Introduction
Retirement might seem far away, but, it's never too early to start planning. That’s where side hustles come in! Many people in their 50s and 60s are thinking about how they can live their best lives as they transition to their future retirement years.
Building a side hustle before retirement can offer you the flexibility to explore new interests. Side hustles can help you to create extra income, and prepare you for a fulfilling and purposeful life. Especially as you enter those early years of the retirement phase of life.
In this guide, we'll show you why side hustles are an excellent option for pre-retirees. Furthermore, we shall share the best ones you can choose that align with your freedom-seeking, health-conscious lifestyle.
This picture shares a yoga teacher choosing to travel the world teaching her skills and knowledge by offering yoga retreats in far flung locations. When on location, she chooses to immerse all the attendees into the local culture, and to explore the countryside as well. Nurturing your body, mind, and spirit as well as long-lasting friendships. You can see more at http://marieandrewsyoga.com
Why Side Hustles Are Perfect for Pre-Retirees
As you approach retirement, it’s important to think about the kind of life you want to lead. You might envision spending your days traveling, pursuing hobbies, or even starting a new venture. A side hustle offers the perfect way to achieve time freedom while also enhancing your financial security. Here's why side hustles are a great fit for pre-retirees:
Flexibility and Freedom: Aligning with Your Lifestyle
One of the greatest benefits of a side hustle is the flexibility it provides. Unlike a full-time job, side hustles allow you to work on your own terms. Whether you’re working from home or on the go, you have the ability to choose when and where you work.
This is a huge advantage for pre-retirees who are planning ahead. Particularly if you are wanting to get to grips with finding a purpose to life, once you are no longer employed. Why not pass on the experiences and knowledge you have acquired over the years? Perhaps doing consultancy work, or looking at some way to monetize your personal passions?
What if you find yourself in the position with a long-term disability or chronic health issue? More often than not, this reduces your capacity to earn outside the home. Why not begin your side hustle from the comfort of your home, and find out how to monetize something you love to do? This new side hustle could then serve you to add extra income to support your health needs.
Boosting Your Financial Well-Being for Retirement
Many pre-retirees count on their future pensions and accumulated savings for their retirement needs. Often we find that some people do not seek advice to plan ahead. How do they know if their money is going to last them if they don't work out their expenditure needs? If you have multiple pension streams, then you possibly are going to be ok. However if you are reliant only on a state pension, together with a small nest egg- then its highly unlikely to go very far.
Certainly, side hustles can provide a ready made additional income stream for your future years. This extra cash flow can help you build up your nest egg, or contribute to your day to day expenses. It could potentially make work optional, you can choose to retire on your terms. You can set yourself up to be very comfortable financially when the time comes to drop your day job. The extra funds can be used to pay off debt, to increase your retirement savings, or fund a passion project. Perhaps you choose to reinvest your earnings into other online income ventures as your skills develop. Indeed a side hustle can be a game-changer.
Exploring Passions and Hobbies While Making Work Optional
Retirement is more than just no longer having to work- trading time for dollars. It’s also about living a life full of purpose and meaning. A side hustle gives you the opportunity to explore hobbies or interests you’ve always been passionate about. In addition, the bonus being it can start generating income. 
For instance, if you love crafting or writing, you can monetize those skills through platforms like Etsy or WordPress. This allows you to tap into your creative side of your brain and get those juices flowing. Your days will flow if you love what you do, being productive and occupied, without the pressure of traditional work.
Best Online Side Hustles to Start Before Retirement
There are countless side hustle opportunities out there, but not all of them are ideal for pre-retirees. We suggest that you make the most of your time and energy now, and learn about the various online side hustles that do offer you some flexibility. Especially check, that it is going to be something you will love to do. And obviously, the best way to do that is to ensure it aligns with your passions.
Moreover, if you are a little like me, being health focussed, then make sure it fits within your goals for a healthy, and balanced mindset. Our new side hustles are not supposed to add to our stress levels. Instead they should make life easier, to give us choices to choose to retire when we want to. Perhaps, when the day job gets a bit too much.
If you start to create an automated income stream before you retire then it becomes an easier process for you in the long-run.
Granted, the early stage of learning something new, maybe a little overwhelming. But it serves to challenge our brains as we learn to sit with being comfortable in an area of discomfort. Or in other words, we may not know what we don't know, but with the expertise of others we can find that knowledge. It not only gives us power to make life choices, but most importantly a sense of accomplishment even with the smallest of tasks.
Top Online Side Hustles for Pre-Retirees
- Freelancing Whether you’re a writer, designer, or marketer; freelancing allows you to use your existing skills and experience to earn extra income. Websites like Upwork, Fiverr, and Freelancer, make it easy to find clients and work on your own schedule.
