Now that it’s time to sit back, relax, and enjoy the good life, you may be wondering what you can do to supplement your income. Plenty of early retirees find that having a side gig to pay for daily and monthly expenses can be a great boon to enjoying life. Here are some creative ideas to bring in that extra income.
Rent Your Extra Space on Airbnb
Now that the kids have gone off to college, you and your spouse may feel the need to downsize. If you have a detached space or even a private room, you could be paying your mortgage payment through Airbnb. The popular rent-a-room or a house service is a great way to meet new people while also collecting payments from out-of-towners who don’t want to stay at a hotel. Airbnb has different regulations according to the city or state you live in, so be sure to familiarize yourself with these before heading down that path. However, it beats trying to make a living while trading penny stocks.
Sell Hand-Made Goods Online
Do you have a hobby that generates physical goods for sale? You may be taking products from knitting, crocheting, woodworking, or your apiary to the farmer’s market, but you can sell them online, too. An online marketplace called Etsy lets anyone open a shop featuring handmade goods, so long as they have at least ten items to sell. You can find all sorts of handmade goods to buy or sell. Before you get started down this path, do a bit of research to see how much demand there is for your product online. Look at competitor’s prices to see how much you could charge for your goods to sell them quickly and keep the money flowing. Soap making, handcrafted jewelry, clay crafts, woodworking, and glassblowing are great hobbies to generate sales through Etsy.
If you’re a teacher who misses the daily interactions with students in a classroom, you might consider offering your services as a freelance tutor. You can put up ads with your chosen expertise on Craigslist, at the post office, or use one of many online sites that caters to international students. Some tutoring sites are as simple as helping international students develop their English language skills. You set up a chosen time block with a student and talk with them about their day. Even if the student doesn’t show up, some sites will reimburse you for being available.
If you’ve always had something of a green thumb and you have plenty of space, you might try growing vegetables, fruits, and mushrooms to sell at your local farmer’s market. Mushrooms are particularly suited to growing in urban environments, as they need a cool and dark place to grow. Tomatoes, cucumbers, squash, peppers, and melons are just a few of the crowd favorites available at local farmer’s markets. Depending on where you live, you could see a different variety. Attend your local farmer’s market and ask your local growers about growing produce in the area. Food co-ops often have classes and offer books to teach you best growing practices for produce in your area.