Retirement Hobbies That Make Money AND Keep You Young (2024)

What’s one of the smartest things you can do when retiring abroad? Find a retirement hobby that keeps life exciting AND makes you money!

Here are sometried and tested suggestionsfor you…

  1. Teach English
  2. Become a Travel Guide
  3. Become a Freelance Writer
  4. Participate in Branding Contests
  5. Earn Money Locally or Remotely on Airtasker
  6. Build Your Own Online Business

Hobbies That Make Money #1: Teach English

English is your native language and you move to a non English-speaking country? Congrats! You have a skill that people will happily pay for.

One of the great things about teaching English is that it’s so flexible. You can teach for just a few hours per week, or several hours every day… it’s up to you.

How to get started? Ask in local schools or institutes if they need an English teacher. Place classified ads in stores or online. Let expats and locals know that you’d like to teach English… someone is bound to point you towards an opportunity.

These days, people all over the world want to learn English and in some places you’ll discover that it is a job that pays pretty well too. It also offers a fine way of getting to know the local people better and finding out more about your new home country’s culture.

Hobbies That Make Money #2: Take & Sell Photos

This hobby may be more difficult to make money from, but if it interests you then it is well worth giving a try. You aren’t a photography expert? Don’t worry. Nowadays there are so many courses out there. And half the fun in retirement is to learn something new, isn’t it?

For example, check out thisPhotography Masterclass at Udemy, a well respected online course provider.The course teaches you how to take photos and sell them for a profit.Perfect! That’s exactly what you need. The course has over 70,000 students enrolled and gets excellent reviews.

Retirement Hobbies That Make Money AND Keep You Young (1)

All of the countries we talk about at RetirePediahave incredible scenery and exotic cultural events. That’s a great market for professionally taken photos.

It’s even better if you live somewhere that is a little bit off the beaten track. People love to see evocative and unique photos of interesting places. As an expat, you’ll have the advantage of having a completely fresh perspective on the place you retire to.

Hobbies That Make Money #3: Become a Travel Guide

After you have been in your new home for a while it is likely that you become a bit of an expert on the area and the culture. This means that you could offer your services as a travel guide. Many tourists would love to have a knowledgeable guide who speaks their language and lives in the place they are visiting.

This can be a part-time job where you get hired every now and then rather than a full-time commitment. It is a fantastic way of meeting lots of new people and sharing your enthusiasm for your new home country.

Hobbies That Make Money#4: Become a Freelance Writer

Special Tip

International Living Magazine, one of the big players in the live and retire abroad space, pays up to $400 for a single article.

Oh, the joys of the Internet! It provides us with so many possibilities to do something we loveandmake money with it. Perhaps the most rewarding for someone like you who has moved abroad is that of writing for online or offline publications like travel and lifestyle magazines.

After all, you’ll learn lots of things on this adventure that you are keen to share with the world.

To get started, sign up for one of the many freelance sites, and offer your writing services there. You may want to do a few free guest posts on quality blogs first, to build up a portfolio. This will help you getting paid jobs.

My favorite freelancer marketplace isUpwork. Another good site, which specializes in writing jobs only, is callediWriter.

Retirement Hobbies That Make Money AND Keep You Young (2)

Need some help with your freelance writing career? The“Complete Freelance Writing Online Course: Beginner to Pro”will get you up to speed in no time.

Kirsty Stuart, the course leader quit her day job in 2012 to become a freelance writer. So she knows what she’s talking about. She’s mainly a travel writer, so her course is the perfect fit for you as someone who considers living or retiring abroad.

Hobbies That Make Money #5: Participate in Branding Contests

Now, this is a really unusual way to earn some money on the side, offered by a company calledSquadhelp. In 2018, Squadhelp was recognized by Inc.com as one of the 6 most innovative companies of that year.

Your task at Squadhelp is to help companies find the most suitable and memorable names, slogans or logos for their brand.

The process works in the form of contests. Brands are holding contests where you submit your ideas to. The contest holders rate your ideas. If your idea is selected by the company, you earn a cash reward which typically ranges between $100 and $300.

What I like about Squadhelp is that – unlike with other freelance opportunities – you don’t need technical skills like graphic design, photography, web design, or the likes to participate. All you need is a love of words and a knack for branding.

On the downside, you’ll only earn money when your idea is selected. But imagine your sense of pride when you are the brain child behind a startup’s name that may become the next Facebook!

Check out Squadhelp’s FAQs here.

Retirement Hobbies That Make Money AND Keep You Young (3)

#6: Earn Money Locally or Remotely on Airtasker

Airtasker lets you offer your skills both for local, in-person jobs (currently only available in Australia, UK and Ireland) and remote jobs that can be done online.

There’s a huge range of tasks.From home-based activities such as handyman services, cleaning or gardening to office-based tasks, such as marketing, graphic design and writing. There’s also a demand for unusual and exciting jobs like wedding help, cake baking or costume making.

Learn more about how Airtasker works here. Then check out their‘browse tasks’feature. By default, it shows you jobs posted within 50 kilometers (31 miles) from your location and remote jobs. Pretty cool!

Retirement Hobbies That Make Money AND Keep You Young (4)

Hobbies That Make Money #7: Build Your Own Online Business

This is – you guessed it – my favorite. Not only because it’s what I do, but also because it’s theone retirement hobby that enables you to build something of your own. You may have heard the saying… if you don’t build your own dream, someone else will hire you to build theirs.

You’ve probably done that long enough during your working years (built someone else’s dream), so isn’t it about time to build your own?

You are bound to have a passion, a skill or special interest that you can turn into a business. Or how about building a website about your new home country, or a certain part of it? The possibilities are endless, once you start thinking about it.

