They say if you love your job, you’ll never work a day of your life while earning money.
That notion of earning money while chasing your passions has new meaning if you’re closing the chapter on your career.
There are ways, in fact, to stretch your retirement savings in such a way that lets you enjoy hobbies while also boosting your assets.
So if you’re on the hunt for a new hobby, why not pursue one that will also make or save money? Here are some hobbies with earning potential.
Cast a net
Cast a net by going fishing.
First, it’s important to note that the hobby of fishing can get expensive. Think about the equipment, licensing, travel and other costs associated with this incredible sport.
Thankfully, there are ways to offset these costs. If you love to fish and can talk about it for hours and hours, then consider getting a job at a sporting goods store or as a fishing guide. Some passionate fishermen will even make their own lures and sell them. If you decide on being a fishing guide, think about how much fun you’ll have, the tips that will come your way and the opportunities to explore new fishing destinations.
At some point in your life, you might have fallen in love with a furry pal. But maybe your new lifestyle isn’t as suitable to caring for a pet.
If this fits your description and you want to return to the joy of being around pets, then you might consider pet care to earn some extra money.
Retirees can work for pet rescues or perform pet services like dog walking.
Walking a dog comes with the added benefit of taking in the outdoors and getting in some regular exercise. Dog walkers can earn as much as $20 for a short 20-minute walk. Watching after a pet overnight can earn you even more.
Do you love where you live? Then you might consider offering your expertise about home to others as a tour guide.
If your place of residence attracts a lot of tourists, there’s an opportunity to provide guiding services.
Special websites connect locals with tourists who are interested in learning more about an area and taking in all the sightseeing they possibly can.
In return for showing them around, you can earn upward of $50 an hour as a tour guide. Plus, exercise is part of the compensation package.
Remember how much you excelled in art classes? As a handcrafter, you can turn your skill for pottery into cash.
Your efforts in throwing and creating pottery pieces can quickly add up. Online marketplaces like Etsy invite crafters to showcase their work and capture a market. So as your inventory of handmade goods grow, why not see if you can offload them and earn some money for your creativity?
Hit the links for cash
While golfing is a stereotypical retirement activity, there’s also a space within the sport to earn money.
In fact, a lot of retirees will pick up part-time jobs at golf courses so they can be closer to a sport they enjoy and make money at the same time.
Whether it’s work within the pro shop or as a coach, you can easily turn your appetite for golf into something financially profitable.
If you’re still navigating your way through retirement planning, then you might consider a home equity conversion loan to boost retirement funds.
The home equity conversion loan is for homeowners over the age of 62. It lets you reimagine a traditional mortgage, eliminate monthly mortgage payments and significantly expand retirement income without having to move.
Contact us to learn more about how you can leverage one of your most valuable assets and make it work for you.
*(1) at the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; (2) charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; (3) the loan balance grows over time and interest is charged on the outstanding balance; (4) the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; and (5) interest on a reverse mortgage is not tax deductible until the borrower makes partial or full repayment. This material is not from HUD or FHA and has not been approved by HUD or any government agency.