnson and Johnson are looking for your opinion and feedback on your products and you can earn an income doing this! 

There are also focus groups that can you hundreds of dollars per job for some hours of work that can add up really nicely when the month comes. Companies like Engage and Mindswarms pay from $50 US to $250 US per job.

Baby Sitter / Care Taker

As a retiree, you can earn extra money by taking care of children by becoming a caretaker. If you’ve raised kids and may have grandkids, helping out working parents can offer a sense of fulfilment if you are passionate about kids and you can earn money while doing so.

The average caretaker in the US earns about $13.97 per hour and this can vary according to experience and geographical location. 

If you are interested in becoming a babysitter or caretaker, you can jumpstart your online search by visting websites such as Care.com and Urbansitter.com.

Entrepreneurship

This is one of my personal favourites. Is there something you are passionate about? Wouldn’t you like to know how to turn that passion into some extra cash?

Wealthy Affiliate is the program for you! They teach you how to turn your passion into a profitable online business by creating a website and driving traffic to the website so you can earn an income. 

You can check out my full review of Wealthy Affiliate here!

Final Summary

I hope the information I provided above has been useful to you in helping you earn some extra income in retirement. If you have an questions or have feedback on this article, please leave your comments below. 

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