When it comes to making money in retirement, a lot of us seem to have a belief that it’s only the desperate who’re willing to make efforts to do so. However, this couldn’t be further from the truth. Celebrities all over the world have enjoyed the freedom retirement has brought them and many have found interesting new ways to make money in retirement.
To remind you that retirement doesn’t have to be the end (no matter your situation) we’ve developed this list of famous people who’ve made good money in retirement (and how!).
1. George Foreman
Former heavyweight boxing champ George Foreman struck gold when he launched his now-famous range of health grills back in 1994, during his retirement. When he retired for the second time in 1997, what seemed like a simple side hustle had developed into a hugely successful business. He made as much as $8 million a month in profits.
From there, he sold the naming rights for $138 million, earning a total of $200 million for the endorsement. Which, oddly enough, outdid the prize money he won during his boxing career… and then some!
His net worth now sits at around $300 million which is an amazing testament to how successful earning money in retirement really can be!
2. Dwayne ‘The Rock’ Johnson
Dwayne ‘The Rock’ Johnson’s has always been the classic rags to riches story – kicking off his career in 1996 with only $7 to his name. By the time he’d retired from full-time wrestling 8 years later, he’d made a lot of money. However, the real riches have come since, thanks to his successful movie career. He can now make more than $20 million per movie. Better yet? He also has a line of clothing with Under Armour, gaining around $15 million per year from this endeavour.
He’s living proof that starting from nowhere doesn’t mean you can’t achieve incredibly great things… especially in retirement.
3. Jessica Simpson
This former pop star has made millions from fashion since her music and movie career waned in the mid-2000s. Her clothing line, founded in 2005, was making $1 billion in annual sales when she sold her majority stake back in 2016. Since, she’s released her New York Times Bestseller, Open Book, which sold almost half a million copies in the first three months. Her network was estimated at $170 million then, but is likely to be considerably higher today.
4. Tony Hawk
Tony Hawk, professional skateboarder, retired from competition in 1999 and hasn’t looked back since. He was the first skater to perform a documented 900-degree trick and has since put his name to everything from amusement park rides to toys and video games. He’s a true marketing genius and his Tony Hawk video games series has made him millions. He now has a net worth rumoured to be around $100 million and this is only set to rise as remakes of his iconic games are still being released.
We like to think that Tony Hawk proves that a bit of marketing know-how can get you a long way…
5. Jack Nicklaus
Jack Nicklaus was dubbed ‘the Golden Bear’ and is regarded by many as the greatest golfer of all time. He enjoyed a rich career that spanned decades, winning a record 18 major championships and earning more than $5 million. He retired in 2005 and, though he had a string of endorsements waiting for him, he chose a different approach to make more money.
He has since banked millions in retirement. He earned $30 million in 2013 alone and has made most of his cash from commentating gigs, book deals, and a hugely successful golf course design firm, which has developed over 425 courses in more than 45 countries! He lives a more comfortable life nowadays thanks to his legendary status and investments. He’s made a total of around $1.15 billion thanks to his various career paths.
We look up to him as one of the legends of making money after retirement!
But it’s not just these 5… there are countless celebrities that have made their mark after retirement, exceeding their previous revenue at times. If you want more inspiration, we’d recommend searching the web for more celebrities who made it big in retirement, such as Michael Jordan and Phil Collins. But for now? We’d recommend taking stock of what these celebrities have created and considering how you can achieve the same
Because life really doesn’t have to end after retirement…