11 Best Retirement Hobbies That Make Money in 2024

Looking for a list of retirement hobbies that make money? Want to earn some extra cash or start a money making hobby?

You’re no longer working full time and you’re ready to do something profitable and enjoyable with your spare time. Perhaps you need to earn extra retirement income to make ends meet or you just want a fun side-hustle that boosts your financial security and lets you live your best life.

Like many retirees, you may find that living off of your retirement savings, social security checks, and Roth IRA is insufficient.

Good news for you! You can generate extra income after retirement with just a hobby. This way, you get paid to do something you love. Hobbies like learning to play a musical instrument or to speak a foreign language are fun, but they aren’t as easy to monetize as other hobbies.

Money-making hobbies are a great way to spice up retirement. For starters, they give you a compelling reason to get up in the morning, something enjoyable to fill your days, and extra cash for evenings out.

In this guide, we will discuss the best retirement hobbies that can help you make a little extra money. Whether you’re looking for an idea that earns you quick cash when you need it or something that can generate a full-time income, we have you covered! Keep reading to learn more about how to supplement your retirement plan.

Inexpensive Hobbies for Retirees

If you’re wondering how to earn money when retired, here are the best money-making hobbies for older people that might interest you. In truth, these are just a few of the best hobby ideas and new skills you can turn into an income generator, there are many more!

#1. Photography

One of the best retirement hobbies for making money is photography. You can create an income stream out of your love for taking pictures of people, animals, objects, or nature.

The best part with photography is that you don’t need to be an expert photographer to get paid. You just need to be good enough.

Having the right photography equipment is helpful. If you’re just starting out, get an entry-level and do upgrades as you gather more experience.

Here are some ways to make money from your photography hobby as a retiree:

• Sell your photos on your own website or stock photography marketplaces
• Photograph small businesses like restaurants, cafes, and stores
• Enter photography contests or sell your services with gift cards

#2. Freelance Writing

If you like writing, you can monetize the hobby too. What makes this one of the most profitable retirement hobbies that make money is the fact that there’s a high demand for good writers.

You can get make money as a freelance writer sharing about something you’ve gathered experience on over the years. It could be parenting, marriage, pets, or something else. Experienced writers online can make $100 a day if not more.

As a freelance writer, here are some ways of earning:

• Find writing jobs on freelance marketplaces like Fiverr and Upwork
• Write blog posts for big online publications that hire writers
• Write sales copies like emails and landing pages for businesses online

You could even take it a step further, set-up your own website, and start earning from affiliate marketing!

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#3. Tour Guide

Maybe you like touring, adventures, solo travel, and sightseeing. You can be a tour guide in your local area or city if it attracts tourists and travelers from time to time.

This is a great retirement hobby for those who like socializing and staying active. You can get tips from tourists, which can add up quickly.

There are several ways to get paid as a tour guide, including the following:

• Become an adventure guide
• Give city walking tours during the day
• Offer tours based on your specialties like food tours and winery tours

#4. Real Estate

Is real estate something you’re passionate about? Maybe you’ve been reading and learning it a lot but haven’t yet practiced it yourself.

Real estate is one of the best ideas to create wealth. But unlike the other retirement hobbies, you’ll need money to venture into real estate. The good thing s that you can find real estate opportunities in whatever place you live in.

Below are some ideas to earn money as a retiree from real estate:

• Buy and hold residential rentals
• Renovate and flip homes
• Invest in commercial real estate
• Rent out a room in your own home

#5. Small Business

Have a talent for starting businesses or coming up with new business ideas? You can earn extra income from that too.

Maybe you’ve always had a dream to own a business selling something in your free time. The period after retirement is great for starting a small business or side hustle.

There are many ways you can start. You can either choose an online small business idea or a traditional one based on your interests, knowledge, and skills.

Many online businesses have minimal startup costs. On the other hand, traditional businesses require investments like a storefront.

