“I Always Thought I’d Have Enough Money to Retire. Oh Well, Back to Work”
Are you getting tired of reading article headlines like these?
“How $1,000,000 May Not Be Enough For Retirement”
While struggling to budget yourself so that you can go grocery shopping?
For many, retirement is entirely out of reach. Social Security won’t even pay the rent. Everyday living is a struggle. You continue to work but prices are going up faster than your income.
But, there are some ways to supplement your income without putting in more hours or getting yet another part-time job. Here are a few you might consider.
Selling what you don’t need or use any longer. Usually, there are always a few items in the closet that haven’t been worn for quite a while. Take them over to a local consignment shop. Yes, they get some of the sale price but that removes the effort of trying to market those things yourself, bargaining over the price and meeting someone to deliver them.If you have the time and inclination to sell them yourself, Facebook Marketplace or OfferUp are good places to start. You can keep everything local so you don’t have to be involved in packing up and shipping.
If you like the exploration and adventure, buying items at garage sales and estate sales and reselling them can work as well. The best bargains, if they are still available, are usually to be had in the last two hours before they end. Don’t let the price tag influence you. You can always negotiate. Offer less than half and see what the response might be.
Check on places that are closing or going out of business. There is a market for many items that aren’t specialized. Smaller items like microwaves, shredders and file cabinets can be quickly resold.
Share your home. You are probably not alone in a tough financial situation. If you find a compatible roommate to share expenses, it can surely help you to breathe easier. The opposite side of this is to look for someone who would share their home with you. These arrangements have been popular enough to even spark TV shows. Remember Friends, Golden Girls, the Odd Couple, Three’s Company?
Along the same line, if you have an unused garage space, you may be able to rent it out. The same, if you have property where someone could store their boat or camper off-season, for example.
Turn your hobby into an income. Sell your creation. It could be photography, paintings, plants, woodworking, crochet, etc. These could be sold online or displayed at different events and festivals that go on throughout the year, such as farmer’s markets.
None of these would be considered a ‘job’ but all of these can generate additional income that just might be enough to enable you to retire.