Retirees are perfectly positioned to start a successful side hustle. With remote work the new norm, and gig work apps like Uber and Airbnb a part of our everyday life, it has never been easier to secure an extra income stream. Use the skills you have accumulated throughout your career to earn extra cash — or use it as an opportunity to get involved in a new hobby you have always wanted to try.
Due – Due
Retirees have a particular advantage because they have both time and expertise in various fields. Here are 15 ideas for generating an additional income stream during your retirement.
1. Start a blog or online course teaching others about your retirement planning strategies
If you specialize in any topic, there is likely a market for it on the internet. For example, If you are a retired teacher, share some of your most successful lesson plans. If you are an excellent cook, make a blog with your recipes. Have you mastered planning for retirement? Consider sharing this information online.
The possibilities are endless, and odds are you have a skill worth sharing online that can make you some extra income throughout the month.
2. Rent out a room in your house
Many retirees have tons of extra space in their homes, especially after their children have moved out. If you are a homeowner with some extra space, renting out a room in your house on Airbnb is one way to fill up the extra space and generate additional passive income.
If the idea of having strangers coming in and out of your home makes you uneasy, you could also find a more permanent tenant to share your home with. For example, consider opening up your home to a college student looking for a place to stay during the semester or an international traveler who needs somewhere to stay for a few months. This can be a fun way to forge new relationships and add some passive income.
3. Rent out your car
Another less invasive income stream option is temporarily renting out your car or motorcycle. Rideshare apps like Turo and Drivy allow you to lend out your car for whatever period you desire. If you have an extra car sitting around, or only use your car for big trips, this is an excellent way to generate additional income while you sit back and enjoy your retirement.
4. Offer pet-sitting services when friends and family go on vacation
This is a great temporary and easy way to earn some extra money. Not only are you doing your friends, neighbors, and family a favor, you can …….