Tips for a successful encore hustle - Hustler Daily Thumbs Up - October 25

Hello fellow Encore Hustlers

Side hustles are officially a cross generational phenomena.  Odd are if you don't have a side hustle then you know someone will have one.

This article, which focuses on millennial side hustlers, finds that the average side hustler makes over $1200 a month by working about 17 hours a week.  Think what you could do with amount of extra cash coming in every month?

The article also has some great points to consider when you are planning your encore hustle:

• Ensure it is something you enjoy
• Focus on tasks that generate revenue
• Build a strong social media presence
• Set goals
• Leverage word-of-mouth marketing
• Network with other side hustlers

Cheers,

Mr. EH

Consulting and knowing your worth - Hustler Daily Thumbs Up - October 4

Hello fellow Encore Hustlers

Consulting can be a very profitable second act for many encore hustlers.  So why not cash in on your years of experience and expertise by pursing a consulting gig?

At one time when Mr EH was working for a consulting engineering group we found that, in many cases, it was difficult to compete against retired engineers who could undercut our hourly rates.

In most cases they could earn more than they did pre-retirement, and they could still beat our rate sheet.

After all, a second act consultant didn't have our office overhead, and didn't have to pay for benefits such as health insurance, vacation and 401k.  Also, to find clients, they could tap into a rich networking pool of their former employers, customers, suppliers and industry committees.

If you are considering consulting, read this article from considerable.com. The article has good points about how how to prepare to be a consultant and how to get over the hurdle of negotiating your rates.

Also check out the website irelaunch.com which is dedicated providing resources to professionals returning to the workforce after retirement.

I would love to receive any comments or feedback from this post.  If you have ideas for posts or would like to be featured in a future post please contact me.

Cheers,
Mr EH

Advice on punching up your resume - Hustler Daily Thumbs Up - September 26

Hello fellow Encore Hustlers

Silver job seekers need to develop a plan on how to return to the workforce.  Dusting off and updating a decade old resume will not do the job of getting you a job.

Read this article that has plenty of good advice on preparing your campaign, including what what should be in a resume to make you stand out from the herd of younger applicants.

Cheers,
Mr. EH

Encore hustles are the new norm - Hustler Daily Thumbs Up - September 25

Hello fellow Encore Hustlers

Readers of this blog know that for a number of reasons, good and bad, pursuing encore hustles has become the new norm.  Walk into any store, office or restaurant and the odds are on the side of seeing someone over 65 working there.

Read this great article from the Chicago Tribune that combines fascinating factoids from the US Bureau of Statistics, like the 165,000 seniors working in grocery stories, and thumbnail profiles, like the 70 year old who juggles two jobs, catering and bartending.

Cheers,
Mr EH

Transitioning to freelancing - Hustler Daily Thumbs Up - September 15

Hello fellow Encore Hustlers

There is a certain allure associated with the word freelance.  It has roots with the medieval term for a knight for hire.  Now it brings to mind mind thoughts of being independence and working for the highest bidder.

For those of us who are approaching, or are in retirement, the reality is much more mundane, according to this article from the New York Times.  The article cites statistics sourced from the Freelancers Union indicating 30 percent of Americans over the age of 55 performed some sort of freelance work in 2018, with freelancing being defined as any sort of independently contracted work, running the gamut from driving for Uber to being a consultant.

For many of that cohort of senior freelancers the extra money covers daily expenses or bolsters retirement saving.  However, for some, the decision to freelance is forced upon them by late career layoffs and the inability to find full time employment of equal pay and caliber.

If you fall into that category, or have already retired and are planning to return to work, via the freelance route, then the best course would be to put serious planning before you launch the website or print the business cards.

As a good start, Mr. EH recommends heading over to AARP's Work for Yourself at 55+ and download their toolkit with plenty of information on how to brainstorm, build a business plan, avoid common mistakes, plan for taxes and reach out for support and mentorship.

After all, freelance medieval knights didn't rush into battle without a strategy and a sharp sword.  It's better to be Ivanhoe than Don Quixote.

Cheers,
Mr. EH

Seattle Seahawks Encore Hustle - Hustler Daily Thumbs Up - September 13

Hello fellow Encore Hustlers

Supporting the Seattle Seahawks is a bit of religion in the state of Washington.  And I am not joking since I have a seen a Catholic priest wearing the trademark blue and green under his vestments during Mass on game day Sunday.

If you are fan of the S'Hawks then why not check out this story about the partnering of CenturyLink Field (home of the Seahawks) and AARP to hire seniors to work part-time (30 hours a month max) at the stadium on game days.  There are hundreds of positions available, including ushers, security, catering servers, concession cashiers, cooks and suite managers.  CenturyLink is focusing on hiring older workers because of their experience, dedication and passion they bring to the job.

And if being a Seahawk fan if not your cup of tea then how about working at a FC Sounders game, who also play at CenturyLink,  or at a Morrissey concert at the adjacent WAMU Theatre.  They all need event workers.

