3 Great Ways to Earn Extra Income After 60
Posts about layoffs, unemployment, and rising grocery prices fill my LinkedIn. There are also updates on evictions and the tough times that come with job loss.
It’s the reason why I am giving serious thought to early retirement. I’ve been thinking about retiring at 62. I want to supplement my income. If I lose my job, I doubt anyone will rush to hire a 61-year-old.
If working-class adults struggle to earn a living, think about those on a fixed income. We all need a little help these days.
The income options I share will work for both retirees and those not quite ready for retirement. These are also ways that I have supplemented my income in the past, ways that I still use and recommend today.
You won’t get rich, but you can earn a little pocket money, pay a bill, or buy a few groceries. Of course, that all depends on you and how much time and effort you put into it.
So, here we go.
Instacart
Yes, I know food delivery, UGH. I did Instacart for a while when I was between jobs. I made between $300 and $350 per week. I worked mornings three or four days each week. Like I said, you won’t get rich, but it does help.
What you will do:
Shop and deliver food. It’s all done through the app. People order groceries, and you do the shopping for them and deliver the groceries to them.
How it works:
You look at the app, select the order you want to shop for, and deliver it. The app shows you the miles to drive for grocery delivery. It tells you which store to buy from and how much you'll earn.
Pros:
You pick your hours. You decide when you want to work and for how long.
You can cash out (get paid) daily if you’d like. They deposit the money into your bank account within minutes.
You can preview the order and the driving distance before you accept the order.
If you only want to shop at a certain store, you can. My favorites used to be Jewel-Osco and Aldi food stores.
Cons:
There is a lot of driving. If you are not a fan of driving or can’t drive, then this job is not for you.
The customers can be very picky. A lady once canceled her whole order after I checked out. She was upset because they didn’t offer the brand of bacon she wanted. I had to go to the customer service desk and return all the groceries.
Customers sometimes add heavy items, like cases of water, to their order after you accept it.
You may have to climb stairs to deliver some groceries.
My Experience: I enjoyed the flexibility. I could work when I wanted and for as long as I liked. I liked being able to get my money every day if I wanted to. But I did have an instance where a customer claimed not to have received their items. Luckily, I had a photo that showed the groceries on their doorstep, as well as the address.
eBay
My personal favorite. I have been selling on eBay for years! I work on it part-time. I add new items about once a month. In the last six months, I haven’t added anything new. I also have fewer than thirty items in my store.
I still average about $50 per month through my eBay store. It is a hobby for me.
I don’t advertise or anything. If I took eBay full-time and put in a lot more effort, I’m sure I could earn a decent income from my eBay store. It is possible; you can turn eBay into a full-time income.
What you will do:
Sell used, new, or in-demand items for a profit.
How it works:
You can find inventory in many places: your closet, friends, or thrift stores. I would suggest starting in your own home. Instead of throwing out those things you don’t want or need anymore, list them on eBay. Once you make that first sale, I promise you will get hooked.
Pros:
You can open an eBay store for as little as $4.95 per month.
You decide how much time you invest in your store.
It’s your business; you decide what you want to sell.
You can get your inventory from many places. Garage sales, your own home, thrift stores, estate sales, etc.
Cons:
Not a con, but if you want to make daily or even weekly sales, you will need to put in the effort.
USPS ships most items to save the buyer expensive shipping fees. Shipping delays can be common.
eBay fees: eBay charges a percentage of the total sale amount. This includes the item price, shipping, and handling.
There is a lot of competition.
Remote Customer Service
Here are 3 that I have worked with! The thing about Liveops, Working Solutions, and Arise is that you are not an employee. You are an independent contractor and not an employee. You choose when you work.
What you will do:
Answer customer service calls from the comfort of your home.
How it works:
After you sign up and finish the background check, you’ll get an email. It will tell you that you can pick a client. Once you select your client, the system will give you your training dates and times. Training times vary from 1 week to several weeks. This depends on the company you choose and the client you will serve. I’ve taken calls for some well-known companies, including Nike, Intuit, Pizza Hut, and Home Depot.
Pros:
You pick and schedule your hours. You decide when you want to work and for how long. Most shifts are in 30-minute time increments.
You do not have to leave your home.
They pay you every two weeks by either check or direct deposit.
If you have an earnings maximum because of disability or social security. This will be a good solution for you because you schedule your own hours.
Cons:
Training is not paid. If the training lasts four weeks, you will not receive payment for that time.
If you earn over $600 for the year, you will get a 1099, and you will be responsible for paying taxes on that income. They do not take taxes out of the checks you receive.
Some clients pay by talk time, and some pay hourly. Check the pay structure before picking a client. This helps you determine whether the company bases pay on talk time or an hourly rate.
You supply your laptop or computer. These three companies do not supply the equipment you need to perform the job. You must buy any headsets, monitors, laptops, or computers for the job. You won’t get reimbursed for these costs.
There you have it. Ways that I have earned extra income where it’s the norm to see someone older than 60 performing these duties.
If I have any advice to offer when doing 1099 contract work. It’s to stay organized and set aside between 25% and 30% of your income for taxes.
I encourage you to DOWNLOAD THE CONTRACTORS CHECKLIST. It will help you decide if contractor work suits you. Plus, it will keep you organized while you work as a contractor.
I prefer contractor work over the traditional 9-5 when I want to supplement my income. I need the flexibility it offers. I like to decide when I want to work, which allows me to control my income.
