Adjusting from a full time job to retirement can be challenging, which is why many retirees opt to start a side hustle during their retirement. This can be for many reasons, but whatever the motive, starting and maintaining a side job throughout retirement is not an easy task.
For that reason, it’s important to find not only something that you’re passionate about, but also something that is immensely rewarding both personally and financially.
One such option is public speaking, which offers a variety of benefits to retirees of all stripes. Here are the top 5 reasons why public speaking makes a great retirement side hustle:
The first and most obvious benefit of a retirement side hustle in public speaking is the supplemental income it provides.
Because of the flexibility speaking offers, it’s up to you to model your decisions about which gigs to pursue based on your individual financial situation.
Although speaking can be incredibly lucrative, setting a fee can be confusing and intimidating. It’s important to be reasonable about your level of experience and the budgets of event planners, but it’s equally important to not undersell yourself.
When you first start out, you may have to charge less than what you’d like, but the experience can be just as valuable as the money if it helps you land future gigs.
While the typical fee for new speakers is $1000, there are factors that can make it reasonable to charge either more or less than that.
As already touched on, the flexibility that a retirement side hustle in public speaking offers is almost unmatched. This is especially true for retirees who can choose which speaking gigs to pursue based on their schedules and any other plans they may have.
For those that can’t travel, virtual speaking events offer the chance to do events without ever leaving home. If you can travel, speaking at places all over the world can give you an opportunity to see things you’ve always wanted to while making money on the side.
Either way, the immense flexibility of speaking lets you model your speaking side hustle around your specific situation.
Sharing Your Expertise
Retirement usually marks the end of a successful career, over which you’ve accumulated a wealth of knowledge, insights and unique experiences.
Passing these on through a retirement side hustle in public speaking can be an incredibly fulfilling way to help others learn from the path you’ve already walked.
Even if you don’t choose to speak about the specific industry you were in, you can incorporate stories and experiences you had into other situations.
Connection With Others
Retirement can be a lonely time for those who have lost touch with former coworkers and friends, but a retirement side hustle in public speaking is a great way to make new connections and forge relationships that can last throughout your retirement.
Especially when you’re starting out, it’s a good idea to build friendships with those who have been in the industry for a long time. They can pass along insight, experiences and tips from their careers which can be an immense help in growing your retirement side hustle.
Improved Communication Skills
Public speaking is a great way to sharpen your communication skills, as speaking in front of an audience requires you to articulate things clearly, be able to present things in a logical and structured manner and get your point across to people of various backgrounds and opinions.
The skills that public speaking promotes can be extremely valuable in other areas of life. In many ways, learning to communicate and relate better to those around you can not only improve your relationships, but also make you a better and more well-rounded person.
From financial rewards to personal fulfillment and sharpened skills, public speaking is a great option for a retirement side hustle.
Not only does it provide extra income, but the inherent flexibility allows you to forge your own unique path. As someone who has lived a life full of unique experiences and learned valuable lessons, it gives you an opportunity to share them with others. It also provides an outlet for connections and relationships and helps you improve your communication skills which can benefit your existing relationships.