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How To Boost Your Average Retirement Income

Today’s Average Retirement Income Stats


Every year the average retirement income reduces for those in countries where a pension is actually offered. People are becoming less well off while the over 65-year old population worldwide is growing … and living longer.

In Sweden 20% of the 10 million population is over 65 now and this is expected to grow to 23% by 2040. On average Swedes live to ripe age 81. In Japan a quarter (25%) of the citizens are over 65 today and by 2050, that figure will rise to 33%. Over 12.5% are 75 and over and Japan has the most advanced over-retirement-age research in the world.

Average Annual  Retirement Income – 2017


In Canada, recent research estimated a comfortable, annual average retirement income for a couple to be $100,000 – (US US$8333; UK £ 6410 per month). Sounds like a lot? Remember the additional costs of aging :-

  • increased healthcare costs
  • increased assisted living costs
  • inflationary costs

Retirement Payouts in Different  Countries


We had a look at average retirement income payments (per annum) in some countries to see if they measured up and to get an idea of what additional amounts we would need to earn. This is what we found. If you have more recent figures, send them in!

Saving for retirement? Planning a dream trip? Hosting on Airbnb can help you fund your next adventure. Get started today! 

USA:      US $17,000 ( £13,227)

BDOS:   US $20000 ( £15037)…includes National insurance and pension

UK:        US$ 25,703 (£20,000)

CAN:     US$40,000 (£31,125)

SWED: US$ 15000+++ (£11,671)

Two Options To Boost Average Retirement Income


Here are two ways to increase income. There are other methods, but these two methods are very popular…and work!

A :- Use the extra space in your home or property to create rentals which can provide a very adequate income.


It will all depend on your individual space but converting or re-designing a room in your empty nest into a rental can provide a big boost in income. Airbnb is a great option where there is a need for a rental spaces and, at the Airbnb rates (which areas more competitive than hotels), student areas, business areas, touristy areas work well for hosts. And it is fairly easy to set up an Airbnb rental and maintain it from home.

Here, we will show how easy it is to boost your retirement income by using your spare space.

Airbnb’s  Easy Offers


Airbnb only takes the commitment to keeping your rental areas clean and inviting.
  • Airbnb offer full $1,000,000 insurance cover for rental spaces
  • Airbnb handles all payments from customers so the host-owner never deals with cash (unlike other listing companies)
  • Airbnb pays the owners and manages their own commissions, taking pressure off the hosts and guests.
  • Boost your income with ease and security. When you share your space on Airbnb, you’re covered by our $1 Million Host Guarantee.

    •  Online calendars and a website listing for your place is provided – and Airbnb sends you booking alerts!
    • You can even be paid for encouraging people to use Airbnb even if its not your own location!
    • Airbnb support hosts with information, tutorials and ideas!

    Click To See How Much you Could Earn


    B:- Write or video post about your passions on the web and earn $$


    If being friendly and welcoming is not your thing you can also make good money letting people know about your passions on the web either by writing (blogs or articles) or by creating your own videos very simply. As a retiree, you have a lifetime of knowledge someone wants to have!

    Develop your own authority site that has your special touch on your favourite interests and hobbies and link your preferred products to make money. Many companies will pay you for your endorsements! This has been a growing method of boosting income and can be done anywhere, making it very flexible! Topics such as:

    • Travel locations
    • Cooking
    • Self help topics
    • the environment
    • DIY

    … the list is endless!



    RELATED: Where’s the Money? [Do This for a Better Than Average Retirement Income]

    BUT…not a lot of people get it although lots of people try.


    How to Get Started

    Once you learn the simple system of how to post online (see the program I used below ) money can be made. There are several training programs available online but don’t get me wrong…it takes time and practice.  Anywhere from approximately 1 – 4 months of solid work will nurture you into becoming a fully fledged online marketer/authority and you can receive recurring income ( the amount varies on you!)! I even know people who left their jobs to do blogging full time! Here are some more facts about the training program I used:

    1. Training is bite sized, written and also on video, and task based (you create your authority website while you learn)

    2. You get FREE training for about 1/3rd of the course, allowing you to decide whether you want to move forward with the rest of training. Right now there is even huge discounts off membership!

    3. FREE training includes multiple FREE excellent web tools semi-automated for your creations which are very valuable and save loads of money, time and frustration when building your website.

    4. You have a community of friends who help you out online

    5. You have millions of subject matter choices to use which can all provide income.

    6. If you can’t think about anything to video or write about the company provide training in a subject for you to earn money!

    7. Most importantly, it is LEGAL and not a weird scam.

    What will You Do with Your Extra Income?

    I think after working a lifetime, we need to be prepare for retirement by increasing money to buffer out pensions. In many cases create out pensions! Hopefully these two options will give you food for thought on how to boost your retirement income.

    If any of you have founds ways to increase your retirement income, drop us a line. We do not use your information as you can see from out privacy notice. It would be great to hear what methods you have thought of! Were you able to add to your income and what did you do? Have you started a little Airbnb or YouTube channel?

    Travel. Retirement. Home improvements. What would you do with the extra money you could earn hosting on Airbnb? Get started today!

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    15 comments

    1. We updated pension rates for Barbados after we received an email on recent changes made by the change of government. Rates are based on working income levels over a lifetime.

      Let us know if you have up-to-date information too so we can update!

    2. Wow, this is interesting. I wouldn’t have thought of using Air B&B to rent out homes while away. It always seems like something younger folks would do. This idea might make a huge difference for retirees who otherwise wouldn’t be able to vacation. The information about retirement pensions is interesting too. Thanks for writing this article.

