As the milestone of retirement is approaching, it is reasonable to think about finances and how to improve the quality of life during the golden years. However, going back to school and starting a career from scratch can be time-consuming and not yield the results you wanted. Luckily, some side hustles can help you perceive extra incomes straight away.
Here are 30 ways to make extra money in your 50s:
- Teaching Online
- Selling Crafts
- Social Media
- Pet Sitter
- Personal Chef
- Mystery Shopper
- Personal Trainer
- Meditation Classes
- Tour Guide
- Party Planner
Below you can find out how to start earning money through these 30 side hustles. Read on!
If you have been a teacher all your life or you love working with learners, there is nothing better than becoming a tutor. Tutors can benefit from the same advantages as teachers, such as job satisfaction and feeling proud of their student’s success and achievements.
However, this alternative allows you to escape the stress related to facing a classroom, and you can instead set up one-to-one lessons with your pupils. This system has been seen to be beneficial for both teachers and students.
Ultimately, tutors benefit from high schedule flexibility, high hourly pay ($17.64), and the possibility to work from home. Another bonus of this job is that you won’t need to learn anything new if you are already a teacher. However, courses are available to help you develop further if needed.
2. Teaching Online
If you know another language, teaching online can be a source of steady income regardless of when you are available for lessons. Indeed, online English tutors have an international audience that allows them to find students even in the evenings and weekends.
To teach English as a second language online, you will only need to complete a short preparation course, such as TEFL. On the other hand, such tutors can make up to $40.00 an hour, depending on experience and subjects.
Becoming a blogger might involve having to learn how to design a website and how to write capturing content. However, if you have a story to tell, and you know what niche you would like to start your website in, many online tools can help you turn a passion project into a full-time job.
Having an understanding of SEO, Affiliate Links, Sponsored Content, and Copywriting can help you create a blog to monetize within a reasonable timeframe. Even in this case, you can expect freedom of schedule, the potential for unlimited income, and opportunities for progression.
However, before deciding to start a blog, you should keep into consideration that it can take months to see the first profits, and they might stay meager until your audience increases.
4. Selling Items on eBay
While this is not exactly a job, you can make a side income from the comfort of your home through eBay. Of course, on this platform, you can find second-hand items, join auctions, and buy clothes and jewelry for reduced prices. Selling extra items in your household that are no longer in use is an excellent way to see some returns.
However, you could also opt to turn this hobby into a side hustle and identify what the trends on eBay are and what potential buyers are searching for. In this way, you can get an understanding of how much you can make out of each item. Then you can search for articles to sell that comply with the moment’s trend.
5. Sell Your Crafts
Garage sales might not be as popular anymore, yet its online version is quite popular. However, if instead of selling off used items you prefer to make a living out of your creations, you could opt to sign up for platforms such as Etsy. Here, crafty entrepreneurs sell their products, varying from clothes, to pieces of furniture, to decorative items.
Since this is also an expanding platform and the competition can be fierce, make sure you find a particular niche before starting to produce your crafts. This niche can include sustainable materials, items created from recycled materials, or even handmade jewelry.
6. Become an Uber or Lyft Driver
Depending on your geographical location and availability, you can earn anything between $10 and $25 per hour by becoming a Lyft Driver or Uber Driver. Even if this does not seem too much compared to other high-paying hustles, everything you need is a car and time to spare.
One of the best characteristics of these tools is the ability to turn availability on and off as you need. This feature ensures that, if you are commuting, you can pick up a client on the way and make money while heading to work.
7. Become an Airbnb Host
Another giant of today’s Sharing Economy is Airbnb. This platform allows you to rent a room or a property to travelers and visitors and earn from it. Unlike traditional renting, the portal ensures maximum visibility, and you can set your rates or even change them along with the seasons and demand.
However, for this side hustle, you will need to be happy to interact with potential renters and understand that sometimes your property might remain free for months. In any case, becoming an Airbnb Host in advance allows you to make the most out of your available property and will enable you to enjoy increased finances at the end of the year.
