A Passive Income Can Be Very Helpful in Retirement
Everyone wants passive income but not many know how to get it, especially if they’ve recently retired. Luckily, help is at hand. This list will point you towards some of the best ways to get yourself a side hustle without actually doing all that much hustling.
Dividend-Paying Stocks
Quite a lot of retirees get into dividend-paying stocks. You buy shares in a company, and they regularly send you a slice of the profits. It’s like getting a thank-you check for simply owning the stock. Companies Coca-Cola or Johnson & Johnson are particularly popular.
Selling Stock Photos and Videos
Stock photos and videos can earn you royalties for years if you’re good at making them. Upload high-quality shots to sites like Shutterstock, and get paid whenever someone downloads what you have. Popular subjects include city skylines, nature scenes, and workplace scenes.
Designing Fonts
Love typography? Then why not create custom fonts and sell them on marketplaces like Creative Market or MyFonts? Designers, businesses, and bloggers are always hunting for cool fonts. Once uploaded, your font can sell for years with no extra work from you.
AI Companies
Artificial intelligence is considered to be the future, and it’s certainly making people a lot of money in the present day. Investing in AI-focused companies can generate strong returns if the tech boom keeps building.
Creating a Mobile App
If you can create (or hire someone to make) a mobile app, you can earn through ads, in-app purchases, or a small purchase price. The app doesn’t have to be complicated - a simple tool, game, or day planner can prove to be very popular indeed if you do it right.
Making Greetings Cards
Don’t be fooled by people who say greetings cards are over and done with – they’re not. You can still make your own and if they’re good enough, you could sell them on Etsy to other people who like the nostalgia of a well-made card.
Cryptocurrency
Crypto has its ups and downs, but for retirees willing to stomach some risk, it can be a good choice. Popular coins like Bitcoin and Ethereum can grow in value over time, especially if you’re holding for the long haul. Just keep your investment small and diversified.
Voiceover Work
If you have a pleasant speaking voice, you can put it to work. People could hire you to record audiobooks or commercials. Upload your demos to sites like Voices.com, and once recorded, your work can continue earning royalties.
Selling Print-On-Demand Products
With print-on-demand, you upload designs for items like T-shirts, mugs, or tote bags, and a third-party company prints and ships them. You get a cut of every sale. Check out like Redbubble and Teespring and see if you could join the userbases there.
S&P 500 Index Funds
If you want stock market growth, S&P 500 index funds are your best bet. They track the 500 largest companies in America, so your money rides the market’s long-term upward trend. Many people do this, including billionaires.
Renting Out Photography Props
Photographers are always looking for unique props, from vintage furniture to quirky backdrops. If you’ve collected interesting pieces over the years, rent them out for shoots. It’s especially popular for wedding and event photographers.
Selling 3D Print Designs
Even if you don’t own a 3D printer, you can design printable items and sell the files online. Customers buy the design and print it themselves. You create once, and it’s sold endlessly. Sites like Cults3D or Etsy make it easy to market your creations, too.
Private Companies
Investing in private companies isn’t just for the wealthy anymore. Crowdfunding platforms now let everyday investors buy stakes in startups or small businesses. If the company takes off, you share in the profits!
Selling Sound Effects
Podcasters, video creators, and game developers are constantly looking for unique sound effects. They want everything from footsteps in gravel to creaking gates – things you wouldn’t think twice about. If you have some good recording equipment, this is definitely one to consider.
Renting Out Tools
If you own tools that often sit around unused - ladders, drills, power washers, that sort of thing - you can rent them out locally through apps or community boards. People get what they need for a fraction of the purchase price, and you make money from stuff you already own.
Selling Recipe EBooks
If you have a stash of tried-and-true recipes, package them into an eBook and sell them online. It’s really easy to do and apparently cookbooks sell very well these days. It’s a one-and-done project that can keep earning for years if the recipes are good enough.
Creating a Podcast
Podcasts can earn passive income through ads, sponsorships, or listener donations. And once episodes are recorded and uploaded, they can keep attracting downloads for years. Pick a topic you love, batch-record several episodes, and see what happens.
Selling Knitting or Crochet Patterns
If you’re crafty, design knitting or crochet patterns and sell them as digital downloads on Etsy. Crafters love unique, well-written instructions they can follow at home. Once you’ve created and uploaded the file, it’s all profit every time someone buys it.
