All about the challenges of Midlife Finance

Earn Extra Income With or Without Retirement

Even with some life experience behind you, expenses can still arise seemingly out of nowhere. But coming up with additional money to cover these unexpected expenses, pay your bills, pad your savings, or even save for a vacation is not as hard as you think. There are plenty of moneymaking opportunities that are legitimate, and often come without long-term commitment which means that you can make extra money without taking on a full-time job. You can easily earn extra income from your laptop or smartphone, or even just by running basic errands in your area for others.

Walk Dogs

Walking dogs can be a fun way to make an income on the side, and also to get a bit of exercise. Let your friends and family know you are available for dog-walking services, and put up posters in town at supermarkets and other high-traffic areas. You could also get business by posting an ad on Craigslist or local websites.

Another good place to look for dog-walking opportunities is at local kennels or veterinarian offices. You can ask them if they need anyone to exercise the animals under their care, or inquire about posting flyers for your services.

Invest in Rental Properties

Deciding to invest in real estate such as rentals leaves you with options like apartment buildings, two-family houses, and single-family homes which is the most popular choice for investing in rental property as they are usually easy to find and to finance. Single-family homes usually have a better likelihood of getting long-term renters with an increased chance of stability.

Small and large multifamily properties are also an option. You can still finance smaller properties like standard-sized homes. The larger units will need a commercial loan, and likely a larger down payment and interest rate.

Participate in a Clinical Trial

You can do your part for science and earn cash while you’re at it by participating in clinical trials. While they are often targeted at people who have specific medical conditions, there are also those that recruit healthy adults. You can find clinical trials by looking on the National Institutes of Health database and searching by health concerns, physical traits, or even just the word “healthy.”

Sell Your Stuff

For people who have piles of plain old “stuff” hiding in the basement, or who use their garage more for storage than for vehicles, selling what you own can be a good way to both clean up and make money. Sites like eBay, Amazon, and Facebook Marketplace are quick ways to advertise to the masses, but a good old fashioned garage sale can still be effective these days too.

Take Surveys

A simple money-making tip that is growing popular is taking online surveys. They can take anywhere from seconds to minutes, and can pay a few cents or a fair number of dollars. Taking surveys for extra cash might not be the most reliable technique, but your payout could add up if you are regularly doing a few every day.

Do make sure that you are using a reputable source, as survey scams do exist. Look at reviews before giving out any of your personal information.

Trade the Stock Market Online

Some people look to trading stocks to achieve financial freedom. There are all kinds of trading tips and trading courses online so that beginner and advanced traders alike can learn. You’ll be able to learn how to find the best stocks to trade, how to analyze the stocks you find, when to buy them, how to lower your risk, how to read stock charts, and how to trade with an online broker.

One stigma of trading stocks is that it requires constant tracking of the stock market and hours upon hours of sitting at the computer. The true trick is to know when to trade the market. If you trade at the right time and with the right trades, you can be done within 2 hours and actually make money from the stock market. Though learning the techniques takes time and dedication, the payoff can be well worth it.

Prepare Today

Having extra money on the side can come in handy when unexpected expenses arise, but it can also help to expand your savings to prepare for retirement and save up for big expenses like a new house or a vacation. Even a few extra moves here and there can add up over time, so the sooner you start, the closer you’ll be to having a significant amount saved.

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