Go to this link for the upcoming September 25th job fair at CenturyLink.

Go S'Hawks!!

Mr. EH

A stand up encore hustle - Hustler Daily Thumbs Up - September 11

Hello fellow Encore Hustlers

Most of us think we can tell a joke and are just naturally funny.  Well its one thing to get a laugh out of friends and coworkers but its another to stand up in front of a crowd of strangers and try out your material.  Especially when speaking in speaking in public is identified as one our greatest fears.

So imagine what it must be like to decide to take up standup comedy at age 65.  Read this story about Marty Ross, who did that after working 47 years in Manhattan's clothing industry, and has been making making a name for himself as the Wrinkled Rebel on the comedy club circuit.  Also check out his AARP produced video on YouTube Date My Grandpa.

Cheers,
Mr EH

The working from home encore hustle - Hustler Daily Thumbs Up - September 7

Hello fellow Encore Hustlers.

Thanks to the internet there are thousands of opportunities to work from home (or remotely from any location).  It is win-win situation for both employers and employees.

For the employer a remote employee eliminates the need to have maintain costly office space and provides a workforce with flexible schedules that are especially needed for customer service positions.

For the employee a work from home job means you can kiss the commute goodbye and allows you to use geographical arbitrage to live in a low cost of living region that may not have the best paying opportunities.

The prerequisites to pursuing these positions may include:

• good internet connectivity
• Windows/Mac PC or laptop
• dedicated phone line
• telephone headset
• webcam
• printer 

If this seems like a big investment the good news is that many companies will supply the hardware or will provide an allowance.  Also many companies may subsidize yourdedicated telephone/internet monthly fees.

Check out this link from singlemomsincome.com that features several companies that are not only hiring for work-from-home positions but also offer benefits, such as 401k's and medical insurance. The list includes:

• Apple at Home 
• Carnival Cruises 
• American Express
• Hertz

Mr EH especially likes the benefit package for Carnival, that in addition to a matching 401k, includes tow complementary cruises a year and discounts for friends and family.

Cheers,
Mr Eh

Store your neighbors stuff for $$ - Hustler Daily Thumbs Up - September 2

Hello fellow Encore Hustlers

Making money through passive income is a great encore hustle.  In past posts I have highlighted apps and websites that match you with people who are willing to pay to use your RV, boat, pool, garage.

Now check out this story about Neighbor.com who wants to be the Airbnb of storage.  Their site allows you to list your basement, garage, RV pad or backyard shed and they will match you with people how are looking for temporary or long term storage of personnel/business items, cars, boats and RVs.

Neighbor.com also handles payment, customer vetting and insurance so the only thing you have to do is clear out your basement or shed and collect some extra cash for SOPS (storing other peoples stuff).

Cheers,
Mr. EH

Use community resources to kick start you encore hustle - Hustler Daily Thumbs Up - August 30

Hello fellow Encore Hustlers

Mr EH has been a lifelong lover of public libraries.  One of his fondest childhood memories is being allowed to apply for an adult library card while still in elementary school.  Libraries continue to be a great resource and not just as a place for books, DVDs and periodicals.  Today libraries offer a multitude of programs for the community and can be the place to kick off your encore career.

Check out this story about the Arlington (Virginia) County Library System and their hosting, throughout September, of a series of programs for retirees, that includes workshops on helping seniors find their encore hustle.  The program is a joint venture between the library and the Arlington Employment Center, and the Alexandria/Arlington Regional Workforce Council.

The programs include job counseling, using social media for job hunting and resume writing.  The program also has a +50 job fair to match seniors with employers.

Check out your nearby library and see if similar programs are being offered.  If they don't, ask why not?

Cheers,
Mr. EH

Sniffspot, dogs gotta run and play - Hustler Daily Thumbs Up - August 24

Hello fellow Encore Hustlers

Do you love dogs?  Do you have a fenced in yard?  Would you be willing to let share that yard with apartment bound canines that need space to run and play, and make a few bucks at the same time?

Check Sniffspot, a new app that connects you with pet owners who are seeking a safe and private place for their fur babies.

Mr HH did a quick check of Seattle area and found 13 listings with rates ranging from $4 to $10 per hour.  Not a bad rate for a passive encore hustle.

If Mr EH had a tail it would be wagging.

Cheers,
Mr EH

Silverjobs in Singapore - Hustler Daily Thumbs Up - August 22

Hello fellow Encore Hustlers

Singapore, like many developed nations, is having to deal with an aging population.  Currently the Singaporean government is planning on rising the retirement age for its citizens from 62 to 70 any 2030 as a means of increasing pension payouts.  Also recent polls indicate that Singaporean seniors want to continuing working.

Read this story about how the Singaporean government is providing training and resources such a Silverjobs that match seniors with employers.  A check of Silverjobs has opportunities ranging from package delivery to engineering assignments, and positions are part or full time.

