12 Most Profitable Side Gigs for People Over 50

You might think side jobs were specifically created for millennials.  With at least one additional job to boost their income, apart from their main job, millennials aged 23 to 38, seem to be the age group that makes the most of this opportunity.

However, there are other age groups that discovered the perks of having a side hustle and are just as eager and determined to pick up extra work on the side. Whether it’s to supplement their main income get rid of the 9 to 5 routine or cash in on a hobby, baby boomers, aged 55 to 73, are also part of the game now more than ever.

If you also want to earn more money and boost your income, read on to discover which side jobs are the most profitable and can help you achieve your financial goals.

 

Life Coach

  • Pay: $31.89 per hour

A life coach is someone who can help you make, meet and exceed goals in both your personal and professional life. People seek the advice and assistance of life coaches to tap into their full potential. If you have plenty of life and work experience under your belt, then don’t hesitate to share it with others and help them make major transitions in life.

There are cases when people are already aware of their sense of life and all they need is to become accountable in achieving it. Other times, they might simply need to have their purpose defined and get a push in the right direction.

Being a life coach gives you the opportunity and instruments to help others achieve the goals they have identified and defined, with your assistance, through facilitating useful exercises and holding the client responsible for developing an actionable plan and taking the necessary steps to change their life.

 

Tutor

  • Pay: $17.45 per hour

If you’ve worked as a teacher, chances are you’ve already considered and maybe even had a side job as a tutor to boost your income. The good thing about tutoring is that you don’t necessarily need to have a teaching background to be an online tutor. As long as you’re proficient and expert on your subject matter, you can easily help others learn it as best as possible. Another major perk of tutoring is that you can either register with a service or do things on your own and make it a natural fit.

If you opt to register with a service, you may have access to an already-made client list. The downside is that your earnings will be limited to what the service allows you to earn, as well as to a limited number of hours. If you choose to go on your own, however, you can set your own hours and fees. It might be more difficult at first to gather your tutees but once you manage that, things will go smoothly.

 

Pet Sitter

  • Pay: $13.30 per hour

If you like animals and always dreamed of having many around the house, being a pet sitter is the perfect opportunity to make your dreams come true while earning some extra money in the process. Pet sitting is flexible, fun and can be done on your territory, meaning at your home, or at the owner’s home. It’s also less time-consuming than other side jobs, which means once you’ve responded to the needs of your furry friend, you’ll have plenty of time to do other things for a while, still earning extra money.

One of the best advantages of pet sitting is that you get to control where and when you pet sit. There are also several services where you can sign up as a pet sitter, including Rover, Fetch and Care.com. To make sure you chose what works best for you and your lifestyle, check out each service and compare the pay. And if you want to earn even more money, consider registering to be a dog walker, too.

 

Travel Agent

  • Pay: $18.62 per hour, according to the Bureau of Labor Statistics

According to the Bureau of Labor Statistics, the demand for travel agents through 2028 will decrease due to people making their reservations through the internet. But don’t let this prediction deter you from the chance of adding some extra money to your income.

You could become a travel agent specialized in planning group trips as a side hustle. For instance, you could open your own booking agency and help people over 50 plan and book trips such as river cruises or other popular destinations.

What’s more, you don’t even need to obtain a license or certification to be a travel agent. However, if you want to increase your credibility and attract more customers, a license or certification will surely come in handy. On the other hand, if you choose to open an agency, you will require the approval of different travel and transportation agencies. A good thing is that you’ll be able to set the hours and prices for your services.

 

Rental Host

  • Pay: Dynamic

There are many reasons why people rent their homes. Maybe they have an extra room they don’t mind sharing with strangers in exchange for money or maybe they are required to travel a lot and their homes are constantly unoccupied. There’s nothing wrong with cashing in on available space, is it?

If you’re also in a similar situation, renting out a room or even your entire house to various people, either for the weekend or for an entire week, can turn into a profitable side hustle that can bring you a recurring income on a monthly basis. If you’re not sure how much you should ask for your private room or the entire home, you can turn to online calculators from online home rental marketplaces Airbnb or VBRO.

In addition, on platforms such as Peerspace or Thisopenspace, you can rent your home by the hour if you don’t fancy strangers staying overnight.

 

Local Tour Guide

  • Pay: $12.78 per hour

If you love your city and want to help others discover its beautiful and interesting attractions, if you have the advantage of living in a popular city or other tourist destination, you could turn this geographical advantage into a financial one by taking on a side job as a local tour guide.

To get an idea of what a local tour guide means, business-wise, consider signing up as a guide with tour-booking platforms, like TourByLocal, or host experiences on Airbnb. If sharing your earnings is not what you want, you can also start a tour service in your own, as long as you know all the implications, financial, legal and otherwise.

To make sure you stand out from the crowd and leave your own mark, research what other tour guides have to offer and make your tour sound more attractive and interesting. For instance, if another tour guide provides a generic-sounding walking ghost tour, you could come up with a walking ghost tour of the 10 most haunted places in the area. And if you want to make things even more interesting and entertaining, dress in a costume to match the tour’s theme.

