Who doesn’t dream of the day when you can quit working that 9 to 5 or shift job and sit back in retirement doing whatever you want to do? But waiting until you’re 65 can seem a lifetime away, no matter how old you are!
If a wonderful retirement at 65 sounds great, what about at 60? 50? 40? Even better, right? So I’m here to tell you the best way to retire early, and anyone can do it!
Second Stream of Income Can Make You Financially Secure!
Let’s face it, the way to retire early is to have enough money to live on without working your job, pure and simple. So there’s two ways to accomplish this–reduce your expenses to the amount of your retirement income or increase your income to save more.
Unless you are planning to downsize your life, move off the grid into a cabin in the woods, and live off the land, the best choice may be to increase your income. But how?
Get a second job that takes more time away from your family? No.
Go back to school for a better paying career? Possibly, but expensive, time-consuming, and not an option many times.
But what if you could develop a second stream of income in your spare time doing things you love to do? Not only could you save more, you could keep making this money in retirement, and Voila! Early retirement becomes a real possibility!
There are literally unlimited ways you can develop an independent stream of income. In fact, just by opening your mind to the fact that it’s possible is the first step!
Turn Your Hobby Into A Business
When you want to relax and do something you enjoy on your day off, what is your favorite hobby? Gardening? Refinishing furniture? Woodworking? Hitting the local flea markets and estate sales? Painting? The list is virtually endless, and you can make extra money from any of them.
A dear friend of mine loves to spend afternoons painting. One of her favorite pieces was a painting of their property on a large circular saw blade.
Pretty soon, neighbors and friends were bringing their saw blades to her to paint pictures of their properties onto them (including my husband and I!) Fast forward a couple of years, and she’s now got a part-time income painting everything from flower pots to throw pillows!
My in-laws are farmers and bought a lot of their tools and equipment from farm auctions and estate sales over the years.
Along the way they acquired a lot of items very cheaply that had a lot of value and learned how to resell them on EBay for a profit. It’s a hobby they enjoy doing together, and it has given them a stream of income that enables them to have a very comfortable retirement.
But there are a lot of hobbies out there that would quickly turn into a job that wasn’t so much fun if you did it to make money. A good example is my flea market flipping!
I love to go to flea markets and estate sales and find old items that I can turn into treasured pieces. A lot of the furniture in my house are these refurbished bargain pieces.
But if I took this hobby and tried to scale it up to where I was making money, I know the hassles would prevent me from enjoying it like I do now.
So my #1 recommendation for a second stream of income is the one that I chose, and I’ll detail it for you next!
Do you have a passion, but don’t want any of the hassles for things like selling, shipping, dealing with customers, making a lot of room in your house for projects or storage?
Well, affiliate marketing could be just what you’re looking for! Creating an online business is the method I chose, and I love all the benefits that affiliate marketing provides:
- No expensive equipment to buy–all you need is a laptop and an internet connection
- No commute–you can work from the comfort of your own home
- You can choose any niche you’re interested in
- Building an online business is easy–technology has made creating a website so simple you can do it in less than 3 minutes!
- Unlimited earning potential–once your business is profitable, you can create more than one website to scale your earnings as high as you want!
- Very low cost to start–website hosting, training, and a whole community of mentors is just $49 a month with the program I use to make money online
- You can start your business in your spare time while you’re still working and retire whenever it’s profitable enough to replace your income!
- Want to travel? Your affiliate marketing business can be run anywhere you have access to the internet
So what is affiliate marketing? Basically, it’s using your own website to promote products or services that you are interested in.
Within your articles are affiliate links that take your readers to a website, such as Amazon, where they can buy the products. In return, you receive a commission on anything the reader buys, usually about 5-12%, but sometimes as much as 85%!
Think setting up your website and writing promotional posts is difficult? Not with a program like my top rated system!
Wealthy Affiliate is a one of the most advanced community-based platforms in the world and teaches you everything you need to know about affiliate marketing.
Your initial website set up and lessons are available with their FREE membership, and their premium program is just $49 a month if you decide you want advanced training.
For example, do you enjoy gardening? Do you talk to people about gardening? If so, you already have the ability to earn an income communicating about anything and everything garden related and promoting products you love. With Wealthy Affiliate, the possibilities are endless!
Selling Stock Photos
Another wonderful hobby that lends well to making money to retire early is photography. Do you have a passion for taking pictures? You can earn money by selling your photos online!
There are sites, such as istockphoto.com or shutterstock.com, that are microstock sites. They let you upload your photos to their portfolio and then you get a commission on every sale.
The sale price usually starts around $1, and the commission rate varies depending upon the quality and size of the photo. While that doesn’t seem like much, each photo can be sold over and over resulting in a significant income stream.
For those who love to travel, just think of the wonderful photos that you could take as you enjoy all the places you go.
You’ll need to invest in quality equipment to get the kind of quality photos the microstock sites are looking for–cell phone pictures won’t do it. But if you truly enjoy photography and understand how to take a great picture, selling stock photos could be just what you’re looking for!
Another recommendation is creating beautiful handmade crafts. I’ve always admired those who could design and create wonderful items like artisan soaps, holiday ornaments, jewelry, clothing–you name it!
If you are one of these talented people who love to create unique things, you have all sorts of options for selling them:
- Flea markets
- Local shops
- Craft Fairs
- Handmade at Amazon
These are just a handful of the options out there available. Show your crafts to the world and create a stream of income that can help you build your early retirement!
The Best Way to Retire Early
Developing a new stream of income to ensure your financial security can seem like a daunting task. But if you look at the activities you’re interested in or at the things you have a passion for, you will discover the beginnings of a lucrative second income.
Ready to take that passion and see how to create your own website to earn money? Just use the box below to see how easy it is to get started!
Don’t forget–the best way to retire early is by doing something you love! What ideas do you think are the best for retiring early? I’d love to hear them in the comments below!