Since I wrote What is a Halfpreneur almost 13 years ago, what besides my age and the world have changed? Well, the word “side hustle” is the term that most people now use to encompass the many ways of earning money from participation in anything from the gig economy to starting a business. However, Professionals often use the term “gig”, which supposedly sounds more professional. Seniors may not use the word hustle but simply call their work part-time or per diem jobs. Technology and social media have brought into being some new hustles and research indicates that having two or more side hustles has become increasingly common and that this trend will likely continue to increase across the working life span.
Demographics
As might be expected, the younger generations are more likely to have side hustles, including more than half (53 percent) of Generation Z (ages 18 to 26) and 50 percent of millennials (ages 27 to 42), compared to 40 percent of Gen X (ages 43 to 58) and 24 percent of Boomers (ages 59 to 79). However, side hustles can lead to starting a small business and the 45 to 55 age group is biggest age group starting businesses in the U.S. today, at 39 percent, with the 55 to 65 age group following closely behind at 38 percent.
With a tight economy in which “jobless growth” (low hiring and low firing) is the new normal, approximately 70 percent of the workforce is following Gen Z’s lead and turning to side hustles and small business. A full-time position and a side hustle is being considered a way of creating flexibility and work-life balance strategies to replace outdated workplace norms.
Side Stacking
The popularity of side hustles has given birth to a spinoff trend on the uptick called “side stacking;” a strategy to develop multiple side hustles alongside nine-to-five jobs, often allowing side stackers to earn several times their salaries. As they create parallel income streams, working multiple jobs simultaneously, they are stacking them to optimize their time and income to pay bills. Amanda Augustine, career expert at Resume.ai explains that side stacking is essentially a modern form of job security for many young professionals. “Instead of climbing a single corporate ladder, Gen Z professionals are choosing to build multiple income streams to protect themselves against an unpredictable economy.”
My experience is that side stacking is a new term for a work style that has been around for years. It has advantages and disadvantages. I did it for years as an adjunct professor, usually teaching 7 or 8 courses per semester by working at three colleges, in addition to running a resume writing/career coaching business. Side stacking can make work- life balance, a value many seek, difficult. But now that I’m only at one college and my resume writing business came to an end with Covid and the online pay only $99.00 resume sites, I’ve started developing a new side hustle/business, a coaching site for retirement coaching for “seniors” with and without ADHD.
Senior Side Hustles
The current estimate is that 24 percent of boomers have side hustles, but the research from Northwestern Mutual reveals that around 60 percent of future retirees expect to need a monthly income that’s the same or more than their current monthly income to retire comfortably. Life is expensive; increased longevity and an unpredictable economy is leaving many retirees with insufficient retirement savings. Working past 65, side hustles, and working part-time in retirement will most likely increase. Digital and remote work has made it easier for seniors to log in and increase their incomes.
47 Ideas for Your Next Side Hustle
So, have the ideas for being a halfpreneur and new side hustle ideas changed since I wrote my first post? Some of these 47 ideas culled from the Internet are on my 2013 list and others reflect the impact computer technology has had on our lives, but this is certainly not an exhaustive list, I’ve thought of several more hustles since I wrote this internet inspired list.
Digital creation
1. Social media management
2. Digital marketing
3. Website design
4. Website development
5. Data recovery services/IT consulting
6. Become an Influencer
7. Start a YouTube Channel
8. Start a podcast
Professional services: Side hustles from home
9. Business and executive coaching
10. Life coach
11. Professional consulting (real estate, accounting, …)
12. Bookkeeping/Financial services
13. Proofreading or copyediting
14. Freelance writing
15. Transcription service
16. Audiobook narrator
17. Tutoring
18. Music teacher
19. Genealogy
20. Seamstress:
21. Translator:
22. Babysitting
23. Home-Based Child Care
24. Dog walking and pet sitting
Side hustles: using your car or truck
25. Junk hauling
26. Become a rideshare driver
27. Take up food delivery
Artistic and creative side hustles
28. Crafting
29. Flipping furniture
30. Photography
31. Graphic design
32. Greeting Card Writer
33. Baking
34. Party entertainer
Sales side hustles
35. Reselling vintage clothing
36. Selling crafts,
37. Affiliate marketing
38. Online sales
Fitness side hustles
39. Fitness instructor
40. Personal trainer or Accountability Partner
41. Referee or coach for local sports
42. Lawn care
43. Gardener
Passive income side hustles
44. Writing an ebook
45. Selling worksheets
46. Selling stock photos
47. Creating an online course
I hope this list gives you some ideas for a possible side hustle. It certainly gives me some ideas for future blogs.
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