Retirement is an interesting phase of a person’s life. While one may be convinced that they are no longer young enough or are just exhausted to continue working in any professional capacity, they would remain anxious about where life would lead them after they are retired. Everything changes usually as there are chances you would be at home more than in the office with nothing much to do at home.
The anxiety level might increase if you happen to realize that perhaps your bank account doesn’t have enough savings just yet to make you relax comfortably and focus on the joys you may have missed out on.
However, you can leave your traditional work or job and yet maintain a stable cash flow to make the most out of your retirement. You just need some basic skills and innovative, experimental thinking to get around finding income streams. These could be as follows.
Independent consultancy
As they say, there is no substitute for experience. Why not use it during retirement? If you had the passion for the career you had undertaken and have a solid expertise in it, you can become an independent consultant or a facilitator in the industry. In that way, you can choose your clients, work timings and charge at the rate you wish to, making the most of your goodwill and skills both. Knowledge and advice of wisdom are always in great demand.
Teaching and changing the lives of the youth
In case you felt that over the years money was a huge factor in not letting you do what you want, retirement is a great opportunity to fulfill that wish. If you have a hobby or a skill that you have excelled in well enough and enjoy it, you could teach it to others. In this way, you can help others and gain some personal benefits too. You might feel that your skills may not have market value or demand, but some professional skill have great value in that particular field. Changing people’s lives is a purpose which retirement can help fulfill and this can create a source of income too.
Real estate investments
During your professional life, you can invest in a property so that it becomes a source of income in your retirement days. Another great option can be to rent out a room or your entire house to tourists on platforms such as Airbnb. You can fix your rates and have your own rules. This can also give you the freedom to travel places unencumbered.
Driving around town
With retirement, you have plenty of time to kill and you have the flexibility to use it according to your requirements. If you happen to have a car of your own which is either old or barely used, you might get it through vehicle inspection and become a cab driver for companies such as Ola and Uber. Even though you will have to negotiate well with them in terms and conditions of the work. In case you love serving people and driving across lanes, giving someone a ride to the mall or airport during non-peak hours is a great way to keep yourself occupied and have some sort of income.
