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Retirement is a time to enjoy the fruits of all your labours.
It's when you finally have all the time you need to enjoy your loved ones, tackle hobbies you could never quite get to when you were younger, and just generally catch up on some well-deserved rest and relaxation.
However, no longer holding a full-time job doesn't mean you can't make some money on the side.
There are many surprising ways Aussie seniors can make an extra buck.
Among these is starting your own yachting business: this may sound complicated, but it's not that hard to find commercial boats for sale online.
There are also more conventional options, like renting out your extra homes, freelancing and tutoring.
If you're a retired senior but would like to work in some capacity, whether to make a little extra money or simply to give yourself something to do, keep reading.
In this article, we'll be going through some side hustles Australian seniors should consider.
Becoming a tutor or part-time teacher is a great way to monetise any academic expertise you might have.
There's a wide range of subjects students need help with. An incredibly popular one is English as a second language, or ESL. You'll need to be certified, which is a fairly simple process. If you're proficient in another language, you'll be sure to find people who are willing to pay to learn it. Some popular ones are French, Chinese, Japanese and Spanish.
You can also teach subjects like maths, science, history, economics, and more. If you have an academic background but don't want to be a full-time professor, you can also take up a tutorial position at a university.
Starting your own business is a daunting prospect, but it's also extremely rewarding. While it's true that entrepreneurship is a way of life, and that you need to make sure that you have the time, resources and emotional capacity to go into it, being your own boss gives you an unparalleled sense of freedom.
One of the most popular businesses for seniors is yachting. After all, it's a hobby lots of us enjoy anyway, so why not monetise it?
There are plenty of services you can offer with a boating business: fishing charters, surfing charters, overnight charters, and many more. All you need to do is figure out what you want to specialise in and buy a boat that suits your needs, and there are plenty of places online where you can do just that.
No matter your age, freelancing is a great way to monetise your skills. And nowadays, there are loads of freelance pursuits that people are willing to pay for. Whether you're great at writing, web design, voice acting, etc., there's always going to be work available for you.
If you're not sure where to start, here's a list of some freelancer websites where you can find work. Whatever your specialty, it's crucial to build a portfolio of work to show potential clients. A simple way of doing this is setting up a website on a platform like Wix or Squarespace where you can easily showcase your work and start building up your name as a creative professional.
Remember that freelancing is as much about keeping existing clients happy and coming back to you for more work as finding new ones. So take on every project with a commitment to provide a quality finished product. So long as you're able to do just that, you should be able to build together a strong enough customer base to supplement your retirement income all throughout your golden years.
And speaking of your golden year, If you've invested in some property over your lifetime, or if you have some extra cash and you'd like to buy an extra home or two to add to your property portfolio, now is definitely the time to do so. In fact, leasing out second or third homes has been a great way for seniors to make some passive income for quite a while now. There are also several ways that you can set up this money-making arrangement now.
Traditionally, people lease out property by finding renters either through an agent or through their own connections. You'll want long-term lessees, as it's not always easy to find new people to rent your place. This is a great way to make a stable income to support your lifestyle.
These days, it's also possible to offer your home for short-term stays through sites like Airbnb. You'll often be able to charge more on a per-day basis than with a traditional lease agreement, but since stays are shorter, you'll be giving up a little stability.
Just because you're retired doesn't mean you can't earn some income on the side.
These four side hustles are both realistic and rewarding, and give you something to focus your energy on.
Besides earning you an extra buck, finding a part-time job also gives you a sense of achievement, as well as adding some structure to your days.
It's also a fantastic way to keep your mind busy.
We hope this article has shown you that whatever skills you've built over your lifetime can be turned into fulfilling work even once you've retired.
What are you waiting for?
Today's the day to get started on one of these four retirement side hustles.