Retirement Jobs From Home

Home office
Photo by Roberto Nickson on Unsplash

For many an important part of the retirement life is not having to face the daily commute.  Luckily there are lots of ways to make some income that don’t involve leaving your home.  Like many retirement sources of income many are little businesses rather than traditional jobs.  Here are some to get you thinking.

Ebay Seller

Selling on EBay has to be one of the older ways to make money online for ordinary folks.  While EBay has changed if can still be a reliable source for a temporary or permanent income stream.

The basics are the same.  Look around your house and see what you might sell.  Most households have at least some things, even those that have pared down their belongings before.  See what makes sense.  Old Lawnmowers are difficult to ship and might be a better candidate for Craigslist!  Then you can expand by finding things that you can buy and resell for a profit, all from the comfort of your desk.

AirBNB

AirBNB shows up on many “Make extra money” lists, and for good reason.  People all around the world are renting out their spare room to make a little extra money.

Those spare rooms left after the kids moved out might be worth much more than you expect on a nightly basis.  It helps if you happen to be near a tourist area, but the system works almost anywhere.  Many business travelers prefer AirBNB to traditional hotels and this creates a market almost anywhere.

Your AirBNB business (and it is a business) can take many forms.  You need to cover the basics – a clean and relatively quiet spot helps.  You need to decide what amenities you offer.  Many customers like to socialize a bit and AirBNB people say they enjoy meeting all the new people.

Article and Blog Post Writer

Almost anyone with reasonable writing ability can write an article and these can be turned into another income stream.  The Internet and most websites starve for quality content, and retired authors can help fill that need.

The difficult news is that there is a lot of competition out there that has really lowered payment rates for writers.  The good news is that there is a huge need so if you can find a way to differentiate yourself there is still a demand with reasonable income.

Fiverr Service Provider

Fiverr started out as a website where people could supply all kinds of services for $5.00.  It has evolved into more than that, but the basics are still the same.  Take a look at the site and see if there are services that you could provide.  The trick is to find services that are in demand but where you can still make a reasonable profit.

Pet Sitter

People love their pets.  When they are away they need to decide what to do.  This is a real problem for them and an opportunity for retired people looking for income.  Some pets do fine when they are boarded at kennels.  Others are more spoiled or don’t handle the noise and commotion of a kennel.  This is where a pet sitter comes in.

Of course, if the point is to stay at home it means you will care for the pets in your own home.

Selling Crafts

Selling crafts from home is one of those things where you can do it because you love it and want to make a little money, or purely as a money-making opportunity.  Most crafts take time and if you figure out your hourly income it is sometimes difficult to justify purely from a financial standpoint.  But there are exceptions.  You have to figure out something that people want and are willing to pay for, but can be made efficiently.

Web Designer

There was a time when almost anyone could study a few books and hang out a shingle and call themselves a web designer.  While those days are mostly done there are still opportunities.

Knowing how to design web sites is a skill that is so useful that almost everyone should learn it.  Websites are a requirement for many income sources and that provides an opportunity if you have the skills.

WordPress is a good place to start and getting a basic website up and running is not difficult.  Learning the details and keeping up with upgrades and latest plugins can make your skills much more valuable.

Virtual Assistant

Virtual Assistants first became popular back when small online business owners figured out they could hire assistants offshore for a fraction of what it costs to hire an employee.  Virtual assistants can theoretically handle any task that can be done via the phone and Internet.

Good Virtual Assistants work hand in hand with the business owner or manager.  They are proficient with office applications, searching and using the internet, and accomplishing all kinds of tasks via the Internet and phone for the owner.  There are lots of articles out there about how to find a good Virtual Assistant.  Look at these as a guide to setting up your own VA business.

YouTube Creator

YouTube has taken the world by storm and you hear about people having their own channel with millions of subscribers.  Can you be one of them.?

There are several strategies that can be used on You Tube, but most involve getting viewers first.  Then strategies revolve around:

  • Advertising
  • Influencing
  • Partnering
  • Selling stuff

The key seems to be consistency and really caring about what you are talking about.

Equipment for your videos is like photography.  You can start out simply with just your cellphone or you can spend thousands on the best and latest.  It seems the first place to splurge might be a good microphone.

Online Course Developer

As a retired person you probably have knowledge gained over many years of experience.  Why not create an online course?  There are multiple online platforms that will host your course for a share in the profits.  And there are online courses that teach you how to create online courses!

There are so many ways to make income from home these days.  You are limited only by your imagination!

Retirement Calculators

Dow Jones Stock Graph
Photo by Markus Spiske on Unsplash

Do you need some help planning the financial side of retirement?  There is no shortage of online calculators to give you a hand.  Below are 10 examples and there are many more if you search.  They each appear to have their own “spin,” which makes it useful to try a few different calculators.

Vanguard

https://retirementplans.vanguard.com/VGApp/pe/pubeducation/calculators/RetirementIncomeCalc.jsf

Vanguard’s calculator collects some basic information and then shows a graph of where you are versus what you will need.  I like the way the graphs change instantly as you adjust the numbers.  It allows you to try different scenarios easily.

Bankrate

https://www.bankrate.com/retirement/calculators/retirement-plan-calculator/

Bankrate collects your info and produces a graph of how long your money will last after retirement.  If you are not saving enough it is kind of depressing to see your money drop to zero while you are still alive.

Nerd Wallet

https://www.nerdwallet.com/investing/retirement-calculator

This one asks for some simple info and then projects what you will have versus what you will need.  It can be an eye opener.

Schwab 

https://www.schwab.com/retirement-planning-tools/retirement-calculator

Schwab’s calculator is pretty robust.  One thing I like is that it allows you to input your investment risk tolerance, from low to high.  For example, I tried Moderately Aggressive which assumes 80% stocks, 15% Fixed Income, and 5% Cash investments.

