Advisors say they're dealing with a lot more clients that continue working after entering so-called "retirement," but there may be other ways for retirees to make ends meet than by clocking into a job every morning.
Indeed, according to International Living magazine, there are no less than 50 ways that retirees can make money in their Golden Years.
The magazine, which focuses on retirees who relocate to other countries, said the money-making activities are especially geared toward such expatriats, many of whom move overseas for a cheaper, more exotic life.
These were 10 of some of the more notable endeavors that International Living suggested for retirees who need to make more money:
Teach English
The magazine said that this is a job that can land a steady paycheck in many parts of the world.
About 1 billion people are learning English today, the magazine noted, adding that there are more people on the planet who speak English as a second language than those who speak it as a first language. Also, 80 percent of the world's electronically stored information is in English.
"Teaching English as a foreign language jobs are available in virtually all countries where English is not the first language," according to the magazine's report.
Sell Your Photos
If retirees are going to explore their new home with a camera, they can make some money at the same time.
It helps that digital cameras are now affordable, and that the internet is full of stock photography websites willing to pay for all types of photos to fill up their galleries, the report said.
"The beauty of stock websites for photographers is that once they’ve uploaded a photograph, it can be sold any number of times, to different people, meaning that it can continue to make you money in the background, again and again, without any more effort on your part," the report said.
Provide Home-Cooked Meals
For retirees who have cooking talents, there's a demand for quick, affordable and home-cooked meals among travelers in foreign countries, the report said.
"In fair-weather, low-cost destinations throughout Latin America and the Caribbean, expats and vacationers—especially those in small towns—have a tough time tracking down ingredients to cook their favorite foods from back home. Because of this, they find themselves dining out more than they like. And while restaurants are much more affordable in these locales, it can still get expensive over time," the International Living report said.
Consider Pet Sitting
This job is just as in demand in other countries as it is in the United States. Plus, the overhead is low, the magazine noted.
"Most expats have at least one animal—many have more than one. Every expat wants to visit family from time to time or vacation. A dog hotel, where their pets are properly looked after, gives them the freedom to do so without worrying about their pets," the report said.
Set Up Your own Home-Maintenance Service
Clients who are handy at fixing things in the house, such as painting home interiors and exteriors, working with plumbing and wood, and replacing electrical fixtures, will find that their services are in demand, the report said.
"Some retired expats may not be physically able to do these tasks or may lack appropriate tools. Or they simply may not want too, now that they are retired. More and more single women are moving here and may need an extra pair of hands or a strong back now and then," the report said.
Internet Research
"There’s an entire industry that wants to pay you up to $50 an hour," the report said. "All you have to do is sit at home and check out websites."
The magazine said conducting research has the potential to yield about 1,000 to $2,000 in income a month.
If You Can Type ... You Can Make Money
Transcribing audio files is something that's easy to do and doesn't require any traveling. The magazine noted that transcription jobs are paid by the audio hour, meaning the faster you type, the more money you can make.
"The average transcriber (who types between 75 and 100 words per minute) will complete one audio hour in four hours worked," the report said.
Become a Freelance Proofreader
On average, about an hour of proofreading—usually the time it takes to proof a five-page business document—will pay between $18 and $20, the magazine said.
"Your willingness to take on assignments will determine how much money you make," the report said. "Some proofreaders work full-time, some part-time, and some round the-clock."
Try Housesitting
"There is a housesitting opportunity to fit almost any lifestyle change you may be considering," the report said."The beauty of housesitting is that it is an exchange. You bring the best of yourself, and the experience receives you and pays you back in unimaginable ways."
Become An In-Demand Copywriter
This is another job where clients can get paid by U.S. companies to do a job anywhere in the world, the magazine noted.
"Copywriting is a mega-industry, ripe with opportunity," the report said. "One of the best benefits of the freelance copywriter’s lifestyle is that you can get paid in U.S. dollars ... yet live virtually anywhere in the world. That includes all those countries with a super-low cost-of-living."
The full report can be viewed here.
