How to Make Extra Money in Retirement

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Though 65 is the standard age for retirement in the United States, many persons retire before that--or after. Retirement provides a great opportunity to travel, try new things and take time to explore your interests, but many retirees want to continue to make some money after leaving their jobs. Successful retirees usually find an enjoyable way to earn that extra money, whether by taking advantage of a longtime hobby or by learning new skills. Your major allies will be your imagination and willingness to try new things.

Things You'll Need

  • Internet Access
  • List of contacts
  • Think about what you love to do. Maybe it's collecting coins or going fishing or playing with your grandchildren or cooking. Many interests can be turned into small businesses. If you love being with your grandchildren, maybe you can babysit for extra cash? If you enjoy coin collecting, how about buying and selling coins at local auctions? Brainstorm ways you can turn your passion into a money-making venture.

  • You might be able to turn your home computer into a source of income. You can buy books, CDs or DVDs at thrift stores and yard sales and sell them on Amazon. You can purchase items cheap at tag sales and resell them on eBay. Another possibility is building a website and earning extra money from selling goods and services through affiliate marketing (see resources for links).

  • Contact friends, relatives, neighbors and other people who know you and ask them about jobs they might know about that match your interests. Keep in mind that not only do businesses hire part-time workers, but places such as your church and community centers might have jobs, too.

  • Maybe you just want to stay a little busier. Look into companies that actively seek experienced retirees to fill their jobs. One free site to try; Seniors4Hire.com. The government also has a full list of opportunities for seniors (see Resources for link).

Tips & Warnings

  • Be very careful before going beyond your budget to invest some of your savings into starting a business.

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