Looking for ways to earn extra income but don’t know where to start? This question is a common stumbling block for anyone looking to start a side gig. And can be particularly daunting for those looking for a job after having been in a stable career for the better part of their youth. But the brilliant thing about side gigs is that they can be a viable source of income for just about anyone looking for a means to earn extra money. You just have to know where to look. So today, Aspen Senior Care presents our best picks for seniors looking for ways to earn an additional income.
LoveTEFL notes that teaching English to overseas students has become one of the most popular ways to earn an extra income today. If you have an affinity for language, enjoy teaching, and love to meet people from all walks of life, this may be the side gig for you.
Host Your Own AirBnB
Hosting your own Airbnb is a great way to earn passive income without really having to do anything. AirBnBs are ideal for holidaymakers who want to save on their accommodation expenses by renting out a space that is often more affordable than a fancy hotel. So if you have the space available, why not consider renting it out to earn some extra cash on the side.
If you have tons of experience in a particular area, why not consider sharing your knowledge with others? Again, this is so easy to do with technology at your side. Because if you don’t manage to find a community learning center nearby, online platforms like YouTube allow you to showcase your knowledge on a global scale.
How to Find the Right Side Gig
Now that you’ve reached a stage where you’ve decided you’re all in and ready to start that side gig you’ve been dreaming about, this begs the question: where do you start looking? As mentioned before, technology is where almost everything is these days. So looking for your ideal side gig is as simple as doing a quick search online where you’re bound to find what you’re looking for. Or better yet, Creative Lives In Progress suggests phoning a friend or using social media to connect with others searching for the same thing.
What You’ll Need to Consider
You’ll need to consider when starting your side gig if you want to turn your part-time gig into a full-time business eventually. Suppose you’ve always wanted to become a massage therapist or esthetician, for instance, but never had the chance to. If you decide that this is it for you and you want to pursue your dream further, you’ll also need to consider the type of business you want to file, what contracts you’ll need to sign to set up shop in your area, and what tax bracket you’re likely to fall into.
That said, LLCs are a popular business type that many new entrepreneurs are now choosing for its various benefits, including tax advantages, additional flexibility, the fact that it has limited liability, and so on. But suppose you feel like your plate is already full, and you can’t manage this area of your business yourself. In that case, a formation service can help you by filing your LLC paperwork, for instance, and is often much cheaper than other more conventional routes.
If you need to brush up on your business skills, consider taking some business courses. You could even go for an advanced degree like an MBA to gain knowledge of the latest software and concepts like accounting, leadership, human resources, and entrepreneurship. You can’t go wrong by taking classes online, which gives you the added benefit of going at your own pace and completing coursework anywhere there’s an internet connection. It’s also usually much more affordable than attending a traditional campus.
If Anyone Can Do it, You Can
In conclusion, if starting a side hustle seems like the best idea for anyone else but you, take heart that many people from all backgrounds, ages, and walks of life have managed to make their side hustles a success. And if they can do it, so can you.
Submitted by Aspen Senior Care Contributor Sharon Wagner.