When you retire, you may find that living expenses are higher than you expected. Even if you have an established budget, factors such as inflation and a fluctuating market could make it harder to cover monthly costs. In these cases, you may need to take a part-time job, or side hustle, to bring in additional income.
Side hustles typically offer flexible hours or the chance to work from home. You may enjoy the social interactions that come with the job environment too. If you are older than your full retirement age, you will be able to work as many hours as you want without impacting your Social Security benefits. For those who are not yet at full retirement age, there may be limits to the amount you can earn before your Social Security income is temporarily reduced.
Here are 12 side hustles that are a great fit for retirees:
— Customer representative
— Bookkeeper
— Pet sitter
— Virtual assistant
— Retail worker
— Collectible seller
— Event organizer
— Freelance writer
— Part-time consultant
— Health and wellness coach
— Remote tutor
— Gig economy worker
Customer Representative
Some companies in need of customer service representatives may be willing to accommodate the desire to work from home. Due to their years of experience, seniors often have top-notch personal skills. You could connect from the comfort of your kitchen table and handle questions from callers. If you can relate well to people and enjoy helping them, this could be a good side hustle.
Bookkeeper
Recording data and making sure payments are made on time could be a good retirement job for those who are detail-oriented. As you keep track of finances as a bookkeeper, you’ll have the chance to keep your brain engaged. Those who have already worked in this area have the skills to train newcomers for the role.
[How Long Will Your Retirement Savings Last]
Pet Sitter
For animal lovers, walking the neighborhood dogs every day or week makes for an enjoyable way to earn extra cash. The job would provide you with the opportunity to get outside and interact regularly with pets. Some jobs require looking after indoor pets such as house cats or birds for several weeks while a family is away. Sites like Rover, Pet Sitters International and DogVacay can help you get started.
Virtual Assistant
As businesses continue to embrace remote work, the demand for virtual assistants is on the rise. If you have administrative skills, you may be able to find part-time positions managing emails, scheduling and performing organizational tasks for small businesses.
Retail Worker
From helping customers find merchandise to stocking shelves and checking out customers, a job as a retail worker at a nearby store allows retirees to be social and physically active. Employee discounts are another perk of retail work that can help save money on food, electronics, clothing and other items on your shopping list.
Collectible Seller
Retirees with baseball cards from the past, antiques that have been in the family for generations or a shelf full of keepsakes might consider selling these objects on auction sites. “Retirees can earn a decent income by flipping items they find at thrift stores or garage sales,” said Elliott Kosmicki, a small business consultant in Waunakee, Wisconsin, in an email. “This not only provides a steady income but also keeps them active and engaged. I’ve seen people flip items for a 150% profit margin on platforms like eBay and Etsy.”
Event Organizer
For individuals who enjoy setting up activities, working as an event coordinator might be the perfect side hustle. This role often includes planning for parties, alumni gatherings, conferences or annual fairs. If you find an organization in need of part-time help, you could apply your creativity and organizational skills while connecting with others.
Freelance Writer
From local publications to alumni associations and community groups, there might be a chance to put your passion for grammar to use. If you enjoy writing, you could look for a part-time remote position to provide content for online publications. Companies often hire freelance writers to help prepare reports or review products.
[READ: Work-From-Home Jobs for Retirees.]
Part-Time Consultant
Retirees who worked in a specialized area may have expertise to share. Those interested in your niche might be willing to book a consultation or hours of training. Younger workers might appreciate the chance to build a relationship with someone who spent decades in the industry and has lessons to share. “From your favorite hobbies to your unique lifestyle, even your vocational experience, there is no shortage of topics that people are willing to pay for advice on,” says Lori Reeves, a success coach for solopreneurs based in Jackson, Tennessee.
Health and Wellness Coach
Perhaps you worked as a dietitian or fitness instructor during your career. You may enjoy coaching others and can often connect in person or via video conferences. Look online for any certifications you may need to stay current in your area of expertise.
[See: 19 Part-Time Retirement Jobs That Pay Well]
Remote Tutor
With the rise of online education platforms, you can share your knowledge with others by teaching courses. Websites like VIPKid and Tutor.com provide opportunities to teach students from the comfort of your home. Some retirees may prefer to offer one-on-one tutoring in person to local students.
Gig Economy Worker
If you love home improvements, you may be able to help others and earn a decent income while doing it. Apps like TaskRabbit and Thumbtack offer various gigs from handyman services to assembling furniture. These flexible jobs can be tailored to your schedule and physical abilities.
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12 Great Side Hustles for Retirees originally appeared on usnews.com
Update 06/14/24: This story was published at an earlier date and has been updated with new information.
