Retirement Hobbies That Can Actually Make You Money
Whether it's painting, joining a walking club, gardening or pickleball, hobbies can be a great addition to your retirement. They structure your schedule and widen your social circle. But sometimes, they can also result in extra cash.
In retirement, you’re not necessarily looking to replace your salary, but earning some income can be a way to preserve your nest egg.
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How to make extra cash with a hobby
You don’t have to stop earning money once you step away from your nine to five. Hobbies can offer revenue potential while allowing you to pursue activities that you enjoy.
Here are four hobbies you can explore that can also grow your income.
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1. Selling your crafts
Platforms like Etsy let people sell handmade goods and build brands around their products. If you make crafts you think others would enjoy, like knitting or specialized woodwork, consider selling your products online.
You can also sell your handmade products at local fairs. They might have smaller audiences, but you may get to meet new people in your area and build rapport with customers in a way that you can’t with online-only transactions.
2. Specialized consulting and tutoring
If you recently stepped away from a career, you probably have developed skills throughout your life that other people would pay to learn. You may have a knack for certain school subjects or can provide career advice. People also pay for language tutors and writing help.
The pay scale for tutors varies greatly. The more niche your area of expertise is, the higher you can charge for your services.
3. Pet and housesitting
Pet and house sitting are great ways to earn some extra money — and they often don’t require too much work. Plus, they give you the opportunity to explore a new neighborhood via house sitting and be around pets without the long-term responsibility of owning one yourself via pet sitting.
You can start by pet sitting one animal at a time, but some pet sitters take care of multiple pets simultaneously. Taking advantage of seasonal trends, like increasing your offerings during the summer when most families are going on vacation, can help net you extra earnings.
Instead of taking the pet to your place, a client may prefer that you visit their home a few times and make sure their pets are fed and walked.
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4. Being a local tour guide
If you live in a travel destination with plenty of tourists, you may be able to find opportunities as a local tour guide. Some retirees tap into their local knowledge and guide visitors to historical and culinary sites.
Tour guiding is also a way to get exercise, since it involves plenty of walking.