With the UK on lockdown because of Coronavirus, many over-50s are looking for the best way to earn an income without leaving the house.
According to new research, 17% of people aged 50 and over earn money from something other than their main job.
However, according to the After 50 report by insurer SunLife 78% of them have to leave the house to do so.
For those working from home, popular options include crafts like jewellery, knitting and art, marking exam papers and tutoring, product testing, doing competitions, playing bingo online, writing and authoring.
The most popular options were selling items on sites like eBay and Facebook, which four in 10 people use to make extra money, while another four in 10 said they earn cash remotely by completing surveys.
“Our Finances After 50 report reveals that almost one in five people over 50 are finding clever ways to boost their income from home, from selling things, marking exam papers and tutoring, to online competitions and using their skills to make crafts!”Ian Atkinson, marketing director at SunLife
In this article, we have done the legwork for you and found the best ways to earn money without leaving the house.
Virtual chat Support
Become the person behind the “Hi, is there anything I can help you with today?” chat box that often pops up on websites.
These jobs can be found on sites such as indeed.co.uk – with brands offering this role based from home with on-the-job training.
Do you have skills like writing, copy editing, managing social media or graphics design? All you need is an internet connection, and you can work with clients around the world.
The top freelance site, Upwork.com, is a great place to start
A transcriptionist is a professional typist who listens to recorded or live audio files and converts into text format what they hear. Accuracy is essential for this role.
You will need internet access and basic computer skills.
At rev.com (https://www.rev.com/freelancers/transcription), you can start working from home by completing three simple steps.
Are you organised with attention to detail? This administrative role performs remote tasks for several industries, from managing a calendar to issuing invoices.
Translate audio recordings, documents, videos etc. from your home.
Most employers require proficiency in English and another language, while others require a degree in interpretation.
Either way, this is a great way to earn extra money.
Get paid to complete online surveys! Businesses use surveys to refine their strategies and product development.
Money Saving Expert (https://www.moneysavingexpert.com/family/make-money-surveys/) has created a detailed guide, including their list of the top 22 online survey sites.
This is an excellent option for teachers (even music teachers) who might be at home or retired teachers looking to earn some money on the side.
Advertise on local online community groups or register on websites such as Personal Tutors.
Rent out your driveway.
Do you live in a city where parking space is tight? Offer up a space to rent on your driveway.
JustPark, Parklet and Your Parking Space are good starting points.
Rent out storage space
If you have any spare space in your loft, garage, shed it’s worth exploring websites such as Storemates.
With social distancing, many are turning to technology to connect to loved-ones, to study and to work. This means that the demand for computers and technical support will increase.
If you have technical knowledge of PCs, tablets and mobile phones, this could be the opportunity for you and could even lead to full-time income.
Use remote access software, e.g. TeamViewer, to troubleshoot clients’ computers from home.
Companies regularly outsource data entry jobs and often don’t require previous experience.
During a lockdown, many may struggle to find specific products. You can search online for products and have it delivered to a client’s doorstep.
Sell your creations online
Turn a crafty hobby into an online shop via Etsy – a creative marketplace focusing on hand-made and vintage items.
Etsy gives you access to millions of buyers across the UK and internationally looking for hand-made treasures.
Sell your photos online
Choose subjects that have fewer search results and be sure to test them out in print first yourself.
Review websites & apps for cash
UserTesting.com is a platform that pays people to review various websites. Each review takes around 20 minutes and bags you $10 (£6.50) via Paypal.
Write and publish a Kindle eBook
Are you a whizz at researching and writing? With the Amazon Kindle store, anyone can publish an eBook and make money.
If you list your book for £1.49 – £6.99, you earn 70% of the sale. The key is to create value. Simply research a solution to a problem and present the information in a user-friendly format.
Our research clearly shows that there are plenty of things that over 50s can do to boost their finances in this time of crisis, and many can be done without leaving home.
Jon Doyle is Founder and Financial Planner at Juniper Wealth Management. Advising clients since 2008 he has guided clients through good time, bad times and the ugly. With a clear vision on how advice should be delivered and strong opinions on how we should be investing money in order to live the life we want to live free from money worry.