How to make money during retirement

1. Personal tutoring

Whether you have a subject you specialised in during your work life, or simply have a life-long hobby that you’re passionate about, one of the easiest things you can do to make money in retirement is to tutor others in the topics you specialise in.

This can be done in person, or thanks to the magic of technology, carried out online from the comfort of your own home.

And this doesn’t just mean tutoring those still in education. You’ll find people from all walks of life ready to learn something new, giving you a great opportunity to socialise, make new friends, and potentially give something back to the community.

2. Freelance your old job

Retirement is no reason to stop doing your old job if you really enjoyed it.

For many professions, with just a laptop to hand, you can easily start freelancing in the same field as before, offering your expertise to those companies that need it while still being your own boss.

As a freelancer, you can set the days and times you work, how much you charge, and which groups you work with, offering you unparalleled freedom when it comes to continuing a job you love.

3. Start a remote job

Alternatively, instead of freelancing, you could find a role doing remote work. This could be in online customer service or a virtual call centre, but regardless of what you choose, you can often do these jobs from home.

Many of these roles are also part-time and offer a steadier income than freelancing, and while you may not get to choose your hours and days, you won’t be going back into full-time work.

4. Rent out your space

Renting is a very easy and simple way to make a bit of extra money during your retirement.

It might be that you’ve got a spare room, garage, or storage space you can let on a long or short-term basis, or it could be a patch in your garden for an allotment - whatever suits you.

Much like tutoring, this is another great way to meet new people and socialise without needing to return to the workplace.

5. Pet-sitting

If you’re an animal lover, then this suggestion might be perfect for you.

From dog walking to looking after pets while their owners are away, pet sitting can be one of the most emotionally rewarding ways to spend your time once retired.

There are plenty of websites and apps out there that make it easy to sign up for pet-sitting, and you’ll no doubt make a couple of furry friends along the way.

6. Paid online surveys

Requiring little more than a quick sign-up online, paid surveys can be a neat way to bring in a little extra cash on the side.

You may have to take quite a few to earn decent money, but each one will add that little bonus to your coffee and biscuits fund.

Please ensure you use a reputable survey website and show caution when sharing any personal details.

The following article from Martin Lewis’ Money Saving Expert website provides some good options.

7. At-home crafting

Much like tutoring, if you have a hobby that you’re deeply passionate about, then in no time at all you can turn this into a new income stream.

Jewellery, art, or even woodcarving, any and all crafts can be sold online using websites like Etsy – all you have to do is sort out the posting.

8. Selling items online

Last, but not least, if you’re looking to declutter your home now that you have the time, there’s more you can do than simply throwing old belongings out or giving them away for free.

If you want to make a little money out of your spring cleaning, you can sell anything you don’t need online on sites like eBay, or you can bring it along to local car-boot sales and pick up a few bargains for yourself while you’re there.