Retirement means no formal job, which means no steady income. How will you keep paying the bills that need to be paid once you step into retirement? Consider getting back to your hobbies and monetizing them.
Hobbies play an important role in life. As a child, they teach you valuable lessons such as patience and perseverance. Mastering a hobby leads to confidence. As an adult, having and sticking to a hobby proves beneficial in the way employers perceive you. They believe having a hobby shows passion and determination.
As a retiree, finding a productive way to fill your time makes all the difference for a happy retirement. What better time to get back into something you love than now? And what better way to create income than by doing something you wholeheartedly enjoy?
Health Benefits Of Staying Active And Engaged During Retirement
A hobby that involves physical activity is a great way to stay in shape and slow down the body’s aging process.
The mental benefits of a hobby should not be overlooked. Keeping your mind sharp by problem solving is a major benefit of hobbies. A healthy mind is just as important as a healthy body.
Here Are A Few Ways You Can Monetize Your Hobbies And Make Extra Cash During Retirement…
1. Woodworking
Earn a buck or two making furniture for people. Bookcases, shelves, storage boxes, and coffee tables… there’s a market for homemade furniture.
Much of today’s cheap furniture isn’t built to last. If you can produce well-made goods, you will be able to find a market. Start by visiting a local wholesaler and find out if there’s any product they’re currently buying that they would like to get at a higher standard, or if there’s anything else they’d like to purchase but can’t seem to find.
2. Writing Or Editing
The internet has opened up a world of opportunities for writers and editors. You can now work remotely, making this a perfect way to earn money during retirement.
Proofreading and editing copy offers you the chance to work as many or few hours as you want per day or per week. You can find work producing copy for companies across the globe from you or for businesses right next door.
If you’re a writer, you could also make money by setting up a blog. Write content about topics that you find interesting and that is in demand so that you can start to build an audience.
Advertisers will pay good money for space on your page. If you make your blog interactive, you could build an online community of expats where you live or even worldwide. This is a fantastic way to meet other retirees, too.
3. Sewing
Repair clothes or sew new clothes. There are still people who prefer to re-stitch damaged clothes rather than throw them out. You may even find people who are looking to buy a custom-made dress or outfit.
Specializing is a great way to find a market niche. You could make clothes for dolls or pets or sew cushions, quilts, or make handbags out of jeans or used shirts, and more.
Teaching people to sew is another way to make money from this hobby.
4. Sightseeing/Tour Guide
Being a tour guide is a fun and active way to make money in retirement. Local knowledge goes a long way.
People take short holidays and try to cram in as much as possible. If you’re a retiree in a tourist destination, chances are you know all the must-see sites. If you can show visitors around in an effective and enjoyable way, your services will be in demand.
You can start by creating a page online and make sure people leave reviews. Your sightseeing business will grow in no time.
5. Teaching
Teaching is one of the most rewarding experiences.
Many expats who retire overseas choose to teach English. Teaching experience isn’t required, and all you really need is a laptop to get started.
If you move to a country that doesn’t have English as its first language, you can advertise your classes in colleges and universities. You will find many people who are interested in learning. Online message boards are another place where you can find students.
If you have teaching experience, you could tutor students or even teach adults.
There are no startup costs. You can teach from your house or travel to meet your students at a café, restaurant, library, or their house.
6. Selling Goods At Local Markets
One for people who don’t mind early starts… Selling goods at a farmers’ market is a great way to organically grow a small business.
There’s a long list of items you can sell at the market. Baked goods such as cookies and cakes always do well. If you have a vegetable garden or fruit trees, you can sell your own organic produce. You could even take it a step further and make jams, pickles, and preserves to sell.
If you set up a food truck, you can sell burgers, sandwiches, fruit juices, or smoothies at the market.
Do your research to find out what the market lacks and aim to fill that void.
7. Yoga
Yoga is becoming more popular each year. It’s typically associated with spirituality, but there are other reasons to join this practice. The benefits of increased flexibility, balance, and strength (lean muscle) help people feel younger. Yoga helps you develop self-reflection and self-awareness. In today’s hectic world, these skills are especially valuable.
Over 36 million people in the United States do yoga, and this popularity is reflected throughout the world. An experienced teacher will be able to make money anywhere in the world through yoga. Expenses are minimal, too, making it a profitable hobby to monetize.
