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They say that it’s easier to make a decent amount of money from several small enterprises than it is to make the same amount from a single venture. So how can people like us take advantage and increase our income after retirement?

The average retirement income in the UK, unless you’re one of the lucky ones, is too low for most people’s comfort. We’re all keen to generate extra retirement income but it’s hard to know where to start. Especially when we simply don’t have any more money to put aside. And when the cash that we’ve already invested is working as hard as it possibly can.

Sometimes the simple answer delivers the most exciting possibilities. At our age we’ve survived all manner of experiences, both personally and in our working lives. Most of us have brought up children. We’ve worked hard for other people or for ourselves. We’ve experienced a handful of booms and busts. We’ve enjoyed unusual hobbies. But how many of us have thought about using all this valuable experience to create extra retirement income?

How to boost your average retirement income

Here’s a short list to consider. Each of these activities - call them microbusinesses - could bring in a few pounds a week. Tackle two or three small enterprises and you could be on the way to a
retirement income that feels a lot healthier.

• Grow and sell your own vegetables. Locally grown produce is extremely popular and if you have green fingers you’ll be onto a winner. Or teach other people how to do it.
• The same goes for flowers. Cut flowers always make a lovely gesture and people like to support local growers of all shapes and sizes.
• Can you bake? Until recently home baking was a dying art. These days everyone wants to learn how. Make and sell your own goodies, offer to give private baking lessons, take special orders for parties and picnics…
• Do you have another traditional skill that might be back in demand? Knitting? Darning? Keeping hens? Many people want to reduce their impact on the planet. They might appreciate finding out how to ‘Make do and mend’.
• Can you use your professional experience to generate cash? Perhaps by providing accountancy and book keeping to local small businesses by the hour, or IT , or Human Resources? You might know Morris Minor, VW Beetle or Cortina engines inside out. Or classic motorbikes. Can you offer paid advice to your local garage or classic car club on an ‘as needed’ basis?
• Being able to deliver any useful skill on an ‘as needed’ basis can be a real asset, especially in a rocky economy.
• What about pet sitting? If you don’t have a pet of your own perhaps you can look after other people’s pets while they’re away. Providing totally trustworthy, one-on-one care for cats, small dogs, hamsters and goldfish in your own home.