If things have gone your way, and you find that you can retire at a relatively young age. You might discover the practice of just hanging out all day to be less than thrilling. Even if you retire to an exotic location like Thailand. The beaches and the temples will quickly lose their charm, and the night life with the other expats might not be your cup of tea either. The trick to keeping your edge in retirement is to find some type of activity that can give a little something back. A small business, or a hobby that you can take pride in, and if it brings you a little spending cash, what can be wrong with that? Here are a few ideas about making some side money in your golden years.
- Start a Business: In your life there must have been a thing or two that caught your interest while you were working your real job. Maybe some type of craftsmanship or perhaps you have some unique artistic abilities. Many people dream about opening a café or a bar. If you choose wisely, going to work will be more fun than hanging out with the other retirees. However, you need to be clear about what things you can, and cannot do, in the country you are in. In Thailand, for example, there are specific restrictions for foreigners doing business. If you are considering starting a company in Thailand, you should consult with an expert before proceeding. You will not be the first to be surprised at what things are forbidden.
- Write: Now that you have gained a certain amount of life experience. It might be time to put some of those memories down on paper. You have the time, and if you are a reasonably good writer, you will find that it can be easier than you thought. Or perhaps you have some imaginative novel burning in the back of your mind and maybe this is the time to bring it to life. Publishing books are easier now than ever before. These days you can hire ghost writers, editors, cover work artists. And you can self-publish as well. Companies like Amazon have made the process inexpensive. One other outlet for writers is writing content for the internet. There are literally trillions of websites these days and many are hungry for content.
- Consulting: A traditional way of making money in your retirement is to put your hard-earned experience to work and share your know-how for a fee. Consulting work is a great way to keep profiting from the things you learned, without worrying about punching a clock or impressing the boss.
Retirement doesn’t have to be dull, even if you move to a foreign country, there will always be ways to keep your mind fresh. It is important to keep a little of that competitive edge going. Business is one way to keep your mind sharp. And mental health is very important to live a long and healthy life. Since you will be retired, you can enjoy the experience instead of worrying about making ends meet.