Ideas For Senior Adults Who Want To Earn Money In Retirement
August 2, 2022
By Michael Yublosky
I’ve been writing quite a bit lately about senior adults unretiring because of financial reasons. Some find retirement savings don’t last, unexpected health care expenses arrive or they feel the bite taken by inflation.
Kat Tretina wrote an interesting article for Yahoo! Finance just this past Sunday. In case you missed it, it was titled “How to Earn Money In Retirement: 9 Legit Ideas.” Following are some of her suggestions. She first points out things you should be aware of about earning money while retired. With regard to finding jobs, she suggests (I’ve also added my input) taking into consideration the following:
- What are the earnings potential? Will you be happy making minimum wage? Working for someone possible younger than yourself?
- Are you going to have the flexibility to pursue your interests and activities? She writes: “The best side hustles are the ones that you can scale up or down depending on your plans…”
- Now that you’re more mature, can you meet the physical demands of the job? Some positions may mot be a realistic fit for you.
- Are you looking for passive income or something that gives you a reason to get out of bed in the morning and go to work? You may also seek the social engagement of this type of active work.
The article continues to discuss nine alternatives you may wish to consider as well as the earnings potential:
- If you’ve been a parent, share your skills.
- Sell crafts you enjoy making.
- Share your knowledge and experience.
- Like pets? Become a dog walked or a sitter.
- Rent your car out.
- Lease out any extra space you might have.
- Rent your parking spot.
- Get a roommate.
- Deliver groceries.
Kat sums it up by writing: “By thinking about your goals and plans, you can make extra money and make the most of your retirement at the same time.”
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