Passive income accumulates while you relax. (Getty Images) Share on Google Plus Privacy Policy
About On Retirement If you can sew, bake, work with wood or otherwise create something someone else would buy, you can make money selling your wares online, at craft fairs or even from the end of your own driveway. Once you build up some word-of-mouth, customers will come to you.
401(k) Mistakes to Avoid You might be able to lend your expertise to your former employer or other companies in the industry to make some extra cash. Let your former colleagues know that you would be open to taking on contract work when a need arises.
Health 2. Invest in dividend stocks. You can keep investing throughout several decades of retirement, and you should keep an eye on your portfolio to make sure it’s performing well. Dividend stocks provide current income and have the potential to generate capital gains. They will start paying you right away, and can be a good way to generate extra income in retirement. Of course, dividend payments could be reduced or eliminated if the company isn’t performing well. Owning a variety of different dividend stocks can help to mitigate some of the risks.
Create a retirement that is sustainable and financially secure.
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Passive Income for Seniors

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Try out a hobby job. The High Costs of the Retirement Dream Save for retirement by implementing an investment plan that meets your specific goals.
Emily Brandon | June 28, 2018 Abby Hayes is a freelance blogger and journalist who writes for the personal finance blog, The Dough Roller, which covers topics ranging from credit scores and banking to how much money you should be saving. Abby has written on behalf of Dough Roller for Credit.com and Mint.com. She has been writing about personal finance for seven years, but also covers topics as diverse as bowling, credit union management and parenting.
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Kathleen Peddicord | June 26, 2018 10 Ways to Make Extra Money in Retirement Buy and Hold Strategy
Privacy Policy Money » News & Opinion People in their 60s and older often have the ideal combination of attributes to launch a business, including experience, an extensive social network and a working knowledge of the products or services people who work in your industry need. Just don’t invest money that you can’t afford to lose in a business.
You might be able to lend your expertise to your former employer or other companies in the industry to make some extra cash. Let your former colleagues know that you would be open to taking on contract work when a need arises.
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You have a lifetime of accumulated possessions clogging up your garage, attic and basement. Clear out those spaces and see what items you can sell. You can try a traditional garage sale or write up a description and sell it on Craigslist, eBay or another website.
Post on Twitter Some retirees earn an extra stream of income by renting out a property they own. But you have to be ready to do the work of finding tenants and maintaining the building, or to share the profits with someone you hire to take on those chores.
Credit Cards By Kathleen Garvin, Contributor |Feb. 6, 2018, at 3:47 p.m. Advertise Health You don’t need to keep working to generate these sources of retirement income.
Emily Brandon | July 17, 2018 A little effort up front could set you up with a steady retirement income stream. Shop around for a better interest rate on your savings account or certificates of deposit and get rid of high-cost investments that are reducing your returns. Make sure that your savings is earning as much for you as it can.
House-sitting stretches nest eggs by combining two big retiree expenses: travel and housing. (Getty Images) 4. Try peer-to-peer lending. This is a newer way to invest your money for more immediate income. You can lend to others through lending cooperatives like Prosper or Lending Club. You’re basically becoming the bank for someone who needs to borrow money. With peer-to-peer lending, you take on higher risk, but also have the potential to reap higher rewards. The interest rates you can charge are higher than what you are likely to receive from a bond or certificate of deposit, and you’ll often get your return on the investment more quickly.
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Emily Brandon | June 25, 2018 The 10 Most Rapidly Aging States 1. Rent out your property. Whether you buy a second property or rent out space in your own home, becoming a landlord can be a good way to generate passive income. Keep in mind, though, that becoming a landlord could also be a very active endeavor. Finding renters and maintaining a property can take a considerable amount of work. It all depends on how you structure things. One way to avoid the potential stressors of renting out a property is to hire a third party to manage the property for you. This will, of course, eat into your profits. But it will also let you make money from your rental properties with very little time investment during retirement.
Passive income is often generated by a rental property or a business that you own but don’t actively participate in. However, you may already be generating a passive income by investing. When you make good investment choices, your money generates more money with zero to very little effort on your part.
Save for retirement by implementing an investment plan that meets your specific goals.
You can rent out a room in your home to vacationers looking for a unique and affordable place to stay or offer to taxi people to the airport in your car. A variety of online companies can help connect you to people who want these and other services you might be able to provide.
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[See: 10 Tips for Working in Retirement.] Money » Law Firms Setting up a bank account abroad requires significant paperwork and answering some personal questions.
Load More Privacy / Terms & Conditions Buy and Hold Strategy Shop around for a better interest rate on your savings account or certificates of deposit and get rid of high-cost investments that are reducing your returns. Make sure that your savings is earning as much for you as it can.
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Health Deal With a Financial Emergency in Retirement If you’re looking to pad your bank account or stretch your retirement savings without working longer hours, passive income could be a good option for you. Passive income is money you earn that isn’t directly tied to the hours you work.
Spending 4 Ways to Create a Passive Income in Retirement If you can sew, bake, work with wood or otherwise create something someone else would buy, you can make money selling your wares online, at craft fairs or even from the end of your own driveway. Once you build up some word-of-mouth, customers will come to you.
4. Try peer-to-peer lending. This is a newer way to invest your money for more immediate income. You can lend to others through lending cooperatives like Prosper or Lending Club. You’re basically becoming the bank for someone who needs to borrow money. With peer-to-peer lending, you take on higher risk, but also have the potential to reap higher rewards. The interest rates you can charge are higher than what you are likely to receive from a bond or certificate of deposit, and you’ll often get your return on the investment more quickly.
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