Summer has always been a great time to relax and enjoy your free time, but now that you’re retired, it’s as good a time as any to take on a new side hustle. Unlike most other people who don’t have the luxury of time to spare to make some extra cash any time of the year, retirees can actually use the warmer weather and longer days to their advantage. If you’re looking for a summer side hustle, here are 11 ideas to help you bring in some extra cash. Whether you want to earn a little extra spending money or save up for a rainy day, these side hustles can be a great way to supplement your income.
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Get into trading
The stock market usually sees an uptick in activity during July and the rest of the summer months, so this can be a great time to get into trading. While trading is, and always will be, a risky endeavor, it has proven to be highly profitable for those who do it intelligently. This means learning as much as possible about the market, how trading platforms work, performing technical and fundamental analysis, choosing stocks to invest in, and so on.
If you’re feeling a bit more adventurous, you can also take a swing at crypto trading. This has its particular set of challenges, including learning how blockchain technology works, choosing and learning how to use the right crypto exchange platform, choosing what cryptos to invest in, and more.
While most retirees and seniors tend to be more risk-averse than younger investors and sometimes steer clear of the stock or crypto markets, retirees have an advantage over young, part-time investors who work regular jobs. They have time to spare to keep an eye out for new market trends and to act accordingly, taking advantage of trading opportunities that only full-time traders can leverage.
That said, it’s important to note that, no matter how much you prepare, study and practice, investing in the stock market or cryptocurrencies will always be risky. Consequently, you should never invest more than you’re willing or able to lose without it jeopardizing your nest egg and retirement income.
Start a garden or, better yet, a greenhouse business
One of the best things about retirement is having more time to pursue interests and hobbies. If you have a green thumb, consider starting a garden. Not only can gardening be therapeutic and fun, but you can also grow your own food and sell produce at a local farmers’ market or to local restaurants.
If you don’t have much space, container gardening can be an option. You can grow herbs, vegetables, and flowers in pots on your porch or balcony, or you could even join forces with other retirees to start a community vegetable garden.
If you have more space, like a big backyard, and want to take your gardening business one step further, you can start a small greenhouse business. With a greenhouse, you can grow plants and produce year-round and sell them to customers in your area. Summer is a great time to sell those plants to locals and tourists alike.
Drive for Uber or Lyft
If you live in a bustling town or city with many tourists or a vibrant economy, you can make some extra cash by driving foR rideshare services like Uber or Lyft. This is especially true during the summer when tourism is at its peak.
To get started, all you need is a clean driving record and pass a background check. You also need a car no more than ten years old and in good working condition. If you meet all these requirements, you can sign up to drive through the Uber or Lyft website or app.
Once approved, you can start picking up passengers and earning money. The great thing about being an Uber or Lyft driver is that you can choose your hours and work as much or as little as you want. Feeling bored when the grandkids take it to the pool? Hop on your car and make a few runs.
Rent out your power tools or other hardware
If you’re the handy type and have a garage full of tools or have plenty of professional gear left over from your younger years, you can make some extra cash by renting them out to people in your community who need them for a one-time project.
You’ll find websites and apps like Sparetoolz, Presta, Rent My Equipment and ShareGrid that allow you to list your tools and other specialized equipment for rent. There’s an app for every niche. ShareGrid, for example, specializes in cameras and photographic equipment, while Presta focuses on outdoor gear.
Once your items are listed, people in your area can search for and find what they need. They’ll contact you to arrange a time to pick up the item and return it when they’re done. You get paid through the app after the rental period is over.
Renting out your tools is a great way to make extra money without having to do much work. It’s also a great way to meet new people in your community.
Turn your favorite hobby into a new business
Do you have a hobby that you’re passionate about? If so, why not turn it into a business? Many retirees have done just that and are now living their dream.
For example, if you have a knack for crafting, you could start a business making and selling handmade jewelry, pottery, woodwork, or other artisanal products. Or, if you’re a talented painter, you could start selling your paintings online or at local art fairs and galleries.
