How to Make Extra Money in Retirement

Published on Jan 28, 2014 06:15 am

Whether you need to supplement your retirement savings, have skills you want to share, or just want to stay busy and engaged, there are many ways that you can stay productive after you’ve left the workforce. Perhaps one of your retirement goals is to help underprivileged youth or assist in local civic roles. If you choose to work though, it’s wise to pay attention to how earning income in retirement can affect your Social Security benefits.

Working Part-Time in Retirement

Many retirees choose to work at a part-time job. Part-time work offers income and flexibility without the time commitment of a full-time position. The supplemental income is just one way you can avoid a shortfall of cash flow. If you can’t find part-time work that meets your needs or that you find interesting, consider working through a temporary agency. These organizations place people in a range of different companies and positions.


Consulting lets you leverage the experience you’ve gained through your decades of work and help companies that need project-based advice. Using your personal network may help reveal consulting opportunities. At the same time, signing up to provide help to small businesses through not-for-profit organizations can also enable you to both build your consulting resume and potentially convert unpaid engagements into paid opportunities – helping to build a cushion for your retirement savings.

Small Business

Starting a business doesn’t have to involve working 24 hours a day, seven days a week at a breakneck pace. You can also make a business out of something you love or something you do every day. If you’re a computer guru, for instance, you could set up a service to help other people who are having computer problems. Knitters can sell their wares on websites or at craft fairs. With a small business, you control how much you put in and how much you take out.

Social Security Considerations

Depending on your age, what you earn during retirement can impact how much Social Security you collect. Once you start pulling from your Social Security, you can still continue to work but it could impact your situation. If you’re curious to know how much you can expect to receive from your Social Security benefits, log onto to and use the retirement estimator.


About the Author
Solomon Poretsky has been a writer since 1996, with experience in the fields of financial services, real estate and technology. Poretsky holds a Bachelor of Arts in political science from Columbia University.


This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

Published by permission from, Inc.  © 2014, Inc.  All rights reserved.

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