Senior citizens earning extra money in today’s market is it possible? And if so, how do they go about achieving just that?
According to an article I saw on Time.com 1 in 3 Americans retiring have zero dollars in savings. And 56% have less than $10,000 in savings. time.com/money/4258451/retirement-savings-survey/
That leads me to believe that people are going to have to work longer before they retire, or they will need to find other ways on how to earn extra money online or offline.
We all know social security is there for us, at least right now until Congress starts messing with it. However, very few people can count on social security to fund their entire retirement.
In reality, it was never meant to be the only source of retirement funds anyway. I do have some good news in this article though.
You can earn extra money online as an Affiliate Marketer at the end of this article.
When Social Security is not enough for seniors there are some great ways for them to earn money. How much can you earn after retirement?
Let’s take a look!
Ways To Earn Money In Retirement
1, Investment account. A senior can use an investment account to generate more money.
They can set up the investment so they receive the interest every month and will not have to touch the principal investment amount. A financial account advisor can help the senior find the investment account that fits their needs based on how much you have to invest.
2. Internet marketing. Seniors can make money over the internet. For example, they can write articles and stories for freelance companies.
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They can also start a blog and make money when people visit the blog. Seniors can also work as online consultants in their area of expertise. These jobs do not require physical labour and a senior can work around their schedule. I will have more on other ways to make money online below.
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3. Substitute teacher. If a senior wants to get out of the home and have some interaction with others they can work as a substitute teacher.
They can work on the days they want to and can choose to work part-time. In order to do this, they are going to need to have some education in their background.
Some seniors with higher education can work as adjunct professionals. Tutoring is also a popular choice for many seniors. They can help people learn anything from math to giving gold lessons.
4. Make something. If a senior is into crafting or has a talent for making something they can turn this into income.
They can sell everything from crochet to woodworking items. The seniors can sell their craft online or they can work at flea markets.
5. Temp agencies. There are many companies that are looking for temporary workers when full-time employees are out. Seniors can work as temps.
They can make some money and still pick the days that they want to work. Some seniors can even work on a seasonal basis if they want to stay busy.
6. Get a part-time job. Where do you think Walmart got the idea for greeters in their stores. How about seniors who work at McDonald’s on the morning shift!
There are many part-time jobs that are more than willing to hire seniors. You just need to be able to do the work and get your applications out there where employers can contact you.
7. Sell on eBay. One thing about most seniors is they have accumulated a lot of stuff over the years. Most of this is stuff they no longer need. Many people get started selling on eBay just by clearing out unwanted items they no longer need or use.
They then learn how to start their own eBay business in a variety of ways. As a senior, this is something you may want to look into as a way to generate some immediate cash and supplement your retirement income.
8. Consulting. Do you have a level of expertise in something there is a need in the marketplace? You may be able to leverage your knowledge and make money from it.
There are companies who would pay you for what you know. You could also use that knowledge on the Internet to consult or to create a blog and write about what you know.
9. Start a personal service business. There are people in your neighbourhood, or in your city that need help in a variety of ways.
Some of those include walking their dog, grocery shopping, picking up their dry cleaning, housesitting, or just stopping by and keeping them company. All of these are potential business ideas that you could use in your personal service business. You can earn money, providing a valuable service to people who really need it.
10. Affiliate marketing. This is a business model that is done primarily online. This is how I make money on the Internet and I happen to think it’s a great way for seniors to earn extra money in their retirement. I’ve written a lot about this on my blog and you can certainly scan around and find specific articles you find interesting.
Let me just say that Wealthy Affiliate, as an honest reliable source, has a free program you can go and receive training on how to get started in affiliate marketing. Whether you make money by the click, by the lead, or by the sale is up to you.
Once you master a handful of skills, anyone can learn how to do it, you can make money sitting at home, or anywhere you have an Internet connection. Plus you control your schedule as to when and where you work.
Summary On How Senior Citizens Earning Extra Money
These are some ways that seniors can make some extra money and still enjoy their older years. You may already know that 70 is the new 50, or 80 is the next 60, and so on.
Hopefully, you are in good enough health to take advantage of a living loner. However, with that comes the need for more money in retirement.
You can take what you know, or learn some new skills and apply those to earn more money using the Internet. Online it really is possible to teach an old dog new tricks.
And the good thing you can start today part-time before you reach your retirement age.
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