The CEO of Goldman Sachs has a side hustle and maybe you should too.
You read that right! According to The New York Times, David Solomon, the CEO of Goldman Sachs is also known as DJ-D-Sol. Everyone seems to be getting in on the side hustle these days and for good reason.
Find out why the empty nest is the perfect time to explore a side hustle and learn which one is right for you.
What is a side hustle?
A side hustle is any form of income that you earn that is not your main source of income. While it is unlikely that Solomon is doing it for the money, he does believe that having multiple interests is good not only for your career, but for a balanced life as well. Maybe Solomon and the 44 million other Americans with a side hustle (according to a recent Bankrate study) are onto something here.
Why side hustles are perfect for empty nesters
There are many reasons that side hustles are appealing, and for empty nesters with more time on their hands, this may be the perfect time to explore how this could work for you. Without the endless after school, evening and weekend activities that consumed your family’s free time, you may be looking for interesting new ways to fill the void. Side hustles allow you to earn extra money, pursue passions, share expertise, develop skills and explore and test the waters for possible new careers.
Where do I start – Five questions to ask yourself?
There are so many possibilities it might seem daunting at first. The first step is to figure out which type of side hustle is right for you. In future articles we will explore each one in depth, but for now lets begin with deciding where to start.
1.Do you have a hobby where you make things?
If you answered yes, you might want to consider turning your hobby into a business. There has never been an easier time to do this than now. Consider these ideas:
- Sell your photographs on Shutterstock
- Sell your homemade crafts on Etsy
- Sell your designs to be printed on products on Society6, Cafe Press, or Merch by Amazon
- Become a personal Chef on HireAChef
2.Are you an expert at something?
You don’t need to be the leading expert in the world to make this side hustle work for you. You just need some solid skills that people want to learn. The internet is filled with people seeking ways to learn skills and you can help teach them. Consider these ideas:
- Create an online course on Udemy
- Become a tutor on Wyzant
- Teach English as a second language with VIPKID
- Freelance through Fiverr, Upwork, or 99 Designs
- Write an ebook through Kindle Direct Publishing
- Answer questions on JustAnswer
3.Do you want to join the gig-economy?
The gig economy has made it easy to take on part time jobs. Consider these options:
- Do errands with TaskRabbit
- Babysit with Care.com
- Become a tour guide with ToursByLocals
- Grocery shop with Instacart
- Walk dogs with Wag!
- Become a driver with Uber or Lyft
4.Do you have things you can share?
- Rent out your home on Airbnb
- Rent out your car on Turo
- Rent out your tools on NeighborGoods
- Rent out your designer clothes on Styleland
5.Do you like going online?
- Sell items on Ebay
- Fill out online surveys on Swaybacks or i-Say
- Become a virtual assistant on Belay or Fancyhands
- Complete small tasks on Amazon’s Mechanical Turk
- Consign your clothes on The RealReal, ThredUp, or Tradesy
Lets start exploring together. We will be featuring a series of articles that will explore side hustles in depth. In the meantime we would love to know if you have a side hustle now or if you are you considering one? If so, please share your thoughts and experiences in the comments below.
We absolutely do have a side hustle now, and love it! Helping people create extra income is so rewarding , and the vehicle we’ve chosen has the added perk of getting paid to live healthier, longer! It allows us to create our retirement income stream from anywhere with WiFi!
I agree it is the perfect time to find yourself again and do something for you.
Happy Mother’s Day, Kippi #kippiathome
I wrote an article on this topic for one of my freelancing clients but I think side hustles are great for everyone! I started a side hustle as a new mom and it eventually became a six-figure business, so I’m all about starting side gigs.
I was thinking of doing this while Im in college so I could earn a little extra money on the side. I might actually sell pics in shutterstock
I have a new side hustle – my blog! But, I like some of the other ideas that you have listed on here that I never crossed my mind. Maybe I’ll give one of them a try as well. Looking forward to the relating posts to come.
Love side hustles!! They always make for a great source of extra income 🙂
These are great tips! As an emptynester and travel blogger, always looking for some practical and authentic side hustles!
I think when my kids go off to college, I would love to pick up some hobby and make money from it. It would actually be fun! Right now life is all about the kids haha.
I love the concept of side hustles! I think any time is a great time to take on one or more, but you are correct – we do have more time now to try these kinds of things. Your list is a great compilation of ideas! Thanks for a great post!!
omg yes this idea is the so key especially when i was in college i always had a lot of part time jobs to help out.
This is actually one of the more helpful posts I’ve seen on side hustles. Saving for future reference!!