Entering retirement is always a fun idea as it gives you the chance to finally take a rest from toiling your days in the corporate world and enjoy what life has to offer. While it might be the perfect time to relax and take life less seriously, not earning a salary as you used to might make you feel uncomfortable, especially since there are still things you need to spend money on. While returning to work isn’t ideal, looking for other ways to make money would be a better option.
As you enter retirement, you might end up spending hours looking for and doing hobbies that could help you pass the time. While they can provide enjoyment for you, you might want to consider turning them into a business to give you additional profits. Moreover, it can also help you get busy, freeing yourself from dull moments.
Listed below are some retirement hobbies that can make you money:
Collecting coins is a popular hobby that can turn into a good investment. As time goes by, you can sell your coins at a much higher price, helping to fund your retirement period and make it more comfortable. To ensure that you get the most out of your hobby and investment, you should learn how to store coins properly to keep them in their best shape for as long as possible. One small detail can affect your gold price, putting your efforts to waste.
Arts & Crafts
A common hobby you could try during retirement is experimenting with various arts and crafts, such as knitting, crocheting, and painting. This type of hobby would be perfect for those who have a keen eye for arts and detail. You can sell your pre-made crafts or take custom orders, allowing you to earn more as you’ll only be working on their items once they have made a deposit. You could find inspiration online or create sample crafts to build your portfolio.
A great retirement hobby that you can turn into a profitable business is woodworking. Lately, there’s sudden popularity with how the elderly create better woodworking projects as they usually ensure stability and high-quality results. With those trends, you should pull them to your advantage by turning your hobby into a business. All you have to do is to source the right tools and materials and allow homes to have quality woodwork projects.
Taking photographs would always be a great hobby as you can capture perfect moments permanently and have something to go back to once you’d like to take a trip down memory lane.
If you’re confident with your skills and would like to put your hobby to the test, taking photography gigs could be a great way for you to make money with a small starting fund. You could try doing wedding, pet, or newborn photoshoots which should help you generate enough income while allowing yourself to be happy and occupied.
Gardening is a popular retirement hobby that can help to make people relax and enjoy the beauty of their yard. If you have a natural green thumb, you might want to share your skills by allowing more households to have the same beautiful yard as you. Nonetheless, this type of work requires physical activities. Hence, you need to ensure you’re physically well and capable of performing this task to avoid any possible injuries and discomfort along the way.
If you like teaching as it makes you happy to impart wisdom, you might want to consider tutoring. This type of job won’t require too much effort as you only need to teach people certain lessons or skills. You can either teach them face to face, hold a class, or conduct them online for maximum convenience.
Alternatively, you can visit community colleges and ask if they’re willing to pay you to teach their students about skills you already know. But depending on what you’re teaching, some might require a degree or other supporting credentials before offering an employment contract.
Cooking Or Baking
There’s nothing more fun and satisfying than doing your magic in the kitchen. Cooking or baking would always be a great way to keep you occupied, happy, and at the same time, earn money. As you make goodies for your family and friends to enjoy, you can whip them up into something more presentable and choose to sell them yourself. You can either do it online or build a store, so you don’t have to worry too much about handling orders online.
If shopping is your favorite hobby, then you need to make the most out of it by turning your hobby into something profitable. There are plenty of companies that hire mystery shoppers that let you investigate and spy on their competitors for them. This way, you can shop while still allowing yourself to earn enough money. While this might only offer a minimum wage at first, sticking with this job will enable you to make more in the future.
If reading is more of your speed as you enjoy noticing grammatical errors and bad punctuation marks, you might want to consider making money out of it. There are plenty of companies who are looking for copy editors to check out their articles and the like for them. Just ensure that you’re familiar with some style guides and ensure that you provide high-quality results. This way, you can turn your hobby into something profitable and make good money out of it.
In line with copyediting, if you enjoy writing journals, fiction, or articles in your spare time, you might want to consider writing online journals to make money. There are plenty of blogs looking for guests or ghostwriters who can write for them. If their blog is within your niche and interest, you might want to consider writing for them and get enough money per article you write.
