Retirement doesn’t have to mean saying goodbye to paid work. In fact, many retirees find fulfillment and financial security in side hustles. Not only do these businesses provide supplemental income, they also offer opportunities for continued engagement, social interaction, and personal growth. From consulting and teaching to pet sitting and retail, the options are as diverse as the retirees themselves.
The best side hustles for retirees
There are many options available to retirees who want to pursue their passions while earning a little extra cash. Here are some of the best side hustle ideas to consider.
Pet Sitter
For animal-loving retirees, pet sitting can be a great way to earn some extra cash while enjoying the company of your furry friends, and flexible hours can fit around your schedule, allowing you to balance leisure time with work.
Delivery Driver
Being a delivery driver offers social interaction, the opportunity to explore different areas, and a flexible schedule. The job has few requirements, mainly a valid driver’s license and the ability to lift loads.
Tour guide
Being a tour guide can be a rewarding job, especially for those who are passionate about their local community. It allows you to stay active and foster social connections by sharing interesting facts about your city or town.
Freelance writer
Freelance writer is ideal for those who want to work from the comfort of their own home. There are plenty of options for retirees. You can work with newspapers, magazines, content agencies and take on a range of jobs including feature articles, reviews and website copy. You can also pitch to editors or be assigned articles by clients for their target audience.
teacher
Teaching experience allows you to pursue a career at a more leisurely pace: share your expertise remotely with students around the world through online instruction, provide valuable classroom support as a substitute teacher, or even find part-time work at a community college.
consultant
If you’re happy with your work, leverage your decades of experience to start a part-time consulting business. Leverage your professional network to build a client base of companies seeking your expertise. Consulting allows you to earn money at your own pace and schedule, all while staying connected to the business world and making a meaningful contribution.
Rent additional space
Renting out your spare space is a great way to earn passive income. Whether you have a spare room or an entire home that you’re not using, consider using online marketplaces like Airbnb or Vrbo (for short-term rentals) or Zillow or Craigslist (for long-term rentals) to connect with people looking to rent out their space.
Sell handmade goods
Retirees with a passion for arts and crafts can earn extra income by selling their handmade goods. Artists who enjoy the in-person connection Handmade Sell your creations at craft fairs. If you don’t want to travel and want to sell your products, you can also sell online. Start your online store with Shopify Or you can use a marketplace like Etsy.
Home and car repairs
Armed with the right equipment and skills, retirees can provide home and car repair services to people who don’t have the time or knowledge to make the repairs themselves.
Bookkeeper
As a bookkeeper, you can provide valuable financial services to small businesses and individuals who don’t need full-time support, and you can work from home, allowing you to maintain the work-life balance you desire.
photographer
Photography is a creative activity that allows you to capture special moments for potential clients. It could be a private event you find through your network, a portrait for a publication or a landscape for a company brochure. This side hustle gives you an outlet for exploration and social interaction and allows you to stay involved.
Gardener
Retirees who are good at gardening can offer gardening and landscaping services in their spare time. This side hustle can help you spend time outdoors, contribute to beautifying your community, and make some extra money while doing something you love.
House Sitter
House sitting is a flexible, low-stress side job for retirees. Looking after someone’s home while they’re away allows retirees to enjoy a change of pace and earn some extra cash. Duties might include watering plants, accepting mail and providing security.
Virtual Assistant
Ex-workers can provide remote support to businesses and individuals. This role includes tasks such as email management, scheduling, and customer service. Ex-workers can set their own hours and workload.
Retail Employee
Working in retail can be a flexible and fun side job. Retirees can work limited hours, connect with customers, and enjoy the camaraderie of coworkers. Plus, retail employees often receive discounts.
Tips for starting a side hustle after retirement
If you’re a retiree looking for part-time work, there are a few things to keep in mind before choosing a side hustle.
Consider your goals and skill sets
Before you jump at the first side hustle opportunity that comes your way, think about what you want to get out of your new part-time job. Whether you’re looking to earn extra income for retirement, live an active life, or pursue a passion, knowing your goals will help you decide which side hustle to choose.
If your main goal is to earn extra income to cover your living expenses, look for the most lucrative side hustle that utilizes an in-demand skill or asset. On the other hand, if you’re active and want to fill your free time, find a job that interests you – the extra income will be a bonus.
Don’t overcommit
When you find an exciting side hustle, it’s easy to get carried away. But as you approach retirement age, it’s also important to conserve time and energy to avoid burnout and stress. A job that’s more flexible and less demanding than a full-time job can help you maintain balance and enjoy retirement.
Understand the impact on Social Security benefits
If you earn a substantial amount from a side job, consider how it will affect your Social Security benefits. If you haven’t reached full retirement age (age 67 for those born after 1960), your monthly benefit will be reduced if you earn more than the annual limit ($22,320 for 2024). However, once you reach full retirement age, you can earn more without your benefits being reduced. For more information, see the Social Security Homepage. Social Security Administration website.
Frequently asked questions about side hustles for retirees
How can seniors make a little extra cash?
In this gig economy, there are many ways for retirees to earn an income, including pet sitting, freelance writing, consulting, renting out spare space, and more.
Is there a limit to how much money I can earn after retirement?
There’s no cap on how much you can earn in retirement, but if you haven’t reached full retirement age (67 for those born after 1960) and you earn more than the annual cap ($22,320 in 2024), it will affect your Social Security benefits.
What are the benefits of a side hustle for retirees?
A side hustle can boost income for retirees, but extra money isn’t the only benefit. Taking on flexible, part-time work can also help you stay active, connect with others, and feel fulfilled and purposeful.
