Earning Money
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. #1 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 . #2 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. #3 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. #4 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 […]
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