Career Advice

Alternate Income Options for Retirement

Australia-Employment January 18, 2022

Retirement certainly doesn't mean what it used to. Today, even if you are ready to officially retire from your career, you may still need or want to continue earning money on a monthly basis. Finding alternate income sources is a great way to accomplish this. Let's look at a few options for income during retirement.

Real Estate

Real estate continues to be one of the safest types of investments you can make for passive income. Real estate almost always appreciates in value. If you are interested in purchasing real estate for rental income, you can find a dependable passive income by hiring a property management team to take care of the day-to-day duties of running rental properties.

Creating Websites

Another great way to earn passive income during retirement is to set up niche websites. These are sites that cater to a particular topic such as parenting, health, finances, fitness, and many more. Once these types of sites are up and running, you can hand off their day-to-day tasks to a site manager. A popular website with healthy traffic can bring in a nice passive income each month through advertisements and sponsorships.

Start A Caregiving/Housekeeping Service

Starting a business that you can hand off to managers is a great way to get a steady stream of passive income, once you have done the initial work of setting up the business. You can start a caregiving or housekeeping service with nothing more than a computer. Many of these types of businesses are really just in charge of screening employees and providing the platform for scheduling. If you allow the employees to act as independent contractors, they can receive payments directly from their clients, while you simply collect a fee for providing the platform, screening, and scheduling.