10 Interesting Side Jobs to Take Up After Early Retirement

Planning for an early retirement and not sure how you would kill time?

Retirement doesn’t come with a clause that you can’t work anymore! Perhaps it’s the time to work for your passion and chase your dreams. You can always take up some side jobs that would keep you occupied and in the same time fetch you some dollars. Some people start feeling low after they retire and are not able to cope up with the sudden change from being overly busy to doing nothing. A little work you do could be a motivation for yourself and make you feel optimistic about yourself.

10 Interesting side jobs to take up after early Retirement

Researchers say that it’s not good to shut yourself completely from the work life at a younger age. Taking up a part-time job could keep your mental and physical health at balance. This would change the way any retiree to feel that they are no longer fit to work and would be spending all day sticking around the couch to watch TV or play video games. Early retirement has certain benefits as well.

To all the retirees out there and those who are planning for an early retirement, we share with you 10 interesting part-time jobs to take up after your retirement and spend quality time.

10 Interesting side jobs:

Wear your host cap and meet new people

If you love meeting new people and interacting with them, then hosting tourists can be a great option. There are sites like Airbnb, homestay etc. where you can rent out a room to tourists. You can share your knowledge about the place and suggest the places to visit etc. All you need to do is register on their website and add details of the room along with pictures and facilities provided.

Pick up your paint brushes and create Artworks

If art was sometimes your passion but work life kept you away from your brushes, then now it’s time to chase it. You can start creating your artworks and sell them online. You even try out some art galleries that might shred out a space to sell your art.

You can chase any hobby like join a band, create sculptures, paint etc.

Become a personal coach, trainer or instructor

Sharing your knowledge is a good approach especially when you can make money out it. You can become a personal swimming coach, soccer coach or anything. You can even take pieces of training based on your experience or conduct academic lessons for kids.

Share your views and start blogging

If you love writing and are good at it, then you can start a blog to share your views. You can work wherever you want and at your own pace plus earn money as well. Writing a blog requires a lot of research and you can broaden your knowledge.

Rediscover the art of carpentry

If you love playing with wood and turn it into something creative, then you can try carpentry. Buying branded wooden furniture every time might be out of the budget, you can show your creative side with turning the old furniture into something new and trendy.

Spend a day with a pet

If you are fond of pets then pet sitting or dog walking can be the great side gig. People are so busy with their lives that buying a pet would be easy for them but no time to take care of them. You can spend a day with the pets and get paid.

Become a Yoga Instructor

If you love doing exercise or yoga, you can instruct others and help them learn yoga. Life has become too stressful today and so people are looking for ways to overcome the stress. Yoga has gained significance worldwide and there is great demand for yoga instructors.

Relive the star in you

If you love performing and showcase your skills in public, then you can try hands-on street performance or stage shows etc. Not sure about how much money you’d make but if it’s your passion then go for it.

Become a drone pilot

Drone pilot is the latest buzz in town. All you need to do is take pictures of big companies like Amazon, Facebook, for real estate agencies, for film-making and advertising. You need to pass a test to become an FAA licensed drone pilot.

Try hands-on house sitting

If you love exploring new places, you can be a house sitter, travel around and get paid to stay at someone’s house. You need to take care of the house, pets and plants when the person is out of town.

Summing up:

Retirement is a new phase of life which you can spend at your own convenience. Spend this phase by exploring your passion and hidden talents. Hope you can find your side job from the listed ones and enjoy your retired life.


3 Ways to Learn the Basics of Business Accounting

Handling the finances for a business can be a difficult task when you aren’t familiar with the basis of accounting. Whether your business is large or small, having an understanding of financial matters is critical to your success. Even if a large business employs a department to handle the accounting tasks, it is still important to know the basics in order to effectively communicate.

Business Accounting

If you have a small business, you might be the one tasked to manage all of the accounting yourself. Either way, it is time to go about learning the ins and outs of the numbers.

Accounting vs. Bookkeeping

The first thing to comprehend is the difference between accounting and bookkeeping. While the terms might be used interchangeably, they are not quite the same. Bookkeepers are in charge of recording the money that comes in and the money that goes out. They “keep the books.”

An accountant then takes that information and analyzes it by doing audits, creating reports and graphs, and presenting financial statements. Sometimes the bookkeeper and accountant work together and other times, they are just one person. An accountant might have a certification from the state or a higher degree than the bookkeeper due to the increase in functions.

