Retirement can be a great opportunity for the entrepreneurially minded to make a bit of extra cash, or even start a new business. The great thing about exploring opportunities in retirement is that you have the time weigh up the pros and cons of any venture. Here are a few suggestions for making a bit of extra cash during retirement.

Offer A House Sitting Service

The nice thing about this option is that it means you are able to travel to different places, and in many cases be paid for it! You can stay on location longer and live like a local, which could great if you’re house sitting takes place in some idyllic Cotswold village or other scenic location. You won’t make mega bucks, but you can effectively enjoy a free break. There are, of course, responsibilities such as looking after a family pet. Very often work can be found through an agency which cuts the risk down for the homeowner since you’ll have already been vetted. Some agencies will even send you abroad.

Writing Blog Articles

If you have a flair for writing, even if you haven’t been published before, writing blog articles could make you some extra income. The great thing about writing a blog is that you can write about absolutely anything, from gardening tips to world travel. But bear in mind that the idea is to attract a readership, so it may be best to go for something with wide appeal. Usually the articles need only be short, around 500 words. When your blog is up and running money can be earned through advertisements, either by designing your own and charging a rate, or by making use of existing ad services such as Google. Closely connected to this, you can write articles for someone else’s blog and receive payment for it. There are online agencies that will ask you to write a sample piece, then after you’ve been accepted you can select writing jobs from an online jobs board.

Take Part In Clinical Trials

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Some people instantly dismiss the idea of volunteering for a clinical trial, either because they are not sure what is involved, or they have heard urban myths about trials where the volunteers “had their toes chopped off”. Of course, there is an element of risk involved with taking part in the trial of a new medicine but your toes are certainly safe and your participation could potentially help thousands of others enjoy a better quality of life.

Clinical trials are conducted in a highly regulated and professional manner, and the safety of volunteers is always paramount. Volunteers are essential for the advancement of medical science, and without them there would be no new medicines. Before you are permitted to take part in any clinical trials you will be tested for suitability by means of a screening visit. If you pass the screening test, then you should be eligible to proceed. Many tests won’t involve you having to stay on site either, but will simply mean you have to call in at given times. You can only participate in one test at a time, and must wait three months before enrolling on a new trial. The money you can earn is reasonably good, generally volunteers earn over £100 per day for the duration of the trial. Some trials last for thirty days or more.

Trade On Ebay

Trading on Ebay can be relatively easy. Just register and create an account and click on Sell, and you’ll be guided through the selling process. Many sellers start by selling a few unwanted items around the house before moving into opening their own online business. Some sellers sell items that they themselves have produced such as paintings or other pieces of creative craftwork. Other sellers source items from overseas or a wholesalers with a view to selling them for a profit. There are facilities on Ebay to research what the best sellers are, so it’s best to do some market research first. As with everything, the trick is to start small before moving onto bigger things.

Write Online Book Reviews

If you’re an avid reader, then you could earn some extra income by writing book reviews, so long as you don’t give too much of the plot away. You could either join a review site that pays you for your reviews, or you could set up your own blog and earn income as an affiliate. Reviews of recently released titles are bound to get a good number of views, particularly those that are being studied in the school curriculum. Classic literature will draw in students who are studying those particular books for their studies. There are books to be reviewed besides fiction, such as biographies and travel books, in fact just about any genre you can think of.

Clearly, retirement doesn’t mean an end to earning opportunities. There are plenty of options out there, and it’s an ideal time to explore them since you have the time to really do your research. Who knows, maybe retirement will open up doors for making some extra cash or even starting a new business that you otherwise would never have even considered.

About The Author

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I've worked as an Occupational Therapist for many years dealing with physical and mental health patients, both in hospitals and the community. Living a healthy, well balanced life with a good diet, regular exercise and a taking a positive outlook are crucial to becoming a very well being indeed - sometimes easier said than done!