Four ways to earn extra money in retirement

If you have been part of the nation’s workforce for some time, it’s understandable that the thought of retirement can be a welcome one. While work can be a fulfilling practice for many, having the freedom to decide how you spend every hour of the day can be highly attractive. Needless to say, to enjoy retirement to the full, having sufficient funds is essential too.

For this reason, many Australian citizens closing in on retirement consider options that allow them to generate additional income when they no longer have an annual salary. The good news is that there is an abundance of ways to support your savings, pensions, and investments once you retire, some of which allow you to earn money from home.

Read on as we count down four ways you can make some extra money after you retire.

1. Completing paid surveys online

A simple option that requires no specific skills is to fill in surveys online. These days, companies are constantly carrying out market research to understand different demographics and how they can create products and services to attract them.

As a result, you will find that many sites online offer pay in return for completing surveys, which usually feature multiple-choice questions that are easy to answer. While they don’t always offer the highest pay rates, if you are persistent and put in the time, you can accrue some extra cash to help fund your retirement. Only use reputable sites and remain cautious about sharing your personal information online.

2. Personal tutoring

You might have specialised in a subject as part of your professional career, or simply had a personal hobby that you are passionate about. Either way, an easy way of earning additional money during retirement is to become a tutor to others.

While you can perform this role in person, you can also aid your students online via your home computer. Remember this doesn’t mean simply tutoring people who are currently in education. You will find that individuals of all ages and from different walks of life are looking to learn new things about a subject that interests them, and you’ll have an opportunity to earn while you socialise and share your knowledge or skillset.

3. Online selling

There are multiple online marketplaces that allow you to sell items to others who need them. If you are fond of arts and crafts, for example, you could make products of your own to sell, but alternatively, you can put existing items up for sale. Once in retirement, you might find decluttering your home can be helpful to enjoy a cleaner and tidying living space, and online selling will give you the additional advantage of making some extra money from your unwanted items.

If you enjoy the process, you can start buying items to sell from physical marketplaces like jumble and car boot sales or from online platforms. The concept is simple – buy products for as low a price as possible and sell them for more to make a profit. Online marketplaces will allow you to sell or buy products at fixed prices but also at competitive auctions.

4. Taking on writing jobs

Finally, one of the most flexible and fun ways of making money in retirement is writing from home. Today, there is an increasingly heavy demand for content writing to populate company websites and ecommerce platforms. As a result, retirees with good English skills can find jobs penning a diverse range of content, from product descriptions and web copy to press releases and monthly blogs.

You don’t have to have a degree in writing to get hired, nor do you need to have worked as a writer when you were employed. You will need excellent spelling, grammar, and punctuation, and the ability to write well-structured original content. Fortunately, researching articles has never been easier. Online search engines allow you to quickly find the information you need to write with authority on a diverse range of topics.

If you enjoy learning about new subjects, writing work can be highly rewarding. It’s also an excellent option for those looking to improve their abilities and become a better writer. Writing jobs are usually paid by the word, so the longer the articles you write, the more you will receive in your bank account. You will always choose how much or how little you work too, so you can fit the assignments you take on around your other retirement plans. Providing you always submit your work on time to deadlines, you can find a steady stream of work as a reliable writer.

Whether you’re planning retirement or have already stopped working, if you have the skills above, a device to write on and online access, Words of Worth would love to see what you can do. Apply to become a writer with us today and start making money to support your retirement income.

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