Fishing is another popular and great hobby that you can make money from. You can either sell your catch or teach people how to fish properly. Alternatively, you can even create shiny baits to help attract more fish to the sea. How much you can earn from fishing will depend on which areas you’d like to focus on, but in the end, it’ll help you enjoy yourself as you get to be around water all the time.
There are plenty of retirement hobbies that you can turn into a business or make money out of it. This way, you can keep yourself occupied and do something that makes you happy while also making an earning from them. You could try arts and crafts, photography, writing, tutoring, woodworking, and more. With those in mind, you can allow yourself to have fun and increase your retirement funds, allowing for a more comfortable life.
Retirement comes not only with a change in lifestyle, but also with a change in your financial situation. If you've invested wisely and have a good retirement plan, you can maintain your standard of living and enjoy your free time doing all the things you couldn't do when you were working full time.
However, for a lot of people who do not have adequate savings, retirement can be stressful, and they may still have to work part-time to meet their financial obligations.
As you transition to retirement, an important consideration is whether or not you need life insurance. Usually, people buy life insurance to protect themselves and their families should they lose their income. Still, you may need life insurance when you retire in the following situations:
You Have Debt
When you retire and rely on a pension, money may be tight, and it can be challenging to pay off any debt. If you die without paying off your loans, your family will become responsible for this debt which will likely be a financial burden.
Also, if you have any loans that someone cosigned for you, the co-signer will be responsible for repaying your debt. Having life insurance will relieve your loved ones of this burden as they can use your life insurance to settle your unsettled debt.
You Still Support Your Children and Spouse
If you still support your children and spouse, having life insurance will protect them from financial difficulty when you die. Many people may still work part-time even after retirement to support their families. When you die, your life insurance will replace your income, so your family is still taken care of.
To Cover Funeral Costs and Final Expenses
If you have the death benefit, your life insurance will cover the costs of your funeral, estate taxes, and estate settlement costs so that your heirs don't have to pay for these expenses.
This is particularly useful if you own many assets, as the taxes will be high. Having the death benefit is also a way to leave an inheritance for your heirs, who will be paid out when you die.
Type of Life Insurance
Life insurance can be divided into two main types: term life insurance and permanent life insurance. Before buying a policy, it is helpful to learn more about term life insurance and permanent life insurance. This way, you can pick the right one that will suit your needs and that of your loved ones.
Term Life Insurance
Term life insurance is a plan that will protect your family for a set number of years, usually between 10-30 years. Its purpose is to protect a family with dependent children from a loss of income.
When the policy expires, it loses its value, and there is no longer a death benefit even if your beneficiaries have not made any claims. Except ceasing paying the premiums, you need to do nothing as the policyholder
This type of life insurance is the more affordable option, and its terms are flexible. In most cases, the premiums are level, meaning they remain the same for the duration of the policy's term.
This can be a good option if you still have dependents like a spouse or children or if you have debts like a mortgage. However, keep in mind that the maximum number of years you are eligible to take term life insurance decreases as you get older.
Permanent Life Insurance
Permanent life insurance will not expire as long as you pay your premiums. However, it is more expensive and less flexible.
On the plus side, it is seen as an investment as it grows in cash value. Since it is an investment, you can use it as collateral to take out a loan. It also includes the death benefit; you can withdraw from it while alive. Depending on the type of policy you buy, the premiums can be fixed for the duration of the policy.
Usually, when you're younger, the premiums are likely to be lower, so if you bought a policy when you were working or had a policy through your employer, it is probably worth keeping to benefit from the savings feature as well as the lower premiums.
Car insurance - it’s complicated, and we all know it. But that doesn’t mean we should bury our heads in the sand and hope that our cover is right for us.
The modern market is actually easier to navigate than in the past, so you just need to make a small amount of effort to take advantage of it.
With that in mind, here are the main points to remember when tackling the thorny issue of insuring your automobile today.
You can quickly and easily compare different car insurance quotes online
Platforms like CheapInsurance are ideal for comparing auto insurance quotes, allowing you to find a bargain in just a few minutes.
All you need to do is enter some personal information into a reputable comparison site, and quotes from a range of competing insurers will be compiled automatically.
