Ways to Supplement your Retirement Income

Money. It doesn’t stretch like it used to. Then again, it probably never stretched that far to begin with, but things certainly seem tighter now. If you are retired, you may be looking for ways to supplement your income. Remember, if you have served your country, you may wish to look into how to increase your VA disability rating, as you could potentially be entitled to more than you think.

Here are some ways to increase your income after retirement…

You may be retired – but you still have skills

Whatever you did before you reached retirement age most likely involved a skill. Some skills will be more obvious than others, with people like ex-carpet-fitters or ex-florists or ex-driving-instructors are still able to charge for their services. However, other skills that you may not think are in demand could earn you a wage and allow you to set your own hours.

Like what, you may ask? Well, let’s say you’re a passionate walker or hiker and you’d still like to get outdoors. This could earn you money as a dog walker. Or let’s say you enjoy baking – which you could do to order. Or maybe you can play and teach the piano. Hobbies and professional skills are a fast way to keep extra income flowing – the only thing you have to do is decide which of your hobbies or skills is most likely going to earn you the most money!

Prefer to take it easy? Buying and selling online may be for you

Don’t worry, you don’t need advanced degrees in business from Oxford and Harvard to buy and sell toilet roll. Or children’s diapers. Or any other commodity that families use up fast. The key is not to focus on high end goods that require a specific market when it comes to buyers, but rather to focus on disposable goods, like hand wipes, for example, which you can buy in bulk, store at your home, and sell online via a simple eBay account (other online marketplaces are available). Be sure to keep your orders up to date, however, as a poor record with your customers can lead to poor reviews, which could hinder your efforts to keep your fledging home business afloat.

Do the things nobody else wants to do

Look around your neighbourhood. Overgrown lawns, bins left out, clogged gutters, dirty windows, seedlings growing up between the brickwork on the driveway. People work all day and come home with tired eyes and hungry bellies. They do technically have the time to maintain their homes and gardens, but they’d rather spend it doing fun or relaxing things. This is where you come in. Sort of like having a neighbourhood handy-person, you could list all of these things in a simple document, hit print on your computer, and post your services through letterboxes. You could charge what you like for package deals or one off jobs.

You wouldn’t have to charge much per task – low prices attract the most business, and where 20+ houses are paying you for your time, you may be surprised at how much you can potentially earn.

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