Unleashing Your Side-Hustle Potential: Women Over 50
Show Notes:
Summary:
In this episode of "Aging with Grace & Style, Valerie dives into the topic of side hustles for women over 50. She discusses the importance of redefining retirement as a time of growth, purpose, and financial stability, and shares personal experiences of engaging in side hustles. Valerie provides valuable insights into why side hustles are particularly important for the over-50 crowd, strategies for managing time effectively, and keys to choosing the right side hustle. She also emphasizes the mindset shift and personal growth resulting from pursuing a side hustle. Through real-life anecdotes and practical guidance, Valerie empowers listeners to consider side hustles as a means to enhance their retirement savings, reignite passions, and enjoy meaningful work.
Key Takeaways:
- Embrace the concept of side hustles to redefine retirement years as a time of growth, purpose, and extra income.
- Take a proactive approach to managing time, utilizing strategies like time auditing, early morning productivity, lunchtime productivity, and outsourcing.
- Choose a side hustle that aligns with your skills and interests, focusing on sustainable and flexible options with low start-up costs.
- View side hustles as a pathway to reinvention, a safety net, and a potential goldmine for retirement planning.
Timestamps:
00:00 Introduction to side hustles for women over 50
01:35 Importance of side hustles for retirement savings and reigniting passion
04:11 Personal experience with side hustles and the need for time management
05:56 Time management strategies for juggling a side hustle and full-time job
09:23 Choosing the right side hustle based on skills and interests
12:50 Benefits of having a side hustle beyond earning extra cash
14:54 Overcoming fear and empowerment through side hustles
15:39 Call to share side hustle stories and the potential for inspiration
16:26 Conclusion and encouragement to age with grace, style, and sass
Connect with Valerie:
* Facebook, Instagram, and Threads @iamvaleriehatcher.
* Email at hello@agingwithgraceandstyle.com
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Stay tuned for more inspiring chats, tips, and stories about the midlife journey.
See you soon! Let's continue to age with grace, style, and a touch of sass.
Today, we're diving into a topic that I believe is
Speaker:crucial, side hustles for women over 50.
Speaker:But this isn't just about padding the
Speaker:purse. It's about redefining retirement
Speaker:into a time of growth purpose and yes, a little
Speaker:extra cash. So whether you're looking to
Speaker:explore a passion, save for that dream vacation,
Speaker:or simply enjoy the challenge of starting something
Speaker:new, this episode is for you.
Speaker:Hello, beautiful ladies. Welcome back to another episode of 5
Speaker:to Thrive. I'm your host, Valerie Hatcher. Our
Speaker:mission is to provide empowering tips for women over 50 to
Speaker:help us navigate this vibrant stage of life with grace,
Speaker:style, and a whole lot of fun. Each week, I bring
Speaker:you 5 practical and engaging tips on a specific
Speaker:topic. I hope you find them relevant and relatable,
Speaker:and we'll come back for more. Ready for today's episode?
Speaker:Then let's go.
Speaker:Hey girl. So side hustles,
Speaker:It turns out that women over 50 are
Speaker:embracing them more and more. We don't have exact
Speaker:numbers, but let's face it. We're redefining
Speaker:what retirement should look like. More money,
Speaker:more purpose, and taking charge of our futures.
Speaker:But I'm not going to lie juggling a side gig,
Speaker:my full time job, and you know, life
Speaker:can be a challenge. Today, we're ditching the idea
Speaker:that this stage is about slowing down. What
Speaker:if we ramp up just a bit to
Speaker:make our retirement years truly golden?
Speaker:Let's talk side hustles, smart time management,
Speaker:and how all of this makes you unstoppable in the
Speaker:years to come. Get your favorite beverage
Speaker:or turn up the volume in the car and let's dive
Speaker:in. Let's start with the why.
Speaker:Why are side hustles particularly important for
Speaker:us? You know, the over 50 crowd. First
Speaker:off, retirement savings.
Speaker:We've all seen the stats. Many of us could use a
Speaker:boost in our retirement funds. A side hustle
Speaker:can be that boost for retirement savings, but
Speaker:it can be deeper than that. Aside hustle reignite
Speaker:your passion, taps into the skills you might have
Speaker:forgotten you had. It's a way of taking care
Speaker:of your future on your own terms.
Speaker:Picture your ideal retirement
Speaker:travel hobbies, finally getting their due
Speaker:or less sexy, but vital peace
Speaker:of mind, knowing those bills are covered
Speaker:aside, hustle puts that vision into reach.
Speaker:Now there can be a feel factor attached to this.
Speaker:I'm too old. I don't have the tech skills.
Speaker:What if I fail? We've all felt those
Speaker:whispers, but here's the thing.
Speaker:You've already survived careers, maybe
Speaker:raising kids and life's curve balls.
Speaker:You're way tougher than you give yourself credit for.
Speaker:Now, look, I know what you're thinking, Who has
Speaker:time for all of this? Where do I magically
Speaker:find extra hours? Truth is,
Speaker:you don't find them. Time is in hiding.
