If you are thinking that it is hard to earn after retirement due to your age, you are wrong! Retirement is the best time to start your second innings, majorly because of the vast experience that counts. Even if you are drawing the regular pension that meets your expenses, it is always better to have more than one income source so as to lead an independent and dignified retired life. Here are some tremendous ways to earn during the golden phase of life.
Grab Freelancing Opportunities: People who had a career in editorial/IT/Banking sectors get lot many opportunities even after retirement. A computer with internet is all you need. Log into any of the freelancing websites available on the net, create an account and find opportunities.
Offer Online Training: Online training has evolved over the years. These days, students prefer online training over real-time classroom training as it is time-saving, flexible and cost-effective. Retired professionals with specialized skills can collaborate with the e-learning companies to offer online training. Else, simply upload videos in youtube and start earning through it.
Convert Your Hobby Into Income-Source: If you always had neglected your hobby at every point of your career as it was not a good income-source, now is the time to enjoy at the same time earn through it. For instance, if you are passionate about photography, start clicking and sell them online. You can earn royalty or commission with every use.
Work As A Consultant: If you have dedicated all your life gaining specialized expertise and advanced degrees, the best option to consider during retirement is the consultant career. Leverage all your experience, expertise, training, and connections to earn at your comfort. The best part is that you can avoid full-time workload. For instance, if you had a vast career in finance or website development, litigation etc, join companies as consultants. To find opportunities, sign up with job placement firms having a huge database of companies and their requirements.
Invest And Get Returns From Mutual funds: Use the retirement income to make suitable investments and generate regular income. Remember, retirement income is also subject to inflation during the retired life that may extend for 2 decades or even more. So it is important to allow the retirement corpus to generate wealth through the right investment channels like mutual funds.
Ideally, a personalized and well-diversified portfolio has to be generated after calculating the risk profile. For example, the retiree may consider major part into debt funds for liquidity. Seek professional financial advice from online advisors like ArthaYantra to generate your personalized portfolio and yield better returns.
In conclusion, it is better to generate multiple income sources even during retired life to live with dignity. The idea is to generate stable income during the golden phase of life. Live life completely!