16 Ways to Get Your Side Hustle On During Retirement
Written by Christy Bowman
May 23, 2018 |
If you think retirement is about relaxing and never having to work again, you may be surprised with what you find once your get there. According to the Federal Reserve, over 33% of retirees eventually turn to some form of employment during their retirement, once the luster of not working has worn off. Humans are a species chained to the desire to make stuff happen, so although we occasionally pine for a simpler lifestyle, very often we revert to our normal selves and seek out employment opportunities.
In this article, I'll review 16 side hustles you can consider during your retirement.
1. Customer Shuttle
What could be better than driving brand new cars and talking with people just enough to ward off loneliness? If ever there was a profession tailor made for retirees, it is as the driver of a customer shuttle for a car dealership. When people take their car in for repairs, they usually need to be shuttled to and from work while the mechanic fixes things up. The driver takes them to work, which provides a quick, 10 minute opportunity for a conversation. After that, its driving time, and the driver gets to enjoy the return trip in a brand new dealership vehicle.
2. Join a Board of Directors
Although many Directors have a list of accomplishments as long as your arm, many Boards need the input of regular folks too. Larger cities often have Housing Committees and their Board of Directors need to be in touch with the desires of the community. Beyond public service boards, check out Mutual Insurance Companies, and even high tech start ups. You may not have domain skills in these areas, but Directors are all about governance: if you can help steer the ship, you might make an excellent Director.
3. Run for Office
If Donald Trump can do it at 70 years old, why shouldn't you? With a population of over 300 million and just 1 President, its not likely you'll get elected. But even if you aim your sights a little lower, public service might make a ton of sense. There are all kinds of elected public service positions available, and you just might find that in that role a passion gets ignited.
4. Become a Handyman or Contractor
If you were a weekend warrior when you were employed, you might have the chops to make it as a handyman or contractor. If you can handle the challenges of installing new floors, or replacing a toilet, you might be able to bring in some serious cash. Contractors are in steep demand and it might be due to the price of housing: home owners are skittish of DIY projects that could lower their home's resale value if they turn out badly. Instead, they are turning to professionals or those with proven experience in delivering exceptional results. As a retiree with these skills, you might make a perfect fit.
5. Box Office Agent
If you live near a theater - as in a live play theater - you might want to consider working as a part time box office agent. The role itself is perfect for retirees - the sporadic, and fairly low number of working hours are hard to make a full living on. But with your existing retirement savings or pension helping fund your lifestyle, this part time role might be just for you. And if you also happen to enjoy the theater, the discounts and access you'll get to the plays and actors will be impossible to match.
6. Freelance Writer
Granted, unlike most of these side hustles, freelance writing may not offer as consistent a level of pay. Some freelance gigs might pay well, and others might not pay very much. But you might find pay to be a secondary consideration if you enjoy researching a topic and assembling your findings in a well written article. And if all goes well, you might even consider setting up your own online magazine.
7. Use an Online Service
Sites like Etsy, Fiverr and even Ebay and Amazon all offer opportunities for you to sell products or services created and delivered by you. If you have a flair for arts and crafts that can be sold online, these sites will help make that process seamless.
8. Teaching
If you have assembled a lifetime of knowledge in specific field, you might be surprised to discover how valuable that knowledge is to a high school or community college. Many continuing education courses aimed at mature students are taught by retirees because a) retirees have a lot of knowledge in their former employment role and b) mature students can often relate better to a more mature teacher.
9. Tax Preparer
Working people hate filing their taxes. If you retired from a role as an accountant, you probably already have plans to do this. But it doesn't take an accountant to prepare someone's taxes for filing. Most tax filings are pretty simple, after you get the hang of it. And if you charge something reasonable - say $50-$100, you can be sure to have a long list of clients. Finally, since tax season typically takes only the first quarter of the year, you might find it the perfect way to balance your desire to work with your desire to relax.
10. Computer Programming
Similar to freelance writing and selling a service on Etsy or Fiverr, computer programmers are constantly in high demand. And if you happen to be a retiree who spent years working as a computer programmer in a language that is now considered legacy you might have hit the jackpot: companies are notorious for starting new projects in new programming languages without completely retrofitting old systems. That means they still need support and maintenance work done. With no one else to turn to, retirees often benefit.
11. Cook in a Restaurant
This one is pretty weird, but if you have the ability to cook, age shouldn't stop you: just ask Jacques Pepin! The downside to a suggestion like this is that those in this role are often subjected to tremendous stress and when you are in retirement mode, that may not be ideal. However, if things get overwhelming, you always have a fallback plan.
12. Painter
Much as contractors and handymen are in high demand, so too are painters. Painting is time consuming, smelly and messy, and most working people would rather do just about anything else with their free time. If you have the skills to be a painter you might find a lot of work in this side hustle.
13. Maid
After you've spent a lifetime cleaning up after everyone else, the appeal of becoming a maid in your retirement is probably pretty low. But that doesn't mean people are craving this service. Being retired might also work in your favor, as people tend to trust retirees. But do yourself a favor a get bonded to avoid conflicts.
14. Dog Walker
Why not combine your love of animals with your availability as a retiree. Most working people can manage to walk their dog before or after work, but who else but a retiree can afford to walk dogs during the day? And bonus: walking is exercise, you doing this effectively saves you time.
15. Photographer
There is no age limit on great photography. Its certainly more difficult to make money in photography now that smart phones have high definition cameras. But there will always be a need for event photographers for things like weddings, banquets and corporate events. As a retiree, you can get work by charging less than your local competition, while producing equivalent results.
16. Gardener
Everyone loves the look of a garden in their yard, but no one has the time to attend to it. In blazing hot summer days, you can assist by watering lawns and plants to help them stay lush. Your advanced knowledge of horticulture and how to grow healthy plants and vegetables will help set you apart from more expensive options like professional landscaping companies.
So there you have it: 16 ways to get your side hustle on during your retirement. Even if you think you won't ever need to work after you retire, you might want to keep this list handy...just in case you find yourself in need of an opportunity to build stuff or serve and interact with people. After all, with 33% of retirees returning to work, you might just find they're on to something.
Do you know of a good side hustle for retirees? Are you retired and considering a return to work?