- Affiliate Marketing If you love sharing recommendations and opinions, affiliate marketing might be a great fit. By promoting products or services through a blog or social media, you can earn commissions whenever someone makes a purchase through your referral link.
- Online Teaching or Tutoring Sharing your knowledge is not only fulfilling but can also be lucrative. Pre-retirees with expertise in certain fields can teach or tutor online, through platforms like AmazingTalker or Italki. Whether it's teaching English to foreign students or offering courses on a specific topic, online teaching provides a rewarding side hustle.
- E-commerce Starting an online store is an excellent side hustle option, especially for those who love creating things. Platforms like Etsy or Shopify make it easy to sell handmade goods, digital products, or even dropshipping items without the hassle of managing inventory.
- Virtual Assistance Many businesses and entrepreneurs hire virtual assistants to help with tasks like scheduling, customer service, or managing emails. If you have strong organizational and communication skills, this could be a perfect side hustle that offers flexibility and a steady income. If you are an executive or business manager, why not use your specialist expertise and lean into offering your consultancy services online?
How These Side Hustles Fit Into a Health-Focused Retirement Plan
An epic retirement encompasses many factors. Besides the money, some see it including social connection, having a purpose and meaning. It should also be about maintaining your health and well-being. The beauty of online side hustles is that they can be done from home, which means you have more time for self-care, exercise, and healthy living. By choosing a side hustle that aligns with your health goals, you can avoid burnout and ensure that your retirement years are as vibrant as possible.
The Role of Health, Longevity, and Ikigai in Your Side Hustle
As you plan for your retirement, consider how your side hustle can contribute to your overall well-being. Many pre-retirees focus only on their financial security, or lack of it; but they should also focus on their physical and emotional health. The Japanese concept of Ikigai—your reason for being—plays a vital role in how we choose to live and work. Aligning your side hustle with your ikigai can lead to greater satisfaction and happiness.
Incorporating Health and Wellness Into Your Side Hustle Journey
When selecting a side hustle, think about how it can support your health. For example, if you love exploring the world, hiking, or cycling, consider starting a travel blog.
How about putting your own expertise as a yoga teacher or fitness coach online, and in doing so you are broadening your services to a wider audience. You could then promote your own message to enable even more clients on their own health and wellbeing journey.
How to Align Your Side Hustle with Your Ikigai (Purpose)
Your ikigai is the intersection of what you love, what you’re good at, and what the world needs. Choosing a side hustle that speaks to your passions and purpose can be deeply fulfilling. If you’re passionate about sustainability, you could start a side hustle focused on eco-friendly products or services.
Maintaining a Balanced Life as You Build Your Side Hustle
Balance is key to a healthy retirement. It’s important to set boundaries and ensure that your side hustle doesn’t take over your life. Whether you dedicate a few hours each week or just a couple of days per month, make sure you’re taking time for relaxation and activities that nourish your body and soul.
Planning for a Flexible Retirement with a Side Hustle
As we have already mentioned, side hustles aren’t just about earning extra income—often it is more about having a purpose to life and feeling fulfilled. The transition from working full time - to stopping work suddenly, just to retire, can cause a range of emotional and mental issues. It can be a struggle for many early retirees coping with the change to a slower pace, a loss of identity and social contact in the workplace. If we accept that these are potential issues before they arise, we should be better poised to adapt to the change of being "retired." By developing a side hustle before you retire is setting yourself up for a smoother transition into retirement.
How Side Hustles Contribute to a More Secure Retirement
Building multiple income streams can provide a cushion in case you outlive your private pension (subject to your own country) or your retirement savings. Side hustles can help bridge the gap between your retirement fixed income, and your desired lifestyle, ensuring that you have the freedom to explore new hobbies and passions.
Often people are forced to retire early on health grounds, but not quite ready to accept that reality. If you know that your own health is regressing, then a side hustle can be a perfect avenue to explore, and be your go-to income stream. Wouldn't be great to be able to sack the boss, and to be in such a financial position, that you no longer rely on that employee income.
Long-Term Financial Benefits of Having Multiple Income Streams
We agree that having a side hustle means you’re less reliant on a single source of income. Over time, these extra streams can compound or diversify to many, and adds to your future level of financial comfort. By investing in yourself with learning new skills can lead to automating your online income streams.You can continue to earn money well into your retirement years.
When you switch your brain to thinking like an aspiring entrepreneur, your motivation levels are evident. It just can't be helped when your mind keeps thinking about more business prospects or opportunites you wish to explore. As you develop your skills, it leads you to considering other income streams targeting completely different markets or audiences. Thereby growing your business income streams as you build your confidence and put into practice what you have learned.
