Want to learn how to make money at 50 years old?
Some of the methods I share right in this blog post will help you a ton.
You need to understand that making money can happen at any age.
Whether you’re 4 or 95 years of age, you can still make money by giving supply where there’s material or emotional demand.
Recommended: How to Make $400k a Month: 11 Proven Methods that Work
So, at the end of the day it’s all about demand and supply.
If you’re at the supplying end, you make the money.
But if you’re at the demanding end, you give the money.
Right now you want to be at the supplying end. And here are 13 genuine ways to do this even at 50.
How to Make Money at 50 Years Old: 13 Genuine & Profitable Methods.
1. Discover yourself.
At 50, it’s not too late to begin discovering yourself.
In fact, as long as you can walk without the need for crutches of any sort, then you’re still unlimited.
And the skies could be your starting point.
If you want to learn how to make money at 50 years old, discovering your purpose is one of many things that you must get right.
Ask yourself some of these questions to identify your strengths and ultimately, your purpose.
- What are you good at?
- What do you flow naturally in?
- What can you do all day without burning out?
- What do you know to the core?
- What gives you pleasure when you do it?
- What do you find easy to do that other people struggle with?
Once you have definite answers to all of these questions, you’ll find that you’ve been ignoring your purpose for a long time; maybe for the better half of your life since you landed on earth.
Finding your purpose is akin to fulfilling your destiny.
In your purpose is your success; in your purpose is a cause for you to transform your world.
And you can do that really easily if you’re consistent.
Traditionally, the earlier you find your purpose, the better.
And 50 is not overly old; at least not too old to discover yourself.
Natural talents and gifts are born from focusing on your purpose – discovering yourself and consistently working on yourself in that path.
2. Build money habits.
Okay.
So, if you don’t have money habits or you don’t know how to save or spend money, then there’s no way you’re going to make money at 50 years old.
This is because you’ll earn cash and spend it.
And you’ll keep going over this cycle until you’re 60, 70, 80, 100.
And every single time you’ll make promises to yourself to save the next income.
Building a money habit is really important if you must succeed regardless of your age.
But at 50, this is a skill you should have in spades. Some money habits you must cultivate include:
- Saving money
- Paying off bills on time
- Making a budget for the day, week or month
- Building up an emergency fund
- Paying off debt
There are more money habits, and you’ll need to check the boxes for most of them if you’re serious about making money at 50 years old or getting rich in your 50s.
3. Find remote jobs.
Remote jobs are the kind of jobs that you do online, and it’s one of the ways to make money from home if you’re like me – a guy who hates leaving home and merges this habit with a desire to never work a 9 to 5.
I work remotely, on my job.
So, if you want to make money at 50, you can work online as a remote contract worker.
This will be really easy for you to do if you already have a skill like writing, programming, doing voice overs, and maybe motion pictures designing.
You can also work online as a freelancer in your 50s to make money.
The thing is, this route will not earn you a lot of money to buy a Bentley Flying Spur (Mk III) at $240k+ dollars.
No, it’s just a way to make money, but not the life-changing kind of money.
But at 50, you can make tons of money creating a course around your skill and purpose and educating people who are interested in learning from you.
You’d make a ton of cash.
4. Write a book.
You’re 50 years old, and you probably have a lot of experience under your belt by now.
The thing is, a lot of young people below the 50 year arc want to know about what you know.
They want to know about your take on life – your mistakes and the things you would do if you could do over.
So, what you can do is to write a book and make it available offline and online for them to access by buying it.
It can be about life or about a specific niche if you’re really good or knowledgeable in that niche.
Basically, you’d be making passive income if you can pull this through, especially if your book is really top-notch and inspiring.
5. Create a digital product.
If you don’t want to go through the rigorous process of writing, editing and eventually publishing hard copies of a book, which can be expensive sometimes, you can create a course instead.
It’s easier and you’re going to reach more people within a short period of time too.
With the help of tools like Thinkific, Teachable and Podia, you can easily create your course and promote it.
Whatever is in your course should come from your heart – a depth of knowledge and the need to truly teach people over making money.
You’ll make a successful course if you focus on truly teaching over earning money.
Value giving comes first then you can reap the rewards.
Once you’re done with a course, you’re done with it.
And the more positive feedback you get, that’s more people buying your course for a lifetime.
If it’s good, it’ll promote itself.
The good thing is, once you create your first course, you’ll be able to create more courses effortlessly because you’ve trampled the route once.
6. Public speaking.
Tons of people are cashing in on this skill – talking.
It’s a skill if you can talk about just anything beautifully.
This will require you to read as much as you can and make a ton of research so that you’re spitting facts and not bluffing 95% of the time you open your mouth to speak.
Studying and researching goes a long way to make sure you don’t put your listeners in confusion in a bid to make sense out of nothing.
You start by publishing content online, video content of yourself talking about different things – events, nature, life, possibilities, realities, businesses, the economy, money, relationships & more.
Go rogue on social media and keep it consistent.
With basic social media marketing techniques, you’d be able to take your content far and slowly build a following.
It’s one of the ways to make money at 50 years old, and social media fame is easily monetizable aside from you becoming a public speaker who earns several thousand dollars per gig.
7. Start a podcast.
Podcasting can be fun if you’re the extroverted kind.
