5 Ways to Earn Extra Money as a Retired Baby Boomer
Now that you’re retired, you’ll notice you have a lot more time for the things you may have wanted to do more of: travel, time with pets and/or grandkids, home improvement projects or just taking it easy.
But all that time might also mean you find yourself wanting to tackle a new challenge.
One that even gives you a bit of extra cash in your retirement.
Luckily, it has never been easier to find work as a retired baby boomer. There are many advantages to being an older entrepreneur.
From online part-time jobs to selling things, below are five ways to earn extra money as a retired Baby Boomer.
5 Ways Retired Baby Boomers Can Earn Extra Cash
Planning for retirement can require a checklist and some serious money management. For some retirees, earning additional income in retirement means continuing a preferred lifestyle.
Search for a Part-Time Remote Job
The digital workspace means you can add some work to your schedule right from the comfort of your own home. From writing to customer service, companies all over the world are now hiring for online remote work.
However, it can be hard to find a legitimate online remote job. The internet is full of scams trying to ensnare people looking for such work. One such site that weeds out the scams for you is FlexJobs, which you can read an honest review of here.
Set-Up a Part-Time Service Business
One of the easiest ways to make money as a retired baby boomer is to set up shop providing a service. What makes this option so easy is that in many instances you can provide the service right in your neighborhood to people you know. Examples of jobs you can do for people right in your community include:
- Dog walker
- Lawn service
- Pet sitting
- Child sitting
- Home cleaning
- Party planning
These roles allow you to take on as much or as little work as you want, making them flexible options around your retirement activities. Many of these options keep you physically active and in touch with your local community, too.
Sell Something Online
Retirement offers the perfect chance to pick up an arts and crafts hobby. You can even make that hobby bring in some extra cash.
With the advent of sites like Etsy, you can sell your arts and crafts online to consumers. You can read a case study on what it’s like to sell jewelry on Etsy here.
You don’t have to stop at Etsy, however. Sites like Amazon and eBay allow you to sell whatever you can find.
For instance, if you spend a lot of time at used book sales and know a lot about books, you can set up a used bookstore online.
You could also sell collectibles like toys or stamps. Your passion for collecting can turn into a nice little side business if you know the value of what you’re looking at.
Find a Part-Time Job in your Community
Have you always secretly wanted to be a librarian, but it just never panned out in your career? Or would you like to try working with nature outside after 40 years in an office?
Try applying for a flexible part-time job at the types of businesses and organizations that fit whatever you wanted to try while you were younger. For instance, the library may need a part-time assistant or that local nursery might need some seasonal help.
Rent Out Your Home Space
If you’re feeling lonely and you don’t mind visitors or a roommate, you also may be able to rent out your space. For instance, you can host travelers at your home with sites like Homeaway. It’s a great option if you have some extra rooms after the children have flown the nest.
Another idea is to get a roommate or tenant. This can be a great option if you have space on your property like a separate small house or a “mother-in-law suite.” Some people even fix up the garage to be a livable apartment.
You can even rent out storage space on your property, like space to store a boat or RV, if you have a lot of room you’re not using.
With these options, you can kick off some extra cash flow in your retirement with relative ease. Whether you want to run a mini-business or make some extra space create some passive income, there’s a way to earn cash for just about any level of regular effort you want to put in.