 "Elderly people, senior citizens")
Senior citizens show interest in making money even after their retirement. Post-retirement, old people have plenty of time, and they don't want to kill time by lying in bed or thinking about those old days. Many such people want to utilise their time to stay active and lively in that last phase of their life. However, many senior citizens struggle with financial instability after retirement and want to do something even after they retire.
In today's world, there are plenty of ideas for senior citizens to earn hefty sums of money post-retirement by staying at home. All they need is to simply turn their existing skills into hobbies and prior work experience into a lucrative business. Below are the 5 effective ways of earning money online for senior citizens.
Effective ways of earning money online for senior citizens
Here are the 5 effective ways to earn money for senior citizens:
Become an Insurance POSP
One of the most lucrative ways to earn a good sum of money is through the Point of the Sales Person (POSP). A POSP is an insurance agent who sells policies for an insurance company. A POSP agent needs a smartphone, a good internet connection, and an aptitude for selling. You can connect with the insurance provider and become a POSP agent.
What does it need to become a POSP agent?
You must be over 18 years of age, must complete 10th standard, and have to complete IRDAI's 15-hour compulsory training to get a licence.
How much can one earn as a POSP agent?
A POSP agent can earn commission on every policy you sell, the more you sell the more you earn.
More From This Section
Start teaching services
Another best way to earn money post-retirement is by starting a tutoring service. If you have specialised knowledge in any domain or field, you can leverage your skills or knowledge to teach others. If you are good at any subject, you can teach that subject to students, such as history, music, science, maths, or English.
Nowadays, it is not a difficult process to become a tutor, all you have to do is sign up with any teaching platform like Udemy, Coursera or any other professional platform and share your knowledge and skills.
What are the requirements to become a tutor?
There is no basic requirement, all you need to have is expertise in any particular subject and teaching skills.
How much can one earn through teaching?
This very much depends on your subject and expertise in the subject matter. If you have sufficient skill or knowledge in a particular subject, you can earn up to Rs 200 to 500 per hour.
Start your Food Delivery Service
If cooking is what you enjoy even after retirement then you can earn money from home by partnering with a food delivery agency. If you are good at cooking something you can sell packaged meals, individual dishes, or even catered meals for parties.
You can become a partner to food delivery platforms like Swiggy and Zomato and start selling your products to your friends, family and other relatives, you can also market your service through different social media handles.
What are the requirements to start food delivery services?
One needs to cook delicious food with cooking ingredients to start selling your reliable delivery services.
How much can one earn starting food delivery services?
The income of your food delivery services largely depends on the type of food you sell and the number of loyal customers you have.
Sell Your Homemade Items
Selling your homemade items can also be a great way to earn some extra money through your skills like stitching, and arts, and crafts, which you can sell online. These homemade items include paintings, quilts, scented candles, wall hangings and other decor items.
You can use various sites to sell your homemade items, like Etsy, Facebook Marketplace, Amazon, eBay or any other platform. You can also use social media platforms to advertise your items and attract more customers.
What are the requirements to sell your homemade items?
All you need is good quality raw materials to sell your products, like paints, needles, thread, or any other crafted supplies.
How much can one earn through selling homemade items?
The earnings of a person largely depend on what products you are selling and how much you sell, and if your products add significant value to your customers, you can charge higher prices.
Be a Consultant for Professionals and Companies
If you have good experience in your domain, background or any other sector, you can leverage your knowledge and experience and share it with professionals and companies as a consultant. Retired professionals, who are experienced in healthcare, business, IT or other sectors can search for clients on different platforms like LinkedIn, Upwork, etc.
What are the requirements of professionals and companies?
All you need is market skills and experience to work as a consultant.
How much can one earn as a consultant?
The earnings as a consultant largely depend on your experience and area of work, there are plenty of high-paying consultancy jobs available in the market.
