How to Make Extra Money in Retirement

As many of my readers know, I live in a 55+ community. In that environment, it may not come as a big surprise that how to make extra money in retirement is a favorite topic of conversation.

Whether we’re relaxing with a cold beer at the 19th hole, gathering for cards, or chatting at the local coffee shop, the discussion just seems to drift in that direction.

It’s no secret that many baby boomers are not as well prepared for retirement as they hoped to be. There are a lot of reasons for this. Some of these include fewer private pension plans, lower interest rates in recent years, and a failure to save enough over working careers.

Do you have financial security concerns?

Baby Boomers and the Golden Years

For many baby boomers, it’s imperative that we figure out ways to supplement income during our retirement years. While the golden years may seem a little less “golden” than anticipated, you can hold onto your savings longer and still enjoy some simple luxuries by continuing to earn.

My focus is going to be on ways to make extra money on the Internet. Obviously, there are more traditional approaches also. Many retirees have part-time jobs with local businesses or earn income by providing services to neighbors for a fee.

Things like babysitting services, pet walking, housecleaning, yard work, and shopping services are all viable options. But there are also numerous opportunities to earn money online for seniors who have learned to find their way around the Internet. The online options may not come to mind quite as quickly. Nevertheless, they are worthy of consideration.

8 Ways to Make Extra Money on the Internet

The suggestions listed below vary widely in terms of both earnings potential and the amount of time and effort required to see results. Some will merely put a few extra dollars per month in your wallet. Others offer a chance for more substantial earnings and with time may approach a full-time income.

Take the time to evaluate these ideas in light of your personal situation because not everyone has either the same interests or the same budgetary needs. As with most things in life, the more work you are willing and able to do the greater the potential reward. But there’s always a trade-off.

Retirees are a wonderfully diverse group. Some are still budding entrepreneurs. Many have filled their days with enriching volunteer and leisure activities while others are still seeking personal fulfillment. Where do you fall on this spectrum?

Each of these tips is worth considering because they represent legitimate online opportunities that fill different needs. One, or some combination, of these approaches, may be right for you. So, feel free to explore and find your best fit.

8 Ways to Make Extra Money on the Internet and Increase Your Retirement Income

 

Get Paid for Your Opinion

If there’s one quality we boomers have in common, it’s strong opinions on most things based on a lifetime of experiences. And, very few of us are shy about sharing our positions. Am I right? Your opinions won’t bring you riches, but they could fund the occasional evening out.

If you enjoy taking surveys, click here for a review of 4 legitimate paid survey sites that can add a bit of extra cash to your entertainment budget.

Take Advantage of Rewards Sites

Swagbucks is my favorite online rewards site. You can join the program for free and then participate in various online activities to earn spending money in the form of virtual currency called Swag Bucks. Activities include earning discounts by purchasing products from sponsored vendors, taking surveys, watching videos, and searching the Internet using Swagbucks’ search engine among other things.

Swag Bucks can then be converted into gift cards or received in cash through your Paypal account. I spend a few minutes a day and earn Amazon gift cards every month. You can read my complete Swagbucks review for additional information.

PTC Sites

PTC, or paid-to-click, sites allow you to earn money from home by viewing advertisements. ClixSense is one example

of a legitimate PTC site. In addition to viewing ads displayed on the ClixSense site, you can earn small amounts by taking Surveys and completing micro-tasks or offers.

Read my ClixSense review to see if this approach will work for you.

Become a Freelance Writer

Do you enjoy writing? There are various online sites such as Upwork, Freelancer, and Fiverr where you may be able to find paid writing gigs. Freelancers offer services for a fee and function as independent contractors. In today’s economy, the services of freelancers are very much in demand.

It will take time to establish a reputation in your niche, but over time you can build a clientele and become your own boss. I recommend you explore the opportunities available through the sites listed above. You have nothing to lose because signing up is free.

Virtual Assistants are in Demand

Many businesses are outsourcing administrative and technical tasks to contract employees that work remotely from home. Virtual assistants, or VAs, perform a wide variety of tasks including email management, scheduling, database updates, travel arrangements, bookkeeping and more.

If you have administrative experience and skills, you may be ideally suited to a VA position. Small business owners often need these skills periodically but can’t afford to hire a full-time employee. Websites like Priority VA and Fancy Hands are good places to search for this “virtual” contract work.

VAs may provide services for one or multiple clients. There’s a great deal of flexibility with some contractors working just a few hours per week and others earning a full-time income.

Share Your Knowledge as a Tutor

Are you particularly strong in math, English grammar, science, or maybe history? Connect online with a struggling student at sites like Tutor.com. Experience the satisfaction and personal enrichment of helping others while at the same time earning money to pay your own bills. Put the knowledge you acquired and honed over a lifetime to good use,

Declutter Your Life and Sell Your Stuff

Why not clean out your garage and attic and hoe out the items in your cupboards and closets that haven’t been used in forever but are taking up space? Over the course of decades, we’ve managed to accumulate all of this “stuff” that’s now crammed into nooks and crannies throughout our homes.

Take stock…

Are you ever going to use it again or have you moved on? You could have a traditional yard sale, but we both know you’d get pennies on the dollar for your efforts. Why not try a different tact?

What about creating a seller account on eBay and listing your items for sale in a marketplace with worldwide reach? You can list as many as 50 items per month for free. You have the option of using fixed-pricing or auction-style pricing for your goods.

An amazing array of everyday products is regularly sold on eBay at prices well in excess of typical yard sale prices. I’d give it a shot and at least check out the competition to get a feel for what your aging treasures might be worth. Browsing the site is informative and free!

Start a Blog

Starting a blog can be an excellent choice for earning supplemental income in retirement. This was my personal decision and something I’ve enjoyed immensely. A blog may seem rather daunting but it really isn’t. I’m no technical guru, and most bloggers aren’t. It does require persistence to fill your blog with content and to build a following, but there are a bunch of possibilities once you have traffic.

For example, I’m an affiliate marketer and use my blog to promote some fantastic products. But you can also choose to sell your own products or use your blog to showcase your talents if you’re interested in providing services as a virtual assistant or freelance writer. A blog is a tool for communicating with some of the 3 billion daily users of the Internet.

There are many options today for building a website that includes a blog. I highly recommend an online platform called Wealthy Affiliate because they offer extensive training and all the resources you require to get started the proper way. Best of all, they offer a free Starter Membership that allows anyone a risk-free opportunity to create a website and fully explore blogging with no continuing obligation.

You can read my earlier post, The Best Place to Start a Website in 2017, for additional details on everything included in a Starter Membership.

If you’re ready to get started right away, you can also click the image below to join today and begin your exploration.

 

 

Summing Up

We’ve discussed some great options for how to make extra money in retirement. I sincerely hope that one or more of these tips will work for each of my retiree readers.

 

Like It? Please Share It!

 

If you found this helpful or you know someone else who could benefit from this information, please share it!

More importantly, please ask any questions in the comment section below. I would also love to hear about your experiences with any of the tips discussed or other options I may have missed.

 

 

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