Retirement is often seen as a time to relax, but it doesn’t mean stepping away from meaningful or rewarding work. Many seniors see it as a chance to try new things and find new ways to make extra money. Finding the perfect side hustle can bring both personal and financial benefits, whether you want to supplement your retirement savings, stay active, or follow your passion. Here are a few worth considering:
Bookkeeping
Freelance bookkeeping might be a good fit for retirees with administrative, financial, or accounting experience. Small businesses often need bookkeepers to handle billing, account reconciliation, and financial records. Many of these roles offer flexible hours, making them easy to fit around your schedule. Pay typically ranges from $11 to $25 per hour, depending on your background. Working 10 to 15 hours a week can easily bring in around $800 to $1,000 a month, especially if you take on multiple clients.
Part-time bookkeepers help document and organize transactions such as invoices, purchases, payments, and sales. These records are then entered into the company’s general ledger before financial statements like the income statement or balance sheet are prepared.
Bookkeepers need strong attention to detail and a solid understanding of the accounting cycle. Knowing how to use accounting software and Microsoft Excel is an advantage. Some employers may also require an associate’s degree or relevant work experience.
Keep in mind that accounting and bookkeeping are two different things. Bookkeeping involves keeping track of financial data, while accounting interprets that data to prepare reports, analyses, and tax filings.
Tutoring
Tutoring is a rewarding way for seniors to share their knowledge and give back to the community. Whether you’ve taught in the classroom or developed expertise in a particular subject, your skills are valuable to learners of all ages.
Online platforms like Tutor.com, Wyzant, and Preply make it easy to get started. Retired teachers may also consider teaching English online through programs like Cambly or VIPKid. These platforms let you teach students around the world from the comfort of home, often with flexible hours and minimal prep time.
Local tutoring centers are another good option, especially if you enjoy mentoring students in person. Bring along a list of your subjects or specializations and see what’s available.
According to Preply, online tutors earn about $18.30 per hour on average. Depending on the subject, rates can range from $10 to nearly $39 per hour. With consistent sessions each week, many tutors comfortably reach an extra $1,000 monthly.
House-Sitting
If you’d like to travel while keeping costs low, house-sitting can be an interesting and rewarding option. This side hustle involves caring for someone’s home and often their pets while they’re away. The arrangement allows owners to relax knowing their pets are safe and their homes are looked after.
Websites like TrustedHousesitters and Nomador are great places to find house-sitting opportunities around the world. Most listings on these platforms require a paid membership, and many are based in Europe.
Before applying for international positions, make sure you understand each country’s visa requirements. Entering a country as a house sitter without the right visa could result in denial of entry, even for unpaid work.
Not all house-sitting arrangements come with pay. In many cases, the exchange is free lodging and utilities in return for your services. However, paid house sitters can typically earn between $13 and $18 an hour, though most are compensated per day, week, or month rather than hourly. This means that if you charge $15 an hour or a weekly rate of $200 to $250, you could take home $1,000 a month by taking on a few short-term assignments.
Airbnb Hosting
For some people, becoming an empty nester means finally enjoying peace and quiet. For others, it’s an opportunity to earn extra income. Airbnb can be a fun side hustle if you have a spare room or two and don’t mind hosting guests. According to Airbnb data, the average U.S. host earned about $14,000 in additional income in 2023.
Although Airbnb is often associated with younger hosts, seniors are actually the platform’s fastest-growing demographic. Many retirees offer well-maintained homes in desirable areas and bring a lifetime of hospitality experience that guests appreciate.
Listing your space on Airbnb is simple. You can add photos, descriptions, and amenities to attract guests and use AirCover, Airbnb’s protection plan, for added peace of mind. You decide your own rates and hosting frequency, whether that’s only during certain months or all year round. Both short-term and long-term rentals are possible.
Before starting, research your local rules about room rentals. Some areas have specific requirements or only allow long-term tenants. It’s also helpful to set clear ground rules for guests, such as quiet hours or no parties.
You don’t have to be young to have a side hustle. They’re for anyone who wants to stay connected, productive, and independent. For retirees, the best side hustles offer more than financial gain. They provide structure, community, and the chance to keep learning something new.