Dave Says
Advice from Nashville's leading Financial Aid Advisor Dave Ramsey
Author of Financial Peace and The Total Money Makeover
Retirement…how to make extra income?
I am writing because I am retired, but I wanted to know how maybe I could have some extra income coming in. I am doing okay but I think if I could find a way to earn some extra income I would feel a little bit more comfortable. What do you suggest?
Rose in Dallas, Tx
Dear Rose,
Let me give you some ideas about extra incomes. First of all, you don't want to fall for one of these 'get rich quick' schemes that are out there. You know the schemes where you just buy a kit and you magically become a millionaire while working in your basement licking envelopes or some other scam like that. The best way to create extra income is to do something that you already know something about, or something that you just really love doing. It could be an old job you used to have, or it could be a hobby that you've always had.
For instance, I have a friend that has always had an interest in hunting, so over time he became very good at working with guns. He started a small part-time business in his garage as a gunsmith. He has a really good time doing it because he likes tinkering with those things.
So sit down and figure out what you already like to do, and that is your starting point. Think about what you can build, fix or create that someone else would be interested in buying or coming to you for. If you really love doing it, it won't even feel like a job to you. You will just be doing what you love to do anyway.
- Dave
6/10/2004
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