Having an extra source of income in your retirement can provide you with a better standard of living, even if your basic needs are already being met. But having another stream of income can help unexpected expenses, and monetizing your passion is a great way to stay busy, allowing you to do something productive with your free time.
Open a Trucking Company
The trucking industry is massive right now, and launching your own enterprise allows you to take advantage of a lucrative market. You also don’t need a degree in a certain field to be successful, so you could start a trucking business no matter where you worked before retirement. Many times, the schedule is flexible, so you'll be able to work as much or as little as you want.
You will need to do your research on what types of equipment to acquire. A company that regularly ships orders across the country will have different vehicle needs than one that moves freight within the state. However, one option is electric vehicles, which tend to be more sustainable than traditional combustion vehicles. You can look at a guide with more information on eco-friendly vehicles to help build your knowledge.
Take Care of Animals
Do you adore animals, like cats and dogs? If so, you could make some money by taking care of other people’s pets in their home. Whether it’s vacation, work, or other obligations, not all pet owners have enough time to spend with their animals, so if you’re willing to groom, feed, or walk animals, you could start a business. This often requires physical activity, depending on the type of animal, so be upfront about what you can handle. You might decide to avoid dogs over a certain weight.
Start a Handmade Business
If you are crafty, you may find that your retirement gives you more opportunity to create. However, there is probably a limit to how many handmade items you need in your home, and you may not have enough friends or family to just give away everything you make. This can be anything from arranging flowers, real or fake, quilting, or designing headbands for babies.
There are marketplaces where you can sell handcrafted items to bring in some more money. While you may not get rich doing this, it could cover the costs of your supplies and give you something relaxing to look forward to. If you don’t want to become an online seller, see if you can advertise in local shops or sell at craft fairs in the area.
Work for a Company or Individual
You can work from home if you open a virtual assistant business, where you will handle tasks an individual or business owner doesn’t want to do themselves. You might set up meetings, oversee calendars, reply to emails, or post on social media for a small business owner. This is an excellent business opportunity if you are experienced with the corporate work environment and know how to handle these types of administrative tasks. You can look on remote job boards to find opportunities, or you could market yourself to potential clients.