What Are a Few Retirement Hobbies that Make Money?
Retirement doesn’t have to mean the end of income generation. In fact, many retirees explore new hobbies that can also bring in some extra cash. We asked 10 professionals from various industries to share their suggestions for retirement hobbies that might actually make a bit of money. From streaming games online to offering consulting services, these ideas could help you turn your passions into profits during your golden years.
- Streaming Games in Retirement
- Woodworking for Extra Income
- Teaching Music Lessons
- Investing in Real Estate
- Profitable Pet Sitting
- Becoming an Online Tutor
- Earning Money Blogging
- Offering Consulting Services
- Reselling Items for Profit
- Catering Services as a Hobby
Streaming Games in Retirement
Anyone who’s invested in the gaming industry, even a little, knows that gamers really appreciate older people who discover their passion for games. That’s why people will probably naturally gravitate towards older streamers who just want to have some fun while in retirement. Setting up an account on a streaming platform isn’t hard, and once you get the hang of it, you can even earn a bit on the side.
Natalia Brzezinska
Marketing and Outreach Manager, ePassportPhoto
Woodworking for Extra Income
Thinking about retirement and how to make the most of your downtime? You might take up a hobby that could actually help bring in some extra income. One hobby that fits this category is woodworking.
Many people who have perfected their skills in woodworking enjoy crafting a wide range of items, such as furniture, birdhouses, jewelry boxes, and more. With the right tools and a good eye for detail, you can easily create unique pieces to sell in stores or at craft shows.
Plus, many woodworking projects take little time and effort, so you can enjoy the fruits of your labor without devoting too many hours to it.
Aviad Faruz
CEO, FARUZO
Teaching Music Lessons
Teach piano lessons or some other instrument. One great way to keep your mind sharp after retirement is to play a musical instrument regularly. Whether a fellow retiree is looking to learn now, or parents are looking for a teacher for their child, holding lessons can be incredibly rewarding and make you a bit of cash.
If you can sight-read sheet music, then you can teach someone else the basics and help them get started, just as someone helped you all those years ago. It’s a perfect retirement job because most people who want lessons would choose a time during normal office hours.
Bridget Reed
Co-founder and VP of Content, The Word Counter
Investing in Real Estate
Investing in real estate can be a smart way to generate an income stream. Not only does it generate passive income, but it also offers the opportunity to build wealth.
When done correctly, investing in real estate can provide a steady income that can supplement retirement savings or even create a full-time job. Real estate is an attractive option for retirees because there are many low-cost ways to get started, such as purchasing and managing rental units.
Investing in real estate can also provide diversification to a retirement portfolio and offer tax advantages through depreciation deductions.
Amy Lee
Medical Advisor, Nucific
Profitable Pet Sitting
Many people in their retirement have more free time to help friends and family members look after their pets when they aren’t around. Pet sitting can be rewarding for both the pet and the sitter, but it’s also quite a profitable business. Instead of offering your time for free, it can help to make you some money if you charge for your services.
Pet sitting is becoming increasingly sought after as families are going on more vacations and need someone to watch their pets. If you are retired and like animals, then this can be an easy and fun hobby where you can also pursue a profit.
Allen King, CEO, Fun Join
Becoming an Online Tutor
One retirement hobby that might make money is becoming an online tutor. With the rise of online tutoring platforms, it has become easier for retirees to use their educational background to help others in need and make a few extra bucks at the same time.
This can be done by creating a profile on tutoring websites, creating lesson plans, and teaching students virtually from the comfort of your own home. Although it may require some initial investment in setting up a good gaming website or video-conferencing software, it’s worth considering given its relatively low overhead costs.
Retirees who already have successful careers can monetize their knowledge and experience by mentoring those interested in their professional field.
Julia Kelly
Managing Partner, Rigits
Earning Money Blogging
Blogging is an excellent retirement hobby that can actually make a bit of money. It allows retirees to share their knowledge and experiences with the world while earning an income. With minimal investment and maximum creativity, retirees can create a blog on any topic they are passionate about—from cooking, gardening, and traveling to parenting.
They can monetize their blog through various methods, such as affiliate marketing, sponsored content, and advertising. By consistently publishing quality content and building a loyal readership, retired bloggers can earn a significant income while doing something they enjoy. So, if you’re looking for a profitable hobby to pursue in retirement, blogging might be worth considering!
Basana Saha
Founder, KidsCareIdeas
Offering Consulting Services
Retirees who have expertise in a particular field can offer their services as a consultant to businesses or individuals in need of their expertise. They can offer their services online or in person and can work on a project-by-project basis or on a retainer.
Nick Edwards
Managing Director, Snowfinders
Reselling Items for Profit
After working hard, retirement is a time to unwind. Some retirees may have additional time and need a new activity. Instead of a pastime that costs money, why not one that makes money? Reselling is one.
Reselling means buying cheap and selling for profit. eBay, Amazon, flea markets, and garage sales are all options. Retirees can resell clothing, gadgets, and antiquities from their homes. Many retirees have a house full of unwanted goods. Reselling these items makes money and organizes their home.
Reselling requires research and market knowledge. Determine popular goods and their pricing. Get offers and discounts to buy these things cheaper. Shipping charges and selling platform fees might reduce revenues. Reselling can help retirees generate additional money, but it’s not a sure thing.
David Reid
Sales Director, VEM-Tooling
Catering Services as a Hobby
If a retired person possesses a passion for cooking and aspires to transform culinary skills into a professional and profitable endeavor, offering catering services may be the perfect option. The opportunities for success within this field are vast, ranging from selling gourmet creations at local farmers’ markets to catering to events such as corporate meetings, weddings, and conferences. It also covers offering services to individuals, families, students, or employees who lack the time or talent to prepare meals.
A business plan may be centered on selling meals on a daily subscription basis, or both. It’s good to have a fixed menu featuring specialties from a particular niche, such as vegan or gluten-free cuisine. If the passion lies in baking, a person may consider opening a business specializing in crafting visually stunning and delicious cakes or cookies. With strong attention to detail and a passion for culinary artistry, baked goods can quickly become the talk of the town.
Nina Paczka
Community Manager, Resume Now
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