Ah the retired life! You get to sleep in, spend the day fishing, playing with the grandkids, and live the rest of your life without the pressure of meeting and exceeding a job performance review. But after a year or two of not working, it is normal for people to want to challenge themselves by making an income–they just don’t want to be confined to an office or dive back into their old career field.
If you fancy yourself as the creative type, there are a number of opportunities out there for you to make some great money doing something fun and inventive. Even if you start up a business and work it part-time you can still make enough to take your loved one on an exciting vacation every few months and live the good life! Here are three ideas to help inspire a move in the right direction to extra income in your retired life.
Run a Food Truck Business
In 2017 the average full-time food truck grossed $300K. The earning potential here is fantastic, and you have a number of options. First things first, your initial startup cost will be significantly lower than opening a brick and mortar location. You will need to invest in a custom food truck complete with equipment. Then you simply have your annual business license fee and the general maintenance associated with a food truck. Your power will come from a generator, and the cooking range can be electrical or propane. With a low startup cost, a high earning potential, and the freedom to take your products to any location your customers frequent, operating a food truck business is a great way for creative retirees to make some sizeable cash.
Have you lived your life getting compliments on how amazing your home looks? If you have an eye for design, color combinations and how to mesh various styles, you may thrive as an interior designer in your retirement. According to 1Salary, the average interior designer made $48,000 in 2018. However, certain areas like New York City, Los Angeles and Miami will come with a higher earning potential. You certainly won’t get wealthy in your retirement doing interior design, but if you are looking for a creative way to supplement your retirement pension to take family vacations or invest in an expensive hobby, this would be an ideal startup business.
Local Tour Guide
Whether you live in a big city or out in the country, one ideal way for retirees to make money while exercising their creativity is to be a tour guide for small groups and private parties. The tourism industry is booking and there are no signs of it slowing down, not even in a challenging economy. Consider leading groups on historical or architectural tours through your city. If you live in the countryside create guided hikes with nature lessons. Allow your creativity and passion for your home area to educate others, and make some helpful income on the side.