If you’re not an extrovert, then you want to stick to other methods of making money at 50 years old that are more hands-off.
Moving on, you can quickly rise to fame once you’re able to create a successful podcast and host your show from time to time to discuss trending events, trending people and future possibilities.
It’s fun, and the kind of podcasting I’m talking about here is video podcasting.
This will require you to have a studio, have a video editing skill or a team when you’re trying to scale.
But at the start, you can start your show making use of your bedroom as a studio setup, and more.
Understanding the basics of video podcasting and how to get started is a way forward.
8. Trade Forex.
You want to make money at 50 years old, but the forex market offers the opportunity for you to become a millionaire at 50 years of age.
It’s crazy, but it’s realistic.
Maybe you’re not going to become a millionaire at 50, but if you take some time to obsessively learn to trade the forex market, there’s a greater chance you make tons of money before your mid 50s.
So, I understand your apathy for the digital methods to make money and you’re more attuned to making money the good old ways; offline.
But then, Forex trading and every other kind of trading (including crypto, which I’ll be talking about last), can earn you tons of money within a short period of time.
I stress about learning primarily because you could end up even more broke and frustrated if you get in desperately as a newbie with insufficient experience, knowledge and skill.
So, with every bone in my body, I’m recommending Forex as a roadmap to success for you in your 50s.
9. Do babysitting/caregiving.
At 50, there’s a natural love for kids and babies.
You can even offer caregiving services to older people in their 80s and get paid too.
So, you can do babysitting or caregiving to make money at 50 years old.
The average income per hour for babysitters in the US is $22.68 dollars.
So, the more hours you work, the more money you’ll make.
Working as a caregiver, you can make more especially if you decide to take the 9 to 5 route rather than work on short contracts or take short caregiving gigs.
They’re not menial jobs and they’re the kind of jobs you can do at 50 years old to make money.
At the end of the money, there’s a possibility for you to make upwards of $2,040 dollars (assuming you’re able to work 90 hours in a month or 3 hours every day either babysitting or caregiving).
10. Sit and walk pets.
Sitting or walking pets is certainly one of many ways to make money at 50 years old, but you’re not going to make $10,000 a month doing this.
It’ll be just enough money to go buy, and you can do this part-time while focusing on some other remote job or taking a realtime 9 to 5 just to get money in your account.
This will work if you love pets too.
So, you can search for pet sitting or pet walking gigs on marketplaces like Care.com, Sittercity, Rover, and Craigslist.
Assuming you have a lot of experience doing this, you can earn about $25 dollars per hour sitting or walking dogs.
If you live in a city of pet lovers, such as Asheville, San Diego or Boston, you can earn up to $1,250 bucks per month.
This depends on how frequently you get gigs like this and how much you charge per hour.
11. Try affiliate marketing.
Basically, affiliate marketing isn’t just for 50 year olds. It’s for anyone and for everyone.
You can start doing affiliate marketing right from your home and right now.
This indeed is one of the many ways to make life-changing money whether you’re 10 or 60 years of age.
If you’re conversant with the concept of affiliate marketing, then that’s fine and you already have a slight edge here.
But if you know nothing about affiliate marketing, then I’ll explain in quick terms.
The term affiliate marketing refers to promoting a product and earning commissions when people buy the products you sell.
Since these products earn you money from sales, they’re affiliate products.
You’re also an affiliate marketer because you’re promoting products to make money from their sales.
In essence, you make more money from selling more money by generating more sales or by getting more people to buy the affiliate products you’re promoting.
The good thing about affiliate marketing is that you get to make passive income.
Once you’re able to build affiliate money systems online, you can sit back and watch the earnings roll in.
Firstly, understand all you can about affiliate marketing and how to make it work.
12. Start event planning for seniors.
You can make money at 50 years old by organizing events for seniors in your city.
Your name can easily become the best name whenever people, especially seniors, in your city want to organize an event.
You can host a birthday party, a ceremony or parties for seniors and get paid a lot of money over time.
At 50, you can easily start up an event planning agency digitally first before earning enough money to launch out as a full-fledged event planning agency.
If you’re considering this at all, then you’ll want to know what it takes to become an event planner and how to scale even if you’re starting from scratch without prior event planning experience.
Recommended: 10 Best Jobs that Pay Over $300k a Year without a Degree
13. Do crypto trading.
You’re not too old to trade the crypto market at 50 years old.
No.
It’s still the right time to start learning how the crypto market works, and crypto trading can make you a lot of money.
Want to make money?
Regardless of your age, trading is definitely a way out.
One catch here is to make sure you have the money to start trading.
It’s not free, you’ll need to put some money into an account you intend to trade with.
Again, there’s no rush, and you should learn as much as you can about crypto trading including areas like risk management, technical analysis, fundamental analysis, and leveraging.
The more you know, the better.
How to Make Money at 50 Years Old: 13 Genuine & Profitable Methods – Final Words.
Middle-aged or not, you can make money.
In a nutshell, some of the best ways on how to make money at 50 years old include trading the crypto market, venturing into event planning, affiliate marketing, sitting or walking pets, trading Forex, babysitting, finding remote jobs, podcasting, writing a book; a good book, creating a digital product, and public speaking.
But first, you’ll need to discover yourself even at 50 and build money habits.