A newspaper article about COVID-19 and the stock exchange made me again realize how vulnerable our financial system is.
As soon as stock exchanges are going down, there is talk about freezing the pensions. This year (2020) I finally receive a state pension, but these rumors always make me wonder for how long.
It’s better not to wait until the unforeseen happens. I want to make sure I have a back-up plan on how to make money after retirement!
The ideas I share with you are partly things I am doing or have been doing myself. And partly I got that information from friends and from searching the internet.
How to make money after retirement
Straight out selling
1. Sell your digital photos
There is a huge demand for free-to-use photos. Free to use sometimes means costless, but that’s not what I mean here. You own the copyright on everything you make and that includes your photography. Many business owners and bloggers are looking for high-quality photos that are free for them to use, copyright-free, yet they do want to pay for them.
2. Sell your handmade products
This can be anything from cakes to knitted clothing, drawings, paintings, or other art forms. Geographically you are more limited than when you sell your digital photography. The advantage however is that you will have direct contact with your buyers, which can be a good way to sell more to the same person.
3. Sell your stuff
Don’t we all have too much stuff? When we sold our house in the Netherlands and planned to travel we rented a storage room that had to be as minimal as possible. We tried to decide which stuff we deemed essential and sold the rest.
Mind you, you will always value your beloved things higher than a buyer will, plus people love to negotiate. Price it how you want but be prepared to give in a bit.
Bonus tip: decide beforehand how much lower you are willing to go and stick to that.
4. Sell on Zazzle
You can sell digital images on web stores like Zazzle. Not only pictures but also drawings, paintings, or graphic designs.
Offering your services
5. House sitting or pet sitting
There are several organizations that coordinate supply and demand. Choose one that has good reviews and that offers two-way reviewing for both sitters and owners. There is some initial investment because subscriptions to these organizations cost money. But it’s a great way to spend your holidays and see a lot of the world.
Related: How to Earn Money while Traveling, even as a Pensioner
Lots of young parents have jobs and with the present globalization, the grandparents are often not around to babysit. You can either offer to go to their house or let the children come to your house.
Certainly when it comes to children, there may be regulations or necessary insurances, so make sure you know in advance what rules apply in your country.
7. Dog walking service
For the same reason, people might need someone to walk their dog(s) during the day. If you are good at handling animals, you can walk a couple of dogs at the same time.
You can expand your service with deals that you offer your customers for discounts on animal feed or other animal-focused services.
8. Be a mentor, coach or teacher
We have a whole life of experiences, gained wisdom and past jobs. Younger people can benefit from us.
9. Get paid for online surveys
A friend of mine did this a couple of years ago, when she was temporarily out of money.
Start a business
10. Be a virtual assistant (VA)
If you have a talent for organizing you can be of great help to small businesses, that can’t afford full-time employees.
11. Start an online business
Have you done anything in the past that you can offer online now?
12. Be a personal shopper
I have always hated to shop. No matter whether that is going to the supermarket or browsing for new clothes. So when I was still living in the Netherlands I had someone who asked what I was looking for and went to the shops to see what was available. All I had to do later was let her guide me to the right shops, try some of her choices and decide whether I wanted it. I loved it!
Use your assets
13. Rent out (part of) your house
This can either be done on a permanent basis or temporarily when you are traveling.
14. Rent out your parking lot
This is especially useful when you live in a city with sparse parking space.
15. You can even rent out your car or tools
Society is changing and a lot of people don’t want the burden of too much stuff anymore. Setting up a service with neighbors could even be a great community activity.
16. Invest your money
I am a bit hesitant to mention this possibility. If you know what you are doing it’s a fantastic way to make extra money. But if you don’t, it is a sure way to losing a lot. So be careful.
Go back to work
17. Go to a senior employment agency
Age discrimination is forbidden by law. Yet in a lot of countries you have to quit your job at age 65 or 67. A senior employment agency has solutions that are legit.
Some random ideas
18. Have a kitchen garden
This might not make you money, but you will save money. That’s just as good, isn’t it?
19. Write and self publish your book
Nowadays it is so easy to self publish a book. And this I can tell you from my own experience: writing a book is a great experience.
20. Start a YouTube channel
You will need a lot of followers before you can make money of a YouTube channel. But a lot of people have managed to do it, so why not you?
Some thoughts on how to attract attention to what you offer
- Depending on what you are selling, there are different channels. You can sell digital products on a website you own like I do on AGEwithCARE. On websites other people own, like Zazzle and eBay and websites like that. Or on social media. Facebook for instance has Marketplace;
- Have conference calls on Skype or Zoom;
- Give webinars;
- Offer your services on Fiverr or another freelance network;
- When offering local services, you can place small ads on lamp posts, at stores, or in a neighborhood magazine;
- In this article, I have listed more possibilities;
- Partner up with a friend. This can be someone who does the same as you, or who has a related service.
Hopefully I gave you food for thought on how to make money after retirement. My list is not complete. If you have ideas as well, please share them in the comment box. Thanks!
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12 thoughts on “20 Simple Ideas on How to Make Money after Retirement”
Brilliant post! I think these ideas will not only help me now but after my retirement as well, which is a long long time ahead! lol
Really good ideas you’ve just shared, I was not aware of some of them.
Thank you for helping so many people out there.
Thanks so much, Rani, xxx
Thanks for the money making tips, I will be trying a few of these. Because after all if you are a senior, it seems like this is the hardest time to make a decent living. I found a way at Wealthy Affiliate, even if I haven’t earned yet. I’m not willing to give up. The light at the end of the tunnel is starting to appear. Once again thank you for some great advice.
All the best,
Exactly, Miriam, it seems difficult. Yet there are possibilities when we see them 🙂
Great ideas that you have presented here for how to make money after retirement. I haven’t retired yet but have already implemented ideas 3, 9, and 16 and will consider others going forward. Thanks for sharing. 🙂
Thanks, Michael 🙂
I have tried making money online with surveys in the past but I never had any success. I think it may have been the companies I was using. Do you have any suggestions on how to best succeed this?
Hi Catherine, unfortunately not. This was one of those things a friend did for a while. It’s a long time ago, so she doesn’t remember which ones 🙁
Thank you for this wonderful article. These ways can be followed for passive income even before retirement too 🙂 If possible, do give links wherever applicable to follow these ways.
Thanks, Prav. And good tips to give links. I will add them in the coming time!
Great, ideas, on money making possibilities when one retires. I have personally found success with MTI as well as wealthy affiliate. These are great options for youngsters to do too in order to generate income.
Hi Kay, yes, I think you are in the process of getting me enthusiastic about MTI as well. Your articles about that are very helpful and informative. I am slowly getting to understand what’s it about. 🙂