While many people may consider over 50 years of age as the threshold for going out of commission, there’s a long list of options when it comes to supplemental income for seniors.
You can still add to the family’s financial outlook, so, let’s look at some of these options to make money at this age?
Are you a vibrant and handy person, there’s a whole lot that you can do to earn some small or lump sum amounts of cash without having to deal with the hustle and bustle of a 9 to 5 job?
In this post, I set out to answer your questions, and help you find several very common, fun, and profitable side hustles.
Stock trading has made many people millionaires, and while you might not be interested in making millions with this one, you can still earn a handsome profit.
You can research all that you need to know about stock trading online or look for a professional trader to be your mentor in this business without ever leaving the comfort of your home.
This is a legitate money making opportunity but it isn’t going to make you rich overnight, so don’t hold your expectations too high.
On the other side of the same coin there are high risks involved in stock trading and you really need to do you research before commiting too much
What you need to do is master the tricks and establish a pattern that will give you a high chance of establising a consistent stream of income.
You don’t need any fancy degrees or qualifications to start, but remeber learn all you can because this can be done at you own speed and that’s the best part.
Love shopping? Then this one’s for you! This type of shopping offers you an awesome experience while still getting paid for it.
A large number of companies out there are paying people to “shop” the businesses of their clients and offer honest feedback and opinion.
This is more of a quality check measure by business owners to ensure the best customer service delivery, but it’s done in more of a covert way. So you will be the one going undercover for them.
And yes, this is available worldwide, so you can do it from just about anywhere. Maybe look locally at what is available but there is a lot of information online.
A good start is the Mystery Shopper Providers Association, although, of course, there are other avenues to find such jobs.
Renting out the basement or vacant room
Is your city hosting a big event, or do you just have more room than you need? Renting out that extra space you no longer use could be yet another great way to earn some extra cash on the side.
One of the best things about this type of income is that it is a passive way of earning. There is no real work involved.
Besides, you can decide whether to rent out a single room or the entire home, and you decide the amount of time you are willing to rent it out for.
Whether it’s overnight, a week, or even a month, it’s all your choice. The only problem may be with local laws in your district may spell out out a lot of rules and regulations.
One of the best places to look for people in need of a space to rent is Airbnb, and it’s available the world over, so you can benefit from such an opportunity anywhere in the world.
If you love to travel the world, explore the backcountry, and snap some awe-inspiring photos, you could turn doing what you love into a money making opportunity and enjoy the best of both worlds.
Even if you don’t have a headstart on this one yet, you still can get started nice and easy with just a digital camera, and some basic photography skills, you don’t have to be a pro.
Selling images online is big business, and booming! So don’t let those high-quality digital photos waste away on your computer or toss them to the dustbin.
National park gigs
If you love the outdoors, then this would be a great way to make money doing what you love.
National parks are always striving to offer visitors guides as well as helpers on other aspects to help them around throughout their stay.
This presents a great opportunity for those who would like to spend some time in the outdoors.
Such a site as “Older and Bolder” maybe the National Park Service could be a great start.
Selling handmade products
For those blessed with a bit of creativity, making handmade products would be a great way to make the most of your time, and earn money while still at it.
Whether it is crafts or any other creatively made items, finding someone to buy from you is easier than you might think.
And Etsy is one of the best places to look if you want to start selling your creations. The good thing about this site is that it empowers and gives creative people a platform that they can work from.
A lawn-mowing run
This can be a profitable and fun business adventure for some, lawn mowing could turn out to be the one thing every neighbor in the block has been wishing to get someone to help with.
Thus, stepping up to the challenge and starting slowly could be all you need to get you on the right foot for success.
You can start by just doing a letterbox promotion in your neighood to help keep other peoples lawns looking great, charging a fee in exchange.
Eventually, with several households to take care of, you could go on to end up with a business that even employs others to do the hard work for you.
Drive for Uber
Another great way to make money on the side is by signing up as an Uber driver. It isn’t difficult to start, and all you need is your driving license along with a reasonable motor car.
