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Business9 Ways to Generate Income as a Retiree in Ottawa

9 Ways to Generate Income as a Retiree in Ottawa

9 Ways to Generate Income as a Retiree in Ottawa

Retiring after years of active service is a phase of life many people dread. In this year and age where economic recession and increase in tax has become the order of the day, it will be difficult to make ends meet - except you have invested properly during your early years. For those who haven't or people who just want to make some retirement income, there are actually ways to go about it.

You may wonder if anyone will be willing to hire the services of an aging person in Ottawa or someone who isn't as physically strong as a 25 year old. Well, you should know that there are a number of opportunities available for retirees. Here are 9 ways retirees in Ottawa can actually generate income.

1. Get a Temporary or Part time Job

Getting a temporary job or working part-time is usually first on the mind of anyone who retires at an old age. You can go stacking up shelves in a retail store, supervise a wine shop on weekends, or even go with your passion and earn a little something from it.

The jobs might not be glamorous but it will definitely add some cash to your pocket. There are temporary jobs that just need someone with experience and free time to manage. The jobs could even become permanent when the employer realises that your skill and knowledge is an asset to their business, and customers are satisfied with your show of expertise.

2. Start your Own Business

Perhaps, you couldn't wait to turn 50 or 60 and retire from a paid job to start your own business. Well, now is the right time to begin. If you have saved up some money, you can become your own boss by going into something you are passionate about.

Do you love cooking? You can start a food delivery or small restaurant. Are you a gadget freak? You can open your own store for sale and repairs of different electronic devices. If you enjoy music, movies and fashion, you can even start up a lifestyle blog and monetize it by putting up ads and making third party sales.

3. Become a Consultant

You have gained a wealth of knowledge working for years in the civil service or any other sector of the economy. You can exchange your experience and knowledge for some cool cash. Most people might see it as just a piece of advice from an elderly man or woman, but one intriguing Forbes report shows that consultants are some of the most well paid people in the world.

Asides working in a company, you can also be contracted to teach people a particular skill. If you're good with languages, winery, marketing, accounting, business management, driving and so on, there are people who would love to learn from someone with experience.

4. Baby Sit or Pet Sit

There are a lot of people within your neighbourhood who would need someone with time on their hands to look after their kid(s) or pet(s) whenever they are away. Even if they don't ask, you can suggest it to them.

5. Buy and Sell Antiques

You might wonder, why antiques? Well, customers are more likely to buy age old items from an older person. Therefore, you can buy some of these valuable objects, sell them and make a huge profit. You can even buy and sell online. You can get them from storage locker sales, yard sales, thrift stores and many other flea markets.

6. Rent out a Space

Many retirees have a big house to live in for the rest of their lives. Instead of just rattling around the property with your partner, you can rent out the rooms. There's no need letting the space waste just like that. There are ways to make an income from the rental.

You can either advertise online for tourists who are visiting Ottawa for a long period, rent to students who will even keep the place lively, rent out to holiday seekers or workers who need a place to stay before moving to an apartment of their own - and many other options. Why pay maintenance, heating, water and electricity bills from your savings, when you can make an income to pay them all off?

7. Gardening

Ottawa is a beautiful city with lovely landscape and gardens. Why not consider gardening for a profit - especially if you have a green thumb? Now you are not just doing something you love but also earning an income from it. You can either take care of people's gardens within the neighborhood or even grow your own plants and flowers to sell at flower shops. Besides, Valentine's Day and Mother's Day are always there for you to make huge profit.

Asides flowers, you can also grow some vegetables, fruits and even seeds, then sell at the market close to you.

8. Write

Just like being a tutor or a consultant, you can write articles for a blog, write a novel or even your own version of a particular historical event and sell to publishers. If you have knowledge of a dying art or a story people consider a myth, you can pen it down and also sell online.

9. Become a Local Tour Guide

Still talking about knowledge and experience, tourists visiting Ottawa would need someone who has an idea of the local history. You can become an independent local tour guide or even attach your services to any tour company around. There are actually no special trainings or license needed to become one. Just check up the cost of placing ads online and other local rules or regulations. For a fee, you can show visitors around and answer their questions.

Finally, keep in mind that being a retiree doesn't mean the end of earning incomes. With a lot of people retiring without adequate savings, it's only wise you make plans so as not to end up sad at your old age. Instead of being lonely and spending all you have saved up for donkey years, you can follow these tips and generate cash - and even create new relationships while at it.

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