Great ways to make money when you’re over 60
Over 60s are finding ways to make money like you wouldn’t believe! Loads are doing it too. For a start, according to Aldemore, an increasing number of new businesses are being started by the over 50s
(and many of those are well over 60).
With returns from savings low and cost of living rising, finding ways to supplement income elsewhere has become a necessity for many who have already retired. For a start, over half generate an extra income from selling on internet websites. The extra cash generated is used to pay bills, go on holiday and reinvested into savings accounts for day to day living. We’ve put together a list of the best money-making ideas for the over 60s so take a look and see what suits you.
Be a Doula
Sorry men, this one tends to be for ladies only. Basically, this involves using your experience as a mother (or grandmother) to help families with a new baby. You support the mum-to-be during her pregnancy and often after the birth too. Sign up to an agency which will train you and place you with families. Doulas in Britain make, on average, about £10-12 per hour for post-birth work and £200-400 for a birth.
Do you play a musical instrument? Or speak another language? Perhaps your talent lies in writing or pottery? Whatever your skill is you can make money from it by tutoring people or groups and charging by the hour.
Run an ironing service
If you can iron a basket of crumpled shirts with your eyes closed (don’t try it!) then providing an ironing service could be the answer to your cash-flow problems. Best of all, you can do it all from your own home and the set-up costs are minimal.
House sitting / dog sitting
One of the best things about house sitting is that over 60s are usually much more in demand as house sitters than younger people. This is because they tend to have more experience running a home plus the flexibility to sit during holidays and weekends. House sitting is a job that you can do as a couple, so it’s a fantastic way to spend some time together and make a little extra money. You can start by joining an agency like Trusted Housesitters, who’ll match you up to suitable clients. Working with an agency may be the best option if you’re a little nervous about house sitting for a stranger. They will often arrange a meeting between client and sitter to make sure you know exactly what’s expected of you. Some agencies also have insurance to cover you should anything go wrong. The other option is to advertise yourself as a house sitter. Post an ad on Gumtree – place it in the ‘work wanted’ section explaining how much you charge and where you want to house sit.
Cash in on your hobby
If you’ve got green fingers or love to bake then there are plenty of ways to make money with your talent. Why not sell your baked goods at a car boot sale or even a local shop? If you’re no longer working you can use your free time to offer your gardening services during the week when other part-time gardeners may be unable to work. You can do anything from basic upkeep of gardens to pruning and planting flowers. You could grow your own fruit or vegetables and sell them for a profit. You can also make good money by propagating seedlings and selling the plants at car boot sales. Start by gardening for friends and neighbours. If they spread the word you could end up with more paid work. You don’t have to be an expert either; if you don’t know where to start there’s loads of help about:
• Buy a good gardening book like the one by Alan Titchmarsh, or the RHS Gardening Month by Month guide
• Get some advice from a local garden centre helpdesk
• Check out the Royal Horticultural Society and Garden Advice websites
Don’t forget that you can also make your own compost and sell it. Get a discounted compost bin from your local council. Enter your postcode into this search box to see where you can get one from and how much it’ll cost.
If you love the companionship of dogs but don’t want the responsibility of owning and looking after one full time, dog walking could be the perfect way for you to earn some extra money. Register yourself with a dog-walking company like Narps, or keep it simple and look after the pets of people you already know. Expect to make around £6-10 per walk. You could also take it a step further and actually look after an animal in your own home while the owners are away. Join a company like Barking Mad as a ‘host family’.
Rent out your garage or parking space
If you live near a sporting or music venue, university or hospital there’s a very good chance you could make money renting out your driveway or garage space. Also, if you live in a tourist or coastal area you may be able to rent out your parking space during the holiday season. You can also rent out your garage for storage of equipment. This is particularly useful in big cities where storage is an issue for many people. Register with JustPark and Park Let to let thousands of people know about your space.
Rent out your garden
For those who are 60 and over, a big garden can eventually become a bit too much to look after. If this sounds familiar then you could divide up your garden and offer people your unwanted space to grow vegetables. Allotment patches are booked up for years in some areas so you can really cash in by offering someone a patch in your garden for them to use. Spareground is a useful site where you can register and advertise your garden space (or anything else) for free. Again you should also post a free ad on Gumtree.
Rent out your spare room
If you’ve got a spare room that you don’t need then turn it into a moneyspinner by renting it out. You choose who stays and for how long, so it really is a good way to make money with little hassle. Advertise your room for free on Easyroomate or Gumtree. You should also consider taking in foreign students on a short-term basis. Depending on where you live and how nice your place is, you can make between £35 and £150 a week. For a long-term money-making scheme running a B&B is another option. You could make anything from a few hundred quid a month to a few thousand a month, depending on where you live and how many rooms you have. However, it can be hard work and it’ll take a lot of effort initially to get things going, so do consider it fully before you make any decisions.
(Article source: Money Magpie)