Click here for an in-depth reviewabout the system that I am using to build my website and online business.

Which one of these money-making retirement hobbies is your favorite? Or do you have another suggestion? I would love to hear about it. Please share in the comments below.

Retirement Hobbies That Make Money AND Keep You Young (2024)

FAQs

What hobbies can you do when you retire? ›

Retirement Hobbies on a Budget
  • Gardening.
  • Book clubs.
  • Bicycling.
  • Playing an instrument.
  • Teaching English as a second language online.
  • Podcasting.
  • Cooking/baking.

What do retirees enjoy most? ›

12 Ways Retirees Spend Their Newfound Free Time
  • Meals.
  • Shopping.
  • Volunteering.
  • Reading.
  • Surfing the internet.
  • Socializing.
  • Relaxing.
  • Exercising.

What to do when you retire and have no hobbies? ›

10 Ideas for Hobbies After Retirement
  1. Travel. There's no time like now to see the world around you. ...
  2. Get Outside. ...
  3. Have a Second Career Doing Something You Love. ...
  4. Give Back. ...
  5. Learn a New Skill. ...
  6. Get Outside Your Comfort Zone. ...
  7. Meet New People. ...
  8. Leave Behind a Financial Legacy.

What are the three things for retirement? ›

6 Things to Do If You're Nearing Retirement
  • #1: Find out where you stand.
  • #2: Boost your savings, if you need to.
  • #3: Plan ahead for Social Security.
  • #4: Consider tax-smart strategies now.
  • #5: Get a head start on future health care costs.
  • #6: Start thinking about retirement income.

What to do when retired with no money? ›

If you determine you need more than Social Security income to meet your retirement needs, consider these options:
  1. Set a detailed budget to minimize expenses. ...
  2. Downsize your home. ...
  3. Continue working. ...
  4. Take advantage of tax-advantaged retirement plans. ...
  5. Open a traditional or Roth IRA.
Jan 31, 2024

How do retirees make extra money? ›

Become a seasonal tax preparer for a tax firm. Write a cookbook with personal or family recipes. Use your language skills to become an online translator. Teach a senior fitness class at a local gym, like yoga or water aerobics.

What is the biggest retirement regret among seniors? ›

Some of the biggest retirement regrets include: A vague financial plan. No retirement goals. Counting on long-term employment.

Which retirees are happiest? ›

“In similar research that we conducted a decade ago, we also found a strong relationship between happiness and planning, as retirees who expressed the highest levels of satisfaction were also those who took concrete steps to put their emotional and financial lives in order at least five years before retirement.

What do retirees spend most of their money on? ›

Housing. Unless you own your home and you've managed to pay off your mortgage, housing will be your biggest retirement expense. The BLS report found that, on average, people 65 and older spend $18,872 annually for housing. This represents 36.2% of your annual expenses.

How to keep yourself busy when retired? ›

What Do the Happiest Retirees Do?
  1. Travel the World. One of the most popular things to do when retired and bored is to travel the world. ...
  2. Get a Rewarding Part-Time Job. ...
  3. Exercise More. ...
  4. Be a Mentor. ...
  5. Take Classes. ...
  6. Read. ...
  7. Learn a Second Language. ...
  8. Volunteer.

What to do when you have no interests in life? ›

What to do if you've lost interest in everything
  1. Let your loved ones know how you are feeling. Spending time with other people can help improve your mood. ...
  2. Set a sleep routine. ...
  3. Cut down on social media. ...
  4. Exercise. ...
  5. Embrace mindfulness and meditation. ...
  6. Talk to a professional.
Feb 20, 2024

How can I enjoy retirement alone? ›

Single in Retirement? 20 Ways To Live a Richer Life on Your Own
  1. Take Up a New Hobby. ...
  2. Take a Class. ...
  3. Join a Club. ...
  4. Assess Your Living Situation. ...
  5. Take a Solo Trip. ...
  6. Visit Your Children. ...
  7. Babysit Your Grandchildren. ...
  8. Cross Something Off Your Bucket List.
Feb 21, 2024

What is the $1000 a month rule for retirement? ›

The $1,000 per month rule is designed to help you estimate the amount of savings required to generate a steady monthly income during retirement. According to this rule, for every $240,000 you save, you can withdraw $1,000 per month if you stick to a 5% annual withdrawal rate.

What is the golden rule for retirement? ›

The golden rule of saving 15% of your pre-tax income for retirement serves as a starting point, but individual circ*mstances and factors must also be considered.

What is a good monthly retirement income? ›

Retirement Income Varies Widely By State
StateAverage Retirement Income
California$34,737
Colorado$32,379
Connecticut$32,052
Delaware$31,283
47 more rows
Oct 30, 2023

How can I retire and enjoy life? ›

20 tips for a happy retirement
  1. Get your finances in order. Organise your money so you can work out what you'll have to live on. ...
  2. Wind down gently. Ensure a smoother transition by retiring in stages. ...
  3. Prepare for ups and downs. ...
  4. Eat well. ...
  5. Develop a routine. ...
  6. Exercise your mind. ...
  7. Keep physically active. ...
  8. Make a list.

How do you live off interest when you retire? ›

There are a few different ways to invest your money to earn interest and live off of that income. The most popular investments are bonds, certificates of deposit (CDs) and annuities. The interest that you'll earn will depend on the amount of money you have in your account when you go to live off of that interest.

What is a good schedule for a retired person? ›

8 Ideas to Add to Your Retirement Routine
  • Create an exercise routine. ...
  • Create a shopping, meal planning, and meal prep routine. ...
  • Create a routine for socializing. ...
  • Add learning time to your schedule. ...
  • Introduce novelty. ...
  • Volunteering. ...
  • Create a wind-down routine. ...
  • Self-care.

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