8. Manage Social Media Platforms
While often considered a job for younger professionals, any tech-savvy happy to learn the ins and outs of this occupation can be highly in-demand. While full-time social media managers earn up to $50,661, you can just take up this side hustle as a part-time job.
However, if your client base expands, you might be able just to make this your primary source of income and carry on throughout retirement. Even in the case of this job, you can complete any task from a remote position and, generally, pick your schedule.
Freelancing is among the best ways to make extra money in your 50s without having to go back to school. Indeed, you can make the most out of your current knowledge and skills, just by offering your services to different clients. While in the beginning, it might be hard to find the right balance between workload and stable income, as your experience and reviews increase, you can discover better-paid projects.
To increase your visibility and client reach, make the most of online platforms and apps, such as UpWork and Fiverr. In both cases, you should be aware of the fees and commissions the platforms claim before setting your hourly rate.
10. Work as a Pet Sitter or Pet Walker
If you love working with pets and you are already taking care of a furry friend, put your experience to work after-hours and become a pet sitter. While you might have to follow the guidelines of owners regarding schedule and timetables, you can enjoy your daily walk in the park while perceiving an income.
Pay rates can vary depending on whether you are visiting, staying overnight, or only walking the dog. However, generally, a dog sitter can expect to receive anything between $13 and $30 per hour.
While this side job can have many associated responsibilities, an increasing number of working couples require the services of nannies and babysitters. You will be able to set your rates and offer an outline of your schedule beforehand.
To start finding clients, it is always a good idea to speak with friends and neighbors. Indeed, while you can find job ads on local websites and newspapers, babysitting for friends and family might help you increase your client base quicker.
12. Cleaning and Housekeeping
If you enjoy keeping your house tidy and clean, you could become a professional cleaner or housekeeper. Again, start by asking friends and family first, as this will help you cut short the process that includes interviews and probation period.
Aside from being able to set your availability, this job allows you to avoid adding extra stress to your life while perceiving an income. Even better, you can decide whether you prefer to work for privates or offices and public spaces. You should note that the physical effort involved should not be underestimated.
If you have a garden, you know how pleasant and relaxing gardening can be. If you have been enjoying this hobby while gaining experience along the way, it is now the right time to turn your passion into a side hustle.
Aside from being incredibly beneficial for your physical and mental health, this job is not highly demanding and presents low levels of stress. Gardeners can earn up to $25 per hour. However, this can depend on their experience and the complexity of the project. Such a high pay, as well as the ideal working condition for nature lovers, has made this job one of the most in-demand.
14. Create an Online Course
If due to physical, environmental, or responsibility-related reasons, you prefer to work from home, you don’t have to give up in looking for a side hustle. However, if you are not too sure how to employ your skills to start earning a steady income, you could decide to create an Online Course.
Today, such virtual products can help you earn a steady income if marketed properly. However, having your website to start with would be ideal. In any case, online courses can cover any subject about which you feel expert. Having specific certifications, however, can help you add authority to your piece of work and make it more accessible across your audience.
15. Become a Content or Technical Writer
If you have always loved writing, you can now turn this hobby into a side career. Indeed, while once writers had only limited options to perceive a steady income, today, the internet has opened a vast amount of opportunities.
If you are more of a creative writer that knows how to capture a reader, you should start applying to become a content writer. Oppositely, if you are highly knowledgeable on a specific subject, opt to become a better-paid technical writer.
In both cases, you can quickly complete all your tasks from the comfort of your home, just by investing in a laptop. While this side hustle can turn into a full-time job, you should note that at the beginning of your career, earnings might be meager. However, they will increase along with your portfolio and experience.
16. Write an eBook
If you have tried both of the above and you feel confident enough to write your book, finally, this is an excellent time. Thanks to self-publishing tools such as the one promoted by Amazon, you can finally see your name on the cover of a book without having to deal with publishers and high investments.
Your eBook can be technical training, a story, or even a novel. Since you will earn most of your books’ earnings, you can also start publishing series and turn this hobby into a full-time job.