Speaker:We all have to steal it back. You
Speaker:make time. I've had some side
Speaker:hustles or some kind of side hustle for years now.
Speaker:When my son was graduating from high school, I thought
Speaker:I needed something to fill a void that I assumed that I
Speaker:was going to have. So I became a Stella and Dot
Speaker:stylist. I love the jewelry and I
Speaker:probably bought more than I sold, but then I later
Speaker:realized it really wasn't for me because
Speaker:I honestly didn't like to go to people's houses and having parties to sell
Speaker:stuff. That's just me. I've always
Speaker:wanted to own a boutique. So at one point during this
Speaker:time, a friend and I started an online boutique. It
Speaker:was fun and cool doing it with someone. Now
Speaker:it was a lot of work, but shortly after
Speaker:our 1st year, my role at my full time job
Speaker:changed and I didn't have time to dedicate to the business
Speaker:or anything else for that matter. So we went our separate
Speaker:ways. Then when my son was graduating
Speaker:from college and I knew basketball was about to be over
Speaker:for good, I decided I'd start blogging again.
Speaker:Actually, I didn't think of it as a side hustle at that time.
Speaker:It was just going to be something to do.
Speaker:See, I had blogged several years prior and it seemed like something
Speaker:good to get back into well,
Speaker:blogging and content creation and podcasting
Speaker:has since turned into an unexpected side
Speaker:hustle. One that I enjoy. While
Speaker:it's fun and rewarding, it does
Speaker:require some serious time management.
Speaker:Here are a few time management strategies.
Speaker:1 is do a time audit. So if you're thinking
Speaker:about side hustle and where are you going to find this time, then maybe
Speaker:track how you spend a typical day
Speaker:to show it will show you where you might have
Speaker:time and even where your time disappears.
Speaker:Or 2, what they say they say,
Speaker:early bird catches the worm. Well, I've read a
Speaker:lot of books that support getting up early and knocking out a few
Speaker:items, even 30 minutes before most folks wake up is
Speaker:beneficial. Now, most days I try to
Speaker:allow 30 minutes to an hour before work to get things
Speaker:done. I usually plan it out the night
Speaker:before, so I'll know what I need to do.
Speaker:Number 3, so that lunch break power
Speaker:hour. So instead of maybe mindlessly
Speaker:scrolling, batch some side hustle task. I
Speaker:at times use my lunch break to either get things done
Speaker:or it may serve as my workout time so that it frees up
Speaker:my evening. A couple of techniques
Speaker:that I've used are the Pomodoro
Speaker:doro rather, where you work in short
Speaker:sprints. So for instance, you work on one thing for
Speaker:say, I don't know, 25 minutes, and then you take a break. And
Speaker:then you start back up again, either on that same thing, or maybe
Speaker:you're going to start up and you're going to work on something else for
Speaker:another 25 minutes or so. So it was like working in
Speaker:sprint. The other that I actually prefer
Speaker:is time blocking where I block out a certain amount of
Speaker:time to get tasks done. So for instance,
Speaker:let's use today. I am having my office painted
Speaker:this week, and so I knew I needed to do a lot to
Speaker:prepare for paint, like move stuff. So I actually blocked out a period of
Speaker:time to prep for the painting.
Speaker:And then I had blocked out some time to
Speaker:get my desk clean. I even blocked off time to call my mother,
Speaker:and I blocked off time to record this this podcast. And
Speaker:so when those time blocks are over, then I move on to
Speaker:the next thing. I actually use an app called
Speaker:structured, and it helps me with my time
Speaker:blocking. I mentioned batching
Speaker:earlier. Batching work tasks can really be a game
Speaker:changer. Batching is about doing
Speaker:similar tasks together to minimize distraction
Speaker:and to maximize efficiency. So for instance,
Speaker:say I have editing to do, then I am going
Speaker:to spend X number of time, like maybe an
Speaker:hour, 45 minutes or whatever. And all I'm going to do during that period is
Speaker:editing. Or I have writing to do. All I'm
Speaker:going to do is write. So I am doing that
Speaker:same task during that period of time. So it
Speaker:helps me to stay focused on the task at hand.
Speaker:Then lastly, something to consider is outsourcing
Speaker:and what it can do for you. So for instance, if
Speaker:paying someone to clean, freeze up your Saturdays,
Speaker:then it might be worth the investment.
Speaker:Other small tasks for outsourcing could be doing
Speaker:laundry, having someone do your laundry or grocery
Speaker:delivery, etcetera. As you can see,
Speaker:managing time is crucial. It's about being
Speaker:realistic. We all have the same 24 hours in
Speaker:a day. It's how we use them. That counts.
Speaker:Now, one last thing, protect your personal time,
Speaker:like it's goal and learn to say no.
Speaker:It's not just a word, it's a
Speaker:strategy for keeping your time your
Speaker:own.
Speaker:Choosing the right side hustle is key. Think
Speaker:of your side hustle like, I don't know, small investment.
Speaker:What skills or experience do you already have that
Speaker:people will pay for? This is where we shine.
