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How Retirees Can Earn Money Online
Money Tips

How Retirees Can Earn Money Online

by Guest Blogger
written by Guest Blogger

As a retiree, there are many activities that you can spend your days engaged in. Maybe you’re working on a project that you’ve always dreamed of doing. Perhaps you’re living casually, traveling the world or ticking off items on your bucket list. How Retirees Can Earn Money Online
Whatever it is you’re doing the chances are that you’ll need money to do it, and since you’re not working, you may not want to go ‘all out’. However, instead of returning to the typical 9-5 workforce, why not use the power of the internet to earn money from the comfort of your own home?
Today, we’re going to explore many of the ways that you can do this, helping you to earn money in your own time, allowing you to live the life you want to live.

Sell Your Photos

If you’ve got a knack for taking pictures or videos and spend your time attending events or going to various destinations, why not profit from the photos that you capture? You can either sell your photos to magazines and other publications or release them as stock imagery for continuous income.
Start selling your snaps at websites like Shutterstock or Twenty20.

Become a Tutor

If you’ve got a knack for teaching or extensive knowledge in a certain subject, in education or another language, there are people out there that are happy to hire you to teach them. Using either text-based chats or video calls, you can connect with these individuals and be paid to share your knowledge.
Find a student today at websites like Academadvisor, Let’s Go and Learn or Writing Populist.

Review Online Websites

Reviews have become the verbal currency of the internet. Before anybody uses a service or buys a product, they want to look at the reviews to ensure it’s right for them. So, why not test and write these reviews to help thousands of people around the world when making the right purchasing decisions.
Start your review writing career at sites like Revieweal and UK Services Reviews.

Sell Crafts Online

If you’ve taken into retirement and spent your days creating little crafts or creative pieces, such as jewellery, picture frames, or drawings and paintings, why not sell them to people who love your work. This is a really flexible option as you can work in your own time and do what you love!
Start selling your crafts on websites like eBay or Etsy.

Become an Academic Writer

Dissertation writing is more popular now that it ever has been before. Students are learning more and more and have, as a result, more coursework and assignments than ever before. A lot of students find it tough to keep up, so if you excel in a certain subject, or have experience in writing essays, this could be ideal for you.
Get started at websites like Paper Fellows or Assignment Help.

Be an Editor

As you may have noticed, there are a seemingly infinite number of blogs and websites online, each with their own blog posts and articles. However, websites want the best of the best for their sites, so why not become an editor who can check the content to make sure it’s worth uploading and free of mistakes.
If you’ve got an eye for high-quality content, secure your first job at sites like Best British Essays or Studydemic.

Write Resumes

The job-seeker market, no matter where you are in the world, is increasingly competitive and applicants are starting to notice the importance that a resume has on their chances of securing a job. However, not everybody is a talented writer who can do, so why not get your computer and start getting paid to the write them on their behalf.
You can find jobs like this at websites like Oxessays.

Write Blogs and Articles

While editing content may not be for you, why not try writing the content itself for businesses and individuals all over the world. You’ll have to start small and work your way up, but if you’re able to express yourself or a concept in a comprehensive way, this could be for you.
Find your first writing job at platforms like Upwork or People Per Hour.
By Mary Walton
Mary Walton is an editor at Australian Assignment Writing Service and BigAssignments, tutoring websites that help Aussie students. She blogs on Simple Grad, read her Best Essay Writing Services article there.
How Retirees Can Earn Money Online How Retirees Can Earn Money Online How Retirees Can Earn Money Online How Retirees Can Earn Money Online How Retirees Can Earn Money Online How Retirees Can Earn Money Online How Retirees Can Earn Money Online How Retirees Can Earn Money Online How Retirees Can Earn Money Online How Retirees Can Earn Money Online How Retirees Can Earn Money Online

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Retirement Can Hurt Boomer Living Standards
Retirement Planning

Retirement Can Hurt Boomer Living Standards

by Jeff Dailey
written by Jeff Dailey

How retirement hurts living standards for baby boomers

The baby boom generation — aged 52 to 70 — is going into its “Golden Years,” and some boomers would like to keep working or even take a second job to supplement Social Security. Retirement can Hurt Boomer Living Standards
But a study from the National Bureau of Economic Research (NBER) categorically refutes this scenario. The “tax disincentives” of working nine-to-five — or earning an extra $20,000 at the local McDonalds — make employment a lost cause. What they’ll see instead is most of that paycheck vanish into the black hole of the IRS, not to mention state and local taxes.
“You’re better off staying home and eating macaroni and cheese,” said one of the study’s four authors, Boston University economics professor Laurence Kotlikoff.

