First Person: The Key to a Working Retirement? Doing Something Fun

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The thought of a working retirement doesn't really bother me. And in this day and age, that's probably a good thing. But I think there is a reason why a working retirement doesn't have me cringing at the mention of it. That reason is because I have a plan for doing things that I actually enjoy in retirement to earn me a little extra income.

Trying things now to find my future niches

Trying out new forms on income before retirement can help me get a feel for what I like, what I'm good at, and what might make me some extra income. Rather than just taking stabs in the dark at things that I might like, I have actual data to support whether these would be worthwhile income earning activities.

While I still have at least 30 years until retirement, I'm already putting my future work portfolio together and trying different things to see how they work out. So far I've done things like try selling online, buying things at garage sales to try to sell at a profit, exploring various freelance online writing sites, creating blogs, having garage sales, and similar activities. By tracking both my expenses and income in each of these areas, I'm able to see where I'm most successful and which activities are actually worth my time.

Developing multiple options to stay interested

Any one job -- even something you love -- can get tedious after doing it too much. This is why I like to develop a variety of income-earning options and opportunities to keep me busy and the income streams flowing in retirement.

Just as with my work now as a freelance writer, even developing different aspects of the same income stream can help change things up. For example, having various writing sites for which I can develop pieces on different subjects -- finance, education, parenting, etc. -- can help keep things interesting while at the same time making me money. Throw in things like my blogs, and I can continue to build different income streams within the same niche, writing. It's like keeping a harem of work options that I can choose from regularly depending upon my mood.

Avoiding singular dependence

But just as with most jobs or income streams, developing a singular dependence upon it in retirement can add risk and set me up for failure if that income suddenly disappears. As with investing, I believe in diversification of income as well.

In a working retirement, I hope that taking this attitude not only brings me income-stream security but also makes life more interesting. Making a supplemental retirement income of $200 from garage sale picks, $100 from blogging, $400 from article writing, and $50 from online resale sounds more interesting to me than just picking up a part-time job making $9 an hour somewhere. And should I lose my online resale income or my article income be cut in half, I still have income left, where as if I lost a part-time job, the income could be gone altogether.

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Disclaimer:

The author is not a licensed financial professional. The information provided in this article is for informational purposes only and does not constitute advice of any kind. Any action taken by the reader due to the information provided in this article is solely at the reader's discretion

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