While you are in the process of learning, it is crucial that you have an accountant for your business to ensure you are properly taking care of your financial requirements. They can work as a consultant helping you through the process and making sure nothing is missed.

Know Your Spreadsheets

Trying to make your way around accounting information would be problematic without knowing the basics of an Excel spreadsheet. Being familiar with columns, rows, and cells is the foundation, but learning how to do calculations, create graphs and charts, and learning some fundamental functions in Excel, or another spreadsheet software like Google Sheets is critical. Fortunately, there are many free videos and courses online to help. Many companies offer free Excel training because they know the value it brings in increased productivity.

Continued Learning

Reading books on accounting and taking free courses online is a great way to beef up your knowledge of financial topics. A few suggestions for books are Introduction to Accounting by Marriott, Edwards, and Mellett and Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial ReportsbyIttelson. Both of these books are considered a few of the best entry-level books by those who are familiar with the industry.

Sometimes you can find a night or weekend course to take at your local community college, but you can also take courses for free on the internet. Try MOOCs (Massive Open Online Courses) which feature lectures and power point presentations from some of the best educators in certain topics. Or there are online platforms like YouTube with experts who have thousands of followers. These videos are usually short enough that you can master a few concepts in a short amount of time, so it is a great way to build on what you already know.


Financial Benefits of Marriage vs Being Single – What’s your Status?

Have you ever thought that tying the knot may not only make you happier but wealthier as well? There are financial benefits to your current status -be it married or single.

According to the National center for Health and Statistics, about 2 million Americans get married each year. Also, a 2005 study at the Ohio State University (OSU) came up with the analysis that there was a sharp increase in wealth for people after marriage. But on the adverse side, divorce had a negative impact on the financial situation. So, there are both pros and cons to being married. There are various factors involved that play a role in your financial status post marriage, namely- your income, your lifestyle and whether you have children.

Financial Benefits of Marriage vs Being Single – What’s your Status

It’s impossible to say whether married or single people are financially better; instead, it’s better to examine the financial benefits and drawbacks of marriage to be prepared for now or for future.

Marriage – Costs, benefits and more

Marriage comes with a benefit of sharing not all your feelings but also your expenses and responsibilities. Married couples can enjoy the benefits such as retirement, taxes and insurance which singles do not. However, wedding cost is something that can’t be ignored. Also, tax laws can benefit some couples and adversely can be a penalty for others. One of the biggest financial setbacks in a marriage happens when it ends in a divorce. There are other factors to understand the financial pros and cons of a marriage:

  • Joint tax returns

The honeymoon is over and the reality comes in, to start with a new routine. Marriage changes a lot of things such as your daily routine, lifestyle and leisure time etc. One of the key tasks for newlyweds is to adjust to file a joint tax return, which in many cases comes with a marriage penalty.

The marriage penalty is because of the tax brackets that accounts for income levels at which tax rates shift aren’t exactly twice as high for couples as for singles. Hence, couples who file returns jointly pay more as they would for 2 single persons. However, not all couples pay this penalty.

If either of the two earns all or most of the income, then you get a marriage bonus of paying less in taxes for joint returns. There are tax benefits as well for married couples which singles cannot avail, such as tax deductions, home sales, gift taxes and estate taxes.

  • Wedding debt

Average wedding cost in the US is nearly $30,000 and thus people go for the wedding loan. Most couples end up in debts to pay for their big day. Instead of starting a new life with debts it’s better to look for other ways to finance for the wedding or plan a budget.

  • Risk of divorce

The risk of divorce is perhaps the greatest financial risk of getting married. Getting married may add benefits to your financial status but a divorce can turn the tables. The study at OSU states that on an average, divorced people have 77% less wealth than single people of the same age group. The impact of divorce stays for a long period after a couple splits up.

  • Health benefits

Married couples enjoy the benefits of choosing from various health insurance plans and save money on premiums.

  • Retirement benefits

Among all the benefits that a married couple has, retirement benefits are the most essential. If you’re single and unemployed you can’t make contributions to IRA but, if you’re a stay-at-home spouse, you can set up a spousal IRA and make contributions from your joint income. There are various options for collecting social security benefits for married couples.

  • Shared expenses

Two single people staying together can live cheaply as one, by sharing all your expenses. Married couples can spend less by sharing household expenses, rent, food and utilities, than two single people living together. Sharing responsibilities along with expenses is a better way. If you’re single and live alone, you might end up spending on restaurants more than prefer to cook for one at home. If you’re living with a partner, you have the option of sharing household chores. Fewer expenses account for more savings.

