[See: 10 Tips for Working in Retirement.] Kathleen Peddicord | June 26, 2018 Advertising
Investing 101 Rachel Hartman | June 27, 2018 Make smart, careful moves to cover unexpected expenses in retirement. Employment 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.
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Real Estate 1. Use cash back apps. Some apps allow you to earn money back on items you buy. For regular purchases like food, this is a great way to bring in some extra cash as you shop for necessities. Once you download the app and follow the instructions, you may receive a portion of the purchase price back. Other services allow you to earn cash back on your online purchases. You’ll want to make your shopping list ahead of time and stick to rebates for items you actually need to avoid overspending.
When only one spouse retires, you need a plan to live on a single paycheck. Get more for your money. Press
Recommended Articles Advice [Read: 6 Ways to Diversify Income Streams in Retirement.] 6 Common Myths About Estate Planning House-sitting stretches nest eggs by combining two big retiree expenses: travel and housing.
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.
Sponsored by Travel Law Firms Aging Best Mutual Funds 6 Ways to Earn Passive Income When You’re Retired Debt Retirees have many opportunities to earn extra spending money with minimal effort. (Getty Images)
House-sitting stretches nest eggs by combining two big retiree expenses: travel and housing. IRAs The 10 Most Rapidly Aging States Advertising
Retirees have many opportunities to earn extra spending money with minimal effort. (Getty Images) 4 Ways to Create a Passive Income in Retirement
Contributors have expertise in areas ranging from personal finance to retirement lifestyles, and include Live and Invest Overseas, Good Financial Cents, The Money-Guy Show, Retire Before Dad, Social Security Teacher, My Lifestyle Career, Retire Fabulously, The Dough Roller, and Sightings at 60.
Spending [See: 10 Ways to Reduce Your Housing Costs in Retirement.] Real Estate Terms and Conditions
Emily Brandon | July 17, 2018 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.
However, passive income has many benefits for retirees. It can provide you with the security of an additional income stream. You also have the freedom to pick the hours and projects that fit your lifestyle.

Passive Income for Seniors

Make smart, careful moves to cover unexpected expenses in retirement. Emily Brandon | June 28, 2018 Advice 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.
Best Stocks Make sure your unused retirement savings are passed on to your intended heir.
Retirement doesn’t necessarily mean you will never work again. Aim to find a part-time job that suits your interests, such as working at a golf club, wine shop or museum. Throwback Thursday: News You Can Use
Recommended Articles Advertising Tap into the sharing economy. 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.
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.
Copyright 2018 © U.S. News & World Report L.P. × 5. Put ads on your car. Imagine making extra money as you drive around town. Carvertise pays approved drivers to place removable advertisements on their vehicles. Typically, drivers need a clean driving record and must be on the road a certain number of miles a day. If you drive a lot in retirement, this gig could defray some of your travel costs.
Tags: retirement, money, second careers, income Medicare won’t cover you abroad, so you will need to purchase another health insurance policy.
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Newsletters 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.
Advertise 3. Create a side business. Creating a side business during retirement can be a good investment of your time early on, especially if you start the business with a plan to turn it into a passive income stream in a few years. Whether you run a local brick-and-mortar business or a website, you should start with the goal of eventually hiring others to run the business for you.
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BACK IRAs Interviewing Retirement doesn’t necessarily mean you will never work again. Aim to find a part-time job that suits your interests, such as working at a golf club, wine shop or museum.
Globetrotting on a Fixed Income 6. Start a blog. If you have a niche topic you want to write about, consider starting your own blog. In addition to writing about subjects you’re interested in, you will need to create a community and build a following. Once you’re up and running, you can look into running advertisements on your blog or making money with affiliate links. However, the Federal Trade Commission has strict guidelines regarding advertising on the web, and you must disclose if you could make money off a link on your blog. You can also offer sponsored blog posts, courses and ebooks on your site to create additional revenue streams.
401(k) Mistakes to Avoid 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.
Email Search Job Openings Here’s how to get rid of excess stuff as you transition into retirement. [See: 10 Costs You Can Eliminate in Retirement.]
Money Copyright 2018 © U.S. News & World Report L.P. Sponsored by You might need to commit time and energy upfront before seeing the fruits of your labor. Depending on the gig, it could take weeks, months or even years to set up a reliable passive income stream. Passive income earnings can also ebb and flow, and the IRS will take a cut for taxes.
Share your knowledge. Retirement Savings Ahead of the Curve? Rethink the $1 Million Goal to Retire 8 Myths About Annuities in Retirement 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.
Part-time employees can earn more than $20 per hour in these positions. Investing Best Stocks
Travel Taxes Debt Almost every neighborhood has busy working people who could use help walking their dogs or watching their pets when they go out of town. And plenty of overwhelmed parents who need baby-sitting help likely live on your block. Let your neighbors know you’re available and interested in this type of work, and your phone will start ringing.
Best Jobs Share on Google Plus By Kathleen Garvin, Contributor |Feb. 6, 2018, at 3:47 p.m.
Kathleen Garvin is an editor at The Penny Hoarder. Best Stocks Some 401(k) plans offer better benefits to plan participants than others.
Prepare for One Spouse’s Retirement Tom Sightings | July 13, 2018 IRAs Travel Emily Brandon | June 28, 2018
Medicare Some 401(k) plans offer better benefits to plan participants than others. Investing Share on StumbleUpon
Rachel Hartman | June 27, 2018 Popular Stories Hidden Fees to Be Aware of in Retirement Spending
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.
Whether you are a teacher, musician or business executive, there is often money to be made passing your skills on to the next generation. You might be able to tutor children in math or coach small business owners to better manage their company.
Popular Stories Personal Finance 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.
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