Categories: Retirement Planning | Published On: October 15, 2019 |

4 Ways To Make Money Online in Retirement

2 minute read
4 Ways To Make Money Online in Retirement

We learn a lot by speaking to our Boomerang community. You guys teach us so much and we try to take those lessons and try to improve what we offer. One of the lessons we’ve learned is that retirement isn’t always planned. There are so many circumstances that you’ve shared with us where you backed into retirement or you were laid off years before being ready. Either way, retirement came suddenly and you weren’t exactly prepared emotionally or financially.

When that happens, you likely still want at least a little bit of money coming in, and making money online is a good option. In the following examples, you’ll see how simple it can be to earn the extra income you need. Let’s get into it.

1. Teach English online

Teaching English online is much easier than you may think. As long as you’re fluent in speaking English, you’re ready to make some money (some platforms may require you to have a college or university degree, but it doesn’t have to be in education). It used to be different. Before all these online platforms, you’d actually have to travel to these countries to get a job. But now you can sit in your living room with your laptop open and teach students how to speak English over video.

How much money can you make teaching English online?

You might be surprised how much money you can make teaching English online. It’s going to depend on the platform you choose, but let’s just say it varies. Some platforms pay about $10/hr, but many pay up to $25/hr. Depending on how much time you can spare each week, you can earn a steady monthly income.

What websites can you use to teach English online?

Here are 5 popular online English tutoring platforms to check out:

  1. Teach Away
  2. Vipkid
  3. Cambly
  4. DaDa
  5. iTalki

Some of these platforms are more demanding than others. Cambly, for example, is usually filled with people looking to improve their english. You’ll be doing more conversing than actually teaching. A platform like DaDa, on the other hand, will have lesson plans set up for you to teach younger students who don’t speak much or any english at all.

2. Become a Virtual Assistant

A person opens their laptop to find work opportunities

This is a good way to use your skills to make some money online. If you’ve just left the workforce, it’s safe to assume your skills are still sharp. And if you’ve been retired for a little while, that’s no problem too. There are ways to sharpen your skills before pitching yourself as a Virtual Assistant (VA).

OK, so what’s a Virtual Assistant?

Basically, it’s anyone who uses their skills to support a project virtually. The most common tasks for Virtual Assistants are admin and secretarial duties. That said, there are lots of other ways to be a Virtual Assistant.

What does a Virtual Assistant do?

Being a Virtual Assistant is all about providing support. That means you’ll need to identify a skill you’re most confident in and offer it as a service. And don’t worry if you feel like you’ve been out of the job too long. Spaces like LinkedIn and Hubspot offer free courses where you can sharpen your skills or learn new ones that work in the online world. Also, sign up for one of Boomerang’s workshops. We give you the opportunity to learn new skills for as little as $5.

How much money can you make as a Virtual Assistant?

The average wage for a Virtual Assistant is $20.68/hour. Don’t let that limit you, though. Virtual Assistants have been known to charge up to $55/hour for select services. It’s all about how well you can do the task that’s assigned and how confident you are in your abilities.

How do you make money as a Virtual Assistant?

This is where most of the work happens. You’ll have to let people know that you’re offering your services. Speak to your friends. If you’re on social media, improve your social media presence and share a post letting everyone know what you’re up to.

Once you’ve taken those first few steps, here are a few platforms you can check out to find Virtual Assistant jobs:

  1. LinkedIn
  2. Networking Events
  3. Indeed
  4. Upwork
  5. PeoplePerHour

3. Fill out online surveys

Of all the ways to make money online while you’re retired, filling out online surveys has to be the least stressful. You can fill out surveys while you’re watching TV or listening to a podcast.  All you really need is time. As you can imagine, you won’t make a living filling out surveys, but if you do enough, you could make a couple hundred bucks a month without much effort.

What websites can you use to find online surveys?

Here are 5 platforms to find surveys with the best payouts:

  1. Swagbucks
  2. Opinion Outpost
  3. Pinecoast Research
  4. Maru Voice Canada
  5. Survey Junkie

4. Turn a hobby into a career

Ok, ok. This one isn’t online but it’s definitely worth adding to the list. Boomerang is all about connecting with new people and learning new skills. Our workshops help you learn everything from mindfulness to yoga and even financial planning.

If you have a hobby or are experienced in something and would like to teach a Boomerang workshop, we would love to hear about it. Reach out to us at to learn more about hosting!

This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While the information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or its affiliates.

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