Could An Income Stream Run Right Through Your Home?

August 20, 2020

Millions of Americans are working from home these days, and you may be one of them. You also may be pleasantly surprised to learn just how much you might be able to earn working from home part time in retirement.

Recently, U.S. News noted 11 jobs that can be performed from home, all of which could provide a nice income boost for those seeking to supplement Social Security retirement benefits. Consulting and coaching come to mind, of course, but have you considered options such as appliance repair and transcribing? The pay is usually in the $15-20 per hour range for bookkeepers, customer service representatives, teachers, transcriptions, and virtual assistants (i.e., remote executive assistants) who work from home, but some virtual assistants with top-flight social media or coding skills earn in the $50-75 per hour range. For freelance writers and proofreaders, $30 per hour is typical, and the fee rises with experience, especially experience in a particular field. Workplace and management consultants currently earn a median pay of more than $40 per hour. Any part-time work you take in retirement, of course, must be considered with regards to its potential impact on your Social Security benefits and tax picture.²