How to create passive income in retirement - And we want to do this fairly speedily so
in case you're new here we're Norm and Tina and we talk all things retirement and
if you haven't yet subscribed to our channel we would very much appreciate if you would hit
that subscribe button for us it really helps our channel thank you Number 1. Tina what have we got
- Buy dividend stocks now by that we mean
by good quality aristocrat stocks - Yeah not those high percent dividend stocks that pay 15 to
20 percent and then they cut their dividends and their stock price falls through the basement no
we're talking about good quality stocks - Stable ones - That are paying 4 to 5 percent in Canada
maybe in the U.S. it's going to be near 2 to 4 percent for your stocks
Number 2. Is an interesting one because it's about being in retirement keep your brain sharp
learning new things so why not take an H & R Block tax preparation course,
you get to work for 3 to 4 months of the year Tina
and you're learning a new skill - This is true and your qualified after taking the course
aren't you don't have to be an accountant or anybody - No providing you can pass the test
if you pass the test then you can do everybody's taxes we think that's awesome
- It is and 3 or 4 months you're gonna get some income from that - Number 3. You can visit
thrift stores and garage sales and you can pick up deals and then resell them online on Ebay or
Facebook Marketplace so you might pay a tiny amount for something and then you can
sell it for a lot more so you're making a lot more money and it's giving you a past time to do
when you're there anyway - And the other thing about it is you might have some experience you
might have a hobby like photography so you could recognize a really good camera that's in a thrift
store that nobody else knows the value of - That's good one Norm. - Number 4. Pizza delivery
we say this because one of our viewers left a comment on a recent videos and he said
he delivers pizzas so he gets paid to deliver the pizza and then he said his tips because
a lot of people tip him at the door, it was enough to pay for his grocery bill in a month
just from the tips - We thought that was awesome didn't we - And he had one bonus point as well
- Which was - Kept him fit - Yeah absolutely we thought that was a great idea didn't we - So if you
don't have an opportunity for pizza delivery there are other things for food deliveries like Door
Dash Uber Eats etc so it's easy to get in on that type of Gig economy I think they call it, Tina
came up with a great one for Number 5. - Oh yeah well this wouldn't be much good for us but for
people out there - Down fido! - A dog walker so you know all these people working that have
dogs at home they need the dogs taken for a walk so if you can find three or four dogs a day
they pay really good money and you keep fit so you get exercise and you get paid for doing it
- That seems to be a common trait isn't it get a job and keep fit - Absolutely and
we've seen people walking down the pavement with 3 or 4 dogs at a time let alone doing
them individually - That's right - We thought that was a great one - You can set your own hours.
- So we're on Number 6. Norm - Well this is one close to home because since
we have been staying home and self-isolating and not doing non-essential travel we have decided
not to go to the grocery stores when there's a spike in the COVID-19 infections in our town
and so we use Instacart and Instacart is an app where they will go and get your groceries
for you so they will go to Walmart and go to popular supermarkets all the big name brands
and they are available in the U.S and in Canada and it's been a really good service for us so
why not become an Instacart shopper and do the shopping go to the groceries if it appeals to
some people people like shopping so you get paid for it - Absolutely couldn't be better could it.
Whoa! we're on Number 7. How about if you like writing being a freelance writer or
an illustrator or you can even do voice overs and we are hearing a lot about is people
reading so do audio books and I think you can set your own hours - There are lots of online
websites that are geared up to match people together so you might have an author
doing a children's book who is looking for an illustrator and you can bid on the work and
you can see what they're willing to pay and some of them will do a royalty cut
with you so that's a way of being able to get unearned income and royalties so
there's lots of opportunities for freelance work whether it's voice or
doing one of your skills online so give it a try do a search.
Number 8. The other thing that's cropped up during this pandemic is home delivery service
a lot of people don't want to go out maybe they are over anxious about
what's going on at the moment (yeah) so you can call up we have 3 services in our town where we
can call up they'll go get beer and wine they'll go to a restaurant for us and pick up the food
they will do your shopping for you if you want a specific shop that Instacart
doesn't go to then they'll go to it for you, you just have to email them your shopping list and
they'll go do it and then you pay them when they bring your groceries to the door - And it's quite
reasonable isn't it Norm I think it's only about sort of 10 dollars and that includes the whole
thing brought to your door and everything, so we found we're finding it pretty reasonable aren't we
- Yeah and the whole home delivery thing is you might not want to do that so the other
neat thing that we're hearing in our town is people with Costco memberships and the Costco
is quite away from where we live so they offer for people who don't have memberships or don't
have the means to get to Costco they'll go and get their items from Costco for them and bring them
back - that's a great idea Norm isn't it. - How about Number 9. Do we have commonalities
with this one - How about you start a YouTube channel - It's so easy to do YouTube
- Well let's retract a bit let's not say it's dead easy - It certainly isn't - If you don't start it
then you won't get anywhere will you - No you won't but it's it's a long journey but
it's rewarding even if you don't earn any money from YouTube it's certainly rewarding we
feel as though we're having online conversations with all of you and the comments,
it's turning into a great community of people we are meeting from all over the world so
a YouTube channel can be rewarding once again if you don't know how to set the camera up or
your phone or do editing these are all things you can learn YouTube is very good
to find out how to do these things - In fact we often talk to people and now they're saying
hey if anything we can't do we just YouTube it don't we if you get a new air fryer and
you don't know how to cook with it YouTube it somebody will be talking about it somewhere
- YouTube is the second largest search engine on the internet - That's awesome isn't it.
- Number 10. If you live in the tourist city be a tour guide we've been to so many cities where
they have these city walking tours that last for an hour an hour and a half and oftentimes we've
met retired people who are doing it and they know their city they've designed a really interesting
walk takes you to places you might not find as a tourist and you can charge whatever you want to,
but a lot of them do it for free and rely on the tips from the people who come along with them
- And you can usually tell them because they're normally holding like a really big bright
yellow or red umbrella aren't they, they stand out - Yeah and most of these are booked online
you meet at a central point people just show up and off you go, you get some exercise again
and maybe you're a bit of a history buff or you love the city you live in and it's a great way to
interact with people keep yourself active and keep your brain sharp so those are 10 ideas to create
income in retirement and we hope that was useful to you - Yeah because we certainly
have no shortage of things to do, do we Norm - We created ours with photography initially
where we get paid royalties for the photographs that are sold and then we went into video
we get passive income from video now we have a YouTube channel and the dividends and
all that sort of thing - Keeps us busy doesn't - It does, so thanks for watching we really appreciate
it - And we hope everybody is staying safe and keeping well - And until the next time bye bye, bye