3 Unexpected Sources of Extra Retirement Income | personal finances

3 Unexpected Sources of Extra Retirement Income |  personal finances

This isn’t a comprehensive list of ways to make extra money in retirement, but hopefully it got you thinking about some less-traditional retirement funding strategies. See if you can brainstorm any more on your own and then look over your retirement plan to see which ones might work for you. A long-term rental might be a great idea if you own a duplex or a building with separate quarters for another tenant. This will provide you with a predictable monthly payment, but you have to remember to set some of this aside to cover any repairs or updates the rental needs.

The $16,728 Social Security bonus most retirees completely overlook If you’re not willing to part with your home, consider renting it out. This is a smart option for those who travel often. Short-term vacation rentals are popular these days, and this type of arrangement gives you the freedom to choose when your home is available to rent.

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