💪🏼 5 easy side hustles [Special issue]

Special Issue

One of the most common requests we get from readers is…

“How can I make more money so I can save and invest?”

So I’m writing a special issue today to give you some ideas. I also made 3 YouTube videos covering the topic (link below).

🐩 Check out the list below. #5 is the real money maker if you love dogs.

The benefits of having a side hustle are:

1) extra income to live on or reduce how much you need to draw from retirement savings or boost how much you can save and invest

2) tax deductions and

3) engagement to keep your mind sharp and your interests alive.

So let’s talk about 5 easy side hustles that require no experience.

First, the best side hustle is one where you have experience (because you can charge more, but today we’ll talk about work you can easily do with no experience.

(If you want more ideas on How to Make Money in Retirement (or anytime), if you have experience, then watch this video.)

Work from Home on Your Own Time

Online surveys

Companies like SurveyJunkie, Swagbucks, and Amazon Mechanical Turk allow anyone to earn extra cash by taking online surveys, completing small tasks like data entry or image tagging, and participating in user testing. These require no specialized skills.

The potential earnings from taking online paid surveys are generally quite low and should be viewed as a way to earn some extra cash rather than a full-time income.

Here are the key points about how much you can realistically make:

• Most survey sites pay between $0.25 to $5 per survey, with longer surveys paying on the higher end of that range.

• Survey Junkie states you can earn up to $45 per survey, but this is likely the maximum payout for their highest-paying surveys. More typical earnings are lower.

• On Swagbucks, you can expect to earn 40-200 SB points ($0.40-$2.00) per survey, with occasional higher-paying opportunities.

• In one test of popular survey sites in 2017, hourly earnings ranged from just 41 cents to $2.03 per hour.

• Full-time earnings potential is very limited. Even working professionally, industry estimates suggest $30,000-$40,000 per year is typical for full-time survey takers after expenses.

• Most sites recommend taking surveys as a way to earn "extra money" rather than a full-time job replacement.

Rent out a room or space

Earn passive income by renting out an extra room, basement, garage or even a parking space on platforms like Airbnb, VRBO or Neighbor.com. This leverages existing assets with minimal effort.

How much you can make depends on how much you can rent, how nice it is, the location and how often you rent it out. The nice this is you can turn it on and off at will.

Sell handmade crafts or products

Those with hobbies like woodworking, sewing, knitting or making jewelry can sell their handmade items on sites like Etsy with no prior business experience required.

Pet sitting or dog walking

If you love animals you can earn money by pet sitting, dog walking or boarding pets through apps like Rover.com. This requires no formal training beyond being responsible and caring for pets.

Dog walking and pet sitting can provide a decent income, though the exact amount varies based on several factors. Here are some key points about potential earnings:

• Full-time professional pet sitters and dog walkers typically earn $30,000-$40,000 per year after expenses, according to industry estimates.

• Part-time pet sitters working 20-35 hours per week for a company may make $20,000-$25,000 annually.

• Those doing pet sitting as a side gig could earn $3,000-$10,000 per year.

• Income potential increases significantly by building your own pet care business with employees. For example, a solo operator doing 28 visits per day at $8.32 profit per visit could make around $69,000 annually after expenses. With 7-8 employees, that could rise to over $110,000 per year.

• Key factors impacting earnings include your rates, number of clients, operating expenses, and whether you work solo or have employees.

• Pet sitters can potentially deduct expenses like mileage, supplies, marketing, insurance, and a home office to reduce taxable income.

The most lucrative path is starting your own pet care company and scaling up with hired staff, though this requires more effort and risk. With reasonable rates and good volume, full-timers can make a decent living in this field.

Good so far? Watch this video for more ideas and subscribe because I’ve got more coming.

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