Part time gig ideas for retirement?

[albireo13]

Hi,
I am in high tech, electrical engineer for MegaCorp. 61yo and looking to retire soon. I think I'd like a part time gig to trickle in some $$, to supplement income from savings. This would help me push out pulling on SS to 70yo, I hope.
Anyway, I'm looking for some suggestions from other folks who have done the same. Doesn't have to be in high tech.
Selling wood staoves or being an Uber driver would be fine.

Something that would pull in >$1000/month would be great. Also, not looking for high-pressure, schedule driven work. I'm all done with that.

Would love to hear some success stories and good suggestions.


Thanks.

 

[daylatedollarshort]

I do a combination of little things. I like looking for freebies and bargains. In a good month I can get $1K - $2K of freebies, easy side income, comp tickets and discounts, much of it non-taxable. This in turn helps lower our MAGI, which makes us eligible for ACA tax credits, equal to ~$13K for 2016. I also look for novel ways to lower our recurring expenses. $1K a year overhead reduction = $50K less in total funding required over a 50 year potential retirement. So (($1K overhead reduction X 50 years) + $15K side income / savings + $13K ACA tax credits = $78K).

We have a couple of little tech businesses we've been winding down. That work pays more per hour but is becoming a bit more like the movie Groundhog day since that has been my life career while my other little hobbies are more new and interesting to me.

 

[RunningBum]

You may not like the answer, but my solution was to work an extra year or two at my regular job. I was tired of filling out TPF reports like I think I saw you posted in another thread, but I was able to go part time and work from home. At ~$60/hr it was a lot better than finding something a small fraction of that rate.

My brother tried Uber, but said he wasn't making much and it wasn't worth it. I don't know the details.

My dad tried being a WalMart greeter, but lasted about 2 weeks. I think being new he got the worst hours, plus it just wasn't what he pictured.

Another year at your job might be worth 5 years or more of working something like you are talking about. You don't necessarily need steady income until you start taking SS, you just need enough income. Maybe you could do contract work?

 

[gayl]

Tax preparation. .... I did that for a few years. Takes only 160 hours of education + exams + bond + additional 20 hours per year to become/remain certified. Full work load possible (up to 40hrs week × 24 weeks) January - April, September - October. Light when quarterlies are due unless you work for a storefront. Then it's just February - tax deadline (so 10 weeks). My salary dropped to $25 an hour (15k yr) but that was fine.

 

[LRDave]

Gigolo is often brought up in this forum.

 

[albireo13]

I think I may pursue going reduced work hours .. maybe 32hr weeks, in a year or so.
I can tolerate the TSP reports for awhile but, the commute is starting to kill me.
I commute 1hr each way. That much sitting in traffic each day is making me feel like cr@p at the end of the day, not to mention the wasted time.

 

[hesperus]

I pull in about $700 month with my 'paying hobby', ie custom engraving. I certainly don't need the money, but it's fun to get paid for creative work. As a former architect, it's in my blood. I charge a reasonable rate of $100 hr for my time. Mostly now I do high end work on wood, metal, glass, etc. I find it to be a relaxing creative outlet with benefit$. I only choose jobs that are interesting to me.

 

[Blue Collar Guy]

I charge a reasonable rate of $100 hr for my time. .

We have vastly different definitions of reasonable.

 

[hesperus]

We have vastly different definitions of reasonable.

you mean vastly different 'opinions'.
But essentially it depends on what you can get done in that hour. My clients are always pleased

 

[Walt34]

A couple of guys I know liked working at a big box store such as Lowes or Home Depot, another didn't like it because he got what he thought were lousy hours with short notice. One significant difference is that the latter one was doing it because he had to, the others were doing it because they wanted to.

I did a post-retirement job doing armed security for a few years, but it was low stress, very short commute, and the hours were easy for me. When things went south I quit.

When the job is optional the bureaucratic BS just doesn't seem to matter much.

 

[Souschef]

I had considered it, but I figured with 25% Federal, 9% state 7.6% SS, and 0.9% CASDI, I lose 42.5% of my earnings. It is not worth it,IMO

 

[Ronstar]

I do a little consulting on eminent domain cases. Interesting, but becoming a PITA. I have to be there for the client whenever the client desires, and that's a problem now that I have 100% retirement freedom.

I've sold a few woodworking pieces, and have done a couple of photography gigs, but it is tough for me to enjoy a hobby when someone else is calling the shots. Takes the fun out of the hobby. I want to do what I want, when I want, and that matters to me more than the $.

 

[aja8888]

This year I did a few engineering consulting jobs for my former employer. They were all local Texas and were associated with oil & gas production and processing acquisitions. This pays real well, but I don't seem to have my heart in it anymore. This is the last year I plan on doing these part time gigs.

 

[Luck_Club]

One of the happiest most content retirees I know drives a launch during the summer. @$16 an hour to look out at the water, and drive a boat, the pay isn't too shabby either.

 

[Aerides]

Are you a maker?

Etsy/Amazon handmade are good marketplaces if you make stuff. I liked making jewelry so I planned this out in advance of ER and it more than covers our HI.