      1. Welcome Dee! All the more reason to look at reirement income boosts. Airbnb rentals is one form.
        For those who are not keen on doing this sort of work, maybe writing or creating blogs is another. I learnt how to build blogs via step by step Wealthy Affiliate.

        For some retirees, sharing their immense knowledge is also a great way to earn, although it takes time to build income!

    3. Thanks for sharing this informational post. My father has been using Airbnb for the past 5 years and he’s still enjoying doing business with them. It’s actually a good way to make money renting out our guest rooms and extension on weekend basis. Sometimes I feel like I will soon go into renting out my guest rooms too and make some extra cash on every weekend.

      1. It’s great to hear that your Dad does this. I think it keeps retirement age people active and a life with purpose…not to mention income!! And as mentioned on my site, my younger sister-in -law changed her income via Airbnb!

    4. My friend, this is amazing. I knew about writing blogs, but I had no idea about Airbnb. In fact, I’ve never heard of it before just now. I think it is a very good idea to try.

      Do you know if this is  international or just in some countries? I would love to take a little more in depth look at this. 

      1. Airbnb is EVERYWHERE!  Some locations pay very well!

         It’s awesome as you can rent out even shacks!  In locations with lots of exhibitions and conferences, tourist attractions and universities… even extra bedrooms can rent! (Minimum effort withAirbnb insurance ….!) Of course, it boils down to your work in keeping your guests happy!

         My sister-in-law is booked up to 6 months in advance…that’s 6 months guarteed income. She ent fromunemployedand ill tonew leaseon life and self employed 5 star host.If I had my own place i would do it too!

        To get more info on how to sign-up and earn just click on one of the links in my post!

    5. Hi; your post have awaken some thoughts for concern. Retirement is something that all people should be concern about. As those days will be on the down side of our lives when working strength is less powerful, than earlier years of our lives. 

      Inflation keeps rising. without a retirement plan in place, persons could find themselves depending on handout during their later years. It would be unplasant for those who have independent all their lives.

       The two income ideas that you have listed are sound advices to consider. Thanks much for your helpful awakening.

      DorcasW

      1. Yup…necessity…mother of research!! Lol. It all started looking at elderly incomes in the UK…even with government pensions, people really struggle…when they should be enjoying life!

        A lot of retirees are wonderful people and ideal as Airbnb hosts as they are often around and many own homes which are empty nests. Converting rooms in your home to Airbnb’s is not difficult and can be great ways to earn extra income. 

        Check out my other articles about creating an Airbnb! And soon more on Wealthy Affiliate . But some of our comments can guide you on Wealthy Affiliate until I post!

    6. This is a superb article about income for retirement.

      I read recently that more retired US citizens are seeking work again as a lot are bored and also cannot afford to not work.

      It is shocking to see senior citizens in Singapore and Hong Kong working way into their 70’s because it is too expensive to retire.

      I recently did a calculation based on spending of $50 a day. this would cover my present basic costs of housing, essential utilities, food, etc.

      That would be $1,500 a month…

      or $18,000  a year…

      Assuming I retire at 65 and live to 85 I would need a staggering $360,000 in the bank to just live a basic lifestyle.

      If you don’t have that you are in trouble.

      That doesn’t include having fun, travel, emergencies or any thing else.

      So your article clearly is correct…

      We need more money!

      It is great to see your ideas with Airbnb and also Wealthy Affiliate.

      Both are a great way to create more.

      And who doesn’t want more?

      Good job!

      Tim

      1. Hey Tim, I so agree! Love your research about the retirement income! I think Wealthy Affiliate is a great too as they train step by step. Earning may take a little longer but it all costs less to set up for many. 

        I have elderly family members who love to write and others who are great public speakers…so Wealthy Affiliate would work for them.

        Thanks for your input! 

    7. I was wondering if Booking or AirBnb is better? I have heard about both of them but can’t decide which is better to start with although AirBnb sounds more popular choice to me. For Blogs and Videos, what are the sources of income other than trainings? I have read that blogs can earn through advertisements. Thank you!

      1. Both are good but they are quite different.

        Both have wide wide networks.

        Booking.com also covers hotels, while Airbnb has a larger reach with private homeowners.

        With booking.com there is more flexibility in what you may wish to charge but you collect the cash after the stay…which is Ok untilyou have the occasional problematic guest (there are always a couple!) You can report to Booking.com who will investigate quickly.

        Airbnb handle the money..so you don’t have to monitor if and when people leave. Andyou don’t have to ask for money. You can focus on service and Airbnb pay straight to you. I love that. I love their booking calendar and little website system for your place. Just clickonthe links to get more details from Airbnb. And the great insurance cover for  property! Booking .com has  different methods for protecting you…which will be in future article.

        Thanks for stopping by!

    8. I was wondering if Booking or AirBnb is better? I have heard about both of them but can’t decide which is better to start with although AirBnb sounds more popular choice to me. For Blogs and Videos, what are the sources of income other than trainings? I have read that blogs can earn through advertisements. Thank you!

      1. Both Airbnb and booking .com have their benefits. Airbnb manages all
        your income. Booking.com lets you manage it, for example. Airbnb provides you insurance while Booking.com and Airbnb will support you with personnel to manage guest complaints.

        And for blogging you can write about any subject under the sun but remember if you want to earn money , you need to promote things that sell online.

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