The possibilities are endless. The key is to find a way to monetize your hobby so that you can make some money from it. Once you do that, you’ll be well on your way to starting a successful new business.
Start a dropshipping business
Dropshipping is an eCommerce business where you sell products online but don’t keep any inventory. Instead, when a customer orders a product from your store, you simply contact the supplier and have them ship the product directly to the customer’s door.
Dropshipping is a great business for retirees because it doesn’t require much start-up capital or ongoing maintenance. You can run your dropshipping business in your spare time and from the comfort of your own home.
You’ll need to create a store using an eCommerce platform like Shopify or BigCommerce. Then, you’ll need to find suppliers willing to dropship their products. Once you’ve done that, you can start listing products for sale in your store.
Tutor students online or in-person
If you’re a retired teacher or have a background in a particular subject, you could start tutoring students online or in person. Tutoring is a great way to make some extra money, and it’s also a great way to give back to the community.
You can use websites and apps that allow you to connect with students who need help with their studies. For example, platforms like Chegg, TutorMe and Tutor.com match tutors with students, helping you with marketing and payments. Summer offers the chance to find students taking summer courses or needing to prepare for an upcoming admission test.
Tutoring is a great way to make some extra money, but it’s also a great way to stay sharp and keep your mind active. It’s a flexible gig you can do entirely on your own schedule. So, if you’re looking for a side hustle that allows you to set your hours, this could be the perfect option.
Become a freelance writer or start a blog
If you have a knack for writing, why not turn it into a summer side hustle? There are plenty of ways to get started as a freelance writer, including pitching articles to online publications and starting a blog. You can also work with companies to write content for their websites or ghostwrite books.
To get started as a freelance writer, look for job postings online or contact companies directly to inquire about writing opportunities. Once you’ve landed a few clients, build up your portfolio by writing sample articles or creating social media posts.
Blogging is another great option for retirees who want to make money from writing. If you have an interesting story to tell (most retirees do) or some valuable advice to share, starting a blog could be the perfect summer side hustle for you. Best of all, it’s free to start, and you can do it entirely on your schedule.
Tour guide services
If you’re passionate about your hometown or city, why not start a business giving tours? You could give walking tours, driving tours, Segway tours, food tours, or any other type of tour you can think of.
This is a great summer side hustle for retirees because it’s relatively easy to get started and can be quite profitable. Plus, it’s a great way to meet new people and show them around your city.
Before you get started, it’s a good idea to contact your local tourism board or chamber of commerce and inquire about getting certified as a tour guide. Once you’re certified, it’ll give you more credibility and make it easier to find clients.
Create an online course
If you’re an expert in a particular subject or skill, you could create an online course and sell it to students. This is a great way to make money from your knowledge, and it’s also a great way to share your expertise with the world. Creating an online course is a bit more involved than some other side hustles on this list, but once the course goes live, it becomes a source of passive income.
You could start creating one course after another and build a nice monthly income that’ll make your golden years shine.
Rent out your home on Airbnb
It’s common for retirees to end up with a big home full of empty rooms. While some retirees decide to sell their houses and move to a smaller, more affordable place, those who haven’t made up their minds can generate a new income stream by listing the extra rooms on Airbnb.
With Airbnb, you can rent out your space to travelers from all over the world. This is a great way to earn extra money and meet new people from different cultures. There’s no better time to start than during the summer when tourism is at its peak.
Retirement doesn’t have to mean sitting around at home all day. There are plenty of ways to make money and stay active during retirement, particularly during summer. So, if you’re looking for a summer side hustle, consider one of the options on this list. You might find the perfect way to make your golden years as enjoyable as they’re meant to be.
Article by Jordan Bishop, Due
About the Author
Jordan Bishop discovered the power of credit cards at a young age. His first splash into travel hacking came with the wildly viral launch of Yore Oyster, which landed him national media attention and more than a million frequent flyer miles. He leveraged that opportunity to help tens of thousands of people save millions of dollars on flights, all while globetrotting the world.