10 ways to make money in retirement

1. Bed & breakfast

Upside

• Modest start-up costs

• Good cash generator

• Repeat business factor

• Low if not zero debtors' list

Downside

• Requires patience to put up with a constant flow of strangers in the home

2. Home handyman

Upside

• Maintains a vital link between previous workplace activity and retirement

• Minimal start-up costs

• Steady earning potential

• No premises required (work from home)

Downside

• Irregular hours

• Access to a vehicle would be essential for most trades

3. Tuition service

Upside

• Excellent earnings potential

• High profit margins

• Home based

• Zero start-up costs

4. Floristry

Upside

• Contractual arrangement guarantees repeat business on a regular basis

• All year round trading potential attached

Downside

• Reliable supply sources essential

• Initial investment in stock required

5. Retirement coaching

Upside

• Under-worked and rapidly growing marketplace

• Domestic and group coaching opportunities

• Huge earnings potential

• High profit margins

6. Garden maintenance

Upside

• Healthy outdoors activity

• No start-up costs

• Multiple markets

• Good cash generator

• Low risk factor

Downside

• Evening work involved.

• You'd probably require to bone up on design and planning (thanks to the multitude of television gardening programmes)

7. Desktop publishing

Upside

• Home-based

• Excellent profit potential

• Ideal for retirees who have a home computer and the technical know-how

• Multiple market opportunities: local businesses, groups, institutions, etc.

Downside

• Constant requirement for canvassing new business

8. Start your own online business

Upside

• Minimal start up costs

• Work your own hours

• 24 hour trading

• Marketplace: the Planet Earth (perhaps beyond)

• Automatic order taking and payment processing

• Instant delivery of produce

9. Make money on eBay

Upside 

 • Zero start-up costs

• Low risk factor

• Good earnings potential

10. Write a book on your know-how

Upside

• Source of astonishing personal enrichment in the third age journey

• Minimal cost

• Using Kindle Publishing Direct you can publish your book in less than 5 minutes, reaching millions of readers on Kindle stores worldwide.

Informative, in-depth and in the know: get the latest news, interviews and reviews with Saga Magazine.