Relocate!

Relocating to another city or state will not necessarily count as alternative income, but it can have the same effect as picking up a side gig. Think about it like this: the moment you relocate, you will do it for a certain reason, such as paying less for rent or utilities, lowering the taxes you may have to pay on your retirement income or even Social Security benefits, or any other reason you may have, such as the weather or being closer to your kids.

However, by relocating, you will be paying close attention to where you will be going and how much you will have to pay for both housing and utilities, as well as entertainment, food, and transportation. By moving somewhere where you can cut down on some of these costs, the money you would have spent on these things ends up remaining in your pocket, which does count as an alternative income. Instead of spending that money, you can use it towards something else or just continue saving it until you need it.

If you cannot get by even with the help of Social Security benefits and other alternative incomes, relocating may be the solution for you. Not to mention, a lot of retirees have done this and thus generated thousands in “alternative income” due to making such a move.