Retirement Hobbies that Make Money, Provide Mental Stimulation and even Extra Income

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Retirement Hobbies that Make Money or profitable hobbies (which can be the same for many of us) not only have beneficial health benefits – such as preventing Dementia and Alzheimer’s but they can also generate a steady income.   This article has its focus on such “profitable hobbies“.

As a generalization, retirement hobbies involve some social interaction with like-minded colleagues – for example, if your hobby is growing roses, you would normally visit gardens where you would strike up conversations (about your mutual interest in roses).

Profitable hobbies, on the other hand, are mainly micro-businesses, run from home by solo entrepreneurs. They generate extra retirement income.   But more of that later.

Retirement Hobbies for old

Image by WikimediaImages from Pixabay

And any consideration of a retirement hobby must tick each of the four pillars of any successful retirement – your health, finances, family & friends and your zest for living.

If we retire during our sixties, our probability (i.e. when 50% of us are still alive) is 88 for a man and 91 for a woman.   Now that’s an awfully long time to be doing nothing, just sitting there being bored.   Which is why we all need to be doing something.

However, if you’re not interested in profitable hobbies for seniors, but are just looking for a happy retirement, then Stay Active is probably the key for you.

Hobbies for seniors – if they are “profitable hobbies” – can generate extra income in retirement

Retirement could last 20-25 years

If we retire during our sixties, our probability (i.e. when 50% of us are still alive) is 88 for a man and 91 for a woman.   Now that’s an awfully long time to be doing nothing, just sitting there being bored.   Which is why we all need to be doing something.

The problem is more acute for men – who generally have developed no other interest outside of a career.  They have gone to work for decades, and have done what they have had to do.  Only a small percentage of working males have ever developed an interest in something away from their careers.   So when they end paid employment, they are often lost, souls.

Women, of course, have had multiple roles all along, so it falls to them to give the male a new direction.   They know their husband’s interests, so they are best qualified to guide them in this new stage of life, and towards a retirement hobby.

Now I won’t attempt to list what possible hobbies are out there: if you need any suggestions, just do an online search for retirement hobbies.    My message here is solely to underline the need to avoid boredom in our retirement, and having a purpose.

So get out and do something.   Why not consider hobbies for seniors and do something about boosting your retirement income?

It’s all a case about seriously considering the question: “What should we do after retirement?”

Extra Money in Retirement

The secret pathway to ways to make extra money in retirement – and indeed at any age – is to develop a self-employed mindset. If you take the other option – and intend to work for wages – you will never be in control of your own destiny.

As over half of us are now living to an advanced age, it’s becoming obvious that everyone needs a money-making hobby to supplement retirement savings or a 401k entitlement that won’t feed a church mouse.  So the rush is on to profitable retirement hobbies from the thousands of hobbies for seniors out there.

Retirement Hobbies

Image by Gerd Altmann from Pixabay

If you are willing to explore my contention (that some form of self-employment – even providing basic household support services via a micro business – offers you the best range of options), then you will have two choices – either a) take whatever hobby or passion you have, and convert it into a “profitable hobby” or alternatively b) take something from your previous career, and in that niche, become a small business consultant.

Neither strategy requires much capital, if any, however, it will take you above the average retirement income of your peers. And some profitable hobbies for seniors are easy to establish.

Examples of Retirement Hobbies that Make Money

Here are some examples of ordinary hobbies for seniors that you have been converted into a profitable retirement hobby:

A wedding efficient fits neatly into the category of “retirement hobbies” as it’s not a full-time career.

If you love plants, why not try landscaping – just capture the photos for your global presence i.e. your website – from your own garden. Then populate your website with your own original content that your visitors will love.  Add visuals (images and videos) to keep your visitors engaged, and remember audio works well too.  Some prefer reading the text, some prefer videos, and some prefer audio. And then offer something for sale – perhaps a book of your landscape designs.   Invite visitors to subscribe to your newsletter, and use an autoresponder to continue to offer tips (and product offerings, of course).

If you have spent years online looking for solutions (e.g. pain therapy, defunct railroads, Latin names for plants, breeding pheasants or anti-aging articles) use your massive knowledge base to become a solo entrepreneur.  These are just a few examples of profitable hobbies for seniors. Always invite visitors to subscribe to your email newsletter, and once you have their trust, offer them a package of your personal videos on the theme of how to achieve muscle and joint pain relief.

A chap I know is a model aircraft enthusiast.   At some stage – years ago – he fitted a camera to his plane, just to see what was possible.  Then he photographed his daughter’s wedding from the air – and when her friends wanted the same aerial photos for their weddings, he teamed up with a wedding photographer.   Now he takes aerial shots of factories for commercial realtors.   And even today, using a drone, he is still generating part-time income.

Do you live at a State capital?  Where they record births, deaths, and marriages?  And where your fellow citizens apply for business names and for a marriage license? Now many people need assistance in completing the correct form and finding the correct window to apply.  Maybe you could develop a knowledge base that would be valuable.  You would need to stand at the entrance with a sign, and perhaps you could earn say $30 per day.

Of course, you could also look for internet business ideas for extra retirement income – just ensure that you avoid anything to do with multi-level marketing – but don’t worry about looking for permanent, paid retirement jobs – because they don’t exist.

STEP ONE – DEVELOP A SIMPLE BUSINESS PLAN

Hobbies for seniors that are converted to profitable hobbies are really micro-businesses, for the solo entrepreneur.

To succeed, you will need a business plan – nothing formal, nothing too elaborate, nothing too long, nothing too complicated.

My suggestion is that you buy a ring-bound school exercise book at your local supermarket, and use that for your jottings.

Here is a simple structure for you to follow as you think about your micro-business.  In particular, I would suggest that in “business description” that you commit to writing a statement about the benefits that you feel you can achieve from this venture…

  • Business description
  • Products and services
  • Sales and marketing
  • Operations
  • Management team
  • Development
  • Financial summary

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