Top 8 'Encore-Career' Side Hustles to try for boosting your retirement fund in your 50s and beyond. - Goh Ling Yong
The concept of retirement is changing. For many, the idea of stopping work entirely at 65 and heading straight for the golf course or cruise ship is a thing of the past. Today, retirement is less of a finish line and more of a new chapter—one filled with opportunity, purpose, and, for the savvy individual, new income streams.
Welcome to the age of the 'encore career.' This isn't about grinding away at a job you dislike. It's about leveraging a lifetime of skills, experience, and wisdom to do something you enjoy, on your own terms, while giving your retirement savings a healthy boost. Whether you’re looking to cover extra expenses, travel more, or simply stay mentally and socially engaged, a side hustle in your 50s, 60s, and beyond can be a game-changer.
Here on the Goh Ling Yong blog, we believe that financial empowerment has no age limit. Building a secure future is a lifelong journey, and this chapter is one of the most exciting. In this guide, we’ll explore eight fantastic and realistic side hustles perfect for those ready to start their encore career. Let's dive in.
1. Become a Consultant or Coach
Your 30+ years of professional experience isn't just a collection of memories; it's a highly valuable asset. Businesses, especially startups and small companies, are often desperate for the kind of seasoned expertise that you can provide, but they may not have the budget for a full-time senior executive. This is where you come in as a consultant.
Whether your background is in marketing, finance, human resources, or operations, you can package your knowledge into a consulting service. You could help a small business develop a marketing strategy, guide a non-profit through a financial audit, or coach a new manager on leadership skills. The possibilities are as vast as your career path. You set your hours, your rates, and choose the projects that truly interest you.
Actionable Tips:
- Tap Your Network: Your first client will likely come from your existing professional network. Let former colleagues and contacts know you're available for project-based work.
- Refine Your Niche: Instead of being a "business consultant," be a "logistics consultant for e-commerce startups" or a "public relations coach for authors." Specialization allows you to charge more and attract the right clients.
- Use LinkedIn: Update your LinkedIn profile to reflect your new consulting focus. Share articles and insights to establish yourself as a thought leader in your field.
2. Tutoring and Mentoring
Have a passion for a particular subject or a skill you've mastered over the years? From algebra and history to piano and public speaking, there is always someone looking to learn what you already know. Tutoring and mentoring is an incredibly rewarding way to share your knowledge and make a real impact on someone's life.
This isn't just limited to academic subjects. You could teach English to new immigrants, mentor young professionals entering your former industry, or teach a practical skill like sewing, woodworking, or cooking. You can do this in person at local community centres, libraries, or in clients' homes, or you can take it online using video conferencing tools, giving you the flexibility to work from anywhere.
Actionable Tips:
- Start Local: Post flyers at your local community centre, library, or coffee shop. Let your friends and neighbours know about your services.
- Go Online: Websites like Tutor.com, Wyzant, and Outschool connect tutors with students of all ages from around the world.
- Focus on 'Life Skills': Consider mentoring younger generations on skills like financial literacy, career navigation, or effective communication—areas where your life experience is invaluable.
3. Freelance Writing and Editing
If you have a way with words and a keen eye for detail, the world of freelance writing and editing offers endless flexibility. In today's content-driven world, businesses of all sizes need well-written blog posts, website copy, newsletters, and social media updates. Many are more than happy to pay for quality work from a reliable freelancer.
You don't need a journalism degree to succeed. If you spent your career in the medical field, you could write for health and wellness blogs. If you were a lawyer, you could help law firms with their website content. The key is to write about what you know. Editing and proofreading are also in high demand, from students needing their dissertations checked to authors looking for a final polish on their manuscript.
Actionable Tips:
- Create a Portfolio: Start a simple blog or use a portfolio site like Journo Portfolio to showcase a few writing samples. If you don't have any, write a few sample pieces on topics you're passionate about.
- Leverage Platforms: Sites like Upwork and Fiverr can be a good place to find your first few clients and build a reputation.
- Network with Businesses: Approach local small businesses and offer to rewrite their website copy or start a blog for them. Many don't have the time or skill to do it themselves.
4. Handyperson Services
Are you the person everyone calls when a shelf needs to be put up, a tap is dripping, or a piece of IKEA furniture needs assembling? If so, you can easily turn those practical skills into a profitable side business. Reliable and trustworthy handypeople are worth their weight in gold, and demand for small home repair and maintenance jobs is consistently high.
This hustle is perfect for those who enjoy working with their hands and don't want to be tied to a desk. You can choose the jobs you want, from painting a room and basic gardening to more complex tasks like minor plumbing or electrical work (ensure you have the necessary licenses for regulated work). Word-of-mouth is powerful in this industry, so one happy customer often leads to many more.
Actionable Tips:
- Get Insured: Protect yourself and your clients by getting general liability insurance. It’s a professional touch that builds immense trust.
