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Joel Lapierre
May 12, 2021

5 Ways to Make Money While You Enjoy Retirement

After a tough day at work, do you sometimes daydream about retiring?

You’re not alone. Imagine … Being free from having the boss breathing down your neck. Not dealing with gridlocked commutes. Not having to live your life on someone else’s schedule. Sounds great, right?

So, it may surprise you that 40% of Canadian workers who are within five years of retirement say they’ll probably “un-retire” at some point in the future.

Their reasons for doing so vary. Some un-retire because their spouse is still working. Some get restless and are looking for something to do. Some become entrepreneurs and work for themselves.

And many seniors flat-out can’t afford to retire. They don’t have enough saved … or they’re worried about outliving their funds … or both.

There are other financial benefits for working past 65 beyond cashing a paycheck. The longer you can put off claiming CPP & OAS benefits, the more money you’ll get later.

Thinking about possible encore careers? Here are some ideas.

1. Hotel Employee

If you like interacting with people, working at the front desk or the lobby café could be fun. Or, you could become a concierge. You can chat with guests about the area and help them with reservations and event tickets. Hotel employees enjoy big discounts on room rates. Most chains in Canada also have properties all over the world. If you work for a hotel, you may be able to stay at a sister property for a fraction of the cost.

2. Etsy Entrepreneur

Crafty? You can sell the end products of your hobby (like knitting, woodworking, or calligraphy) on Etsy. There are plenty of online resources for setting up your shop and selling your handiwork. It’s a great way to do what you love — and get paid for it!

3. On-Demand Driver

If you like to drive, working for a rideshare company can be a great way to supplement your income. In fact, about one-quarter of Uber’s drivers are over 50! One reason people like driving for rideshare companies is flexibility. You get to decide when you want to work and how long your shifts last. GPS makes it easy to navigate, and apps are great at helping you manage rider pickups.

4. Skill Sharer

If you like to help others, why not use your skills and get paid for it? Mobile apps like TaskRabbit allow users to hire people for a variety of odd jobs. Think hanging pictures, painting, or assembling furniture. To start, you will need to complete a background check and a TaskRabbit course. Once those are done, you get to search for (and bid) on any posted jobs that match your skills.

5. Ticket Taker

Do you like watching shows, sporting events or concerts? Then consider working for a local theater or entertainment venue. Some possible positions are ushers, box office attendants, bartenders, and general event help. You may be able to see some of the shows for free. Plus, you might get discounted access to other events at the venue.

Do you have other ideas for possible post-retirement gigs? We’d love to hear them! Drop the team at MDL Financial Group a line and tell us!

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