You’ve retired! Fantastic! What do you do now? Well, the likelihood is that you may not have saved enough money to travel the world for the next 30 years. You need something to do to keep your mind occupied and your time filled, and you could use some extra money to fund those extra adventures you want to take.
Well, you have built up a lifetime of expertise and there is no reason you cannot put that to use. How can you use that to make some extra money for yourself after retirement? Here are four pretty easy ways.
1. Create an Online Course
You have the knowledge, and you probably taught a lot of people about your profession along the way. So what do you do with all of that training expertise? Use it to teach people around the world. Does creating an online course sound too tech-intensive? It does not have to be. There are a few easy steps:
- Buy a Domain and Design a Website: Already nervous? Don’t be. Buying a domain name is easy, and platforms like WordPress make it simple to design your website. If you have trouble, there are dozens of people you can hire who will help you through the process.
- Create Some Great Course Content: Create a curriculum just like you would for a school but have fun with it. You are online, and you are the boss.
- Give Some Stuff Away: Give away some simple courses or course teasers, just enough to get people interested.
- Charge for the Rest. Create a membership area or subscription service. Then, using the best WordPress Contact forms, let people sign up for your courses.
Of course, there is some marketing and other efforts involved with this, but you can even contact your old company and those you know in the industry who may be delighted to pay for your course and impart your expertise to their employees even though you are retired.
The good news is you will not have to teach all the time. Once the site is up and running, you won’t have to create more material or go back except to update things from time to time. It becomes a simple source of passive income.
2. Teach Part Time
Don’t want to go to all the trouble of creating an online course? Talk to your local college or even teach community classes from time to time. Even teaching at a school leaves your summers free for travel, and lets you impart the knowledge you have gained to the next generation.
This can also be a way to not only bank some cash but have some benefits as well if they are offered to part timers by the school. Check into your local community or private colleges, as these are usually the best bet and are constantly hiring teachers.
3. Write a Book
Another potential source of passive income is to write a book. You probably have a story to tell, and if you have been in an industry for years, it will probably be useful to those coming behind you. Maybe you have just had an incredibly interesting life, and want to share your experiences with others.
First, the process of writing a book is not as easy as some might imagine. While you may have written thousands of reports and documents in your career, a book is different. Take some creative or memoir writing courses, and read and study other books that might be similar to yours. Pattern your story after those.
If you struggle with writing, it may even be worth it to hire a ghostwriter. This person will take your words and your stories and put them down in a format that is commercially appealing. While you will still have to market your book, a well written tome on a popular topic can be a great retirement money maker.
4. Become a Consultant
Want to travel and have others pay for it? Don’t mind mixing business and pleasure? Become a consultant in your field of expertise and get paid to share that experience with others. Yes, this will take some work on your part, but not nearly the demands of your previous job, and if you are busy or do not want to travel to a certain area, you can always say no.
The beauty of consulting is that in many ways you are your own boss. You set your own travel schedule, your time at home, and the things you want to talk about. It’s an easy path to some retirement income, especially if you’re able to offer support to online marketing agencies and tech companies as their budgets are often a lot bigger than your local doctor’s office.
Your retirement income may be enough to sustain your lifestyle, but to afford extravagances, you will need to earn some extra money on the side. Besides, you don’t want to be bored, do you? Use these four ways to make some easy money after retirement.