Pensions triple-lock ‘right thing to do’ says Altmann
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Setting aside savings is still crucial for preparing for retirement but pensioners may still need to boost their income. Life insurance broker Reassured has come up with eight simple ways to make money during retirement.
If a person has a specialised subject they know about from their working life or a life-long hobby they can help others with, tutoring is an easy way to make money during retirement.
The lessons can be done in person or virtually, providing huge flexibility about where and when they take place.
People from all walks of life may be interested in learning something new, and tutoring provides a great way to socialise and give something back to the community.
Many modern jobs can be carried out with just a laptop to hand, and a person may be able to freelance in the same field as before, offering expertise to companies while still being their own boss.
Freelancers can set the days and times they work, how much they charge, and which groups they work with, offering great freedom when it comes to continuing a job they love.
Start a remote job
There is also the option to find a role doing remote work. This could be in online customer service or a virtual call centre.
Many of these jobs are also part-time and offer a steadier income than freelancing, although they do not come with the same flexibility for setting one’s own hours.
Rent out space
People with a spare room, garage, or storage space can let on a long or short-term basis, or a person may have a patch in their garden for an allotment to rent out.
This is another great way to meet new people and socialise without needing to return to the workspace.
This can include dog walking or looking after pets while the owners are away. This can be an emotionally rewarding way to spend one’s time once retired.
There are lots of websites or apps that make it easy to sign up for pet-sitting, and the person can make some furry friends along the way.
Paid online services
Requiring little more than a quick sign-up online, paid surveys can be an easy way to bring in extra cash on the side. People may have to take quite a few to earn decent money, but each one will add that little bonus to their coffee and sweets fund.
It’s important to use a reputable survey website and show caution when sharing any personal details.
Much like tutoring, if a person has a hobby that they’re deeply passionate about, then in no time at all they could potentially turn this into a new income stream.
Jewellery, art, or even woodcarving, any and all crafts can be sold online using sites like Etsy – once the product is created, all a person has to do is sort out the posting.
Selling items online
There’s more a person can do with old belongings than simply throwing them out or giving them away for free.
Retired people can make some money out of their spring cleaning and sell anything they don’t need online on sites like eBay.
People may be able to make some money out of their spring cleaning and sell anything they don’t need online on sites like eBay.
Phil Jeynes, director of Corporate Strategy at Reassured, said: “The cost of living crisis has broken many people’s retirement plans but rest assured we have some simple ways on how you can continue to make money in retirement.
“And the best part is that you get to decide what you do and how you earn this money.”
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