  • Parenthood expenses

The U.S. Department of Agriculture (USDA) published the annual report “Expenditures on Children by Families,” which shows that a family with a child born in 2013 can expect to spend more than $245,000 raising that child to adulthood. Childcare costs for working parents, housing costs, tax breaks etc. can be an offset if you don’t plan things well.

Summing up:

It is true that marriage comes with additional benefits along with a loving partner. But it’s better to stay single than getting married to a wrong person and end up in divorce.  If you’re single now but plan to get married someday, then choose a partner carefully. If you’re married, then take time to discuss your financial goals and needs with your partner for a better future.


Wedding Loan- Is it a Good Way to Cover Costs?

high record last year of $35,329. Don’t worry; you can even have a beautiful wedding within your fixed budget as well. It’s not really easy but these 3 key strategies would help you in this endeavor: Stick to the numbers, set priorities and save for your wedding. While you would have planned a budget for your wedding, and you might consider taking out a wedding loan or using credit to pay the wedding costs. With some proper planning and efforts, you can manage with other ways to save and pay for your wedding costs.  Most people prefer the easiest method of taking a loan or pay using a credit card, if you’re also going to follow the same then consider these points. Wedding Loan- Is it a Good Way to Cover Costs

A wedding loan:

There’s no such term as a wedding loan; a personal loan can be taken for any personal reason be it a wedding. People go with this option or use a credit card when they are short of cash to pay for their wedding. Most financial advisors would not recommend you to take a loan for your wedding. Your credit score plays a major role in your wedding loan. Check your credit score before you apply for a wedding loan.

Before you get a wedding loan:

Getting a wedding loan means you’re opting for a personal loan or use a credit card, to cover the wedding costs. But this decision is not solely yours- it will have an impact in your life after marriage. So, it’s equally important to consult your partner if he/she is there to set a foot beside you in your decision. This financial decision is something you should never impose on your partner as it can cause a crack in the relationship in the long run. Before you get a wedding loan, consider the fact that you’re taking this loan just for a day’s celebration and it might take a few years to pay off this loan. Before you sign any paperwork, consult a few financial consultants and get the opinion.

The good and bad side of wedding loans:

There are pros and cons of getting a wedding loan before you walk into a bank, you should know the two sides of it. The good side:
  • Your loan can be easily approved if you’ve got a good credit score.
  • The good credit score can get your loan with lower interest rates as well.
  • Monthly payment options (set automatic payment) with no fuss.
The dark side:
  • The loan comes with long repayment period.
  • If you’ve got a bad credit score, chances of getting a loan are less.
  • Bad credit score means higher interest rates.

How much money can you get from a wedding loan?

As you know, your credit score plays a key role in getting you a loan for your wedding. With a personal loan, you can get $2,000 to $35,000 which depends on your credit score and other factors.

Alternate ways to cover wedding costs:

By saying alternate ways, it doesn’t mean you pick one and then stay in debt for years. The wisest move is to set a budget and cover the costs within it. Alternatively, you can cut down on the unnecessary costs and save a few dollars. There are other ways to cover the cost of your wedding and few options are listed below:
  • Extend your engagement and save for the wedding
This is one of the best ways to cover the wedding costs. Get married when you’ve saved enough to cover the costs or simply extend your engagement. By doing so, you can get enough time to save for your wedding without going for a loan. There’s no harm in a long engagement, sometimes venues are already booked or for other reasons. You can even book a venue a year in advance to grab any discounts and start saving for those pricey things that are non-negotiable.
  • Use a credit card or Home equity line of credit
Most financial advisors straight away shut with a big no when it comes to using a credit card or line of credit to pay for the wedding. It is one of the fastest ways to drag you into deep debt. But if you’ve cash in hand (to pay the credit card amount in full) and then use a credit card can fetch you points for flight or hotels.
  • Use an online personal loan company
A lot of loan online companies provide you loans similar to any other bank. The process remains the same to pay back with interest on time.

Summing up:

You might have imagined a lot of things for your wedding, but making it fit to your budget lies on how smartly you stretch your feet. Hope the above-mentioned points would give you an insight before you plan on how to cover the costs of your wedding. With little efforts and planning, you can have a grand wedding within your limited budget.]]>