 

Notary Signing Agent

  • Pay: $32.25 per hour

The American Signing Agents Association defines the signing agent as, “A signing agent is a trusted professional, usually a state-commissioned notary public, that performs the closing ceremony for real estate transactions, mortgage loan transactions, legal process transactions and other similar transactions where an independent third party is requested. A signing agent should ensure that they are disinterested in the transaction and have a mutual obligation to all parties to remain objective, neutral to any position.”

In other words, if you want to make some money in your 50s, facilitating loan closings for mortgage finance companies could be a very lucrative opportunity. The first step in becoming a notary signing agent is to become a notary. If you’re familiar with loan documents, you can have an even bigger advantage in getting this side gig. If not, you can also go to training courses and learn about a notary signing agent’s duties and loan documents.

In order to get as many jobs as you want, you should join signing agent databases and list your services there. Also, do your research and find out if your state allows notary signing agents to help close loans. Some states do not allow this at all or might have certain restrictions.

 

Retail Arbitrage

  • Pay: Dynamic

If you want to boost your income by choosing retail arbitrage as your side hustle, you’ll be surprised to discover that the world is your oyster. In other words, if you have the financial means to invest upfront, your business will bloom faster than you could say Jack Robinson.

Sure, you’ll need to learn how to capitalize and make a profit on things that sell fairly quickly. But since when has learning ever stopped you from making money?

What you should also know about retail arbitrage is that it involves going to stores such as Big Lots, Burlington, Target, Trader Joe’s, Walmart, Marshalls, Ross and TJ Maxx, and purchasing discounted products which you can resell online. For the online sell, you can choose from plenty of options such as  Craigslist, eBay or Facebook marketplace, or you can try Fulfillment by Amazon.

The items can be sent to Amazon which takes care of storing, picking and delivering them to your customers. However, these services don’t come for free, so you’ll need to decide if it’s all worth it.

 

Wash-and-Fold Laundry Service

  • Pay: $20 per bag of processed laundry

We’re living in hectic times, when even the simplest of chores, such as laundry, become a complete and utter drag. That’s why some people are more than happy to outsource such tasks and get some pressure off their shoulders.

So why not capitalize on that? Especially if you live in an area where potential clients can easily drop and pick up their laundry from your place.

On the other hand, if your home is not located in an accessible area or you want some help getting started, you can opt for a service such as Laundry Care, register there and receive $20 per bag of processed laundry. If you’re confident enough to start a wash-and-fold laundry service on your own, you get to decide what to charge. Don’t forget to stay competitive and up to date with what other similar services in your area have to offer and constantly up your game.

 

Personal Chef

  • Pay: $20.64 per hour

If you know you are an excellent cook and want to cash in on this talent, hire yourself as a personal chef and boost your income with your delicious and tasty recipes. Moreover, it’s an added bonus if you’ve had culinary training and know what happens in a real kitchen.

You can opt to prepare food only for people who follow a certain diet such as keto or sirtfood or cook for private and corporate events, there’s actually a very high demand for personal chefs for such occasions.

To be able to increase your portfolio and get your first clients, leave your business cards at service businesses in your area. Believe it or not, hair salons are good places to make yourself known. What’s more, you can take advantage of today’s technology and developments and build an online presence with social media pages and websites. As you increase the number of clients, word-of-mouth referrals and repeat business will help you attract even more customers and make them stay.

 

Professional Friend

  • Pay: $10 per hour, according to RentAFriend.com

As strange as it may sound, being a professional friend is quite a profitable and enjoyable way to earn some extra money. $10 an hour might not seem that much but think of it this way: you’ll be receiving money in exchange for performing all sorts of interesting and friendly activities.

When it comes to such activities, the sky’s the limit. You can attend a football match or a concert with someone who doesn’t want to go alone, join someone for work or social events, have lunch or coffee and even accompany someone for a workout at the gym. You get to make friends, stay fit, and get paid for it. Need we say more?

To get things started, you can sign up with RentAFriend.com.

 

Greeting Card Writer

  • Pay: $100 to $300 per accepted submission

People love receiving greeting cards. If you have a smart, funny writing style or the ability to put into words what others may not be able to say to friends, family and acquaintances, then you should definitely consider a side job as a greeting card writer.

Many greeting card writers start out as freelancers. According to the Greeting Card Association, there are more 3,000 publishers of greeting cards in the United States, ranging from large, well-known corporations to small, family-owned and individual businesses. If you want to acquire some experience, you can freelance for smaller card houses, for starters.

For instance, Snafu Designs pays $100 for each accepted idea that’s smart, delivered in a concise manner and targeted at “smart” adults. Blue Mountain Arts, a greeting card, gifts and books retailer, offers $300 for each piece of accepted contemporary prose that will be used on a greeting card or a product.

Since your idea needs to be accepted and approved first, you should expect your income to fluctuate.

 

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