If you think most people, after retirement, spend their lives relaxing on a beach somewhere in Mexico or Bahamas, you are wrong! Instead of wasting their hard-earned money on fancy resorts, alcohol, and drugs, most elderly of the United States are choosing to continue working. In this post, I have shared some of the best ways an elderly can make money.
The Best Ways for a Retired Person to Earn Money in 2020
1) Buy and Sell Items Online
I know this field is oversaturated by people wanting to make a quick buck, but there are still lots of opportunities to make money by buying and selling items online. You can have your own platform or use popular eCommerce sites like Amazon, eBay, or even Craigslist. In fact, you can get started right away by selling items locally on Craigslist.
2) Rent out one of the Rooms in Your Home
Did you know that now it is possible to make money by renting out one of the spare rooms in your home? You don’t have to worry about subletting. I know how hectic subletting can be.
Platforms like Airbnb and HomeAway allow you to rent out one of the rooms in your home to a registered and verified customer. In return, they charge a small commission (which is generally less than five percent of what you earn).
3) Start Blogging
Are you an expert on something? If going out and working physical jobs is not possible anymore, or you prefer to have a comfortable life after retirement, blogging can be a great option. Although, you need to have expertise in at least one field.
The best strategy would be to write about whatever industry you worked in. Try to help out those who are new or struggling to succeed. Once your blog gains some traction, you can monetize it with ads, affiliate products, or can opt to sell your services.
4) Teach Online
Teaching online can also be a lucrative business opportunity as a retiree. With the wealth of experience and knowledge you have gained over the course of your life, you can mold and shape the lives of others. You can either pick an academic subject or a professional skill. Learners are looking for people like you who can share knowledge for an affordable price.
5) Work in a Call Centre
If running a business is not something you wish to do at this age, you can look for comfortable employment options. Call centers hire people from all walks of life. All you need is a good command of the languages. The more languages you know the better chance you have of getting hired. In addition, you can earn a decent living even after the standard retirement age.
How do most retired people earn money after retirement? The obvious way to earn money for a person with a lifetime of savings in hand is by investing it in an asset. Some elderly buy a commercial property, some invest in stocks, so on and so forth.