Can you pay your mortgage, grocery, rent, insurance, medical expenses and other bills at $ 2000 / month? If you can, what lifestyle can you guide?
Millions of retirees across the United States spend it every day.
The Social Security Administration has reported. 50% of elderly married beneficiaries and 70% of singles rely on Social Security. For more than half of their monthly income. Given that the average Social Security check is around $ 1361 / month, this is a very difficult place for many retirees.
And I’ve met them. Many of them
Every year at my insurance agency we meet thousands of baby boomers who come to Medicare at the age of 65. Social Security Check every month.
It doesn’t matter how you cut it, even the best retirees on a budget can have problems with Social Security income.
Sometimes budgeting is not a problem when it comes to personal finances.
Sometimes there is a problem with income.
Fortunately, there is good news on this front, because we live in an age where there are more opportunities. Make extra money Than in the past. Our digital world has made it possible, and it could not have come at a better time.
When you’re on a fixed income and struggling to make ends meet, a one-sided move that pays you even a few hundred dollars a month can be a great help.
On Boomer benefits, We asked our Facebook fans – massive baby boomers and seniors – what kind of side hostels they are pulling out in the real world. What we have learned is that there are many ways in which creative retirees are increasing their Social Security income.
Today, I will share some of their stories to give you some ideas for your possible side hostel that can potentially help you reduce financial stress and provide you with a better lifestyle during retirement.
Teach from home.
Did you know that you can get paid to teach English without leaving home? That’s fine – this is a great way to get acquainted (gain, obtain) with people you know and love.
Valerie Hiddle shared with us that she uses an online teaching platform. Cheap Teaching English to students in Saudi Arabia, China, Japan and even Brazil. She found this job opportunity by searching online for part-time jobs from home. This part of working from home was necessary so that he could make his own schedule and work only when he felt like it.
What mattered to Valerie in her search for Side Hustle was her sense of purpose and productivity. And, because it has a large number of weekly students, the job pays for its expenses in cash. She earns $ 0.17 per minute when she is online with a student, which comes to 10.20 / hour.
Not bad for a job that doesn’t require him to leave home. And this part-time gig doesn’t even require a degree. You may be approved in two days to teach such gimmicks (although for some applicants it may take up to two months).
Another retiree we spoke to described how he used his part-time teaching income to convert it into retirement. Our client Nancy taught full-time at a college and taught health courses online part-time as an assistant instructor. When she was unexpectedly fired from her full-time job, she turned to part-time health teaching and retired.
JD Note: When Kim’s father retired from teaching high school English, he also earned some extra money by teaching college-level English classes online.
Nancy said she has a physical disability that will make it difficult for her to teach in the classroom or report to the office for work. Her ability to teach from a laptop through the school’s learning management system has allowed her to work even when she is hospitalized. Once the courses are created, its main function is to respond to emails and grade assignments.
She likes that it keeps her active and says she will get bored without it, so she wants to continue teaching as long as possible.
Nancy shared that she and her spouse currently use their part-time income to cover their Social Security income benefits to avoid drowning in their retirement savings for as long as possible.
Turn your passion into part-time income.
Janine Handley has been a creative artist and graphic designer all her life. Now that she is retired, she works as a remote graphic designer for clients outside of her home.
She has also succeeded in turning this passion into a business in her own neighborhood. Many years ago, when she moved to Florida, she moved to the 55+ community. There are many active seniors who want to learn and discover new things in their retirement.
Jenin noticed that many residents did not know how to use the camera and editing features in their smartphones. He helped a woman in her eighties choose a new smartphone and iPad and started weekly lessons to show her how to use both.
It flourished in a community course in which Jenin helps introduce other people to smartphones and smartphone photography. She can communicate and teach these skills in a way that other seniors understand and appreciate.
Jenin charges a small fee for this and the money she earns helps increase her income and is able to afford some extra things like travel, leisure and eating out.
As an artist at heart, she never intends to retire from this side hostel. Think about your hobbies and emotions. Could there be a way for you to turn it into a revenue generating side gimmick?
Another side hustler who never intends to retire is our client cat, the professional Santa Claus.
it’s fine. Santa Claus! How good is it for an income generator?
As a member of three professional Santa Claus organizations, the cat is seen everywhere from schools and restaurants to big city events to spread the holiday joy. He emphasized that the side effect is that it really comes from your heart, not from the shoes and suits you wear.
He enjoys talking to children of all ages and listening to their needs. Sometimes a job requires emotional stability because requests are not always about gifts or toys, but sometimes it can include a plea that Santa helps the child’s father find a job.
Still, Billy admits that what he likes most is visiting the homes of children who are either chronically ill or homeless. These visits fill his heart while the earnings he earns help him and his wife to pay some of their expenses in retirement.
Being Santa can be a serious business emotionally and professionally. The cat has to pass a criminal background test every year and regularly attends schools and seminars to hone its skills. He is also a member of three professional Santa Claus organizations.
Techway: Think about the things in your life that you really like to do. Can your passion benefit someone else? How can you make money from it so that you can earn some income by doing activities that feel like hard work.
Become a contractor for your former employer.
When Roberta Beckyak retired from working in the lunchroom of a local school, she felt so bad about leaving him that she became a volunteer whenever she had a small staff. They were in a hurry to take her on offer, so now she works one day a week and sometimes other days are called.
She works 15 hours a week from home for a coffee shop and roasting company owned by her daughter and son-in-law. She takes care of their receipts, salaries, quick box expenses, sending statements and the like.
The worries on her side have given her the ability to pay some medical bills and have some pocket money to spend on her grandson’s little things. She also loves the honor of helping her family grow a business.
She plans to work in the school lunch room with her family and maybe another year because she enjoys seeing her co-workers and children at school.
Roberta recommends that other retirees check side income from their local schools because lunchrooms are often looking for people who are willing to fill up on an on-call basis.
Techway: Consider discussing a part-time job with your last employer before retiring. You never know when they might agree! If this is not an option then who knows if he has a business? Are there any part-time services that you can offer with your expertise?
Get financially fit with fur balls.
I honestly can’t think of a side gig that I enjoy more than paying to hang out with some skinny kids. Busy working professionals are using pet seating services more than ever – JD told me he uses them often. Rover Book a walk for your dog – and the great thing about this particular job is that you can contract even though there is a pet seating service, or you can post your services on neighborhood sites. Next door.
This side move is really flexible because you can only work when you want, and you can create a pet site in your own home or in someone else’s home for a little more cash.
I am a busy businessman myself, work long hours in the office and often travel for business. When I’m leaving overnight, I pay my friend’s mother, who is retired, to come and spend the night with her fur children.
It helps me sleep at night to know that someone is taking care of them, but I also know that my pet sitter is a retiree who really helps to meet this amount by the end of it. Can use for This is everyone’s victory.
Not sure about overnight? You can start with a day trip or a dog walk, both of which are other pet services that many working people voluntarily pay for.
What will be your next aspect?
These are just some of the fun and creative ways to earn extra retirement income that some of our own social media followers have. Boomer benefits Shared with us No matter what kind of job you used to have, there are endless opportunities for new things you can do to meet your income from Social Security and investments when you retire.
If teaching or pet sitting is not your thing, check out our post. 50 Easy Ways to Make Money in Retirement You can also check out Ryan Helms for additional inspiration Struggle for freedom. Podcasts I’ve shared with dozens of people when they’ve shared that they want to work part-time but aren’t sure what they’re doing.
The key is to understand that our digital world makes it easier than ever to put a few extra dollars in your pocket each month, and sometimes it makes a little difference.