Money-Making Ideas for Retirees

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If you are like most people who are retired, you probably wouldn't mind bringing in a little extra cash each month to help you get by. Several money-making ideas allow you to earn extra income and don't require you to work a full-time schedule -- unless, of course, you want to.

Sell Stuff Online

  • It doesn't require a lot of money to start selling items online. In fact, most people who sell on websites such as eBay and Amazon usually begin with what they have sitting around their house. You may sell your old books, knickknacks you no longer care to collect, or sports equipment. Your time is spent writing descriptions, listing items for sale, sending invoices, and packaging and shipping the goods. Although there are generally no fees to become a member of an online marketplace, there are often fees involved when you list or sell something. Research each website before you start selling, so unexpected fees don't eat away at your profits.

Become a Consultant

  • The job of a management consultant is generally to help organizations find ways to improve their efficiency, and retirees in certain fields are ideal candidates for the job. According to the U.S. Bureau of Labor Statistics, a management consultant typically makes a median hourly wage of $43.26, as of May 2013. Retired employees who have previously worked in management positions or as engineers and scientists may find consulting in their field a lucrative venture, even if they choose to work only part-time. The AARP advises, however, that the contacts you made in your previous job are good for only 18 to 24 months after you leave, so start a consultancy sooner rather than later.

Provide a Service

  • If you are a recent retiree, you probably have a good idea of how hectic the rat race is for those who are still working 9-to-5. Make extra income by providing a service to those still on the clock. Run errands, walk dogs, plan parties or clean houses for clients who might be happy to pay for the service.

Care for Others

  • If you are in good physical shape, are mobile and have an abundance of energy, working as a caregiver or babysitter is a rewarding way to make additional income. As a caregiver for an elderly person, you may provide companionship, run errands, escort her to a medical appointment, cook meals or clean. Working as a babysitter or a childcare worker can be equally rewarding.

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