Taking care of your finances is important at any age but the older we get, the smarter we have to be about our financial choices. Here are 5 ways you can put a little extra money in your pocket during retirement.
1. Sell Your Stuff
- By the time you retire it would be safe to assume you have accumulated a lifetime's worth of clothes, toys, furniture, and books. By downsizing you can put some extra cash in your pocket all while getting rid of that clutter.
2. Get a Part Time Job
- Whether your skills are organizing, gardening, cleaning, clothing alterations, etc it is likely that someone in your community is willing to pay for your services. Scroll through job boards online, check out local bulletin boards and put yourself out there.
3. Maximize Social Security
- It is recommended by many that if you are in good health to prolong taking Social Security benefits until closer to age 70. Your Social Security payments increase every year between age 62 and age 70 so if you can afford to delay you should do so.
4. Rent Out Your Space
- If you live in a popular travel destination or a big city you should consider renting out your place or a room to tourists. If the thought of other people being in your home doesn't sound ideal maybe consider renting out your extra space for storage.
5. Check for Senior Discounts
- Most places you go to have some sort of a senior discount. Some advertise it some do not. You only know if you ask. Why not save yourself some cash just for owning your age.
For Healthy Hobbies to Enjoy as Senior: Click Here