Money

Making money

10 ways to make money in retirement

Twenty pound notes

From running a B&B to writing a book about your area of expertise, here are some novel ways of potentially supplementing your pension:

1. Bed & Breakfast

Upside Modest start-up costs

  • Good cash generator
  • Repeat business factor
  • Low if not zero debtors' list
  • 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

  • Steady earning potential
  • No premises required (work from home)
Minimal start-up costs

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
  • 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
  • Certification costs £270 to get started
6. Garden Maintenance

Upside Healthy outdoors activity

  • No start-up costs
  • Multiple markets
  • Good cash generator
  • Low risk factor

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 Excellent profit potential

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

Home-based

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