When you’ve spent most of your life in the workforce, retirement sounds wonderful. You’ll have plenty of time to relax, you won’t have to deal with any toxic workplace cultures, and you can do the things you’ve always wanted to do.
But, the concept isn’t that easy for everyone.
Maybe you don’t have the money for new experiences like traveling. Or, maybe you do and you want to be able to see the world without worrying about your property at home.
No matter what your retirement “concerns” are, there could be a common solution – becoming an Airbnb host.
After suffering through the pandemic, people are ready to travel again so it’s the perfect time to offer a vacation property and set it up as a side job. But, it’s understandable that you might be hesitant.
So, let’s talk about some of the benefits of Airbnb hosting, and why it’s such a great retirement side job.
It Offers New Experiences
Far too often, retirees experience empty nest syndrome or loneliness. You might want to travel, but maybe you don’t have the financial means to be a jet-setter. Unfortunately, more than 35% of seniors regularly experience loneliness. It can lead to a variety of complications, including physical and mental health issues.
How can Airbnb hosting help?
For starters, it’s a great way to experience new things and meet new people. You could run into opportunities that you never would have before! Airbnb hosting allows you to let your personality shine. Even if you’re hosting in a section of your own home, you can make improvements to your property, decorate the way you see fit, and offer your guests something unique and special, like:
- A welcome basket/gift
- A local restaurant list
- The option for a guided tour of the community
- Passes to local attractions
You might find that you’ll see your community (or wherever your property is) from a new perspective when you have an Airbnb, especially if you give or create tours. You can research different attractions, restaurants, and specific sights. You might also develop friendships with certain guests, so you can stay in touch even when they aren’t in the area.
You don’t have to be a world traveler to have incredible experiences during retirement. If you’re looking for something new to do and people to meet, hosting can be a wonderful opportunity.
It Provides a Sense of Purpose
A lot changes when you retire. Whether you loved your job or not, it was still likely a big part of your identity. Without it, you might be wondering who you are and what your purpose is going to be. You probably don’t have young kids running around to take care of anymore, and aside from getting another job that causes you to start at the bottom, it can be overwhelming to think about what’s next.
Hosting an Airbnb can provide you with that sense of purpose. That’s especially true if you’re newly retired. It’s a great way to ease into your retirement, giving you something to do, something to care for, and something to manage.
Just because you’ve technically reached “retirement age”, that doesn’t mean you’re ready to slow down. Hosting an Airbnb will let you maintain your active, busy lifestyle as much as you want, and you can continue to grow and make your side job bigger, or keep it small and simple.
It Offers a Financial “Cushion”
Financial experts say that your retirement income should be about 80% of what you made when you were still in the workforce. Some of that income might come from social security benefits, a 401(k), or a pension. But, for some retirees, that still isn’t enough. Others might not receive retirement benefits from their former job.
If you don’t want to go back to work full-time or even take on a traditional part-time job, hosting an Airbnb is a fantastic “career change” that offers flexibility, allows you to be creative, and can offer a financial cushion so you can continue to live comfortably.
Look at your hosting gig as its own little business. You can invest in it through different marketing techniques, take quality photos on your phone to post on Airbnb’s website, and promote all of the wonderful features your guests can expect when they come for a visit. You can go beyond the Airbnb site, as well, and market your property by doing things like:
- Joining tourism websites
- Teaming up with a lifestyle or travel blogger
- Posting your property on social media
- Creating flyers
- Making special offers for your guests
From making extra money to meeting new people, to simply having a purposeful way to spend your retirement years, Airbnb hosting can be a lot of fun. Whether you already have a property or want to invest in one, it could be the perfect “side hustle” for many years to come.
Have you considered renting out your home or part of it as a vacation rental? Please leave a comment below.