10 ways to make money in retirement

Alphabet F From running a B&B to writing a book about your area of expertise, here are some novel ways of making a tidy sum of extra cash

Online tradingOnline trading
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

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