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Posted on Sep 2020 in Your Money

Side gigs for retirees: how to make a little extra cash

You may be retired and no longer responsible for getting up at the crack of dawn, slurping down a scalding cup of coffee and scurrying out the door to get to work, but that doesn’t mean you can’t make some extra money doing something you enjoy to supplement your retirement income.

The best thing about a side gig during retirement is that depending on what you choose to do, you get to call the shots. You’re your own boss now, after all. You can set your hours, decide how much income you hope to bring in and work as much or as little as you want.

You may already have an idea in mind, but in case you’d like some inspiration, check out this list of ideas:

  • Dog sitting (or dog walking), baby sitting or house sitting. Helping out your friends and neighbors, and maybe even getting in a bit of exercise in the process, makes these jobs rewarding for both you and your clients.
  • Tutoring. This is a wonderful way for retired teachers to make some extra income, but anyone who has a particular affinity for subjects like math and languages can offer their services to students. Helping out young people is a worthwhile way to spend your time, and tutoring can be done virtually to adhere to social distancing directives.
  • Blogging. If you have something to say, and people are interested in reading it, you can make money writing a blog. A blog relies on traffic to make money though, so you have to make sure yours is compelling. Visit 30 Day Blog Challenge for tips on how to make money with your blog.
  • Filling out online surveys. You have to be careful with this one to make sure the sites you’re using are legitimate and that you are mindful of protecting your privacy and security. But once you know it’s safe, it can fun to provide feedback on new products and services, and to know that your opinions might impact the way they are ultimately rolled out to the general public. Visit Survey Cool for the top 23 paid survey sites.
  • Becoming a butler. We’re not talking about the tuxedo and tails butlers you see in the movies (although if that’s something you aspire to, go for it!). We mean becoming a private home assistant who does tasks and errands for a fee, like picking up groceries, doing some meal prep and picking up dry cleaning. It’s a great way to help you stay active and social while making some extra money. For more information on the kinds of jobs private home assistants might do, visit Staffing At Tiffanie’s.
  • Selling what you make. If you love to paint, knit, or throw pottery, there may be a market for the things you create. You might sell your wares on sites like Etsy.com, or check out in-person craft markets and art shows in your area. For tips on how to sell your homemade stuff, visit Lifehacker.
  • Reviewing products online. This is similar to a blog in some ways, and also relies on traffic and affiliate marketing and advertising. Essentially you write informative, in-depth product reviews to help people decide what items to purchase. For more information on creating a review website, visit greenice. You might also do your product reviews on YouTube.

Before embarking on any of these endeavors, you’ll want to do your research to make sure that you have the required certifications, insurance, police checks and licenses sorted out before offering your services. Check into local requirements for services like dog sitting, house sitting and babysitting to ensure that you have the right liability insurance, for example.

To read more, visit CNBC and Sixty & me for more creative side gigs you can start in retirement.

SOURCES

1, 2 https://www.payscale.com/research/US/Job=Dog_Sitter/Hourly_Rate

417959B CAN/US 09/20

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