Gone are the days when dealing with a broker took an age. All it takes is a laptop or a smartphone, and a small amount of your time.
The value of your vehicle is less important than you’d think
Most people assume that if you’ve got an expensive car, insurance premiums will be pricier than if you’re driving an old jalopy.
The truth is that the monetary value of a vehicle is just one piece of the insurance puzzle. Providers will look at all sorts of statistics to determine what to charge customers, and other elements are given more weight.
For example, choosing a brand new family car which is generally chosen by sensible, safe drivers will mean that insurance premiums are relatively low, since there will be less risk of the provider having to pay out.
On the other hand, going for a cheaper, older vehicle which has more power under the hood, and thus is more commonly chosen by drivers who push their luck, could land you with a costlier insurance package.
Your credit score can influence car insurance costs
Before you get car insurance quotes, you should check your credit score. This is because in most states, insurers are able to use it as a factor when calculating how much to charge customers for car cover.
Once again it’s the stats that are at play here, because data demonstrates people with better credit scores tend to be safer drivers. Your score can be hurt for all sorts of reasons, many of which can easily be rectified, so you could make savings on your car insurance by boosting your credit score.
Insurance policies cover the car, not the driver
Another rule of thumb is that unless your policy states otherwise, it’s the car that’s insured, and not you specifically as a driver.
What this means is that anyone else who uses your vehicle is covered, which can be a double edged sword. Your policy will pay out if they get in an accident, but you’ll be the one who has to face up to the increased premiums as a result.
Older drivers can pay more, not less
It’s true that younger drivers are the hardest hit in terms of auto insurance costs. However, there’s a point which we all reach when cover no longer gets cheaper as we age, but creeps upwards once more.
This is usually only a concern for the over-65s, and so long as you’ve got a clean record and a good driving history behind you, it won’t make much difference. All the same, if you need to plan for increased insurance costs as part of your retirement budget, this is one thing to watch out for.
No matter what age you are, it’s vital that you follow standard safe driving practices like keeping your distance from the vehicle in front, not speeding, and not driving while distracted.
After all, more than six million car accidents happen every year on average in the U.S., according to the NHTSA, so it’s vital that you always follow the rules of the road and engage in safe driving.
But as you get older, it’s important that you also do other things to ensure you stay safe when driving.
Here are five tips you should follow.
1. Get Your Vision and Hearing Checked Regularly
Seniors can experience a variety of vision problems that are related to aging, such as glaucoma, cataracts, and macular degeneration.
Such conditions can make it difficult to see normally or to drive when it’s dark, and of course, being able to see clearly is essential for safe driving.
Likewise, as a driver, you must be able to hear in order to stay safe on the road. But hearing can deteriorate the older we get.
Therefore, it’s very important that you have regular vision and hearing tests.
By ensuring your eyesight and hearing is in good condition, you can reduce the chances of being involved in an accident.
2. Always Read the Labels of Medications and Follow the Guidance
Seniors often take medications to manage health problems. But if you take medication that causes drowsiness or dizziness, make sure you don’t drive.
Also, lots of everyday medications, such as cold remedies and pain medications can affect your ability to drive safely, even if you think you feel fine.
So, it’s imperative that you always read the label of any medication you take and follow your doctor’s guidance before getting behind the wheel of your car.
3. Adapt According to Your Limitations
As you get older, you’ll probably experience aches, pains, and physical limitations. So, you should always consider your limitations and how you feel on any given day before you drive.
You should also make changes so that you can adapt to your limitations.
For instance, if your hands are painful when gripping the steering wheel, it could help to get a steering wheel cover.
Furthermore, you could change your vehicle to better suit your new needs. Cars that have large, easy-to-read dials on their dashboards, for example, are a popular choice for older drivers.
You could change when and where you drive, too, depending on your limitations. For instance, you could be safer driving during the daytime, during good weather, or on quiet roads.
Also, bear in mind how tired you are. If you feel sleepy, you shouldn’t get behind the wheel of a vehicle.
4. Update Your Driving Skills
If you are ever injured in a road accident that isn’t your fault, you can at least gain compensation to cover things like medical bills with the help of nationwide car accident lawyers.
