25 Ways to Earn Money in Retirement

Retirement can be a scary transition for many people who’ve become accustomed to a steady paycheck. Will you have enough income from Social Security and other investments to fund your life? Taking a proactive approach to your budget is the best way to ensure your financial stability. Today, we’ve got 25 ideas to earn money in retirement.

Ways to Earn Money in Retirement

Need a way to make some extra cash? Take a peek at our 25 ways to earn more in retirement. The best part is that you can do all of these on a part-time and flexible basis!

1. Sign up with a temp agency

2. Walk dogs or pet sit

3. House sit

4. Write articles

5. Post a skill on Fiverr or Upwork

6. Help at your local library

7. Sell craft hobbies on Etsy

8. Rent a room in your home on Airbnb

9. Work holiday retail stores

10. Become a substitute teacher

11. Do some secret shopping

12. Work as a virtual assistant

13. Drive for Uber or Lyft

14. Cook or cater for busy individuals

15. Become a personal assistant

16. Write an Ebook

17. Become a tutor

18. Transcribe audio and video content

19. Coach a sports team

20. Consult for the industry you worked in

21. Care for others (children and older adults)

22. Clean offices and homes

23. Offer mobile detailing

24. Mow lawns or offer landscaping and gardening help

25. Use your handyman skills

How Much Money Can I Make During Retirement?

Now, depending on your age and whether you are drawing Social Security benefits, you might have to be careful about how much money you earn in retirement. In 2024, if you are under full retirement age (FRA), you can only earn a maximum of $22,320. If you reach FRA during the year, you can earn up to $59,520 during the months before you reach that age.

Once you reach full retirement age, there is no limit on how much you can make while receiving benefits. Let’s look at a couple of examples based on those 2024 numbers.

If you are under FRA for all of 2024, you are entitled to $800 per month. If you decide to earn money and make $32,320, which is over the $22,320 limit, your Social Security benefits would be decreased by $5,000, or $1 for every $2 you earned over the limit. Instead of receiving a total of $9,600 in Social Security during the year, you’d only get $4,600.

Now, let’s pretend that you’ll reach FRA in August of this year. You’d be entitled to the same monthly benefits we listed above ($800 per month or $9,600 for the year). If you earned $69,000 from January through July, you’d be over the annual limit by $3,480. In that case, your benefits would be reduced by $1,160 through July. Starting in August, you’d receive the full $800 per month, regardless of how much you earned.

Earning extra money in retirement will help you afford a better lifestyle, pay off any debt, and maintain good credit, so it’s a win-win all around.