A Sustainable Approach to Side Hustles Post-Retirement
Even after you officially retire, your side hustle will continue to provide both financial support and personal fulfillment. You are no longer giving your time to an employer, nor doing the long commute. And by leveraging just 1-2 hours a day, or a week, side hustles can exponentially give you so much more back in time and money.
Plus these days, we have AI. We are learning to embrace this technology, and it is being used more and more in our side hustles. The use of AI frees up even more time, to allow us to spend it doing our other pleasurable activities.
Many retirees find that their side hustles evolve over time, allowing them to pursue new opportunities, to match their lifestyle. Unquestionably, the budding entreprenuer is always thinking of new revenue streams and ways to improve the lives of many.
Conclusion
Starting a side hustle before you choose to retire, is one of the best ways you can ensure a purposeful and fulfilling retirement. It should allow you a smoother transistion to this next life phase. By choosing a side hustle that aligns with your interests, health goals, and passion, you can enjoy a flexible lifestyle that brings both financial rewards and personal satisfaction. So, why wait? Start building your side hustle today, and watch it transform your future.
FAQs
- What is the best side hustle for pre-retirees?
The best side hustle depends on your skills, interests, and financial goals. Popular options include freelancing, affiliate marketing, and online tutoring. - Can I do side hustles after retirement?
Yes! Many retirees continue their side hustles after retirement, enjoying the financial flexibility and purpose they provide. - How do I balance my side hustle with my health?
Choose a side hustle that supports your health, such as online fitness coaching or selling health-related products. Also, ensure you set boundaries to avoid burnout. If you like to participate rather than create health related programs: then building a side hustle is possible to even make your job optional. When fully retired, it gives you a purpose, and flexes your brain as you learn new skills and put them into practice. - Will side hustles improve my financial well-being during retirement?
Absolutely! Side hustles can provide extra income that helps fund your retirement savings, pay for hobbies, or reduce financial stress. - How can I ensure my side hustle aligns with my ikigai?
Find a side hustle that combines what you love, what you’re good at, and what the world needs. This will make the work more fulfilling and purposeful. - What if I do not know what to promote or sell? We often see this, and it should not put you off at all. Part of our program is dedicated to just this. With the help of our experts, you can find what you are good at and is unique to you that you can share with others and monetize.
A Little About Me
I have been in the financial services industry in New Zealand for over 16 years. With being both a qualifed Financial Adviser and a certified financial planner CFPcm; I work on a day-to-day basis with retirees and those thinking about retirement. I am married and have three grown children of which our oldest has defined me in so many more ways than I expected. She has made me so empathic to the disability sector with all her complex needs.
My Digital Marketing Journey To Date
It seems timely for me too, that I am contemplating my own retirement years and what that is going to look like for me. I love helping clients with their own retirement journeys. I find that sometimes there is not enough of a nest egg to rely on for them over the next 25- 30 years. The conversation often defaults to; "we must keep on working". But not anymore.
The ability to earn income online is so accessible these days, that anyone can actually do this once you know the how. My curious nature meant I wanted to find out how this all works as it was completely foreign to me. I started exploring ways to create online income streams, with the idea of writing ebooks on retiring in affordable countries. But soon, I realized there were many more opportunities in the online world than I had imagined.
Initially skeptical of flashy marketing and expensive courses, I eventually found a genuine program that offered a vast range of content. I discovered that it appeals to the masses, as often we find that many people want to make money online but not sure where or what to start. It opened my eyes to the multiple possibilities of earning online. Because of the diversity on offer, I shifted my focus from just creating ebooks, to exploring other possible income streams that could support me in retirement.
Incidentally, out of all the side hustles mentioned- I initially chose affiliate marketing. It provides a great way to build on the skills you have gathered. Putting what you learned into practice becomes the best way to learn. We call this 'experiential learning. ' It took me a few months to get through the self-paced study modules. I chose to opt into the additional group coaching that is offered inside this program to fast track my progress. It allowed me to gain confidence to launch adverts and generate sales within 6 months.
In my second year of this digital marketing journey, I am planning to add in other revenue streams. Marketing my own course content is next on my agenda and I plan to launch that in mid-late 2025.
For me, I’m passionate about helping others, especially those approaching retirement. Empowering those that want to learn how to build their own income streams. With this online learning platform and community, you can build side hustles. You can achieve so much more than you first imagine, and find a sense of purpose to life.
I’m also incorporating my love for long-term health and positive aging into my journey, aiming to inspire others to live fulfilling, healthy lives as they age.
Ultimately, my goal is to help people live their best lives—financially secure and healthy—on their own terms.
All clickable links are my affiliate links and I thank you in advance if you choose to click and buy through these links.
Brenda's Story
I had the pleasure of meeting Brenda in February 2024. I was blown away that she has been earning online for well over 10 years; with her multiple side hustles to support her retirement lifestyle. You can watch her journey below.