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All of us have grand plans for our golden years. We imagine a big house, plenty of grandkids, and a comfortable income. But unfortunately, in today’s economy that plan is increasingly unattainable for many. Saving for retirement is more difficult than ever, and the age at which most people retire is being slowly but steadily pushed back.
Does this mean you have to give up your dream of a comfortable living once you retire? Not at all. Even if you aren’t as spry as you were when you were young, there are still plenty of part-time ways to make extra money during retirement without having to rely on title loans to cover your expenses.
Passive income refers to any kind of income that after a small investment of time or money, you continue to receive dividends from after you stop actively working at it. For example, an author continues to make money from sales of their books long after they finished writing them. For retirees, passive income can be a great way of making extra income.
There’s countless ways to earn passive income. Some of the most popular are blogging, writing an e-book, selling audio products, and creating stock photos. In the internet age, it’s now possible to set up and automate a sales funnel with very little need for human input.
Why not share some of the knowledge you’ve spent all these years acquiring? For the right price, of course. Tutoring can be a very lucrative business for the amount of time it takes. A few common types of tutoring include musical instruments of any kind, art, reading, math, and science. Even a general knowledge of a given subject area is enough to start you off as a tutor.
Finding students isn’t as hard as it used to be. There are numerous websites dedicated to bringing together tutors and students. Find the one that works for you and sign up so you can start reaping the rewards of your knowledge and life experience.
This is one of the easiest ways to make a quick buck. House sitting is an incredibly easy job with a low barrier of entry. Start off slow with friends and family, then expand and build a client base that can recommend you to their acquaintances. Before you know it, you’ll be on the path to a profitable little side business that doesn’t require much more than sitting around.
If you’re able to successfully build a house-sitting revenue stream, a natural extension is the addition of pet sitting services. Even more than their homes, people value their pets and they’re willing to pay a premium to make sure they’re well taken care of. If you have a way with animals, then this is a perfect way to take advantage of this additional income source.
You may have spent the majority of your career working for a company, but now that you’re retired, you can put these skills to work for anyone. Fiverr and other freelancing sites have made it easy for freelancers to find people who need their skills. Writers, bloggers, coders, translation, photography: all these are skills that you can cash in on as a freelancer.