 

[youbet]

I FIRE'd June 30, 2006. Other than collecting unemployment compensation for a while, I haven't received a nickle of compensation since. But I spend some time managing my investment portfolio, doing a better job of doing my own taxes, doing most of the maintenance on the house and cars for DW and I and our son's family, researching interesting but inexpensive RV vacations for DW and I, etc. If taking on part time work didn't pay well and it impacted my money saving activities around here, I suspect it would be a mistake. And I like not working for anyone but myself after decades at MegaCorp.........

 

[Blue Collar Guy]

I was offered 300 a night off the books to work at a night club. Hours were 10 PM to 4 am. So it really meant 930 PM to 430 am. I countered with $600 on the books, Im still waiting to hear back.

 

[flyingaway]

You may not like the answer, but my solution was to work an extra year or two at my regular job. I was tired of filling out TPF reports like I think I saw you posted in another thread, but I was able to go part time and work from home. At ~$60/hr it was a lot better than finding something a small fraction of that rate.

My brother tried Uber, but said he wasn't making much and it wasn't worth it. I don't know the details.

My dad tried being a WalMart greeter, but lasted about 2 weeks. I think being new he got the worst hours, plus it just wasn't what he pictured.

Another year at your job might be worth 5 years or more of working something like you are talking about. You don't necessarily need steady income until you start taking SS, you just need enough income. Maybe you could do contract work?

This is also my strategy. I would rather work for one or more years at my current job to remove the possibility of working many more years at some lower paying jobs in the future. (Build up my safety nets).

 

[brucethebroker]

Had a friend in FL who drove a shuttle bus from a hotel to the airport for a couple of years in early retirement. $15 an hour and very interesting. Another friend tried Uber and also did not make enough $ to offset the wear and tear (on the car). He found the best time to work is when bars are closing, but he was too tired to keep that up! I know a manager at a tire company looking for box truck drivers, $15 an hour, to deliver tires to dealerships locally. He literally cannot find anyone to hire due to drug screens, credit checks and past driving records. A guy showed up last week for an interview wearing shorts and flip flops............

 

[street]

I have a part time for 90 das a year. It is working outdoors for a research center that does AG research. It is a physical and hard labor but not that hard that it is unbearable. I wanted a part time gig to stay in shape and to be around people not to go cold turkey.

This is my second year with 90 days a year but I won't be doing it next year. I will focus on doing some yard work and helping a rancher or two when they need me. I have been home almost two week now and I hate to go back even thou I really like the work.

There really isn't anything like retirement. LOL

 

[CoolRich59]

There is a retirement blog I read (not sure of this forum's rules or etiquette, so I won't name the blog here) that has a feature on side jobs. Two that caught my eye as possibilities were dog walker/sitter, and parking lot cleaner.

Not sure what the money is like, but I love dogs and it should be low stress.

Cleaning up parking lots is definitely not glamorous, but the job had some nice benefits: flexible hours (so long as it's outside of business hours), you get some exercise, time to yourself (you could listen to podcasts, audiobooks, etc.). I can't remember what the money was like.

I do a little consulting on eminent domain cases. Interesting, but becoming a PITA. I have to be there for the client whenever the client desires, and that's a problem now that I have 100% retirement freedom.

I have already eliminated my profession (attorney) as a part-time gig for this reason. I recently had a family friend try to recruit me to support some start-up venture he was getting involved in. In his voice mail, he said I could choose my hours, work as much or as little as I wanted, etc., etc.

I called him back and got his voice mail. I said I wouldn't be able to connect the rest of that day (Saturday) and did not discuss business on Sundays, but could talk first thing Monday.

Disregarding that, he called me five times that Saturday and Sunday, sent me a couple of text messages, and then called my wife to complain I wasn't being responsive. And he wasn't even a client yet!

When we finally did connect, I made it short and sweet: Thanks, but I'm not interested.

 

[Senator]

Mow grass. It's great exercise and if you have a good mower, you can make $60 an hour. Cash.

 

[Ronstar]

3 more gigs that I have considered that could work for OP:

1. Drive new cars between dealers that are being used for dealer trades.

2. Drive a hospital van that picks up people and and brings them to the hospital for tests

3. Substitute teacher.

 

[pb4uski]

I think I may pursue going reduced work hours .. maybe 32hr weeks, in a year or so.
I can tolerate the TSP reports for awhile but, the commute is starting to kill me.
I commute 1hr each way. That much sitting in traffic each day is making me feel like cr@p at the end of the day, not to mention the wasted time.

My firm provided health insurance as long as you were 50% or more... most other benefits were pro rata (50% of FTE vacation allowance, etc.). I did that for many years before I finally retired.

How much do you need/spend? From what you posted in other threads there should be no need for you to even work part-time unless you are really keen to. What does FIRECalc say you can spend with 95% success?

 

[traineeinvestor]

I continue to do some very part time legal consulting - I enjoy it but would have no problem walking away if I lose interest.

I'm doing a degree in English Literature and was "asked" to teach an undergrad class last semester. I enjoyed it and if the opportunity to teach again comes up, I'd probably do it. Strictly part time of course.