How To Make Extra Money During Retirement

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Just because your typical 8-4 or 9-5 routine ends, that doesn't mean you are no longer able to bring in some extra cash. Yes, your retirement accounts will be waiting for you to use once you're no longer working, but there are plenty of retirees who continue to bring in an additional source of income (or two) that aren't a result of working OR their 401(k). With that in mind, the next time you have any doubts about making extra money during retirement, think about these ideas:

Sell Your Things
No, we aren't talking about your most prized possessions that have been passed down for generations - we're talking about the items that are starting to collect dust in your closets, basement and attic. It's true that "one man's trash is another man's treasure," so if you have any items that no longer interest you, consider having a garage sale and find them a new home.

Rent Out Your Home
If you plan to be a snowbird and fly south for the winter, use your empty home up north to your advantage and rent it out for the months you're no longer there. Similarly, when you're not down south, rent out that home too! So long as you're willing to take on the responsibility of being a landlord, this is a practical way to guarantee income on a monthly basis!

Utilize Your Skills
Do you have a skill that you truly enjoy using? For example, maybe you're an amazing baker or you enjoy crocheting. If you have something that you like to do on a daily basis that other people can benefit from, think about selling your creations! While some people might view this as a job, if you really enjoy what you're doing, you can think of it as a hobby that pays.

Help Your Friends and Neighbors
For those of you with neighbors who are still out in the working world, ask if they could use some help caring for their children or pets during the day. As someone that your friends and neighbors know pretty well, it's likely that they'll choose you to come into their home instead of someone they've only just met!

If you've ever thought that getting a part time job during retirement was the only option you had to keep your income flowing, we hope you'll think again - sometimes all you have to do is be creative and think a bit outside the box!

Here at American Investment Planners LLC, we understand how important it is to feel financially stable during retirement, which is why we offer comprehensive retirement planning services. To learn how we can help you have a successful financial future, give us a call at (516) 932-5130 to make an appointment with one of our professionals today.