Renting Out Camping Gear
Tents, backpacks, and camp stoves can fetch a good rental price if you’re willing to part from them for a few days. Outdoor gear often sits in storage most of the year, so renting it out is a big win. You make money, and renters get access to quality equipment without the commitment of buying.
Selling Kids’ Activity Printables
Parents are always on the lookout for fun and educational activities for kids, especially during the summer holidays. Create printable worksheets, coloring pages, or scavenger hunts and sell them online. If you’ve had kids yourself, you know the sort of things they like.
Recording Language Lessons
If you speak more than one language and have a flair for teaching, record beginner-friendly lessons and sell them as downloads or through learning platforms. You could even take your expertise to YouTube if you find that platform easier.
Selling Wallpaper Designs
Not phone wallpapers - actual home wallpaper! If you can create repeating patterns and are good at art, you can license or sell your designs to home decor companies. Once licensed, you get paid whenever someone orders your pattern, without dealing with manufacturing or shipping yourself.
Renting or Selling Board Games
Board game cafes and enthusiasts are always looking for unique or rare games to rent. If you have a large collection of ‘em, offer rentals for parties or game nights – or offer to sell, even. It’s niche but surprisingly profitable, especially for hard-to-find titles.
Laundromats
Ever considered owning a laundromat? They’re a quiet powerhouse of passive income. Once set up, they need little day-to-day oversight - just regular maintenance and collecting cash (or monitoring card payments). They do best in areas without many home washers and dryers, and they often turn into great moneymakers.
Billboard Rentals
You may not know this, but if you own land in a visible location, you can rent it out for billboards. Companies handle the installation and maintenance, and all you do is collect a check each month. Even small roadside spaces can bring in a surprisingly huge amount if they’re in a spot advertisers want.
Renting Out Your Driveway
In cities where parking is scarce, your driveway or garage space could be a secret goldmine. Apps make it easy to list your spot, and people will pay for the convenience. It’s income with zero effort, exactly what you need as you get older.
Farmland Leasing
If you own rural land, you can lease it to farmers for crops, animals, or renewable energy projects like solar panels. You get a set payment each year, and they handle the work. It’s one of the most hands-off ways to earn from land you’re not actively using, and you get the satisfaction of knowing you’re helping.
Blogging
It takes time to build an audience with blogging, true, but if you’re a good enough writer you should be able to attract readers – some of whom will be willing to pay. Many bloggers have a Patreon which their readers contribute to.
Royalties From Books
If you’ve written a book, self-publishing can bring royalties for the rest of your life. Digital platforms like Amazon Kindle Direct Publishing make it easy to sell eBooks and paperbacks worldwide. As with the blogging, you just need to be a good enough writer.
A YouTube Channel
Create videos, upload them to YouTube, and earn money from ads, sponsorships, or even merch sales. It really is that easy! You just need to have a good camera, be charismatic, and pick a subject that a lot of people are already interested in.
Affiliate Marketing
Affiliate marketing pays you a commission when someone buys a product through your special link. You can promote items on a blog, YouTube channel, or even social media if you have a lot of followers. The key is recommending things you truly like and trust - readers will be able to tell if you’re faking enthusiasm.
Vending Machines
More and more people are getting into vending machines these days. (No... not literally...) They can be surprisingly profitable if you place them in high-traffic areas and once stocked they require only a little maintenance. You can even hire someone to refill them for a cut of the profits.
Renting Out a Room
If you have extra space at home, renting out a room can bring in monthly income just when you need it most. Whether it’s to a long-term tenant or short-term guests via Airbnb, it’s one of the most famous ways to get yourself more money. Just make sure the renters won’t destroy the place.
Gardening for Your Neighbors
Plenty of folks love a beautiful garden but don’t have the time, energy, or know-how to keep it thriving. Here’s where you come in. Offer planting, weeding, and maintaining services for neighbors - stuff you'd be doing in your own garden anyway - and they will be happy to pay you what you’re worth.
Renting Out Your Backyard for Events
If you’ve got a really nice backyard, you can rent it out for small weddings, photo shoots, or big parties. Online apps now make it easy to list outdoor spaces, and all you need to do is be present and make sure the place is looking good.
