How to Make Money as a Retiree in 2020

If you think most retirees 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 in the United States are choosing to continue working. In this post, I have shared some of the best ways a retiree can make money.

1) Buy and Sell Items Online

Some may view this field as oversaturated by people wanting to make a quick buck, there are still plenty 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 it’s possible to make money by renting out one of the spare rooms in your home? And you don’t even have to worry about subletting. 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 a physical job is not possible anymore, or you prefer to have a more comfortable life after retirement, blogging can be a great option. Although, you typically 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. Students are looking for people like you who can share knowledge for an affordable price.

5) Work in a Call Center

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.