We could all use some extra money in our wallet. It doesn’t matter if you’re looking to add to your savings account, do a little more shopping or even plan your dream vacation. More older adults are using free time to pick up a side hustle, or an activity that acts as an extra stream of income. The COVID-19 pandemic forced the world to form new ways of doing business. It opened new opportunities, whether you want to work full-time, part-time, or occasionally. Now there are options to fit every stage of life. Here are 10 of the best side hustles for adults over 50.
Tutoring
One of the best side hustles to consider is tutoring. Most older adults have years of expertise in careers that transition perfectly into teaching a particular subject. Whether it’s mathematics, science, or teaching music lessons, you won’t need to go through an extensive training process to start tutoring. You also get the satisfaction of giving back to the world by helping a younger person learn something new.
You can find tutoring jobs on well-known sites, such as Indeed, SimplyHired, Care.com and more. However, there are also virtual sites like Tutors.com, VarsityTutors.com, and Skooli. You can even help students in foreign countries learn to speak English with sites like VIPKid.
Most tutors make anywhere from $10-$50 per hour and have the flexibility of choosing how much time they dedicate to work.
Transcribing
Are you looking for a side hustle that doesn’t require social interaction? After a hard-day’s work, you may prefer earning extra money without straining your brain. If so, consider being an online transcriptionist. This job simply requires listening to audio recordings and converting them into written form. All you need are typing skills, a good set of headphones, and a laptop. Sites like Rev , Transcription Outsourcing, TranscribeMe, and GoTranscript make it easy to get started. These roles are flexible and typically pay from 30 cents to $1 per video minute of work, depending on the project.
Selling crafts
For the creative makers of the world, you can set up an online shop to sell your crafts. If you like to knit clothes, create Christmas ornaments, paint, or even make jewelry, check out Etsy. You can spend a few hours per week filling orders for your creations and shipping them to your customers for an easy addition to your income that satisfies your passion for creativity.
Content Writing
Being a freelance content writer requires a creative mind and may also require some additional skills, but it’s a great way to fill your piggy bank. The obvious skills required for this work include experience and talent as a writer. But if writing is your thing, and you have a knack for storytelling, there are thousands of jobs being posted every day. Most sites require a writing sample before you get approved; but once you’re in, the sky is the limit. Check out sites like TextBroker , FlexJobs , Upwork, ProBlogger, and iWriter. Rates depend on the length of the articles written, but you can expect anywhere from $20-$50 per written piece.
Taking Surveys
Taking surveys may be one of the easiest options available. However, it also brings in the least amount of extra cash. Most companies pay anywhere from 10 cents up to $2 per survey, depending on the length and the number of questions. You can download apps to your phone like Google Opinion Rewards or Surveys On The Go. There also are browser-based survey groups to take on your laptop, including Survey Junkie, Swagbucks, or InboxDollars.
Caring for pets
For all the animal lovers out there, consider a side hustle in pet care. Thanks to companies like Wag, Rover, Fetch, and even Care.com, there are always plenty of jobs available to take care of our furry friends. People need everything from dog walkers to pet sitters and pet trainers. On average, dog walkers make between $10 and $15 an hour — not bad for getting to stretch your legs and enjoy the outdoors with a canine companion!
Ride-sharing
Widely considered one of the most popular side hustles in the so-called “gig economy, ride sharing is an easy way to turn your spare time into spare change. By downloading the Uber App or the Lyft App, you’ll pick up customers and shuttle them across town. These companies take a cut of your profits, of course, but you’ll still end up with anywhere from $5-$20 per trip, depending on the state where you live and the distance of the trip.
If you don’t want to be in the business of driving people around, you could deliver food with your car through DoorDash, Instacart and Postmates.
Renting your home
Did you know that you could get paid while you’re on vacation? The next time you’re out of town, consider renting your home to someone else. The two most popular sites to use for real-estate rentals are Airbnb and Vrbo, where you set your own rate. For those who don’t mind extra company, you can rent out extra space in your home while you are still living there.
Buying a vending machine
Most older adults have some extra money saved that is waiting to be turned into passive income. If you want to put your money to work, consider buying a vending machine. Expect to spend from $1,000 to several thousand dollars, depending on if you want a new or used machine and how many extra technical features you select. Once you have your machine, the most important step is picking a location. The more foot traffic the better. You’ll need to approach the business owner or landlord to get permission to place your vending machine on site. This usually means agreeing to share a percentage of your profits and might require paying for the electricity to run the machine. (Some communities may require permits.) Next, you need to properly stock your unit with cold beverages or snacks and ensure it always has the proper change for your customers. You can expect to earn anywhere from $30 to $100 every week from your vending machine, if it’s placed in the right spot. But remember, you’ll have to use some of that money to continue to buy the bags of chips or cold sodas.
Handyman
Thanks to websites like Nextdoor , Thumbtack, and SnagaJob, it’s never been easier to find odd jobs around your neighborhood. If you’re handy with tools, you can help your neighbors and make a few extra bucks. Some examples include: removing popcorn ceilings, putting up fences, replacing doors, painting, and changing locks. Just monitor the comments on the website you choose and pick which jobs you want to do.
Service industry and events
In addition to these 10 examples of side hustles, there are ample jobs waiting to be filled in the service industry. Many restaurants and bars are still struggling to find the staff they need since reopening amid the COVID-19 pandemic. Not only would you be adding some extra revenue to your savings account, you would be helping out an industry in need of workers.
And lastly, keep an eye out for special events that might arise. Most places are starting to once again host events, such as concerts, sporting events, and fairs.
