In the United States, living on Social Security alone is somewhat possible if you have the maximum benefit. Otherwise, it could be quite the opposite. There are some retirees who do not reach the average benefit of $1,666 and that makes it difficult for them to pay all the bills. In this case it is better, then, to look for an alternative source of income to help you cope with all the payments you have to make per month.
These ways to get extra money don’t work for everyone, as some of them are specific. But surely more than one of these ideas can help you reach that figure that Social Security can’t cover on its own. Are you able to do any of them?
Ideas for extra Social Security income
These ideas involve working a bit after you retire, but it is possible to combine work and Social Security. Still, if you have any doubts about how many hours you can work and collect the benefit, call a specialist lawyer to avoid tax problems. Here is a list of these activities:
- Rent your garden for events: Do you have a garden? Then you have a source of income! You can rent it out for events and earn extra for Social Security. Depending on the size of your garden you will earn more or less money. It’s a quick and easy way to increase your monthly income.
- Rent out your extra room: In addition to the garden, you may have an extra room. There are many students or people with low Social Security who need a cheaper home. This is where renting out your unused room comes into play. This is a great option.
- Sell the things you don’t need: Look around your house. Chances are you’ll find a lot of items you don’t need that you can sell. In the used market you can probably get a good amount of money to supplement your Social Security.