Many workers dream of retirement as the time to stop working and enjoy a life of leisure. But others view retirement as the time they can finally choose what they want to do and explore their passions.
In many cases, following your passions while “retired” actually can lead to additional income as well. Since the old adage says that “you’ll never work a day in your life if you do what you enjoy,” many retirees are more than happy to “work” at their passion projects.
Finally Work Part-Time in Your Dream Job
Although it would be nice if everyone could spend their whole career doing what they love, the reality is that most people take jobs for reasons other than love. High pay, opportunities for advancement, benefits and other perks are major factors in choosing a career, and sometimes sacrifices have to be made.
But, once you’re retired, those obligations dissolve away. Now, you can choose to work at a place more in line with your sensibilities and desires, whether it’s at a model airplane shop or in a national park. Part-time work in these types of occupations while retired can bring both personal fulfillment and an additional source of income.
Serve as a Consultant
Over your working career, you’ve likely developed skills and talents that far exceed those of many current workers. In fact, some companies may view your knowledge and insight as extremely valuable. By choosing to work as a consultant, you can share your know-how with people who need it and likely get paid handsomely for doing it. You’ll likely also derive satisfaction from remaining, to some degree, in your chosen field.
Sell Items on eBay or Etsy
Once you’re retired, you’ll likely find yourself with plenty of things you no longer need. This is particularly true if you have kids who have moved out of the house and/or if you live in a bigger home than you need.
Check out all the nooks and crannies of your house for things you likely forgot you have and see whether there is a market for them on sites like eBay or Etsy. You may be surprised at how much interest others have for things that you may consider to be unnecessary.
Teach Remotely
Teaching in a classroom is a difficult job at any age, but traveling to and from a school and teaching in person doesn’t sound like a relaxing retirement for most people. However, if you are knowledgeable and enthusiastic about teaching, you can get the same benefit without having to endure the hardships by teaching remotely. Simply by logging into your computer you can connect with individuals or groups who will pay you to teach, whether you teach a foreign language or a trade.
Start a Business
A final option for a retiree to generate extra income in retirement is to start a business. While forming a business doesn’t sound like retirement to most people, if it’s something that you truly enjoy and have always wanted to do, it can be a pleasure. While you probably don’t want to be trying to create the next Fortune 500 company, running a small local business creating or selling items you enjoy can be a great and profitable diversion in your post-career days.