If you are looking to make a little extra income when you are retired, then you are certainly not alone. There are a number of retirees, as well as people aged over the age of fifty, who make money outside of their regular work. It might be that you’re just looking for something to pass the time with or might be genuinely needing to make more money. No matter the reasons for it, making a little extra money in retirement is common and something that I can definitely relate to. Here are some options that you could consider.
Image from Pixabay – creative commons
Rent out a bedroom
With no children at home anymore or the fact that you have always had a spare room, then a simple way to make an income, without having to do very much at all, is to rent the room out. It can fit in with your life but do think about it if you’re like me and have grandchildren around a lot of the time. Having a lodger can be a good way to make money and get a regular income coming into the home each month.
If you don’t have a room that is spare, but you have other space, then you could think about renting out storage space, a parking space, or others, depending on where you live and how much these things would be in demand. When you start to earn money, it is a good idea to consult an accountant, much like Xperion, to make sure that you are reporting everything and keeping it all above board. There can even be some helpful tax deductions for this kind of income, so best to check.
Sell online
If you have an interest in buying and selling, then it can not only be a good way to pass the time for you, but it can be a good way to make money. Selling your own things that are no longer needed, such as household items and clothing can be lucrative, or you could look for bargains online to resell at a higher price, as well as looking in thrift stores. When you choose the right kind of items, especially ones that are vintage or branded goods, you can make some good money for them.
Market research and surveys
There are a number of market research companies and survey companies I have found that allow us to make some money just from being sat at the computer. Earning money and vouchers by completing surveys and taking part in research panels sounds like a dream for us retirees, right? Some of the payouts can be high and some can be low. But with time on our hands, then it can all add up and make a difference when you need it.
These are just three ideas to help retirees earn money from home when retired, although there are a number of other options to choose from. Another thing I can suggest is to consider doing what you have done for your career, but more part-time, such as tutoring local children if you have been a teacher in the past, for example. It can all add up and help financially, as well as keep you active and look after your mind during your retirement years.
