7 ways you can make extra money in retirement

Retirement can be the most wonderful time of life. You can set your own schedule and do as much or as little as you want. According to the U.S. Social Security Administration, a 65-year-old woman in 2013 is expected to live until the age of 86, and 25 percent of women who are age 65 today will live beyond 90. To get the most out of your new-found freedom, it helps to have enough money and income so you can pay all your bills, go out to dinner when you like and maybe even take that cruise.

If you are like most people, you worry about outliving your money or losing it in the stock market. If you are not in as good a financial position as you want to be, there are many ways to earn some extra income during your retirement years.

1. Find the Right Fit.

There are always opportunities for anyone with the determination to work. The Senior Community Service Employment Program (SCSEP), which is funded by the U.S. Department of Labor, helps people over 55 find part-time work with community service organizations. Talk with friends, family and even former employers for possible job ideas. Look at the companies, products and services you use for inspiration in job hunting.

2. Freelance Writer.

If you have a computer, an Internet connection and a good command of the English language, you can make a decent income writing. Businesses need people to write content for their websites. You can write about subjects you know well and use the Internet to research unfamiliar subject matter. Freelance writing allows you to set your own hours and work at any time of the day or night. The amount of money you can earn depends upon your writing skills, the writing sites you join, the clients you have and the amount of time you work. According to Payscale.com, freelance writers earn $15.88-$38.19 per hour.

3. Babysitter.

While you probably do not want to charge to babysit your grandchildren, you can make a decent amount of money babysitting other people's kids. Many parents feel more comfortable leaving their young children with an older babysitter rather than a teen. Your friends and associates are your best source for customers. Set your wages according to the age and number of children you watch. Payscale.com estimates that babysitters can earn between $7.22-$14.96 per hour.

4. Appointment Setter.

A low-pressure job that does not involve any selling (according to Payscale.com), you can earn $9.08-$17.16 per hour calling people and setting appointments. All types of businesses, from life insurance and payroll services to specialty advertising companies and carpet-cleaning businesses, use home workers to set appointments.

5. Turn your Hobby Into a Small Business.

If you love to sew, knit or do any other type of arts and crafts, you can turn that love into a business. You can sell the goods you produce online, at flea markets, county fairs or even in juried art shows. It is hard to say how much you can earn, but at least you will have fun doing something that you love. Look at Etsy.com for inspiration and as an online marketplace to pedal your wares.

6. Work the Drive-Thru.

If you want to get out of the house and like talking to people, you can get a part-time job taking orders at your local fast food restaurant. Tell the manager you simply want to take orders, not cook or serve them. You can usually sit down while you work and while the pay is not much more than minimum wage, you might get a free meal as a benefit of the job.

7. Use Life Experiences to Teach Others.

Ideas for earning extra income often develop out of personal experience. While you may not have worked in a bakery, you may be the best pie-maker in the neighborhood. Perhaps you had your identity stolen and made it a point to never have that happen again, so you subscribes to Lifelock and installed an alarm system and added more lighting around the exterior of your house. Civic organizations and senior groups are always looking for, and willing to pay, interesting speakers. You can share your experiences and help homeowners stay safe or teach frustrated bakers how to make the world's greatest apple pie.

Taken from: Guest Post (article, By Albert Lester), Google (images).