- Set Your Boundaries: Decide what types of jobs you are willing and qualified to do. Don't be afraid to say "no" to projects outside your skill set.
- Use Local Platforms: List your services on local Facebook groups, Nextdoor, or even an app like TaskRabbit to connect with clients in your area.
5. Pet Services (Sitting, Walking, Grooming)
For animal lovers, this side hustle barely feels like work. With more people working long hours or traveling, the need for reliable pet care has skyrocketed. Offering services like dog walking, pet sitting (either in your home or the client's), or daily drop-in visits can be a fun and lucrative way to spend your time.
This is a business built on trust. People treat their pets like family, so demonstrating your reliability, care, and love for animals is paramount. It offers great flexibility—you can take on as few or as many clients as you like. Plus, you get the added health benefits of staying active from all that dog walking!
Actionable Tips:
- Use an App: Services like Rover and Wag! make it easy to create a profile, set your rates, and connect with pet owners. They also handle the payments and provide insurance.
- Get Certified: Consider taking a pet first-aid and CPR course. It's an inexpensive certification that provides peace of mind for you and your clients.
- Specialize: Do you have experience with senior dogs, anxious cats, or exotic pets? Highlighting a specialty can help you stand out and command higher rates.
6. Monetize Your Hobby
Have you spent years perfecting your sourdough recipe, mastering watercolour painting, or building beautiful birdhouses? Your passion project or lifelong hobby can become a source of income. This is the ultimate encore career—getting paid to do what you already love.
Platforms like Etsy have made it incredibly simple to set up an online shop and sell handmade goods to a global audience. You could also sell your products at local farmers' markets or craft fairs, which is a great way to connect with your community. From custom jewellery and knitted blankets to gourmet jams and digital photography prints, the options are limitless.
Actionable Tips:
- Price for Profit: Don't forget to factor in the cost of your materials and your time. Your skill and effort are valuable.
- Quality Photos are Key: When selling online, your photos are your storefront. Take clear, well-lit pictures of your products from multiple angles.
- Start Small: You don't need a huge inventory to begin. Create a few items and test the market to see what sells best before scaling up.
7. Rent Out Your Assets
One of the most effective ways to generate semi-passive income is to leverage assets you already own. For many in their 50s and beyond, this might mean a home with an empty nest. Renting out a spare bedroom on a platform like Airbnb can provide a significant income stream, especially if you live in a desirable location.
Beyond a spare room, think about other assets. Do you have a car that sits unused for most of the week? You could rent it out on a service like Turo. Do you own high-end camera equipment, power tools, or even a party tent? There are "peer-to-peer" rental platforms for almost anything you can imagine. This approach lets your belongings work for you.
Actionable Tips:
- Check Regulations: Before listing your room or property, be sure to check your local city ordinances and any HOA or co-op rules regarding short-term rentals.
- Be a Great Host: The key to success on platforms like Airbnb is positive reviews. Cleanliness, clear communication, and small, thoughtful touches go a long way.
- Calculate the True Cost: Remember to factor in expenses like increased utility bills, cleaning, maintenance, and platform fees when setting your prices.
8. Become a Virtual Assistant (VA)
A Virtual Assistant is the modern evolution of the executive or administrative assistant. VAs provide administrative, technical, or creative assistance to clients remotely from their own homes. Your decades of experience in an office environment—managing schedules, organizing documents, handling correspondence, and planning events—are directly transferable to this in-demand field.
Small business owners, entrepreneurs, and busy executives are often overwhelmed with day-to-day tasks and are eager to delegate. As a VA, you could be responsible for managing their email inbox, scheduling appointments, updating their social media, performing basic bookkeeping, or conducting online research. It's a role that rewards organization, reliability, and professionalism.
Actionable Tips:
- Identify Your Skills: Make a list of all the administrative tasks you're proficient in. Are you an expert with Microsoft Excel? A pro at organizing travel? Market those specific skills.
- Package Your Services: You can offer your services at an hourly rate or create monthly retainer packages (e.g., 10 hours per month for a set fee).
- Find Your Niche: Consider specializing as a VA for a specific industry you know well, such as for real estate agents, lawyers, or online coaches. This allows you to provide more value and charge a premium.
Your Encore Awaits
The transition toward retirement is the perfect time to redefine what "work" means to you. It's an opportunity to trade the 9-to-5 grind for flexible, fulfilling work that aligns with your passions and pads your nest egg. Your age and experience are not liabilities; they are your greatest strengths in this new economy.
Managing this new income stream effectively is just as important as earning it. Making sure it’s working hard for your long-term goals is key. As we always say at Goh Ling Yong, a comprehensive financial plan should adapt to your life's exciting new chapters.
So, what encore career are you dreaming of? Do you have another great side hustle idea for this list? Share your thoughts and experiences in the comments below! We’d love to hear from you.
About the Author
Goh Ling Yong is a content creator and digital strategist sharing insights across various topics. Connect and follow for more content:
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