Cheers Mr EH

Aging brains: use it or lose it - Hustler Daily Thumbs Up - August 21

Hello fellow Encore Hustlers

One of the big fears and reasons for postponing retirement is the potential for cognitive decline after leaving employment.

Read this article on research from Florida State University that confirms this fear.  Even more worrying, according to the research, is that post-retirement cognitive decline is greater if your pre-retirement work is classified as low-cognitive-complex.  In others words retired university professors exhibit less loss of brain function than retired food-prep workers.  This is also exacerbated by the typical lack of cognitive challenging activities in retirement.

So if you looking forward to extended binge watching of Netflix as your primary retirement activity, then perhaps if might be worth considering working a few more years.  Your brain will thank you for it.

Cheers,
Mr. EH

Kiwi seniors working encore hustles - Hustler Daily Thumbs Up - August 15

Hello fellow Encore Hustlers

New Zealand, like most developed countries, is experiencing a "senior" moment.  Birthrates are declining, the workforce is shrinking and more people of retirement age are deciding to keep working.  Read this article about Seniors@work a new website that connects employers looking for older workers with senior job hunters, image a Tinder for silver workers.

As one senior Kiwi puts it, continue to work gives her life balance, purpose, social interaction and financial independence.

Cheers,
Mr. EH

Breakdown of best gigs in the US - Hustler Daily Thumbs Up - August 14

Hello fellow Encore Hustlers

Check this great infographic that summaries the side hustles by pay and popularity by state.  The data was collected by AppJobs that lets you search and compare app-based jobs by city.

The infographic has a slew of interesting statistics.  For example, Florida appears to be the top state for side hustle applicants, the most popular side hustle is delivery jobs and the best paying hustle is massage therapy ($27.84/hour).

Massage therapy pays more than double than pet walking/sitting ($13.17 per hour).

Curiously enough combining the two and becoming a pet massage therapist means you can charge $45 per hour, hows that for synergy.

Cheers,
Mr. EH

Encore hustles will add years to your life - Hustler Dail Thumbs Up - August 13

Hello fellow Encore Hustlers

Encore hustles are not only good for your bank account but they are good for your physical and mental wellbeing.

Read this story from Scotland that discusses research that reveals that working past 65 can lower the risk of premature death, better overall health and mental decline.

The story also features profiles of encore hustlers who are living examples of this research, my favorite being the 85-year-old rollerblade instructor.

Cheers,
Mr. EH

When retirement is not an option - Hustler Daily Thumbs Up - August 12

Hello fellow Encore Hustlers

For some people, their years of planning, hard work, and saving can unravel with one life changing event.  Read this story about Janet Beebe who at 70, continues to be the chief executive officer of a non-profit based in the Atlanta, Georgia area.

Her original plan of retiring at 65 with her husband, was derailed when he was diagnosed with Parkinson's at age 58.  Eventually his condition progressed to the point that required him to be placed in a full time care facility that costs almost $6,000 a month.

The care is not covered by Medicare, but fortunately their combined social security checks and savings are covering the cost for now.  Unfortunately for Janet, her retirement is not option.

But at least, for the moment, she is keeping the leaky ship afloat.

Cheers,
Mr. EH

Overwhelmed by medical debt and tragic consequences- Hustler Daily Thumbs Up - August 11

Hello fellow Encore Hustlers

In the last post Mr EH linked to an article about the dramatic rise in bankruptcy filing for those over 65.  One of the major reasons cited is resorting to credit cards to pay for medical bills.

Yesterday it was sad to read of a murder/suicide of an elderly couple in Washington state.  The husband called the local 911 dispatch and during the call he explained that fears over high medical bills were the reasons for the actions that he was about to take.  When police arrived to their home they found that the husband had carried out his threat.

According to court records the couple filed for bankruptcy in 2016 with credit card debits exceeding $120,000.

If you know anyone who is overwhelmed by debt due to medical expenses please reach out to patient-assistance organizations to help negotiate and deal with current medical debt and future expenses.

Cheers,
Mr. EH

Bankrupt in retirement - Hustler Daily Thumbs Up - August 9

Hello fellow Encore Hustlers

Read this Financial Times (UK) story about the dramatic rise of bankruptcies in retirees.

In 1991 the rate of bankruptcies for over-65's was only 2 percent.  A generation later the rate has increased sevenfold.

There are multiple reasons for this increase.  In that time pensions have largely gone away and retirement savings through IRA's and 401k's have proven to be inadequate to cover retirees who are living longer.  Also this longer live has led to increased medical costs that further drain savings.

Ofttimes the only recourse retirees have to cover daily living expenses it to use credit cards, which amazingly are offered, with credit limits of tens of thousands of dollars, to people whose only source of income is social security.

If you are retired and finding that your monthly expenses are perilously close to your retirement income, please consider an encore hustle to keep you out of bankruptcy court.

Cheers,
Mr. EH