Money-Making Tips for Recent Retirees Who Aren’t Ready to Retire

This from Sharon Wagner, who patiently waited for me to send out. Retirement does not mean sitting down. It means beginning your next journey.

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Money-Making Tips for Recent Retirees Who Aren’t Ready to Retire

You’ve finally done it — you’re retiring! All those years of hard work and sacrifice to build your nest egg and secure your future are finally about to pay off. You’re joining the ranks of more than 10,000 baby boomers who retire every day in the United States. This statistic came from a previous Pew Research Center report and is fairly accurate. 

You may be unequivocally ready to hang up your work heels or power suit, or maybe you’re not quite ready to go quietly into that yonder sunset. Either way, you do you! Here are some tips if you want to remain in the workforce — on your terms — without sacrificing your future financial health.

Puppy Love

If you enjoy canoodling and spending time with animals, consider becoming a dog walker or pet sitter.  According to the American Humane Association, 62 percent or 72.9 million households have a pet whether it be a dog, cat, bird, or other small animals. They also report between 37 to 46 percent of households own a dog. You can start a dog walking or dog boarding business with relatively little startup costs — plus, you don’t have to have a specific dog-walking license and can make your own hours. 

To get started, research your competition and market costs. Are you sure there’s a need in your community? If you live in a city where dog walkers are in high demand, you may be able to eke out a decent supplementary income without actually working like a dog.

Part-Time Gigs

Retail jobs and big-box stores may provide an opportunity to make a few extra dollars while also allowing you to get out and meet people. If you’d rather be a little more selective, consider approaching your favorite art museum gift shop, the pro shop at the local municipal golf course, or your local hardware store. If you’ve always fancied yourself a handy person, now share your knowledge. 

Monster.com put out a list of 10 companies that care about older workers. As an example, number one on the list is Safe Streets USA. Headquartered in Washington State, the company is an authorized dealer of home security systems. Former employees mentioned “age diversity is obvious and considered a strength by all. Fresh ideas and energy being mentored by wise and experienced guides.”

Know What You’re Good At

Leveraging your expertise is another way to earn additional funds throughout your retirement. Perhaps strike a deal with your former employer to be available on-call and on a contracted basis, or maybe you go out on your own and start a business utilizing the fundamentals of your former career: take freelance work as a tax preparer or coach small business owners on how to best manage their people or start a small organizing business. 

The possibilities are endless — you just need to hone in on what you want and how you want to spend your post-retirement time. You may have also spent your free time knitting, sewing, or gardening. You have more warm-weather hats than should be allowed. Consider selling them online, either through an already established site like Etsy or through your own website when you’re ready to market yourself. Here is a comprehensive list of thetop 15 free web hosting sites.

You’re the Boss

If you hope to work during retirement but you don’t want to lose control over your own schedule, it’s time to think about being your own boss. Starting a business might be the perfect choice for you. Naturally, you’ll want to ensure that launching a business won’t hurt your personal assets. As a senior business owner, you’ll probably want to register your company as an LLC for this purpose. Plus, you’ll definitely enjoy the additional tax deductions — and thankfully, filing does not involve much paperwork.

To get started, research the guidelines for filing in your state, and then consider if you want to file on your own, hire a lawyer, or use an online formation service to navigate the process.

Reaching retirement age is cause for celebration. You’ve done the hard work of painstakingly saving your money and investing wisely, and now you want to do things on your own terms. If you want to remain in the workforce without sacrificing your future financial health, there are a multitude of options to consider, from dog walking to starting a business. Trust that you’ll be okay — because you will be!

For more help in navigating the world of retirement, look no further than Gray Voter

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