In this article, we will look at the 15 best side hustles for women over 50. We have also discussed the general experiences of women with side jobs. If you want to skip our detailed analysis, head straight to the 5 Best Side Hustles for Women Over 50.
The gig economy is flourishing as Gen Z earns the moniker "Side Hustle Generation," with 53% juggling multiple incomes. However, women, especially, face major challenges. Despite comprising 50% of multitasking Millennials, they encounter disproportionate hurdles in navigating within this dynamic employment environment.
The workplace inclusion and diversity survey of 2023 revealed stark gender disparities: 24% of women lacked pay raises in the past year, contrasting with 15% of men. Men were twice as likely to receive monetary perks. Moreover, 67% of men earned a median salary of $55k or higher, while only 39% of women did. Consequently, 40% of women felt underpaid, compared to 24% of men.
It is, however, still worth noting that older women in the labor market have undergone major changes as data from the Bureau of Labor Statistics has revealed some shifts in employment dynamics. During the pandemic's peak, women aged 55 and above faced huge job losses, amounting to almost 3 million positions that essentially translated a 17% decline. However, recent trends indicate a stable recovery, attributed in part to the Biden administration's economic interventions. The American Rescue Plan Act (ARPA) and the CARES Act also played important roles in bolstering unemployment benefits and expanding access to crucial support programs, promoting a swift rebound in employment rates for older women. Speaking of employment, do check out 20 States with the Highest Unemployment Rates.
Looking ahead, projections suggest a continued rise in older women's participation in the workforce. The Bureau of Labor Statistics forecasts growth in this demographic's employment between 2020 and 2030, with workers aged 65 and over driving more than 60% of labor force expansion.
This trend is also bidding farewell to some older patterns, as older individuals increasingly contribute to economic productivity. However, despite these increases, older women are also struggling with a plethora of challenges, including larger gender wage gaps and barriers to labor force attachment. Structural inequalities, compounded by factors such as ageism and occupational segregation, persist.
While many people wonder how to make money at age of 50, the US Census Bureau reveals, 18.4% of workers aged 65 and above are self-employed. Retired individuals are increasingly embracing entrepreneurship, often leveraging their hobbies for income generation. Whether through crafting, consulting, or online endeavors, retirees can capitalize on their interests to establish successful enterprises. Hence, side hustles for seniors are now becoming a common sight in the US. For the elderly, selling stock photos and transcribing audio are side hustles that can pay $3000 a month.
Two of the major players in the side hustles for women are Upwork, Inc (NASDAQ:UPWK) and Airbnb, Inc (NASDAQ:ABNB). We shall be discussing their relevance in the jobs below.
Our Methodology
To list the best side hustles for women over 50, we tried priorizing hustles with three main qualities keeping in mind the experience, physical health, and schedules of a person of such an age. Firstly, we tried to look for side hustles that are flexible with working hours and adaptable schedules, Secondly, we tried to target jobs or side hustles that demanded less physical activity. Lastly, we tried to look for side jobs that could capitalize on the already established skillset of people of this age with rich learning experiences. To determine the ‘best’, we tried to keep the above mentioned factors in mind. Each side hustle has been scored out of a total score of 30 based on the perceived availability of these factors. To determine the perception and public opinion, we largely relied on Reddit threads as our primary source.
By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
A virtual crafting workshop offers over 50 women a fulfilling side hustle by capitalizing on their wealth of experience and skills. With flexible schedules, it allows them to monetize their passion for crafting while maintaining work-life balance.
14. Freelance Writing
IM Score: 11
Freelance writing via platforms like Upwork Inc (NASDAQ:UPWK) is an ideal side hustle for women over 50. Capitalizing on their lifetime of knowledge and expertise, they can craft engaging content on different topics, enjoying flexible schedules and remote work opportunities.
Women over 50 can leverage their extensive experience and expertise to enter the consulting field through platforms like Upwork, Inc (NASDAQ:UPWK). Firstly, they should identify their niche based on their skills and professional background. Next, they can create a compelling profile highlighting their qualifications and accomplishments. Utilizing Upwork, Inc (NASDAQ:UPWK)’s network, they can connect with clients seeking their specific expertise, whether it's in areas like business management, marketing, or coaching. It is also one of the best side hustles for people over 60.
12. E-commerce or Online Retail
IM Score: 14
E-commerce, particularly through platforms like Amazon.com, Inc (NASDAQ:AMZN) offers a perfect side hustle for women over 50 for several reasons. Firstly, it provides flexibility, allowing them to work on their own schedule and pace, accommodating other responsibilities they may have. Secondly, it taps into their wealth of life experience, enabling them to curate unique product selections and provide exceptional customer service. Additionally, the low barrier to entry and minimal startup costs make it accessible to anyone willing to learn. Moreover, the online nature of the business eliminates the need for physical storefronts, reducing overhead costs
Many women in this demographic have honed their cooking talents over the years, making them adept at creating delicious meals for different occasions. Platforms like Thumbtack, TaskRabbit, and Care.com in the US provide opportunities for women to earn money with this side hustle. It can be one of the best side hustle for retirees. The average price of booking a private chef is $50 to $200 per hour in a state like Ohio.
10. Health and Wellness Coaching
IM Score: 17
Platforms like BetterUp, Noom, and Coach.me offer opportunities in the US. These platforms provide access to clients seeking personalized support in areas such as fitness, nutrition, stress management, and overall lifestyle improvement.The average salary for a Health Coach is $18.98 per hour in United States.
It is one of the great side hustles for seniors from home.
9. Teaching English
IM Score: 18
English language teachers are helping an increasing number of immigrants and English Language Learners (ELLs) in the US acquire proficiency in English. To teach English in the US, a bachelor’s degree is often required, preferably in English or related fields, while TEFL or other teaching certifications are beneficial, particularly for those without an English degree. These teachers can find opportunities in different settings like public schools, language schools, volunteer programs, and private tutoring. It is one of the easiest and most profitable side hustles.
8. Hair Stylist
IM Score: 20
Hairstyling offers flexible hours, low start-up costs, and the chance to tap into a lifetime of experience. With growing demand for personalized services, mature women bring a wealth of skill, empathy, and style to clients. It's a fulfilling outlet for creativity and social connection, empowering women over 50. It is one of the low maintenance side hustles.
7. Provide Child Care
IM Score: 21
Providing child care is ideal for women over 50 due to their nurturing nature, patience, and life experience. It offers flexible hours, supplemental income, and the chance to engage in meaningful interactions. With grandchildren often grown, they can fill an important role in supporting working parents while finding joy in caring for youngsters.
6. Become a Rental Host
IM Score: 23
Renting on Airbnb Inc (NASDAQ:ABNB) can be a high paying side hustle, especially for women over 50 looking to generate extra income. Take, for instance, a couple who earned $13,000 in passive income within just over a month by renting out their properties on Airbnb Inc (NASDAQ:ABNB). With minimal effort — only one hour of work per week — they managed to largely supplement their income.
For example, wedding photographers Stephan Alvin and Adriana Krause bought two homes strategically located in Rio de Janeiro and Oakhurst, California, to cater to their business needs and family proximity. By listing these properties on Airbnb Inc (NASDAQ:ABNB) while they're not in residence, they've generated huge income, totaling $18,000 in just nine months. Despite initial investments and ongoing expenses, the returns have been considerably high, illustrating the viability of Airbnb Inc (NASDAQ:ABNB) rental as a profitable side hustle, especially when managed efficiently.
It is one of the most popular side hustles for couples.
