Learn a New Skill
Just because you are 40 does not mean that you can't learn something new. In fact, the National Library of Medicine found that from 39-44, your cognitive learning skills are at their highest. Once you are in your 50s, thats when it can start to be difficult.
Your 40s are a prime time for you to get started in something new. There are also many courses that you can either start a completely fresh subject, or maybe sharpen your skills in something you are already familiar with.
Som of my favorite platforms that could help you get in some free courses:
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Udemy: Great space if you want to learn something technical, with free and cheap courses available.
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Coursera: Universally known to carry weight for your resume, Coursera has only had positive feedback on their free courses.
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Hubspot: I highly recommend Hubspot for some free courses that sharpen skills you already have worked on.
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Skillshare: Similar to Udemy, I found a variety of courses where you can learn for free from individual professionals.
To really put your skills to the test and earn some extra cash, I would recommend using freelance platforms.
Take on a Side Hustle
Side hustles are a solid way to earn extra cash, even I have one occasionally as it really helps boost income and allows me to invest more. Whether you are after something rather simple like pet-sitting and earning on Freecash, or maybe more complicated but long-term such as freelance writing. There is something out there for anyone, with any age.
Here are a few side hustles that I personally have tried, easily paying me up to $25 an hour:
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Freecash: This app rewards you for completing tasks like answering surveys, testing products, or playing games. I earned over $1,000 a month using this platform.
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Freelance Writer: Write on blog posts, product reviews (even Goodread counts), usin gfreelance platforms like Upwork.
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Freelance Graphic Designer: If you have an eye for design and aesthetics, you can create logos, Youtube thumbnails, or marketing visuals for clients.
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Pet-Sitter: Being an animal lover has its perks, and being a pet sitter has never been easier with platforms like Rover available. Simply create a profile and start taking on pet-sitting gigs.
All of these side hustles have paid decently, whether its through paid online apps or just scrolling through freelancer platforms.
Avoid Taking on Debt
When you are in your 40s, it is crucial to avoid taking on any more debt. These years are prime for you to actually start investing your money. Not only is retirement starting to makes it way into your horizon, but debt is always a money grabber.
If you want to make more money in you 40s, try to avoid paying more than you earn. Unless it is something you desperately need in order to survive, the likeliness of you ever needing to go into debt is very low.
Im not saying dont treat yourself to nice things, because those are well deserved. Instead of maybe spend thousands on a luxurious hotel or trip, go eat at a nice restaurant, or buy yourself a nice bottle of wine.
Invest in Stocks or ETFs
In your 40s, you are 20 to 30 more years away form retirement. This being said, investing is crucial if you want start earning passive income. Whether you want to start earning dividends or you simply want to have a good retirement.
There are a few good investment apps that I have found useful fo rnot only being from the US, but also living and moving into other parts of the world:
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Revolut: this is one of the best universally accepted fintechs that allows you to invest, save, and spend all in the same place.
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Fidelity: If you are from the US, I found Fidelity the easiest app that was strictly focused on investments.
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Coinbase: This app is great if you invest in crypto.
In your 40s, investing should feel easy to do, which is why I found these apps being the best options. There are of course plenty of other investment apps like Trading 212 or Webull, however they were not as user friendly, and can be harder to invest with.
You can alternatively play on Freecash and directly cashout your earnings. This way you dont need to use any monthly income. Just earn, and invest your free rewards effortlessly.
Create a Side Business
Side businesses are great to have in your 40s, my own dad created his business in his 40s, which led to my family being rather well off compared to his peers. Your side business could completely change your life if you put the time and effort into it. Honestly, I couldnt recommend side businesses enough.
You will need to spend atleast 3 to 4 hours a day on your business, however the return rate can earn you thousands (or on average $200 to $1k+ a month).
I got the average amoutn you can make hourly based on these top 4 ways people in their 40s create a side business:
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Youtube Channel: Reviewing products, creating courses, or just creating fun content on Youtube.
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Personal Blog: Blogs are a great way to earn passive income through affiliate programs and Google Ads.
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Podcast: Podcasts are a great way to build a brand voice, whether you cover though-provoking topics, or even review books to make some extra cash.
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E-commerce: If you are big in marketing, you could try your hand in e-commerce. Sell products and earn money by optimizing your brand globally.
To help you fund your side business, Freecash offers an affiliates program that could help you earn extra from your businesses monetization. Simply sign up to Freecash, start completing tasks, and copy your affiliates address to start earning.
