From renting out space to getting paid for your opinions, how to boost your income when you’re retired
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NEED to make some extra cash in retirement? You are not alone. Nine in ten over-65s find the state pension is too little to live on, says charity Independent Age. But heading back to work is not an option for most. Instead, people are having to find other ways to make money.
![[Nine in ten over-65s find the state pension is too little to live on, says charity Independent Age]](https://www.thesun.co.uk/wp-content/uploads/2024/12/senior-man-painting-walls-958331965.jpg?strip=all&w=960)
Some rent out rooms or sell vintage treasures, others are rewarded for how they shop. Around one in five people aged 60 to 78 have a side hustle, says personal finance website Finder.com. You can make up to £1,000 extra per year tax-free under the Government’s trading allowance.
![[Sites like fatllama.com let you rent out your possessions so other people can use them]](https://www.thesun.co.uk/wp-content/uploads/2024/12/young-happy-plus-size-woman-785598401.jpg?strip=all&w=960)
Earnings above that must be declared to HMRC. If you want to afford the cost of living but not leave your home, Mel Hunter has found these ways to make money . . . IF your children have flown the nest, you can rent out space in your home on websites SpareRoom or AirBnb.
![[You can sell your clothes on eBay or Vinted]](https://www.thesun.co.uk/wp-content/uploads/2024/12/photo-pretty-lovely-girl-look-956287078.jpg?strip=all&w=960)
Take in a lodger or just rent out a room occasionally. You can earn up to £7,500 a year renting out a furnished room until you have to pay tax on it, through the government’s Rent a Room Scheme. Matt Hutchinson of SpareRoom says: “Between increased interest rates and the current cost of living, more homeowners are looking for ways to make extra cash.
![[You can earn cash by doing surveys]](https://www.thesun.co.uk/wp-content/uploads/2024/12/artg48-blue-pen-survey-form-292771.jpg?strip=all&w=960)
"For over-60s, renting out a spare room is easy, and a great way of keeping company for those who live alone.”. Or just let someone store their stuff in your spare space. You can make as much as £1,000 a month by letting your garage, says David Mantle of stashbee.co.uk.
![[Use a cashback website such as Quidco or Topcashback to get money back when you spend]](https://www.thesun.co.uk/wp-content/uploads/2024/12/gwj8b1-blue-cash-back-key-272855721.jpg?strip=all&w=960)
