By Business.com staff, written for Business.com
Are you retired and looking for a way to still earn a good income? Turn your hobby into an income stream.
Many retirees have turned side interests into income. Learn how to make money in retirement, including getting started, getting funding and what it means for taxes.
The number of senior Americans who call themselves boss is growing steadily. In 2015, the U.S. Bureau of Labor Statistics found the self-employment rate among workers aged 65 years and older was higher (15.5 percent) than any other age group. Retired seniors are still working, and many are working for themselves.
Seniors certainly have the same drive and entrepreneurial skills as any other age group. Many who want to learn how to make money in retirement turn to their hobbies as jumping off spots for launching a small business. If you match the right hobby with the right business plan, you can make it work. Here are some ways to make money in retirement by turning your hobby into a successful business.