There are a number of reasons that retirees might be interested in generating some income to supplement their savings. First, most people are living longer and longer, meaning that retirees might not have saved up enough to last them for their entire lives. Second, most people invest their savings, meaning that part of them might have been wiped out in one of the economic crises that come along on a semi-regular basis.
Third, some retirees might have sufficient savings but want to earn a little extra so that it can be used to pay for some luxuries that are beyond their current budget. Regardless of the exact reasons behind their need to generate income, retirees should know that it is possible. In part, this is because they have expertise and experience that can prove useful to others. However, it should also be noted that they have more than enough free time on their hands, which can be put to productive purpose with surprising ease
Here are the 20 ways that retirees can use to generate income in their free time: