May 27, 2020 Four Retirement Hobbies that Make Money
I know I’m only 40 years old, but in the meantime I still think about “retiring” at some point in my life. Years ago, retirement meant you quit your job of 35 years, collected your pension, and wasted away sitting on the couch watching TV for the remaining years of your life. Who wants to do that? Now Retirees are finding retirement hobbies that make money.
Retirement can mean different things for different people. Nowadays people are re-characterizing what it means to retire. And it doesn’t mean sitting around and wasting their lives.
Most retirees in this day and age think about retirement as “the absence of negatives.” What does that mean? Retirement is the time when your current job position is not a necessity, but a choice. You certainly can continue working because you love it, and that’s exactly what I plan to do.
Honesty, I look forward to that. I have been blessed during my life that I have the continued ability to flip items while taking care of my family. I really find fulfillment in it and it has provided an amazing income for my family of five.
With that said, when I’m flipping, I don’t feel like I’m working. So for me, I plan to “retire” and keep flipping items for my enjoyment. It really feels good to say that. Not everybody loves their job as much as I do.
In fact, there are some people retiring from jobs that they’ve worked at for decades that they didn’t really enjoy. Now in this second phase of their life, they are really wanting to do something that brings fulfillment, that can bring in extra income, and give them flexibility. I can’t think of any other options that would bring joy to my retirement than these four retirement hobbies that make money.
Why should I flip items?
Flipping items will always be around, there is always a market for it. No one is ever too old or inexperienced to learn how to flip items – especially when retirees are looking at making some great money to supplement their retirement.
For the past five years, I have had the privilege of coaching hundreds of people. Some are SAHMs, students, fathers, and the like. What I have noticed lately is people are nearing retirement and they are looking for retirement hobbies that make money.
I find so much satisfaction helping retirees learn how to flip items and watching them enjoy their later years long after they left their 9 to 5 jobs for retirement.
Finding Treasure at Auctions
If you want to flip items, there are so many ways to source items. It’s amazing what I can find on any given day. But a few of my retirees have enjoyed learning how to go to auctions, bid on undervalued items, working on the items together, and selling them for a nice profit!
Our friend Cat, when she is making a decision to make a bid at an auction, she tells her husband “it spoke to me!” Her husband, Bill, has learned to listen to her intuition! The last time she bought something for $8.50 that “spoke to her,” she sold it for $599!
Bill and Cat both love auctions because it’s a fun retirement hobby that makes money. They can get out of the house, go for a drive, and it creates some great income for them to have a lot more fun in their retirement years!
Why an auction?
Auctions are full of energy and excitement. You have to be ready and alert, keeping your mind sharp and busy. You can be around people, learn the art of bidding, and get some amazing items to flip.
There is definitely a learning curve to being successful at an auction, but hey you are retired right? You’ve got all the time in the world to get out of the house, spend time together, and learn the ins and outs of auctions.
Finding treasure at auctions can be a great, enjoyable way for a couple during retirement to develop hobbies that make money. That way they can have a lot more fun during retirement.
Have you seen the amazing repurposed furniture out there? There are some really beautiful pieces. Hard to believe it came from furniture that was headed for the landfill.
And the great thing about repurposing furniture is most of the furniture can be gotten free or for very little. Retirees are finding great joy in taking long forgotten furniture, giving it a facelift, and selling it for a nice chunk of change.
A benefit of retirement hobbies that make money like repurposing furniture is that couples are finding they are enjoying their time together. The wife may have the job of sanding the furniture while her husband gets to fix some areas on the furniture that need a little care.
Create something new… Together
Together they can stain and paint and bring it to life again. Finally, they can jump in the car and take a trip to Home Depot (it’s still open even during the pandemic!) to find the right hardware that gives it that special look you are trying to achieve.
Using your time to create something beautiful while enjoying each other’s company is awesome. And in the end, you can list it on facebook marketplace or eBay and sell it for a nice bit of change. It’s truly an amazing way of making money in retirement!
If you really want to open a world of opportunities, you can learn the skill of freight shipping. Imagine creating something together out of a piece of furniture that was destined for the landfill, making it new, and freight shipping it to its new owner all across the nation.
