Top 5 ways to earn extra cash in retirement

Jan 30, 2020
Renting out your home or offering to walk your neighbour's dogs are simple ways to earn a little income during retirement. Source: Getty  

You don’t need to be in the workforce or clocking up the overtime to earn some extra cash, there are now plenty of options for retirees that don’t involve working. These days, there are are plenty of ways to earn a little extra cash on the side. From renting out your spare room to collecting empty bottles for recycling, it all adds up and could go a long way to funding your holiday fund or paying the bills.

To help you add a bit of extra cash to your back pocket, we’ve narrowed down the best ways to earn in retirement.

Recycle for cash

Set aside your plastic drink containers, cans and glass bottles from your mixed recycling, or organise to pick up your friends and neighbours each week to earn some quick cash. As part of the Container Deposit Scheme in New South Wales, Queensland and the Northern Territory, you can get 10 cents for every eligible bottle. Not only are you getting money for every bottle you place into the machine, but you’ll also have peace of mind as you know your bottles are being recycled efficiently into new ones. There are various return points dotted throughout the country. 

Rent out your home or spare room

If you have a spare bedroom and want some company, or your house is going to be empty while you travel, why not rent out your rooms to travellers through websites like Airbnb or Stayz? You can set your own prices and rules and have full approval over who you allow to stay in your humble abode while you’re away.

Lease your car while you’re not using it

Owning and operating a car is expensive even if you’re not using it every day. If you rarely utilise your car, why not lease it to someone else? All around Australia, people are renting out their cars to approved borrowers with Car Next Door and Drive My Car. You have complete control over when, and for how long, a borrower can use your vehicle for and it’s all covered by insurance.

Become a mystery shopper

Getting paid to shop seems too good to be true but it’s a reality for many mystery shoppers who are hired by companies as undercover customers to help review customer service at various retailers. Mystery shopping is a great side project with some companies paying up to $100 per shop and even reimbursing you for items in the event that something needs to be purchased. Mystery shopping trips generally only take for around an hour, so you can continue your day without interruption.

Try pet sitting

If you love animals, why not make some cash out of it in the process? You could offer to walk your neighbour’s dogs or pet sit while they are away on holidays or during work hours. Try looking into sites that specialise in matching pet owners with people who can look after their animals. You can choose to accept offers based on your own terms, whether it be deciding to sit-pets for just an hour or looking after them for a whole weekend. Caring for other peoples animals is a great way to get cash with the added bonus of some company with furry friends.

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