It is good to hear others have the same dilemma. Most days, I am also an "investor". If I have to elaborate, I say "I work with short-term speculative investments." Usually I can get the subject changed at that point but from time to time I have to elaborate or risk appearing stand-off-ish.
Not too long ago I was in a blue-collar type local bar and someone was being extra inquisitive. I indicated I primarily trade commodities figuring it was well over his head. You wouldn't know by looking at this guy, but he did nothing but trade commodities on his own account for a living a couple years back. In spite of attempts to change the subject, this guy wanted to do nothing but talk commodities for the next hour. (What broker, what goods, shorts, longs, hedges,......) It was pure hell b/c Ithe only thing I know about commodities is how to spell it....and I am not even sure if I did that right.
Anyway, I also sometimes say "retired", "semi-retired", "investment consulting". I am only 25 so the retired bit usually leads to more questions rather than less. But it is fun to see people's expressions. And I kind of like the sense of mystery it creates and the speculation. Some people think I am a drug dealer or CIA agent. I have been travelling internationally quite a bit lately and have been meeting many new people. I feel a little more free to discuss the true nature of my income when I am gone. Most people seem to believe me and are actually impressed and intrigued.