The possibilities are endless and there is no shortage of furniture to repurpose. So if you are looking for things to do when retired and bored, pick up some furniture that has no life and bring some life back into it. You’ll be making money in retirement in no time!
Fixing Broken Items and Reselling Them
Melissa’s grandpa was the master of tinkering in his retirement. He was always working out in the garage tinkering on something broken to make it work again. Always had some great ideas for creating some new electronic device to make things easier on himself.
Her grandpa even made me a homemade styrofoam cutter! I had that thing for years and it worked great. They were the same styrofoam cutters that are now priced at about $100. He enjoyed keeping his mind active, keeping busy, and using his time to tinker and fix things.
If you are interested in making money in your retirement, believe me, fixing broken items to resell can be a nice way to make some great money. When you do a quick scroll through any of the local selling apps, you can see how many undervalued items there are being sold or given away for free that are not working. Do you consider yourself handy and enjoy tinkering and fixing things? This could be a gold mine for you!
Just a Little Fixing
Oftentimes, it can be just a simple thing to fix for a small cost. Couples can work together by finding some broken, undervalued items. After putting in a few dollars to fix them up, the next step is to learn together how to list the working item for sale. There are many possibilities.
Retirees are no longer sitting around and wondering what to do with themselves. They are busy finding items, fixing them, and seniors are making money online. The older generation is no longer saying they can’t figure out how to use a computer. These seniors are learning how to use their computers and understanding the use of online apps including eBay for selling, and maximizing their finances in retirement.
Tinkering around with broken items and fixing them can be a great hobby to make extra money in your retirement. Do you enjoy using your hands or making a broken item work again? You are capable of taking items you can find and make some great money selling them in full working condition! Why allow something to be thrown into a landfill? Fix it up and find a new home for it!
Picking up Free Items
In fact, one of my contacts makes all of his side money by hooking up his trailer and driving around affluent areas on large trash days. He goes out each week and literally picks up the best “garbage.” He sends me photographs and I buy the valuable items he finds in the trash and resell them for a nice profit.
If you have a small truck and trailer, you could literally go out one day a week on the large trash day and pick up hundreds if not thousands of dollars worth of items to resell. You could sell locally or on eBay.
Awesome Finds or Foolish Flops?
Just because items are free and in the garbage certainly does not mean that they are not valuable. You wouldn’t believe the stuff my friend finds me to buy. In the past I was ale to get commercial printers, saxophones, old gaming systems, computer parts and the like.
Picking up free items and selling them could be a retirement job in itself. Subsequently, it’s also something you could do together with your spouse. It is flexible, lucrative, and let’s face it, it’s really fun. Making money with fun retirement hobbies is a great way to use your creativity and your past job smarts to your advantage.
Need a place to start? Research what days you have large trash pickup in your area. Make a point to go out for a nice walk as a couple and see what you can find. You will be amazed at what people actually throw out. You are not only creating some great income in retirement, it’s helping the environment.
Traveling to Flea Markets
Alright, I’m going to admit it. Traveling in an RV to every flea market in the country is my dream job in retirement. Melissa says I get an extra skip in my step when Saturday morning arrives and we have a plan to go to the flea market. Imagine traveling by RV to all flea markets along the way?
I’m not the only one. There are a few couples we know in retirement that admit that is their dream as well. Pick up a nice RV that is comfortable to travel in and go find some treasures. It certainly can provide the adventure and fun that is needed in retirement. Flea markets can definitely be that retirement hobby that makes money!
Traveling is one of the greatest benefits of retirement, however, many new retirees due to rising health care and other costs, are not able to find the money to travel the way they would like to. Imagine traveling to all of the states by RV and hitting up a flea market in each town for your next flip? Each of these flea markets could provide you with your next flip that can put gas in your tank and food on your table.
Flea markets are an amazing place to source great items to flip and any time I travel, I am looking for the next flea market to hit up. What a great and fun way to enjoy retirement with your spouse and fund your travel adventures.
What do you plan to do in your retirement? I hope you find enjoyment in whatever you do. If you are interested in these four retirement hobbies that make money, you may be curious to learn even more. Check out our free intro webinar to learn the ins and outs of flipping.
Do you have one of these retirement hobbies that makes you money?
Comment below and let us know!