Seniors enjoying their retirement often find themselves with more free time than they can handle. As a result, many choose to go back to work so they can earn income on the side. However, it does not mean that seniors should report to the office or start a full-time business. There are several ways for seniors to make money at home and with a flexible schedule.
Ideas to Make Money at Home as a Senior
If you are a senior, making money does not always mean taking on a new job. There are several easy options—in fact, some of them might not even feel like you’re working at all.
Try and explore these money-making ideas to earn even without leaving your home.
1. Rent a Spare Room
If you have an extra room that you don’t use at home, you can generate passive income from it by renting it out. Sites like HomeAway and Airbnb enable you to list these available rooms for rent to interested renters.
You can decide on the rental price and the availability of your room. You can choose to have it rented for short- or long-term stays. It gives you plenty of flexibility in how much money you make without any additional investment or work on your end.
2. Pet Sitting
Seniors who love animals can also make extra money by looking after pets at home. Some pet owners like to pay someone else to feed and look after their pets while they are away on vacation or when they travel for work.
Looking after pets is something that seniors find therapeutic. However, ensure the work is compatible with your strength and fitness level. For example, this will be an ideal option to earn money for seniors who have to take care of a pet at home. Dog walking is an activity that can be physically demanding for some seniors.
Make sure you only agree to this work if it is within your physical capacity to do so.
3. Become a Landlord
If you are a senior who travels a lot, you can make money by renting out your home while you are away or on vacation. It is a great way to earn passive income, especially since your house will be empty anyway.
You can use Airbnb, HomeAway, and other similar websites to list your property. You must indicate the property’s availability for rental, especially if you won’t be away for too long. This opportunity is a smart idea if you live in a city with many tourists, as many would want to take advantage of staying in a home instead of a hotel.
4. Become a Coach
Many seniors and retirees were once career-driven individuals who have achieved great things in their respective fields. If you are one of them, you can make money from your career expertise and knowledge by offering coaching services.
Some people are willing to hire a coach while they are starting their careers. You can offer them valuable insights that they can use to advance their career. Seniors can offer coaching services freelance, or you can connect with a career guidance platform.
5. Create and Sell Homemade Items
For seniors who are creative, you can create handmade items and then sell them online. You can make knitted products, jewelry, paintings, crafts, and baked goods. Whatever you’re good at, take advantage of it by creating products that people would be interested to buy.
You can monetize this hobby by selling your items on an ecommerce platform such as Etsy or Amazon. These popular platforms showcase your handmade products to millions of potential buyers. Listing your products on these ecommerce platforms allows you to maximize your potential income. It is much cheaper than setting up your own website.
If you can create a winning product, you could easily make hundreds to thousands of dollars in passive income.
6. Sell Items You No Longer Use
As a senior, you might have accumulated a lot of products in your home. You no longer use most of these products, so why not sell them?
You can do it in an old-fashioned way by having a garage sale. You can sell your old clothing, shoes, handbags, books, and other items. Another option is to sell them through a consignment store or second-hand shops in your area. You will get a percentage of earnings generated from your used items.
Another option is to sell these products online. Craigslist and eBay are two websites that allow you to sell second-hand items. If a buyer wishes to purchase your item, you can arrange a meet-up or delivery of those items.
When choosing items to sell, ensure they are still in good condition and functional. It’s a smart way for seniors to earn money and de-clutter at the same time.
7. Be a Home Cook
If you love or are passionate about cooking, you can make money as a senior by doing what you love. You can start a home cook business where you will cook for locals and travelers. This trend is fast growing in various parts of the world wherein travelers will be invited to your home for a meal in exchange for a fee.
There are several websites that you can connect with so you can get bookings for your home-cooked meals. It is not only rewarding as you can earn while doing what you love but is a great opportunity to meet new people.
The Bottom Line
These are just a few ideas on making money at home as a senior. You can turn to yourself and your skills if you are looking for more money-making ideas. What are you good at? What do you enjoy doing most? Take advantage of your skills, knowledge, and interest when looking to build another income source during your free time.