17. Create an Audiobook
Creating an Audiobook is a valid alternative if you are not too much of a writer. Audiobooks sales have spiked in the last few years, gaining popularity that this industry has not seen before. Indeed, this sector is today worth over $1 billion in the U.S. alone. Along with podcasts, this is an alternative to see your story published and start earning straight away.
Alternatively, if you are narrating a story for another publisher, rates can vary depending on the quality and length of the book. In any case, you can do so in your spare time and follow your preferred timetable.
18. Create Videos and Tutorials
Independently from what your skills are and what you can do best, there is an increasing demand for tutorials and videos. Of course, you might have to gain an understanding of how youtube works, and having your website to publish the videos at first can help.
However, everything you need for this side hustle is a camera and skill you are happy to teach. You can also become quite inventive, and show others some of your recipes, cooking methods, or how to create jewelry at home.
19. Start to Work as a Personal Chef
If you have been working in the hospitality industry or a professional kitchen, the logical step to start making an income without having to return to school is to become a personal chef. While initially, these professionals were highly in demand among individuals with high levels of disposable incomes, the trend is changing, and more and more families and couples are happy to hire personal caterers.
Even in this field, the competition can be fierce, so it is a great idea to define what your niche is. Along these lines, designing a menu that fits this niche is essential to attract the slice of the market you want to work for.
20. Become a Mystery Shopper
Mystery Shoppers are professionals hired by a company, or a third party agent, to pretend they are actual customers and test the standards of an outlet. They can work in restaurants and bars, but they are also not uncommon in retail shops and supermarkets.
The task of a mystery shopper is to follow the guidelines indicated by the company. Then, they compile a 360° report of their experience at the outlet. While you won’t need any special certification to access these positions, experience in sales, customer service, or within the specific industry is appreciated. Pays vary depending on the assignment, but you can earn up to $15 per hour.
21. Become a Personal Trainer
If you are interested in health and fitness, or you are working in the sector, it is worth considering taking up a side hustle as a personal trainer. These professionals design specific guidelines and regimes for their clients to achieve the fitness goals they have in mind.
Within the range of duties, you might also need to create a nutritional plan or gym schedule. While it can take a while for you to rely on a solid customer base, and you will need to hold a license, personal trainers benefit from freedom of schedule and unlimited earning potential.
22. Lead Meditation Classes
The positive effects of meditation on mental and physical health have made this practice increasingly popular. In turn, the demand for meditation teachers has increased, making it a desirable side hustle for many adults. To start practicing, you will need a qualification in the field, yet, you can achieve one by undertaking an online course.
While the job itself does not guarantee high flexibility of schedule, it boasts other incredible benefits that are worth noting. Indeed, you will get the chance to practice meditation daily, which has been seen to help to increase productivity levels, reduce the symptoms of stress and anxiety, and improve general wellbeing.
23. Write Resumes
If you have been through various job interviews successfully and you have redesigned your CV multiple times, you now have a grasp of how to do so to make a candidate stand out. To turn such a valuable skill into a profitable side hustle, start by taking a course online and become more knowledgeable about the subject. Then, leverage the power of platforms such as LinkedIn to advertise your skills and start selling your services!
24. Become a Tour Guide
Do you love history and art, and you are also very knowledgeable about your city? There is no better side hustle for you than becoming a local tour guide. Indeed, most towns and touristy areas today promote free walking tours in which the guide receives the majority of the tips donated by the participants.
Becoming a tour guide is an excellent option if you are looking for a way to make weekends and holidays profitable. Some of the associated benefits with this hobby include time in the open and opportunities for exercise and learning.
25. Sell Your Photos
Unfortunately, there is only a thin percentage of professional photographers that have become highly successful. However, this percentage has been increasing with the advent of social media platforms such as Instagram and Pinterest.
However, if you don’t consider yourself a professional, yet your shots are valuable, you can use portals such as Shutterstock to start earning popularity and visibility. With those, it is likely for you to start perceiving the first incomes.
26. Alteration Services
Sewing, stitching, and clothes’ altering services are not as common today as they once were. Indeed, the majority of items we buy tend to be cheap enough for us to replace them once they are obsolete or unsuitable.