But by following the above tips, you can hopefully avoid being in an accident in the first place.
One other tip that could be beneficial is this: update your driving skills by taking a driving course specifically geared towards older drivers.
By doing so, you could even potentially get a discount on your auto insurance rate.
5. If the Time Comes, Be Prepared to Stop Driving
Lastly, it’s worth noting that, sometimes, physical and/or mental health conditions can worsen to the extent that people become unfit to drive.
While no one wants to lose their driving independence, remember that, if you need to give up your car keys, it’s for your safety and the safety of others.
Then, embrace and enjoy using public transport, a ride-sharing service, or cabs instead.
However you look at it, the elderly want to love, be loved, and feel good too. This comes with its drawbacks though. There is a growing trend of STDs in older people. Between the free time, insular communities, and the growing awareness of sexual reproductive and family issues, it leaves the elderly at risk for a variety of sexually transmitted infections. Below are some reasons why there is a growing trend of STDs in the elderly and what can be done about it.
The Twilight of Life
At the twilight of life, people want to continue experiencing things and feeling good. With little time left, there is less care about all the preconceived judgments and conventions that define our early lives. Instead of waiting for life to be over, many older people want to experience everything they can with the time they have. They want dating and companionship like everyone else does. This is one reason why the elderly continue to be sexually active.
A lot of people think that when people get older, they shut down in several ways. This isn’t the case. Not only do older people want to do everything that younger people do, but they also want to continue making love and enjoying each other’s bodies. If given the chance, many older people will continue to remain sexually active. Without awareness that the elderly often stay active, there isn’t much talk about the spread of STDs.
Lack of Awareness
Depending on how old the person is, STDs might not have been very prevalent in the lives of the elderly. When you’re young and no one talks about the spread of these infections, you won’t live the rest of your life with them in mind. Furthermore, younger people often feel uncomfortable talking about these issues with their parents or grandparents. Preventing them with protection is key. Awareness needs to be spread to older people to prevent the spread of STDs in their populations. One of the most important things that can be done to prevent STDs in the elderly is to talk to them openly and honestly about it.
Another reason that STDs have spread in the elderly is that they commonly enter insular communities. Senior living communities have a limited number of people. If they are multiple people who are sexually active with each other and don’t use protection, this could lead to the rabid spread of STDs amongst these communities.
In the twilight of life, you understand that you won’t be around forever and that many of the relationships you cultivate may not work out. Still, older people want to enjoy themselves and feel good. When seniors are active sexually in communities designed for the elderly, condoms should be passed around.
Increased STD Prevalence
STDs are much more of a talked-about problem than they were in the mid-20th century. A lot of people didn’t need to worry about STDs in their youth. If these infections weren’t an issue in the past and having children young wasn’t such a big deal, many elderly people wouldn't grow up using condoms. STD prevalence has increased.
Since the AIDS scare of the late-20th century, safe sex is a topic of discussion amongst young people. Not only are these transmissions more common, but they can also lead to more complications with older people. There are more STDs than ever before, and people are more at-risk when they don’t use condoms during sex. This even applies to the elderly population.
Weakened Immune Systems
As you get older, your immune system weakens. Not only does this make STDs easier to contract, but it can also make them a lot more dangerous for the elderly. An STD that would only take a simple medication to clear up could be more complicated when the person is older. This makes STDs a bigger problem for seniors. When the person has a weakened immune system, even more steps should be taken to spread awareness and protect seniors from the spread of STDs.
According to Emergency Medicine News, the number of STIs in the elderly has doubled since 2014. HIV is alarmingly prevalent. Among the 39,000 people who were diagnosed with HIV in 2017, 17 percent of them were age 50 or older. It is also more dangerous and potentially deadly for people who are older. The numbers show the number of STDs in older people going up.
What Can Be Done?
Of course, STD awareness among older people is at the top of the list of things that should be done to prevent the spread of these infections. Having condoms readily available at senior living homes will prevent the spread and complications that come with infection. Furthermore, testing needs to be more accessible.