Here are some online and offline business ideas for retirees to make money:

• Work as a consultant in your area of expertise online or offline
• Start a tutoring business online or offline
• Become a bed-and-breakfast owner

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#6. Event Planning

If you like planning events, the good news is that it’s one of the top profitable retirement hobbies that make money. Your work is to simply make events you’ve been assigned to plan memorable for everyone.

This kind of money-making hobby suits any senior citizen that is resourceful and attentive to detail. You can pick one niche to focus on or opt for multiple types of events as an event planner.

The trick is to offer good customer service. This way, you’ll get more gigs as well as recommendations.

Here are a few ways to make money planning events:

• Plan corporate meetings
• Organize wellness retreats
• Become a wedding planner

#7. Handcrafting

Can you make decorative objects using your hands? Do you like doing it? If so, you can also make money from it.

Handcrafting is a retirement hobby that can make money for you anywhere in the world. The reason is that many people like and appreciate work done by the hands of others and not machinery.

These are just but a few handicrafts to make money when retired:

• Sew things like zipper pouches, fabric baskets, and phone-charging stations
• Make crotchet items such as scarves, socks, and hats
• Sell printables i.e. things people can print and hang in their homes

You can sell your items online to reach more people. Some online-selling websites to try are Etsy and Shopify stores. Be sure to choose the best e-commerce platform for your crafts store.

#8. Personal Finance

Like money matters? Personal finance can as well be one of the best choices if you need retirement hobbies that make money for you. In other words, you make money from your knowledge and interest in money!

Personal finance is something not many people have mastered. But you don’t need to be an expert to take care of your hard-earned money the proper way. Even teaching basic financial literacy like budgeting, building wealth, financial planning, and how credit cards work could be profitable. 

If you like personal finance, you can make money in the following ways:

• Guide people on how to budget, save or spend money wisely
• Create a personal finance blog and monetize it
• Make videos about finances on YouTube and get paid from ads and brand deals

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Retirement Hobbies for Couples

If you have a partner, you can both make money after retirement using the ideas that follow.

#9. Yoga or Tai Chi

You and your other half could be senior citizens that want to cultivate inner peace and relaxation. In that case, one of the top inexpensive hobbies for retirees that you can try is yoga or Tai Chi.

There are various types of yoga for older people and many . Many of the are slower-paced. Some examples are hatha yoga, restorative yoga, and yoga with chair exercises. If you can master the moves, you’ll have the option to generate income from your yoga hobby.

With lots of benefits of practicing Tai Chi and benefits of Yoga for practicioners of all ages, too!

Here are some ways to make money from a yoga hobby for retirees:

• Offer private yoga for beginners classes one-on-one
• Teach yoga for corporate events in your area
• Get paid for teaching yoga online

#10. Gardening

Do you have a green thumb? Another retirement hobby that makes money for couples is gardening. If you live in a fertile area and own a small piece of land, this may be a good money-making hobby for you to earn money when retired.

Keep in mind that gardening is not like farming. You just need to grow some plants or produce on a small scale. So, you won’t work for extended periods or have to hire someone to help you with the job.

You can earn money from a gardening hobby in the ways below:

• Start a plant nursery and sell the plants to flower shops and vendors
• Sell profitable herbs like basil, chives, and rosemary
• Sell fresh produce like fruit and vegetables

#11. Cooking

It can be that you’re a home that loves to cook. Cooking is among the best choices when it comes to retirement hobbies that make money.

The thing that makes it a great money-making hobby for retired couples is that you don’t even have to leave your house. You’ll just be using your home kitchen to prepare various dishes, even the ones you’ve never tried before.

You can turn a cooking hobby into a profitable business using this list of ideas:

• Create and sell recipe books
• Start a YouTube channel about your ways of cooking
• Teach other people how to cook

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How to Make Money at 60 Years Old

There are lots of ways to make money at 60. Besides retirement hobbies that make money, you can earn income using the following ideas.

#12. Rent Out Your Space

Do you have an extra room in your house? If yes, you can turn it into a source of income. You can list your space on Airbnb or VRBO and get paid when people book it. On these sites, you get to choose the best rates for you as well the periods that the room is available for rent.

