Fastest Ways of Making Money After Retirement

by Contributing Author

Sometimes after we’ve retired, we end up wanting to make some more money. This can be for family reasons, personal reasons, medical, travel—whatever your reason, there are a few fast ways of making money. Using these options will get you money within a few weeks, giving you piece of mind and cash in your pocket.

Sell Off the Farm

Not actually the farm, keep that. Instead, sell items around your house that are valuable but not sentimental. Or items which have a high-quality aspect to them that others can use. For example, in terms of jewelry, you will readily sell pendants and earrings which are outfitted with precious stones. The process may become harder if you are selling a fake, costume jewelry ring. Consider donating that stuff instead, it’ll save you time and give you more space in the jewelry box.

Use Your Hobby

There are millions of people who make extra money off their hobbies every day. From selling pies to knitting hats with long ears, your hobby may come as a surprise source of extra income for you. This is especially true if you are particularly highly skilled as a craftsman. Many men end up with a wood lathe somewhere around the garage at some point in their life. If you still have yours, give bowl turning a try. Or build a custom wooden chess set to sell online for big bucks.

Sell Your Services

You don’t need a hobby to make money from what you do. Instead, you can make cash from doing what interests you, but isn’t a hobby. This can include everything from being a seamstress, to being a handyman. If you go this route, make sure to market yourself to small businesses, as they are the ones which will both spread your information to interested clients, as well as call on you when they need help with something special.

For example, if you’re a handyman, introduce yourself to the local art scene. Large (and small) pieces of art need to be installed constantly for owners. And what’s better? You can set your hourly rate yourself since you don’t work for anyone but yourself.

Reverse Mortgages

The term reverse mortgage may conjure images of old TV commercials, maybe one with a smiling couple on a golf course. This is most likely because reverse mortgages enable you to collect a lot of cash, really fast. They work by you (being a homeowner) choosing to access the liquid equity which you’ve been paying on your home. You can end up collecting a significant portion of what you paid and having that money either sent to you in a lump sum or in monthly payments. It works by essentially taking out a loan against your home, but the catch, is that you do not repay that money unless you leave or sell the home. If you’re considering a reverse mortgage, make sure to check the reviews first.

Rent Out Your Extra Space

If you’re a homeowner, consider renting out the space that you don’t use. This could mean renting out a room in your home or it could mean renting out your second house, down by the lake. Renting is a complex situation for most people, so if you go this route make sure to either hire a company to help you with the legal or go through a vetted company like Airbnb. If you choose to rent out a space inside your home, make sure to have copies of important documents hidden away, and all your valuables are where only you have access.

Explore Online Work

The internet is a massive place. Often, you can find opportunities for work by using sites especially designed for connecting those who need help, and those who can provide services. Are you an avid book reader that can crush a book in an afternoon (maybe while remembering the color of the flower on a teacup from chapter 7)? That’s a unique skill set that you can put to work. Don’t rely on sites like Craigslist, instead approach sites like Upwork, which are designed to make things as easy as possible for everyone.

Be a Local Guide

How long have you stayed in your home? What about in your town? Likely, there is a large number gap between the two answers and that’s okay. If you’re chockablock with knowledge about your town, you should consider becoming a local guide. Local guides have some of the most fun jobs in the world, as they meet countless new people, share their favorite stories, and put you into environments with your city’s best foods and drinks (who could want more?)

Grow Rare Produce

If you’ve ever tried your hand at gardening, you know that it is one of the hardest, most rewarding things that you can do. In the span of a summer, you can harvest hundreds of plants and you can eat, can, or sell most of them. For the next harvesting season, (if you have a greenhouse) consider trying to grow some uncommon foods. Things like truffles and wild mushrooms are always being sought after by gourmet chefs, it couldn’t hurt to boost their produce levels while also boosting your cash.

Become a Pet Sitter

If you are a pet lover, one of the best things that you can do for yourself is to become a pet sitter. Many people want to go on vacation and still remain in contact with their animals (a service that not many boarding places offer). By becoming a pet sitter, you will be able to interact with all kinds of pets, and further, you can give owners peace of mind about where their pet is and what they are doing. Keep in mind though, that if you go this route, most people will expect you to baby sit at your home—if you baby sit at their home, you may be able to charge more however, since you’re also watching their house too.