Many seniors in retirement are enjoying their freedom and the time they spend with friends and family. Seniors have an abundance of free time in retirement, which sometimes leads to spending money saved in their retirement fund. With that said, some seniors see their retirement savings rapidly dwindling due to medical bills, utilities, entertainment, and more.
If you find yourself in this situation, then here are five ways to make money online in retirement.
1. Online Tutoring
What a better time to share your wisdom and knowledge with students than retirement? No matter the age group, students need help all over the country in subject such as reading, math, history, or another language. Online tutoring can take place inside your home by you communicating with the student using FaceTime, Skype, Zoom, or other video chat technologies.
There are many online tutoring companies, such as Skillshare, Chegg Tutors, and Udemy, that would love your help by sharing your knowledge and skills with these online students. Online tutoring will bring extra income to your household, and you can help students gain confidence in a specific subject while helping them excel further in school.
2. Remote jobs
Thanks to the technology of the 21st century, you have the opportunity of working for a company remotely. There are various amounts of part-time jobs that only require a computer and internet connection. For example, there are online job opportunities in bookkeeping, customer service, transcriptionist, and many more.
When you work part-time in retirement, you still want the advantage of creating your own schedule and having your freedom. A benefit of working remotely is that you do not have to have a strict schedule and can bring your work anywhere. If you wish to take a family vacation across the country or attend your grandkid’s baseball game, you do not have to sacrifice that time – just bring your laptop and hotspot and you are all set!
3. Owning an Etsy business
Etsy is an online market where you can sell handmade goods, art, crafts, and more. If you have a hobby that you believe can sell, then Etsy is your place to shine. Etsy will allow you to create a customized online shop that buyers will trust.
A perk of selling on Etsy is that you do not have to commit to a work schedule. You can create and sell products at your leisure while receiving funds when people buy your product. Etsy will give you the full independence of running your own online business while enjoying working on something you love.
4. Participate in focus groups
Participating in focus groups is a fantastic way to earn extra cash during retirement. A focus group is a small, diverse group of people whose emotions, opinions, and reactions are studied during market research. A company will host focus groups to gain views on a product or company before it is launched.
There are various amounts of different focus group types, such as online surveys or website testers. Online survey focus groups is a user-friendly way of making a quick buck! To get started, you will register your information on a market research website such as Opinion Outpost, MySurvey, or Survey Junkie. Once you register, you will be sent surveys to take and get paid for your time by the company hosting the focus group.
If you have a good eye for grammatical, punctuational, and usage errors in written content, then copy-editing is right up your alley! To be a copy editor, you must know the different forms of writing styles, such as AP and Chicago style. If you have a basic understanding of English grammar rules, you can succeed in making money in this industry.
There are online copy-editing roles in the magazine, newsletter, the blogging industry, and many more. To find a job as a copy editor or a proofreader, you can visit job finding sites such as Glassdoor, Linkedin, and Indeed.
There are many online job opportunities for you to create extra cash to fund your retirement savings. However, since retirement is a time of relaxation, happiness, and freedom, choose an online side hustle that you will enjoy and will better your retirement experience.