Yet, the lack of professionals in the sector has made the services of tailors even more in-demand. If you are confident around a sewing machine and you feel confident with thread and needle, start advertising your skills!
If you are confident or fluent in a second language, translation services are always in demand. An increasing number of companies have to become accessible by different nationalities to stay competitive. In turn, the services of a professional translator are essential for the task. This job can include document translation and work directly in the department of a business.
However, similarly to many other jobs, today, there are options to make the most out of this skill through online platforms such as BeTranslated. If you opt for this alternative, you will be able to complete the tasks assigned to you – and earn – from your home.
28. Party Planner
Organizational and planning skills are essential for this side hustle. However, if you have always loved to organize parties and gatherings – privately or professionally – you could start advertising your services among friends and neighbors.
While this can limit your audience at first, it is a great way to test the waters before undertaking a formal qualification. Once you have done so, however, you can create a portfolio and an online presence and sell your services to a broader market.
29. Online Surveys
Due to the increasing importance of data and statistics for companies and public bodies, the number of websites that are willing to pay for you to complete surveys is increasing. Among those, today, you can find Swagbucks and Branded Surveys. Earnings might not be substantial or steady, yet you can achieve these easy tasks during your spare time.
30. Food Delivery and Rideshare
If you are looking for an occupation that can help you make the most of evenings and weekends, food delivery for local restaurants in your town, as well as rideshare, can help you perceive a side income. Websites such as Glovo or Foodpanda help streamline this process, so you can start enjoying your earnings from day one.
Why Finding a Side Hustle in Your 50s?
As you approach retirement, finances start to become an essential factor that can determine the quality of your life after you leave your career behind. In many cases, older professionals decide to take the leap and go back to school. This decision can yield incredible benefits both from a professional and a personal point of view.
However, such a choice can require a commitment related to time, investment, and effort. And, often, returning to college becomes a not-so-viable solution, especially if you are already juggling pre-existent duties such as children or a full-time job.
Moreover, with the expansion of the FIRE (Financial Independence, Retire Early) movement, an increasing number of adults focus on finding alternative solutions to increase incomes and reduce expenses.
Luckily, due to the technology and innovations that are available today, there is a higher choice of side hustles and occupations that can improve your financial prospects for the future. These won’t usually require to leave your current job behind or go back to school while being highly effective.
Ultimately, however, you will need to leverage the power of technology, social media platforms, and apps to increase the audience of your project and increase profits. It is not uncommon to hear of 50-years-old and more mature professionals who decide to retire early and pursue this side occupation as it becomes more profitable.
Other benefits of this choice over picking a traditional part-time job include:
- The high flexibility of the schedule
- Potential for unlimited income
- Higher job satisfaction
- You can keep your side hustle after retirement
- It can agree with your passions and preferences
- You can change hustle if you are not able to continue working
- Require a lower investment compared to the one of starting a business
It is not uncommon for many professionals above the age of 50 to look for a second job or side hustle. While going back to school might not be a viable option, today the technological advancements have opened up a multitude of opportunities for anybody.
Of course, most of these occupations might need you to embrace a relatively steep learning curve at first, but they can also result in highly-satisfying and rewarding professions. Just make sure to pick the one that reflects your schedule, needs, and preferences best before starting!
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- Payscale: Average Tutor Hourly Pay
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- Payscale: Average Social Media Manager Salary
- Payscale: Average Dog Sitter Hourly Pay
- Psychology Today: 10 Mental Health Benefits of Gardening
- Payscale: Average Gardener Hourly Pay
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- Publishing perspectives: Audio Publishers Association Survey: Nearly $1 Billion in 2018 US Sales
- Evolution of Personal Chef
- The balance Small Business: FAQs About Mystery Shoppers And Mystery Shopping
- Europe PMC: Review of the effects of mindfulness meditation on mental and physical health and its mechanisms of action
- Ameritrade: 2019 Retirement Pulse Survey Catching up on retirement savings
- Wikipedia: FIRE Movement