Retirement may sound fun in theory. But after several months of doing nothing, it can start taking a toll on your health and bank account. Fortunately, countless activities can keep you busy and even score you some cash.
Below are some profitable ideas to try now that you’ve got all the time in the world.
Become a landlord
Rent out spare rooms at home for some extra income. Take advantage of online platforms like Airbnb to connect you with interested renters. The best part is you’re in charge of everything: pricing, ground rules, and available dates. You can opt to rent out your entire home, offer private areas, or even sublet a room for a steadier profit.
Apart from living space, you can also rent out your car, garage, and any additional storage area. Your rates will likely depend on where you live and the demand for parking and storage within your community. Do your research and take a look at competitor prices. Doing these can help you better understand your market and shape your advertising strategies.
Build a farm
Farming is a great way to enjoy a relaxed, rural lifestyle while staying active and earning income. Starting a small farm allows you to grow your own food and share fresh produce with friends and family. Once you get the hang of it, you can start selling your products at farmer’s markets, restaurants, local food stores, or directly to consumers.
A vast space is not a requirement to get into the agriculture business. If you live in the city or a suburban area, plant seeds in small or vertical containers to make the most of your space. If you wish to expand your farm and maybe even raise livestock, you can always apply for an agricultural bank loan to fund your business.
Start a pet-sitting business
If you love taking care of furry animals, then pet sitting might be perfect for you. Pet sitters look after dogs, cats, and other animals while their owners are away. Responsibilities include grooming, feeding, taking walks, cleaning wherever the pets stay, taking them to vet appointments, administering medication, and providing companionship.
You can earn up to $20,000 annually with part-time pet sitting. Pet owners would wish to find specific requirements, such as a good track record and enough experience with animals. Before accepting the job, ensure that the workload suits your strength, energy, and level of fitness. Pet sitting requires stamina and sometimes heavy lifting.
There are several job marketplaces online where you can create a profile and find clients. You can also post flyers with your contact details at local pet stores and animal clinics.
Offer career coaching services
Career coaches guide individuals in career selection and transitions. You get to share professional advice, conduct practice interviews, and inspire job seekers to achieve their goals.
Most career coaches charge around $100 to 150 per session. You can also set your price based on specific packages. In most cases, a six-month career coaching package starts at $3,000.
You don’t need a professional license or formal training to become a career coach. As long as you have extensive corporate experience, then you’re fit for the job.
Keeping yourself busy during retirement is essential to your long-term wellness. Whether or not you need extra cash, these activities can help you stay active and connected with your community.