Luckily, there is the option for an at home STD test that can help stop the spread of these infections from person to person. With accessible testing options that don’t force the person to go into an office and ask for an STD test, older people are more likely to get the test done. When they know if they have an STD or not, they will be able to make responsible decisions going forward.
Life as a senior is multifaceted. It can be both difficult and enjoyable. There is no shortage of different health problems to wrangle. The growing number of STDs is one of them. Just because someone is older, that doesn’t mean they don’t want love, companionship, and sex. They are still alive, after all. Depending on the person’s health, they could be as sexually active as they want to be.
The prevalence of STDs has gone up, but so has awareness. People understand that STDs are a risk, but if you didn’t grow up worrying about them and didn’t use condoms much, it can feel foreign. All these reasons contribute to why we should spread awareness by talking to the elderly, provide sexual health resources, and make sure that condoms are available at senior living homes and other communities.
Nothing beats a hard day at work than a fine rest at home – and even more so when it's after your retirement. Think about it: you’re nestled under the shade with a refreshing breeze blowing, holding a fruit drink in your hand. Indeed, this is what you'd call your fruits of labor, as you've lived life to the fullest after retirement.
With years of rest ahead, boredom could quickly lurk around the corner since you're still adjusting to the new ways of your retired life. However, such lurking boredom could also allow you to try something new. So, to keep you engaged with the world around you, here are the seven best things you could try after retirement:
Declutter Your Home
With so much time in your hands, you could quickly go through your drawers, wardrobes, and desks to declutter your home. You could even sort out all the things you own into:
Keeping your connections open is always needed, especially if trying to ease boredom. Here, you could always keep up and have a chat with close friends. You could even enjoy new activities together - especially now that you have more time to relax.
Likewise, you could even connect and look for new friends on social media. Since you have more time to burn, adding more people to your group is never the wrong way. You could even start by having your own social media presence, which means you get to connect with new people who have the same interests as you!
Move Somewhere New
If you want to get out of your box, you could even move somewhere you've wanted to go. You could always try making it big in the city if you're from the country. Here, you get to bask in rich art and culture. You get to sightsee looming buildings and explore pavements your new life offers.
Conversely, you could always move somewhere quiet and tranquil if you're from the city. Here, you could try raising pets you've always wanted to have. You could even try stargazing or berry picking if you want. Nevertheless, you could always start your retired life by moving. With no job and financial constraints, nothing is indeed holding you back!
Grow A Garden
Another activity you could do is growing a garden of your choosing. You could try your green thumb in vegetable gardens, flower gardens, or even a mix of both. With this, you can expect month-long cognitive rewards when taking care of your plants.
A 2019 South Korean study found gardening to help protect one's cognitive functioning – even if it was done in under 20 minutes. So, if you're looking to grow your vegetables and keep your mind healthy while at it, you could even grow your garden!
Write A Blog
If you're more into writing or if you want to write, you could even start your blog. Here, you could post new content on what it means to live a life after retirement, what people could do, and what they could hope to expect in the life that awaits them. You could even try writing about your life. Doing so allows you to relive important moments by sharing them with the world.
Try Charitable Giving
If you have a bit of a financial nest egg, you could even start your retired life by giving back to the less fortunate. Here, you could contact fundraising groups or even donate on your own. You could do this by delivering food to the homeless, sorting donations at your local charity, and taking care of animals in your local pet sanctuary.
If you're looking for an enormous step, you could even look through international charities. By doing so, you contribute to helping others and changing their world through little acts. You could even gain new perspectives on culture, connection, and gratitude.
Spend Time With Your Family
Spending time with your family, whether at home or the mall, is one of the best ways to spend your retirement. You get to hang out and connect with the people you've grown with for most of your life. You could even reconnect with those you've lost touch with over the years.
Here, you could bond with them with family game nights, going on weekend outings, or grand getaways. Keeping familial connections open allows you to form a tight-knit bond with your family and understand each other even more so during your retirement.
With these seven activities lined up for you, boredom will indeed have difficulty creeping into your new life. With this, you could finally look forward to days of rest and recreation – especially since you've got friends and family beside you and many activities and hobbies to discover!