What seniors need to know about working in retirement

It’s hard to argue with some of the study’s premises. Boomers who take Social Security early at age 62, rather than the full retirement age of 66 – or 67 for those born in 1960 or later — face a huge tax disincentive. For every $2 earned, one is likely to be taken away by a 50 percent marginal (or extra) tax rate on earnings above the recipient’s monthly Social Security check.
And that’s only one of the many ways the tax code can work against boomers who want to earn additional money. They’ll also encounter higher Medicare taxes and other disincentives, said Kotlikoff. “Older people can also lose disability benefits if they make too much money.”
When the NBER study added up all the different federal programs that apply to boomers, the result was a negative number. “Many, if not most baby boomers appear at risk of suffering a major decline in their living standard in retirement,” said the NBER.
“With federal and state government finances far too encumbered to significantly raise Social Security, Medicare and Medicaid benefits, boomers must look to their own devices to rescue their retirements, namely working harder and longer,” the study claimed.
Despite advice to the contrary, about 98 percent of seniors take Social Security prior to age 70 — when they have to and would receive the most money.
“Almost everyone does the wrong thing,” Kotlikoff said. “They take the Social Security money as soon as possible.”

Four in 10 baby boomers have no retirement saving

Not only do they get less, but they face “a plethora of explicit federal and state taxes and implicit taxes arising from the loss of federal and state benefits as one earns more” said the study. That includes Social Security’s complex earnings test and the clawback of disability benefits.
But this doesn’t mean older Americans are stupid. “Most older workers aren’t privileged and need to retire early, either because they’re fired or laid off, or the work is killing them,” said Teresa Ghilarducci, an economics professor at the New School in New York City and an adviser to Democratic presidential nominee Hillary Clinton.
Once “retired,” more than half of retirees find that their savings are inadequate for the 20- to 30-year road ahead and feel as if they’re behind right from the start, according to a study by the Employee Benefit Research Institute. They take Social Security because they need it. Then they look for a part-time job to supplement their income. That’s when they get caught in a squeeze. They find that if they’ve already taken the minimal payout from SS, they won’t earn much from a job.
“Working longer, say an extra five years, can raise older workers’ sustainable living standards,” the NBER study states. “But the impact is far smaller than suggested in the literature, in large part because of high net taxation.”
So in many ways, retirement for boomers is a drag. Pensions, which used to support people after they retired, are vanishing, and 401(k) plans and IRAs work only if people invested in them, and wisely. Most didn’t, according to Federal Reserve data, and those who did may have become victims of recession, the need to draw on their plans to survive or simply made the wrong choice of investments.
Ghilarducci said the answer is increasing Social Security benefits, reforming the pension system and making 401(k) plans “universal and efficient.”
Good luck with that, or with a reform of the tax code, said a New Jersey financial planner whose name was not used for compliance reasons. “The tax code is like a pinball machine,” he said. “One thing bounces into another. And it would be nice if they raised Social Security, but it’s going broke.”
But most disheartening is the way many people see their lives ending — sooner rather than later. “They’re sure they’re going to die young, which is why they take Social Security early,” Kotlikoff said. “Then they don’t have to pay any bills. Death is financial salvation.”
Article Source: CBS, Ed Leefeldt
Ed Leefeldt is an award-winning investigative and business journalist who has worked for Reuters, Bloomberg and Dow Jones, and contributed to the Wall Street Journal and the New York Times. He is also the author of The Woman Who Rode the Wind, a novel about early flight.

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