Transitioning from the workforce to retirement can be bittersweet. A major issue that many retirees have to deal with is whether they should keep working, retire, or look for other activities to keep them busy.
On the one hand, you are now free to do what you wish. On the other hand, however, you may need some money to cater for your bills and expenses, so you will probably need to look for a way to make money in retirement.
Don’t panic, though, because there are plenty of ways you can make money while you enjoy your retirement. One common way retirees choose to make money is through their hobbies. Hobbies are things you typically enjoy doing during your free time.
Retirement Hobbies That Make Money
There are many ways to make some extra money while doing something you’re passionate about. If you are searching for ways to supplement your income, consider trying any of the following 10 retirement hobbies that make money.
Do you love working out and staying in shape? If so, were you aware that you can actually make money by showing others how you do it? Indeed – if fitness is your favorite pastime, you can convert it into a full-time or part-time job.
Here are a couple of ideas on how you can make money through your fitness hobby:
- Write an e-book about your favorite healthy recipes or workout routines
- Become a fitness consultant at your local sports center or gym
- Start a YouTube channel that offers fitness advice
- Offer private fitness lessons
There are so many other ways you can use your love for fitness and healthy living to make money. For instance, you can decide to start teaching your own yoga class, either online or in-person, if you have the relevant expertise or experience.
Fitness as a hobby doesn’t have to benefit your health alone; it can also benefit your bank account as well!
Making money from your favorite hobby can be extremely rewarding, and it’s especially fulfilling when your hobby helps other people lead healthier lives.
Cash won’t magically fall from the sky, but if you’re a seasoned or talented woodworker, it won’t be that hard to make some decent money from your woodworking workshop.
Wooden art, furniture, and other items can be sold for good money if you are good at what you do. If you’re a beginner, you can gradually learn the ropes and ultimately make some money from your new hobby.
You can sell your creations on the internet or at local art shows, exhibitions, and craft fairs. Alternatively, you can start teaching woodworking classes on your best techniques. And, you don’t have to be a professional woodworker with years of experience to use this hobby to make money.
Retirees who have a lot of free time on their hands can easily pick up woodworking as a hobby and, after a short journey up the learning curve, start making beautiful pieces of art, crafts, and furniture.
Another option would be starting your own small woodwork business or workshop that serves clients and other businesses. You should choose the path that excites you most.
And remember to keep safety at the top of your mind and always follow the proper precautions when using different tools and equipment. If you have some basic tools and skills, there are plenty of projects you can do to make some extra cash.
3. Flipping Furniture
Have you ever come across an old piece of furniture and thought to yourself, “I could easily reupholster and tidy this up, and it would look magnificent”? If this is you, flipping furniture may be the perfect retirement hobby for you.
While it may seem as easy as finding old pieces of furniture, fixing them, and then selling them, there is a lot more you need to do to ensure this hobby turns out to be profitable as opposed to being a loss-making venture.
Here are a couple of tips to help you flip furniture and make money while at it:
- Find a reliable and affordable source of furniture. You can check local thrift stores, flea markets, or even garage sales.
- Decide what pieces you want to focus on. It can be anything from dressers, couches, tables, chairs, or any piece of furniture that will fetch some decent money.
- Once you establish your criteria, let your creativity take over.
- Finally, you can sell your refurbished pieces of furniture on Amazon, eBay, or even host your own local sale.
By following these easy tips, you can transform your furniture flipping hobby into a money-making business.
4. Beer Brewing
You don’t have to work in a brewery or distillery to make money through beer brewing. Many people actually brew their own beer at home as a hobby. With a bit of time and resources, you can convert your home-brewed beer into a money-making machine.
The best place to start making money from your beer brewing hobby is to sell your excess beer to family and friends.
You can then proceed to start your own small business where you sell to locals in your neighborhood, town, or city. Alternatively, you can make money by participating in local or national brewing competitions.
However, the most effective way to make money from beer brewing is to sell your technical knowledge in the form of courses or recipes since alcohol production is usually heavily regulated. We don’t recommend breaking any laws while pursuing your money-making hobbies.
Ultimately, the amount of money you make depends on the quality of your products (either the beer itself or the recipes/knowledge on how to make the beer).
While it isn’t the easiest hobby to make money from, it’s definitely fun and rewarding. Also, you get to socialize and meet new people while enjoying and making money from your hobby.
5. DIY Crafts
Many people love crafting as a way to unwind and express themselves, but they may not know how to turn their favorite pastime into a profitable business venture.
