Allan Densmore: Little-Known Sources of Income for Retirees

As a retirement consultant with years of experience helping people plan for financial milestones, Allan Densmore knows how to maximize retirement income. He teaches his clients how to buy guaranteed income at a discount through secondary sources, a method of generating retirement funds that few people know how to execute. Allan Densmore also provides valuable tips on supplementing retirement income.

There are many other unusual sources of retirement income. Some retirees earn extra money by participating in a cottage industry, like backyard gardening or creating artisan scarves, ties, or other clothing. Others offset travel costs by working as camp hosts as they tour the country or taking on caretaker positions at historic sites or the homes of the wealthy. Still others take advantage of seasonal employment opportunities, like tax preparation, which, although insufficient to provide a conventional income, are ideal for supplementing retirement income. Other chances to generate extra income in retirement include serving on the boards of nonprofits, tutoring, and caregiving.