Once you’re registered and ready to go, you can turn your favorite ride into a money making machine while helping others get around the town safely.
Making money as a freelance writer might sound like a hurdle for many, but the truth is, this can be easier to start than you think, you don’t have to be an avid novelist here.
To start your journey with freelance writing just do enough research and together with a love of writing you’ll be good to go.
Even better, there’s a long list of sites out there where you can find clients to work with, from London Brokers to Indeed, iWriter, Upwork, and the list goes on. Start turning your words into some nice cash.
Publish an eBook
Chances are, you have that idea for a book that you’ve been sitting on for years. Well, why not let it out and turn it into cash with writing and selling eBooks and helping others on different aspects?
Stepping into the world of eBooks doesn’t take rocket science either, with the right research, the love for writing, and good ideas that sell, you should be making that dime in months.
It’s one of the easiest ways to earn a supplemental income when you need it the most.
And there’s a whole lot that you can do here, from taking consumer research surveys to more lucrative options such as trying new products and services, for free by the way.
Also, you can earn a referral commission once you invite others to check out these opportunities.
And the list of sites where you can find surveys is a long one, from Cash Crate to Survey Junkie, Swagbucks, among many others.
Tips to get you started
Setting out to pursue any of these opportunities might seem a bit daunting, but once you get going, you will gain confidence as well as knowledge. If you feel unsure about how or where to start, these few ideas will get you on the right track.
Identify what you love doing, and then build from there. If you want to have it easy with any side hustle, make sure it is in line with something you are already doing, or one that you have always wanted to do. Let the interest come first, and the task will seem a whole lot easier.
Do your research well. Before stepping up for the challenge, it’s advisable to do your due diligence to find out if this will be something worth doing in the first place, is it profitable or sustainable? All of these factors play a significant role in your success.
Do you have the right skills? Another bit that you don’t want to miss is whether you have the right skills for what you want to do or you have to set aside some time to acquaint yourself with all that you need to know before starting.
Luckily, some of these don’t necessarily require you to have ay particular skills.
Consider the monetary factor, too! One thing to keep in mind is that some of these options might carry financial risk, as is the case with any business. So when stepping in, make sure not to put on the line more money than you can afford to lose.
Find out what others are doing, as this might give you a hint of what is working and what isn’t.
Try talking with other seniors to find out how they are earning supplemental income. From social media platforms to online forums, there are enough avenues to network out there.
Any of the ideas I’ve listed here, and a hoard of many others out there, make up a great way of earning sufficient supplemental income for seniors.
All you need to do is pick the one that best matches your interests so you can have fun while still earning.
Some of these options won’t make you filthy rich, others have the potential to, but the bottom line is, what you want is that supplemental income, so why not go for it and see what you can achieve in the long term.
So, which of these got the sugar, the spice, and everything nice? Which one are you working on already or planning to try it? Let me know in the comment section below.
If you are serious about the possibilities of securing a supplemental income to boost your current financial status there are many opportunities available to us.
However, don’t fall for the silver bullet that many scammers spruik, these get rich quick schemes simply don’t work, no matter how good they look from the outside.
Some side hustles will provide us with the extra dollars to go on a vacation or purchase a home appliance. Some can become serious and substantial income streams that will buy a new car maybe even a house.
Let me show you one more way of creating income, it has the potential to fastrack you to your financial security, it is Affiliate Marketing working from home.
The platform is Wealthy Affiliate and with their training and help I have been working in my own business for the last 3 years that generates monthly income that supplements my spending.
Anything worth anything, is worth working for, to build any income stream will take time and effort. Be prepared to get outside your comfort zone and gradually work towards a goal that you want to achieve.
We usually underestimate what we can do in a year and overestimate what we can do in a week. So allow yourself time to learn new things using new tools that can set us up for a comfortable lifestyle of choice in a relatively short time.
If you have more questions about supplemental income for seniors please let me know in the comments below and I will happily answer them asap.