Top 10 Ways to Make Money in Your 50s

As you approach retirement, the thought of more work can seem daunting. But there are ways to make money in your 50s besides getting a full-time job, or another part-time job if you already have one. You could pick up a flexible side hustle, use your space to generate income, or begin investing. 

Here are my personal recommendations for the best ways to make money in your 50s, including both online and local opportunities.   

1. Entry-Level Investing 

We all need money for the here and now, but if you're approaching retirement, you should absolutely begin investing. That might strike you as "easy to say, harder to do", but it's not anymore. 

Previously, investing was only for the wealthy; it was difficult and expensive. But the whole process has been democratized, with dozens of apps that can automatically invest the money you put in.  

You could use Stash, Fidelity, Vanguard, or Robinhood for traditional investments, and Coinbase or Gemini for crypto. There are loads of great options out there, and many of them allow you to begin investing with as little as $10.

If you do not have funds to begin, the suggestion below provides an easy way to begun earning cash. 

2. Earnings Sites (Freecash)

If you're looking for a side hustle to start in the next five minutes, earning sites are the way to go. Sometimes called "task platforms", these sites will pay to complete simple tasks like answering surveys, trying new games, or testing products. 

You complete tasks on the site, earn funds, and then choose how you want to withdraw your money. I personally recommend our own site Freecash, which allows you to withdraw via bank transfer or PayPal, and has the best earning rates and highest Trustpilot score of any task platform. 

Many of the tasks can be completed from your phone, so you could even work in bed, and we offer bonuses. $500 to the first user to make $5000 each month, and $50 to the first user to make $500 each day.  

Joining is free, and you can log in with Google or Facebook, take a look at the offers and how much they pay yourself. 

3. Child Care

With so many young families unable to afford to have one parent stay at home, there are now more opportunities for paid child care than ever before. 

Perhaps your kids have left the nest and your babysitting days are behind you, but I wanted to include this option, as it can be both rewarding and high-paying. 

It will be hard work, but you have flexibility in the jobs you choose; you could sit children during the day or night, working for a company or going independent, as a full-time nanny or a 4-hour per week sitter. 

And finding the work is easier now thanks to the emergence of online platforms like Care, where you can create a profile and look for child care opportunities in your area.  

4. Odd Jobs

You're only as young as you feel! Seriously, though, many of you will still be more than capable of physical work. And thanks to odd job platforms like TaskRabbit, finding opportunities to help people is easy. 

And no, you don't need to be proficient in DIY. For instance, when I used TaskRabbit, I was paid well for a number of gigs that involved helping to move heavy items and putting together Ikea furniture. 

If you know a trade, you can earn really well doing odd jobs, and could turn this into a flexible alternative to replace full-time work. 

5. TV/Movie Extra Work

Although the work is irregular, I had to include this gig. It's incredibly fun, and a great way to earn a little money (best used in conjunction with other ideas).

Film crews are always on the lookout for extras, now called background performers, and they normally have difficulty finding people in their 50s or older.

By signing on yourself through agencies like Central Casting, or a locally-focused agency in your city, you might find yourself on your favorite TV show sooner than you think.

You can normally expect around $100 for a day of filming as an extra, so not a big earner, but a fun way to earn some additional income. 

6. Rideshare or Delivery

If you have a vehicle, signing on to apps like Uber or DoorDash can provide a reliable way to earn income in your 50s.

You get a lot of autonomy to pick and choose jobs, there is often very little customer interaction, you can listen to music or a podcast throughout your shift, and with these industries still growing you won't have difficulty finding work. 

The only real difficulty with starting out as a rideshare or delivery driver is getting set up and filing your taxes properly. A lot of the intricacies here depend on your state, but speak to the company you want to enroll with, and they will be able to provide you with local resources. 

7. Rent Out Room or Car

You don't need a whole property to begin renting. You could rent a single room on AirBnB on a nightly basis, or even your car (if you don't use it much) via platforms like Turo. And with very little effort, you can begin generating hundreds of dollars monthly. 

Car renting requires effectively zero effort from you, however, with renting single rooms via AirBnB, you will need to spend at least an hour a day answering messages, welcoming guests, and cleaning. So it should not be thought of as completely passive income. 

8. Selling Crafts

Say it with me, "Etsy". This platform has changed the game for individuals who know a craft, and you can now make genuinely decent income from selling handmade goods.

Plus, thanks to the sheer range of products on Etsy, you can find buyers no matter how obscure your craft. You could paint on commission, sell personalized jewelry, or crochet for cash. Hell, you can even buy "spells in jars" from so-called witches.  

If you are interested in pursuing this idea, I would suggest you start with a very small range of products that are competitively priced, focusing on fulfilling orders and raising your rating. Then, when you become more established, you can focus on profitability. 

9. Pet Sitting / Walking

If you are free during traditional working hours, you can take advantage of all the young professionals who bought pets they don't have time for. Many of whom will pay good money for a trustworthy 50-year-old to look after their pup. 

With a nice animal, this work can be relaxing and healthy, providing you a paid opportunity to get outside and exercise. With naughty pets it won't be as pleasant, but these jobs can be avoided.  

You could create a post on NextDoor to advertise your services locally, or by using one of the many online platforms for pet care, like Rover or Wag. And you will probably be surprised by how much you can earn for the hours required. 

10. Notary

Becoming a notary requires some work, including a course and an exam (search "become notary + your state" to find dozens of options), but once you are qualified this is a fantastic side gig. And thanks to online platforms like OneNotary, you can even work from home, though in-person notary work still pays more. 

In the vast majority of cases, all you need to do is turn up as a witness, check IDs, and watch your clients sign documents. It really is as close to "money for nothing" as you can get in today's economy, and an especially great job for an older individual as there is no physical work or stress. 

As mentioned, though, you will need to become qualified to start, which often costs up to $400.

How to Make Money in Your 50s 

A recap of those suggestions for you... 

Good luck, I hope you find the side hustle you're looking for!