Retirement is the time in our lives where we can leave the workforce behind us, having earned our rest and relaxation. But that doesn’t necessarily mean we stop working, only this time we can choose to work for ourselves. Retirement can potentially last decades, so one this is certain, it’ll cost money. People are retiring at a later age to have more time to save money and maximize their Social Security benefits. To help, Carolyn Sun from Entrepreneur.com outlines a handful of creative, “no-cost” ways to earn extra money, or as the kids today would call it, a “side-hustle.”
Luckily, if there are tow things seniors have in spades, it’s creativity and time. Two things necessary to think of ways to earn extra money for yourself by yourself, so you can enjoy the retirement you deserve.
Being retired means you are in control of your day-to-day life. You can assess your own financial needs, compared against your short-term and long-term goals, and come up with fun and creative side-hustles to help you reach those goals. Side-hustles for seniors are many, and you decide how active you want your side-hustle to be.
For example, seniors looking for a more active role, a tutoring or temp position might serve them well. Alternatively, seniors who have accumulated a lifetime of rare treasures and antiques can sell them to the highest bidder, from the comfort of their homes. Traveling seniors can be tour guides or be their own landlords by offering their spaces for rent on sites like Airbnb.
However you decide to retire, it’s good to know that there are options for you.
The Council for Retirement Security is working hard to make sure your Social Security is protected, so any future side-hustle is a hobby rather than a necessity.
The purpose of the Council’s Social Security Lock-Box Petition is to demand that Congress reserve the Social Security Trust for paying out benefits only, guaranteeing that your Social Security gets into your hands alone. If you choose to use those benefits to fund a side-hustle passion project, then that is your right to do so.