Smart Asset

https://smartasset.com/retirement/retirement-calculator

This calculator is fairly detailed.  It allows you to input both yours and a spouse’s information together.

AARP

https://www.aarp.org/work/retirement-planning/retirement_calculator.html

The calculator is rather detailed with input for you and your partner, and your anticipated lifestyle.  One thing I liked is after you are complete it gives you options as to what to do if you aren’t on track.

Dave Ramsey

https://www.daveramsey.com/smartvestor/investment-calculator

This one appears to be a basic calculator of the balance you will have at retirement.  One interesting item is the “What If?” section that shows the effect of some small changes like eating out less or saving just a little more.

Calculator.net

https://www.calculator.net/retirement-calculator.html

The Calculator.net site has all kinds of calculators.  Besides the calculations similar to other retirement calculators it has some others like “How long will your money last?”  or “How much can you withdrawal after retirement.  These are of interest to those that are close to retirement or already retired.

Merrill (Bank of America, formerly Merrill Lynch)

https://www.merrilledge.com/retirement/personal-retirement-calculator

Merrill’s calculator goes through a series of easy screens to make its calculations.  One variation from some of the others is that it allows you to adjust the amount you will spend in retirement, from 60% to 110% of your current salary.

Fidelity

https://www.fidelity.com/calculators-tools/retirement-calculator/overview

Fidelity offers a variety of retirement related calculators.  You can spend hours playing with the calculators and reviewing the guidance.  Not surprising that they have a nice collection.  I personally like them as a broker for stock investments because of the very complete range of information they provide on individual stocks and investments.

The different calculators each have their own twist on retirement calculations.  The nice part is they are all free so you can experiment as much as you want.

Retirement Jobs for Seniors

Retired Person Working
Photo by Jeff Sheldon on Unsplash

Most people will want to work some after they retire.  Many will do it for additional income, but it also provides a source of purpose and social interaction.  Today there are many more opportunities than even a few years ago.  Below are some ideas to get you started.

Article Writer

Almost anyone with reasonable writing ability can write an article and these can be turned into another income stream.  The Internet and most websites starve for quality content, and retired authors can help fill that need.

The difficult news is that there is a lot of competition out there that has really lowered payment rates for writers.  The good news is that there is a huge need so if you can find a way to differentiate yourself there is still a demand with reasonable income.

Elder Babysitter

For many a babysitting gig was their first stab at making money.  And you learned a lot from it.  You had to be reliable and sell parents that you were responsible.  Hopefully if you were good you got referrals.

The same principals hold true for elder babysitters.  There are many older people being cared for by caregivers that need a little companionship and help.  I have personal experience with this when I was caring for my out of state Dad.  I spent as much time with him as possible but really appreciated it when I found someone to spend time with him a few days a week.

Consultant

Consultant is one of those catch all phrases that can mean a lot of things.  A Consultant might be somebody who builds basic web sites for $20 an hour, or a famous management consultant that charges $5000 an hour and is booked for months in advance!

Almost every retired person has knowledge of some subject, and if there is a demand for that knowledge an income stream as a consultant is a possibility.  One misconception is that you need to be an expert in all areas of your subject.  What you really need is just enough knowledge to be useful to others and to be honest about the limits to your knowledge.

Pet Sitter

People love their pets.  When they are away they need to decide what to do.  This is a real problem for them and an opportunity for retired people looking for income.

Some pets do fine when they are boarded at kennels.  Others are more spoiled or don’t handle the noise and commotion of a kennel.  This is where a pet sitter come in.

There are many different levels of pet sitting – everything from a single day to much longer periods of a month or more.  Some sitters stay in the owner’s house.  Others just visit a prearranged number of times during the day.

House Sitter

People with a nice home worry who will watch it when they are away.  This presents an opportunity for another income stream for retired people.

House sitting mixes great with other income streams.  You can write or do almost any activity over the Internet while you are house sitting.

Tour Guide

I often see Tour Guide mentioned as a part time gig for retired people.  This makes perfect sense.

It helps to have knowledge and an interest in the subject of the tour, but after that there are many possibilities.  Here are some:

  • A museum guide
  • A Historical Site guide
  • A regional or national park guide
  • Special events
  • Your own tours business, based on your knowledge of an area

Coach

You see coaches of all kinds everywhere.  Odds are if there is any part of your life you wish to change or improve there is a coach available to assist you.  Retired people have a lot of life experience.  Why not become a coach in an area you know. You can help someone and create an income stream for yourself at the same time.

To get an idea of coaching possibilities just search online and see the huge variety.  Sometimes people just need a little organization, some encouragement, and accountability.  Think about areas in your own life where you have been through a tough time and survived, or simply have a lot of experience.  You might be a coach for that kind of problem or those wishing to improve their lives in those areas.

Contract Worker

This kind of job is usually full time for a set time period.  It works great for retired people who may appreciate having time off in between jobs. It is common in the software development world.  It can pay hourly or be a set amount for a set period of time.

This job is like a consultant.  Normally although it is full time it doesn’t usually include any benefits.  For this reason it should pay better than a full time job with benefits.

Seasonal Worker

This is almost like a contract worker except as the name implies the work changes with the seasons.  Christmas help is the obvious thought here but there are seasonal workers needed for summer jobs like park workers, beach resort workers, etc.  Even in winter there is a need for help at ski resorts and southern beach resorts to service all the vacation visitors from the north.

I’ve only scratched the surface of ways for retired people to make additional income.  Find your own ways and maybe have some fun and make new friends in the process.