6 Sources of Income for People to Earn Even After Retirement

| December 27, 2013
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retirement

retirement (Photo credit: 401(K) 2013)

So you’re finally out. After decades of servitude you’re finally free. Congratulations, you don’t have to work another day. Retirement is not the end, it’s just the beginning. It’s all a matter of perspective. Now you have all the time in the world to do what you want. You can travel the world or start your own restaurant. However, to do these things you need money, which has unfortunately stopped coming in. Never mind, here are a few things you can do to earn a livelihood even after retirement.

Start a Plant Nursery

People often pick up a hobby after retirement. And that hobby often happens to be gardening. Why not turn your hobby into a business? You’ll be doing what you love and earning money at the same time. What could be better? Start a plant nursery where you sell home grown plants. It can be quite lucrative. The initial costs are pretty low if you build your own greenhouse and use organic ways for growing plants. Having a greenhouse for an office isn’t the worst thing in the world. Remember Hannah McKay from Dexter? If a serial killer can go green why can’t you?

Start a Blog

Do you think you have a voice that was stifled through years of servitude to the white collar? Well, it’s time to let it be heard. Start a blog to speak out your ideas. A blog may not be the best source of income, but if you have a really popular one you could end up earning a lot. It all depends on your content and the advertisements you get. These days people like Philip DeFranco are getting paid for their YouTube blogs. If you’re not camera shy you can try that as well.

Write a Book

Who hasn’t thought about writing a book at one time or another? It could be a murder mystery or non-fiction. It could also be a cook book. It could be anything, just please don’t write another self-help book. Bookstores already have enough of those. The world doesn’t need another Dale Carnegie. Sure you can make a killing writing self-help books and a lot more through seminars, but don’t. It’s like being a pop singer. They write songs that are trash and then have the audacity of going on tour with them. The nerve of these people is astounding.

Become a Collector

Ever heard of Victor and Sally Ganz? I guess probably not. Well they were art collectors. And they were just like you and me. They weren’t millionaires or billionaires purchasing art to appease their vanity. They bought art for art’s sake. Over their 50 year shopping spree they bought paintings worth $2 million. After their deaths the collection sold for a record $206.5 million. That’s a lot of profit. If you have a good eye for art you could purchase the works of an unknown artist and end up making millions in the long run. Just remember to buy for art’s sake.

Consult

If income protection is on your mind and you don’t want to take wild risks, then consulting is your best option. You’ve spent a good part of your life working. Who knows your trade better than you? You can use your expertise to still make a living. However, instead of working a 9 – 5 job you can choose your own hours and charge a ton. Consultants are hired by companies at exorbitant rates. You can be one of those consultants. You’ll be doing what you’ve been doing your entire life. However, you’ll be working according to your preferences and earning more than you’ve ever earned before.

Invest

The stock market is an immeasurable source of wealth and the numbers you see on the ticker of CNBC are the keys. If you can decipher them correctly you could be the next Warren Buffett. You can win big, but you can also lose big, so be careful. Invest carefully and after much thought. You don’t want to lose what little money you have left. Don’t end up wiping your 401k clean in an attempt to become the world’s richest man.

You don’t have to start penny-pinching just because you’ve retired. You can still enjoy all the luxuries life has to offer thanks to the tips mentioned here.

Today’s feature author,   Shruti Vaghe, has an enthusiastic personality. He loves the culinary arts and she loves to spend time experimenting with it. Whenever she is free, he likes to go on camping trips with her cousins. You can also follow her on Twitter.

image source  http://farm8.staticflickr.com/7020/6551534889_9c8ae52997.jpg

 

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