50 Connect | 8 Unique Ways of Making Money in Retirement
8 Unique Ways of Making Money in Retirement
Posted on: 02 September 2016 by Ashley Mills
If you have recently retired, you’ll know how important it is to stick to your monthly budget.
Unfortunately, your retirement fund isn’t a bottomless pit, and overspending means you could struggle in the future. Whether you're looking to save some money for a rainy day or splash out on an around-the-world holiday, here are some unique ways to boost your income during retirement.
Get a better interest rate
As you get older, you’ll want to keep a handle on your savings and make your money work for you. Shop around for the best interest rates and distribute your savings across bonds, savings accounts and high-interest accounts to maximise your return.
If you like a good flutter on the horses, then you may find that your savings are slowly dwindling away. However, it is possible to make money through matched betting - a form of betting that isn't really betting at all, at least in the gambling sense - by signing up to a reputable website in this field like Profit Accumulator. Indeed, many customers manage to make hundreds of pounds a month with relatively little effort.
Sell your old stuff
Having a spring clear out and getting rid of some of your unwanted items is a great way to add some money to your bank account. Whether you decide to stop by a car boot sale or sell your wares on the Internet via a site like eBay, you can be almost certain that you’ll eventually find a buyer for your unwanted furniture and clothing.
Start your own blog
If you have a lifestyle worth sharing or insights to give on particular topics, starting your own blog is a great way to make some additional money and have a fun time in the process. Many bloggers let advertisers buy space on their website or accept free gifts in exchange for reviews or mentions, so the opportunities are endless.
Green fingers? You could sell your fruits and flowers at farmers markets, garden centres or even set up your own stall outside your home. Alternatively, you could offer your services to neighbours and friends who don’t have the time – or the passion – to maintain their own gardens.
Helping busy parents by offering your time is a great way to add some welcome funds to your bank balance, while allowing you to have some fun with the younger generation.
Share your knowledge
If you were formerly a teacher, musician or business executive, you could use your spare time to teach a young person looking to develop their skills. Piano classes, business lectures and one-on-one teacher training classes can all bring in a healthy post-retirement income, and you can pass on your knowledge to others.
Rent out your property
Have you got a lot of space or an extra home? Renting out your property or converting it into a holiday cottage can be a great way to enjoy a guaranteed monthly income, while maintaining a valuable asset that you can pass down to your family and friends in the future.
By following some of the money making strategies in this guide, you will be able to enjoy your retirement to the full, whether that means saving for the future or living a little more comfortably every day.