Retirement isn’t the end of a journey, but it can be the start of one. Just because you’re not working full-time anymore doesn’t mean you don’t want to keep active and maybe earn some extra spending money. But barring going out and getting a part-time job somewhere, what is a retired senior to do?
Thankfully, members of the Bethesda Gardens assisted living community in Frisco, TX — or any other seniors — have never had more options for earning a little extra dough. Maybe you’re comfortable enough with technology to want to utilize the more tech savvy options and find an opportunity through an app. Or, maybe you’re more comfortable asking around to find out if anyone needs anything. No matter what your preferred method is, you may be able to monetize it easier than you think.
One of the simplest ways a senior can make money after retirement is to continue working in the field they were in. That isn’t a suggestion to keep working full-time without retiring, but you may be able to put skills you’ve acquired to use on a part-time or consulting basis.
This can range from training new hires to helping develop procedures to doing your old job on a more leisurely schedule. It doesn’t stop there; with your background in that field or industry, you might be able to carve out a new niche that doesn’t even currently exist. That's especially true now with so many remote working jobs; there are numerous methods for putting your knowledge to work for you without going back to work full-time.
Similar to consulting, freelancing is a great way for seniors to put knowledge gathered over a long career to use for a little extra cash. The difference between consulting and freelancing is that you might not necessarily be working in the same field you were in. You might find yourself passing on your knowledge or using your extensive experience in a completely new way.
For example, you might be able to perform some tasks related to your field privately for a third party, or you might be able to use a freelance website to do the same thing and be paid per task. There are plenty of sites online where both businesses and individuals are looking for people to do certain jobs. From writing to administrative work as a virtual assistant — and everything in between — freelancing offers an array of options.
Chances are there’s someone out there who could use help in a subject you know well. Whether online or in person, you might consider offering your services as a tutor. An added benefit to tutoring is that it can help you develop relationships with other people while you're making money.
Oftentimes when the word tutoring is mentioned, people think of helping kids with their math homework or something like that. That’s not the only kind of tutoring there is, though. There are plenty of subjects at all levels and people of all ages that need help with learning. You might even find someone that you could mentor in their career if they are going into the same field as you.
If you’re looking for something to get you out and about rather than something you would be doing from inside your home or assisted living community, perhaps you might consider providing a service. Whether it’s a hobby you do or just something that you’re willing to do for someone, services are always a great way to make extra money. Even better, there’s numerous ways of providing them and being paid.
For example, if you’re an animal lover, you could provide people with dog walking services. Or, if you have a skill that you’ve perfected over the years, like cutting hair, installing car radios or carpentry, you can provide service to people at their home. In today’s gig economy, the possibilities are endless.
Most people don’t give it much thought, but it’s likely that you have some kind of knowledge or skill that you can use to bring in a little extra cash. Whether you turn it into something that makes you a lot of money or whether it’s just something you do to add variety to your life is really up to you. The opportunities for a retiree to go out and have some fun while making money have never been more plentiful than they are now.
If you’re looking for a little extra spending money or just want to try out something new, see if one of these might be a good fit for you. If nothing else, maybe this list can inspire you to something else that can be just as rewarding both spiritually and financially.