Plus, you can offer additional services like cleaning and tours to give your guests a better experience while earning more money on the side.

Another thing to rent out is storage space. It can be a basement, shed, or any other space where people can store their belongings or a vehicle.

You just need to list your space online on a storage marketplace like Neighbor.com. Choose to either avail the entire storage space or just a portion of it. You get paid every month and people store their things in your space.

#13. Rent Out Your Car or RV

As a senior citizen in retirement, you won’t be driving to work. A good number of your drives will be to attend events or just for casual activities. When your car is not in use, you can rent it out to others and generate income as a 60-year-old.

Getting started with renting out your vehicle is not hard. You don’t even need to sign a lot of paperwork o something like that. You just need to find a car-sharing platform online and list your vehicle there. Many of them are secure and offer insurance and vehicle protection.

One example is Turo. You just create an account, set rates, and wait for car renters’ requests. You can even list multiple cars.

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#14. Pet Sit

Do you love animals? Why not start a pet sitting business and get paid to take care of other people’s pets when they’re away?

Cats and dogs are popular pets you can care for. However, there are many other animals like birds, rabbits, and fish that people keep for companionship. And you can be a pet sitter for any of them.

You can offer house sitting as an additional service. In this case, people don’t have to bring you their pets. You just go to their home and care for them there.

You can list your services locally on Care.com and start getting clients.

#15. Babysit

Prefer to take care of kids and babies? You can be a babysitter and get paid without a job.

Many parents aren’t always around to look after their children. You can offer them your babysitting services for cash.

The responsibilities can include things like making dinner, picking them up from school, or helping with homework. Be sure to inquire with a parent or guardian about what your duties will be. This approach ensures that you won’t have to put in more effort than what’s fine with you.

However, offering extra services would mean more money for you. So, don’t be too comfortable if you desire more income! You can also use Care.com or reach out to your network with word-of-mouth advertising.

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#16. Teach or Tutor

Most retirees are well (if not extremely) experienced at a couple of things. You can offer lessons based on the subjects you know or skills you have and earn money as a retiree.

When you’re retired you can tutor easier subjects like English and basic Math or more advanced stuff like engineering and organic chemistry. You can as well teach things that are more practical such as woodworking and painting.

You can find students by marketing yourself in your local area. Some places to find teaching and tutoring jobs online are social media and service platforms that hire new people. You can also build a presence online and get more people to buy your services.

Top Questions on Retirement Hobbies That Make Money

Q1. What is a Profitable Hobby?

A profitable hobby is one that can generate some income for you. There are many profitable hobbies that suit retirees. You can make good money from hobbies like photography, event planning, and handcrafting.

Q2. What Can I Do at 60 to Make Money?

There are several money-making opportunities for 60-year-old’s. You can do easy jobs like pet sitting, babysitting, and tutoring or earn passive income by renting things out.

Q3. How Can I Make a Lot of Money for Retirement?

If you haven’t yet retired but would love to retire early, numerous strategies can earn you significant money for retirement. The best idea is to work with financial advisors, save, and invest money in areas like real estate.

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Final Thoughts on Money-Making Hobbies for Retirees

Now, you’ve discovered several retirement hobbies that make money as well as other ideas to make money when retired. It’s possible to make money at 60 or older and live a nice lifestyle.

You just need a passion for what you do and a plan on how to monetize your interests and knowledge. Work smart and you’ll make money from your hobby not just once or twice but regularly.

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Start that hobby today and meet all your money retirement needs!

There are so many real ways to make money at home, no matter your age. Retirement can be the start of new opportunities if you let it.

How can I make a lot of money for retirement? Looking for inexpensive hobbies for retirees? Here are the best retirement hobbies that make money by @themoneygalileo. Perfect for couples, too! #Hobby #Hobbies #Retirement #Retired Click to Tweet

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Last Updated on August 25, 2024