6 Best Side Hustles for Seniors To Offset Social Security Cuts
Written by
Ashley Donohoe
Edited by
Levi Leidy
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Due to concerns about Social Security’s insolvency, a recent analysis from the nonprofit Committee for a Responsible Federal Budget estimated that Americans could experience a 24% cut to their benefits by the end of 2032. It projected benefit cuts in 2033 ranging from $8,200 to $18,000 for single-income couples and $11,000 to $24,000 for dual-income couples.
While Congress may still act before the Social Security fund is depleted, it’s smart to plan ahead so you have other income sources to supplement your retirement savings and benefits. One option is to take on senior-friendly side hustles that let you make money doing potentially low-stress, enjoyable work online or locally.
Here are six of the best side gigs that can help seniors offset Social Security cuts.
Rent Out Your Space
If you haven’t downsized, you may have an extra room or even a whole basement to spare. You could consider making passive income by renting out that space on a platform like Airbnb or finding trustworthy renters locally. However, this side gig will require giving up some privacy and taking time to understand local regulations and maintain the space.
The earnings potential is high but depends on factors like demand for your location, the type of space you’re renting out and how often you have paying guests. You’ll also need to factor in any platform fees and business expenses associated with the rental.
Deliver Groceries or Meals
Delivering groceries or meals through platforms like Instacart, Shipt and Uber Eats can be a senior-friendly side gig that lets you earn through base payment fees, incentives and tips. It’s ideal if you like getting out of the house, feel comfortable using apps and don’t mind driving and occasionally lifting heavy items.
Getting started is easy, with major platforms often just requiring a short application, background check and online training. You’ll also need a reliable vehicle. Once onboarded, you can log in when you’re available to pick up orders.
While your pay depends on the orders you do and several other factors, Indeed reported a $19.51 average hourly rate for delivery drivers.
Take On Freelance Projects
Whether you used to work in IT, customer service, consulting or a creative field, freelancing can help you keep your skills fresh and make extra money to supplement your Social Security checks. It’s also an increasingly popular option, with Statista estimating that the majority of Americans will take on this type of work by 2027.
One route to freelancing is to join marketplaces like Upwork, Fiverr or PeoplePerHour, where you make a profile, set rates and find clients. You can also reach out to companies directly or advertise your services on LinkedIn.
You can expect your earnings to widely vary, though Indeed noted that freelancers average $27.95 per hour. Be sure to account for any business expenses when you set your rates, and keep in mind you’ll be paying higher taxes as a self-employed individual (which is the case for any of these side gigs).
Be a Pet Sitter
Watching people’s pets while they’re working or traveling can be an enjoyable side gig for seniors who like spending time with animals. You’ll typically do simple tasks like feeding, playing with and walking pets, as well as keeping them clean and giving them medications. Plus, you can choose the pets you work with and when you’re available for care.
Platforms like Rover, Wag and Care.com are popular places to find pet-sitting gigs, but you can also advertise locally or post about your services on social media. According to Indeed, the average hourly rate for pet sitting is $25.86, but you’ll normally decide your own rates.
Sell Handmade Items
An upside of being a retired senior is that you likely have more time to focus on hobbies you enjoy, and that might include making jewelry, painting, crocheting or doing other crafts. If what you make is in demand, you could turn crafting into a profitable side hustle by selling items at craft shows or on platforms like Amazon, Etsy and social media sites.
Deciding on pricing can be tricky since you must account for the time and materials put into the project and any platform, shipping and payment fees. CraftyBase noted that a common target profit margin is 8% to 30% for crafts and that competition will play a role in setting your prices.
Be a Substitute Teacher
If you’d like an impactful, in-demand side gig during retirement, consider becoming a substitute teacher in your area. This role is often flexible enough to let you grab a few shifts per month to several per week, and you can usually pick the schools and grade levels you teach. Plus, unlike full-time teachers, you typically won’t have work to take home.
While you’ll want to check with your state’s education department, this side gig often doesn’t require an education degree or teaching experience. Kelly Services noted that some states don’t even require a college education. According to Indeed, the average hourly pay for substitutes is $22.44.
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