We all know that a retirement savings plan is a necessity. But what do you do with all that extra time on your hands? Sure, you could spend it traveling the world or golfing every day, but wouldn't it be great to earn some cash along the way?

Well, if you're looking for creative ways to make money in retirement, look no further than this list!

1. Freelance

Freelance work is a great way to do something you love while making money at the same time. If you have some experience and know-how in an industry, there's no reason why you can't find some freelance work online or locally that will help support your retirement.

1. The first step is researching what types of jobs are available in your area and how much they pay. This way, when someone hires you for an assignment, it won't be a shock when they tell you how much they'd like to compensate you for your services.
2. Next, make sure that the job isn't too far beyond your scope of knowledge or expertise—it's easy to get into debt by taking on projects that are too difficult for someone who doesn't know what they're doing yet! Also remember that just because someone offers one hundred dollars per hour doesn't mean it's fair payment for what they're asking; again: research before committing yourself!

2. Start a business

If you are interested in starting a business, it's important to understand that there are many different types of businesses and each has its own requirements. You may be able to start a business by yourself, but some companies require more than one person.

Some things to think about before you start your own company include:

• Are you skilled in the area of your business? If not, how will you learn these skills?
• Do all of your research before beginning. The more information that is available about any given idea or venture, the better off everyone will be for it.
• Think about what kinds of goals and plans are realistic for this type of venture and how they would help achieve them (e.g., "By next year's conference I want my company's annual revenue growth rate at least triple what it was last year").

Learn more about starting a business with your skills in this article: Launch a Business with Your Skills.

3. Rent out a room

Renting out a room is one of the easiest ways to make money in retirement. It's not just for seniors, either—many young people are making extra cash by renting out their spare bedrooms on sites like Airbnb or VRBO.

Some tips for setting up your own homestay:

• Advertise your space on websites like Craigslist and Google Classifieds, as well as local publications and real estate agents. Be sure to include all relevant details (the number of rooms available and whether it has its own bathroom).
• Make sure you get references from previous tenants before renting to anyone who applies! If possible, meet them in person first so that you can assess his or her character face-to-face rather than via email correspondence only.
• Set up strict rules regarding noise levels during evening hours and weekends—and stick to them! If someone breaks these agreements more than once or twice within the initial month after moving in together with this new tenant then this could be grounds for eviction if desired later down the road when necessary (such as if they're abusing alcohol excessively).

If you are interested in renting out your things, learn more here: Renting Out Your Things: Is It Worth It?

4. Write a book

Writing a book is a great way to make money in retirement. You can write about your life experiences, or write about something you are passionate about. Once you have written the book, you can sell it online and make money on your books sales.

If you want to find a publisher who will publish and market your book for you, there is an organization called “Author Solutions” that helps authors publish their books with this option. However, if all of this seems like too much work or expense for yourself then we suggest that instead of using Author Solutions and paying them up front for publishing services, just self-publish (do it yourself) with Amazon Kindle Direct Publishing (KDP).

5. Teach others

One of the best ways to make money teaching is to do it online. There are a number of sites that will pay you for your expertise if you know how to teach well and can make yourself understandable. You don't need any special qualifications or experience, just some knowledge and enthusiasm for your topic.

Once you've got your first few students and are making some money from it, see if you can expand into other areas. There are plenty of opportunities out there for teachers!

6. Sell your photos or videos online

You're already good at taking photos and videos, so why not make money from them? You can sell your photos and videos directly to people on a website like Etsy, or even use social media platforms like Youtube or Facebook to promote yourself. Or you can sell your images to stock websites! If you've got the equipment and know-how, consider making some online courses. You'll get paid for the time you spend putting together these courses, plus people will pay for access to it!

There are many ways to earn extra cash in retirement!

The best part is that these ideas are completely doable and easy to implement.

To learn more about ways to make extra money and do it from home! Watch our class: How to Make Extra Income Without Leaving Your Home.