Speaker:Maybe you're a wizard editing or a marketing
Speaker:guru, or you have some killer organizational
Speaker:skills. Don't chase what's trendy,
Speaker:follow what's sustainable, tap into your experience.
Speaker:So consulting or freelancing in a former field or
Speaker:a field that's adjacent to it, or online
Speaker:teaching, maybe share knowledge on platforms like Udemy.
Speaker:Or if you love creating, I have a friend who
Speaker:makes t shirts and she has for years. And
Speaker:so her t shirts are on Etsy, and she
Speaker:does vendor shows or fairs. And
Speaker:the income has now that she's retired, it has
Speaker:gone to help supplement her retirement. So
Speaker:it's something she loves to do and she makes money from it.
Speaker:So turning her talent into profit. There are
Speaker:even services. So if you like dogs, maybe dog walking
Speaker:or dog sitting, home organization,
Speaker:maybe helping people organize their closets or
Speaker:eldercare. Those things are are in high
Speaker:demand, but how do you know? Here's
Speaker:some things to ask yourself. What am I good at?
Speaker:Even if it feels rusty. What did I
Speaker:enjoy previously that has income potential?
Speaker:And then do I want online flexibility?
Speaker:What kind of flexibility do flexibility do I want? You
Speaker:know, not everyone just wants to be online. Maybe you want to
Speaker:go to a center to do your work, or maybe you're going to
Speaker:volunteer or not necessarily volunteer, but do some
Speaker:work for your church. Part time,
Speaker:you know, what is it that you want to do? How much time and ability
Speaker:do you need? Try something with a low startup
Speaker:costs. We're not trying to break the bank. We're
Speaker:trying to build it. So the possibilities are endless.
Speaker:One of our listeners, Sarah turned her love
Speaker:for photography into a freelance business, taking
Speaker:portraits and selling prints online, her startup
Speaker:costs. Well, it was just the camera that she
Speaker:already owned and a website.
Speaker:So let's think big picture. This isn't just
Speaker:about earning some extra cash. It rewires
Speaker:your brain. You become a problem solver,
Speaker:a self starter. That's exactly the
Speaker:mindset that you'll want when formal retirement rolls
Speaker:around. Think of your side hustle as
Speaker:a transition trainer. Plus, let's be real.
Speaker:Seeing those extra savings add up, that's some serious peace of
Speaker:mind. So this could, the side hustle could
Speaker:be the cornerstone of your retirement plan. Think
Speaker:about scaling it into something that can provide a
Speaker:steady income post retirement.
Speaker:So your bank account gets a boost, but then so will
Speaker:you, your side hustles will build
Speaker:confidence. So taking even a small risk
Speaker:reminds you what you're capable of. It
Speaker:will build problem solving skills. So clients,
Speaker:tech hiccups forces you to be resourceful. It
Speaker:builds community in connecting with other
Speaker:side hustlers, especially in this age group. It can be
Speaker:empowering, and then it's meaningful work.
Speaker:So maybe your day job has lost its spark.
Speaker:Well, this is where you can rekindle
Speaker:it. Here's a financial tip though. Even
Speaker:a small side hustle income can contribute to an
Speaker:IRA to help grow your nest egg
Speaker:tax efficiently. Let's think about a
Speaker:tax implications though. And yes, the tax man
Speaker:cometh even for side hustlers. A
Speaker:simplified chat with an accountant can maybe
Speaker:demystify this whole tax situation for you,
Speaker:ensuring that your hustle is as
Speaker:efficient as possible. Now here's what I have
Speaker:to say. Don't let fear stop you. I've
Speaker:linked in the notes for you a free side
Speaker:hustle brainstorm worksheet to get those
Speaker:ideas flowing and let's create a community.
Speaker:Leave me a voice message at pod.agingwithgraceandstyle.com.
Speaker:And let me know if you're current, if you currently have a side
Speaker:hustle, or if you have one that you're thinking about
Speaker:starting now, I'm no expert, but I'll be happy
Speaker:to talk to you about it. Let's support each other.
Speaker:Because, listen, we are not alone,
Speaker:and we're not done yet. We are just getting started.
Speaker:So there you have it. Side hustles are not just a way to make
Speaker:extra money. They're a path to reinvention,
Speaker:a safety net, a potential goal mine for
Speaker:retirement planning. And as I mentioned, I'd love
Speaker:to hear your side hustle stories or any questions that you might
Speaker:have. Who knows? Your story just might be the
Speaker:inspiration that someone else needs to take that leap.
Speaker:Remember it is never too late to start something
Speaker:new until next time. Keep hustling
Speaker:side hustling that is.
Speaker:Thank you so much for joining me for 5 to Thrive Tuesday. If you
Speaker:haven't already done so, please subscribe so that you don't miss an
Speaker:episode. If you enjoyed this segment, please rate,
Speaker:review, and share it with a friend. Let's stay connected
Speaker:on Instagram, Facebook, and or threads at I am
Speaker:Valerie Hatcher, or email me at hello at aging
Speaker:with grace and style.com. Until next time, let's
Speaker:continue to age with grace, style, and a touch of
Speaker:sass.
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