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How can I make some extra cash after retirement and not work for it?

Once you retire and your income goes away, you become dependent on your pension and the interest on your savings. You convert your tax-free savings plan to a taxable income fund. Say you have $500,000 saved up. (who wouldn’t want that?) The hard fact is that at today’s low interest rate – if you can get 3% you are doing well. That is $15,000 a year. Before taxes. And if you draw it down – you will at some point run out of money. Especially these days when the life expectancy is much higher than before. Can’t live on that, but if you have a good pension plan and add in some government money – you can do OK. If you want a better retirement lifestyle – you have to up the ante!

What if you don’t have much to work with? Little savings, small pension and add it all up and living can become much less that what you are used to or want. OR, what if you do take a part-time job? But then have to stop – the income stops. What if you were to take that energy to create a residual income source?

Passive income ideas are not new. We have all been approached by multilevel companies such as the soap company (you know what I am talking about) and the big hook is residual income. Work like the dickens for a few years, and spend tons of money on training and products – then sell to all your friends who will become ex-friends – and you have income for life. Well, that doesn’t work well for most. Less than 5% of multilevel folks actually make money in the end.

These days, people are creating a hands-off income stream in a much easier way. With very few expenses. Blogs for example, which I have mentioned before are doing well. Once you have it set up you do need to feed it once in a while, but if your blog is doing well in search engines you will have income without much trouble.

Writing is another way. After 50+ years of living we have really amassed an enormous inventory of information. This knowledge can be leveraged to create a residual income. You can write a short e-book and sell it on amazon and just leave it alone. After you promote it a while that is.

I think about this a lot. Because if I can’t work any more, my income will be reduced by a lot. I have, however set up some residual income projects and am working on several more. I am working on documenting all these experiences in detail and provide you with a detailed “After Retirement Residual Income Manual”. If you want to know when it becomes available, sign up for my very infrequent newsletter —->>>>

It all boils down what you are willing to do today to get that income.