Ideally, retirement means you get to quit your job and do what you love all day. However, many retirees would love to earn some income to ease their cash flow. A great way to feel retired and bring in some extra money is finding a way to generate cash from your hobbies. It might take some effort to move something from a hobby to a small business, but with the right entrepreneurial spirit, you can turn fun into profit. Here are some examples of hobbies that could be profitable.
If you have a large collection of antique toys, record albums or clothing you no longer want, you can sell them online to the highest bidder to make money. Some entrepreneurial types can turn online sales into a business by buying low and selling high.
Selling Books and CDs on Amazon
Another option is to sell your collection of books and movies on Amazon.com. You can look at flea markets and thrift stores for bargain priced books and movies and then resell them. Make sure you take shipping costs into account, as well as the hassle of storing and sending the items.
Sending Handmade Items on Etsy
If you like to quilt, sew or make jewelry, Etsy.com can be your marketplace. The website makes it simple to market your crafts. You can sell vintage clothing and jewelry as well. Go look through your trunk of old clothes and see if there’s anything worth selling.
Flea Markets and Yard Sales
Many people enjoy spending their time looking for treasures and unique items at flea markets and yard sales. If you enjoy this, turn it into a business by snapping up bargain items and reselling them. You can also sell handmade items, including jewelry, quilts and clothes at flea markets.
Teach or Tutor
A fast way to earn money on your own schedule is by becoming a tutor or teacher. Whether you excel at math or English, you can provide tutoring services through your own website or by advertising at local schools. If you know a foreign language or want to help others learn English, you can also earn money by tutoring. Lessons in art, singing or a musical instrument is also profitable. With tutoring or teaching, you have the option to meet with students in a library or at your home.
Retirement is a great time to look into freelancing for newspapers or websites that interest you. Fiction writing is less lucrative, but if you are dedicated to submitting work, you can make some money with poetry or prose.