After the age of 50, we can sometimes feel like we are put out to pasture somewhat. You might think that the side hustle is something that serves the millennial generation, the people between the ages of 23 and 28. But the fact is that starting a business or side hustle is something that we can all try. You may still be working full-time and need to get a bit more money so you can get to retirement quicker, or you just want to have some extra cash. Believe it or not, baby boomers are doing more side hustles than the millennials! Gig platform Wonolo conducted a study and found that 1 out of 3 baby boomers are completing three or more gigs a week on the platform in comparison to 1 out of 5 millennials. Let’s show you some side hustles that you could really sink your teeth into.
We might be the last generation that is actually handy in the traditional sense. It’s something that many 30-plus-year olds are trying, but they’ve got to learn the skills. We have the benefit of growing up with these skills. Knitting scarves, creating party favours, or even baking treats can turn into a lucrative side hustle. You can sell products on websites like Etsy, or you can branch out into your own type of business. But remember, when you are starting a business for yourself, remember the legalities and practicalities. For example, if you are sending out items through the post, get insurance for your package, as well as liability insurance, and appropriate coverage so you don’t end up paying more for your side hustle than is necessary. Many people try to bypass insurance and similar expenses, but this is not a sensible idea!
Something that is most definitely on the alternative side, but being a life coach is something that could come easily to us individuals who have been around the block a few times. A life coach helps someone to clarify goals in achieving what they want in life, helping people move towards something they wish to achieve, but also provides reassurance and support throughout the process. To become a life coach you need to address your passions and interests. You may want to look at niches that you could specialise in, such as career transitions. Additionally, you will need to pursue the relevant certifications. There are many bodies that provide accreditation, but make sure that you find high-quality providers of life coach education.
Teacher or Tutor
Some people have that yearning to help others. As we get older, we find that we slip more naturally into the nurturing role and whether our children are about to fly the nest, or we feel at a loose end, being a tutor or teacher is a great way to fill that emotional gap in us, but is also perfect for us to utilise skills that we have perfected over the years. The benefit of being a teacher or tutor is that we are older and therefore appear more reliable than a younger teacher or tutor. Also, the great thing about being a teacher or tutor, whether it’s music or mathematics, is that you can set the hours and fees.
It is somewhat of a stereotype that yoga teachers are women in their 50s! But if you have had a passion for yoga, and you’ve been doing it for a long time, why should you not embrace this stereotype? Being a yoga teacher is similar to being a personal trainer, or any form of fitness enthusiast. It is an ideal opportunity for you to pass your skills on to others, while also making extra money on the side. Yoga is one of the best ways to maintain strength and suppleness in later life, and you may have been looking for a way to get back into yoga if it’s been a while. In which case, surely this is the best way to do it?
If you have amassed years of experience in cooking, baking, and have followed a certain diet throughout your life, you can hire yourself out as a personal chef to get extra cash. If you’ve been fine-tuning your recipes over the years or you have recently started to follow a certain diet like keto or paleo, you could offer your services to corporate events.
There are many options for side hustles later in life. We should never feel that our age is a barrier, in fact, it is a way for us to get a distinct advantage in the side hustle game!