Crafting is another amazing retirement hobby that can make you tons of money, considering the industry is estimated to be worth $40 billion.
If you are a hands-on person, there are plenty of items that you can make and sell, such as soap, pottery, knitted or crocheted items, jewelry, candles, and many more.
And this list, of course, doesn’t end there. A simple search on Google will reveal many DIY craft ideas that you can try out during your free time.
And, if you’re not sure where to start, you can watch or read tutorials on how to make different items from seasoned professionals on blogs and YouTube. The internet is an invaluable resource for anyone who wants to take up crafting as a retirement hobby.
Are you the kind of person who constantly takes pictures of your family and friends? Do you enjoy taking pictures of beautiful plants or animals? Or maybe you love taking beautiful scenic shots of magnificent landscapes and skies.
If photography is what you love, there are many ways you can make a living from it in retirement. Here are a couple of ideas:
- Try freelance photography or photojournalism
- Participating in photography competitions
- License or sell your work on stock photography websites like Shutterstock or iStock
- Sell photo frames and prints on Amazon or eBay
If you know how to capture some amazing photos, grab your camera and get started. You may never know whether your pictures will be on the front page of the newspaper.
For many retirees, gardening is the perfect hobby because it is both easy and fun. There is nothing like taking care of plants and watching them grow under your tender loving care and affection.
Many people love gardening as a hobby because they can enjoy the fruits of their labor and even share their produce with others.
You can sell produce or plants online or at farmer’s markets. Alternatively, you can teach others about gardening via online classes or workshops or start your own garden-based business. You can also set up your own website where you offer your products and reach out to potential customers.
If you live in an urban setting, gardening innovations like hydroponics (portable soil systems) and smart irrigation systems can help you grow plants using minimal space and resources. With a bit of effort and dedication, you can turn your love for plants into a profitable business venture.
Cooking can be an extremely rewarding and fun hobby, but it’s also one of those things you can easily do in retirement that can make you money on a regular basis.
Below are a few tips on how you can monetize your cooking skills in retirement.
- Start a Home-based Catering Business: This is probably one of the best ways to make money from your cooking hobby. This can be as easy as cooking for family and friends on special occasions or catering to bigger events.
- Sell Food via Online Delivery Services and Apps: There are many apps today that allow top-rated chefs to sell their much sought-after meals to local markets. There is an entire industry dedicated to home-cooked meals that you can join and make money from.
- Cook for Restaurants: Many restaurants and eateries are always looking for talented chefs who can prepare special meals on demand. You can reach out to such an establishment and see if they need any help.
With the rise of home meal kits and food delivery services, there are plenty of opportunities to earn money from your exceptional cooking skills.
After many years of toiling hard in your respective career, writing may be the perfect hobby for you because it requires minimal effort and a lot of introspection, which is ideal for people in retirement.
If you already practice writing as a hobby, did you know that you can make a decent living from your hobby?
It may not be easy to become a best-selling author and make millions from your work, but there are many ways you can make money from whatever kind of writing you engage in.
Here are several tips that will help make money from writing as a hobby:
- Start a blog and make money through affiliate marketing
- Ghostwrite stories
- Do freelance writing for companies
- Self-publish your work
- Guest post for blogs, magazines, and other online publications
All you need to make money from writing is to start writing, keep writing, and use the above tips to help you monetize your content.
People who love collecting things like books, stamps, and antiques can consider selling their items/collections on websites like Etsy, Amazon, and eBay. Retirees often own many items that they have collected or accumulated over many years, which they can turn into a source of living.
For instance, a retired librarian may have a collection of books that they read and maintain as a hobby. A retired diplomat may have many souvenirs that they gathered over the course of their career.
The people who collect these items consider this activity a hobby, and they can equally make money by selling or showcasing their items.
It is possible to transform almost any hobby – from cleaning, gardening, event planning, writing, or painting – into a money-making venture in retirement with a bit of research and dedication.
If you have a skill – like speaking a foreign language, drawing or painting, or playing a musical instrument – then teaching other people may be your preferred way to make money in retirement.
With some effort and a fair bit of entrepreneurial shrewdness, you can turn your favorite pastime into a revenue-earning venture. How much you ultimately earn depends on the amount of time and effort you are willing to invest in your hobby.
Marketing your products or services is also very important because no one will know about your work if you don’t tell them.
Retirement does not have to be scary or boring. Your hobby can be your ticket to both happiness and fortune! All the best!