Unexpected Sources of Retirement Income
Retirement should be your time to relax and enjoy life, without alarm clocks and meetings. Unfortunately, saying goodbye to your boss also involves saying goodbye to your paycheck.
If you haven't already saved ample funds to a 401(k), IRA, Health Savings Account, or a regular old savings account, you may be nervous about making ends meet. Social Security certainly isn't going to cover your lifestyle on its own. And it's tough to whip up dividend income, rental property income, or business income without a large cash outlay. The good news is, there are ways to raise money in retirement, even when you don't have investable cash. Here are six of them.
Your Closet or Basement
Chances are, you have stuff sitting around your home that you don't need. Books, clothes, jewelry, electronics, and even furniture are all sources of cash. There are websites and apps that specialize in certain types of goods, like Poshmark for clothes. Or, you can try a general marketplace like the Mercari app for all your shippable goods. Find local buyers for your larger items, like nightstands and bed frames, on Facebook or the LetGo app.
Some creative thinking could turn your favorite hobby into an income stream, too. If you are crafty, you can sell handmade goods on Etsy. Or maybe you're an amateur photographer. In that case, license your best photos on sites like ShutterStock and DepositPhotos. You can also sell personal stylist consultations, astrology readings, relationship advice, and even cooking lessons on Fiverr.
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