Building Your Side Hustle Without Quitting Your Day Job: A Guide for Pre-Retirees

Hello there! I’m so glad you’re thinking about starting a side business while keeping your day job. As someone who’s been in your shoes, I know exactly how daunting it can feel when you’re in your 50s or 60s and wondering if you can really make this work. Let me share what I’ve learnt along the way!

The Retirement Reality Check

Like many of you, I spent years staring at my pension statements wondering, “Is this really going to be enough?” The thought of not having the retirement lifestyle I’d dreamed of (those holidays abroad or simply living without financial stress) kept me up at night.

But here’s what I discovered. It is not too late to start to create an additional income stream. Also, you don’t need to dive in headfirst and quit your job to get started.

Why Your Experience Is Actually Your Secret Weapon

One massive advantage we have over the younger crowd? Decades of professional experience and life skills! While they might be more tech-savvy at first glance, we have something far more valuable: judgement, persistence, and people skills that only come with time.

I remember feeling completely lost when setting up my first website. But I approached it like any other challenge in my career. One step at a time, asking for help when needed, and celebrating small victories.

Start Small, Dream Big: The Practical Approach

The beauty of a side hustle is that you can build it gradually while your regular income keeps you secure. Here’s how I made it work:

• Morning routine: I dedicated 30 minutes before work each day to learning one new skill or activity.
• Lunch breaks: Perfect for responding to emails or planning content. So easy to do ‘on the go’ now.
• Weekend focus: I blocked out Sunday afternoons for more intensive work on my business.

Yes, it meant watching less telly and occasionally missing a social event, but the pride I felt with each small accomplishment was worth it!

The Tech Hurdle: It’s Not as Steep as You Think

Many of us worry about keeping up with technology, but here’s what I’ve learnt: you don’t need to understand everything. You just need to know the basics and when to ask for help.

I found that:

• YouTube tutorials are brilliant for visual learners like me.
• Local community courses often offer technology training specifically for our age group.
• Asking a tech-savvy friend to help set things up initially saves hours of frustration.

Remember when we had to learn to use computers at work? We managed then, and we can manage now! Lotus 1-2-3 anyone?

Financial Safety First: The Sensible Approach

Keeping your job while building your business isn’t just convenient—it’s smart financial planning. It gives you:

• Time to test your business idea without risking your security.
• The ability to invest gradually in your business.
• Peace of mind as you navigate the learning curve.
• A safety blanket as you know if it doesn’t work out then you have lost nothing.

For me, knowing my mortgage was covered meant I could focus on growing my business without that knot of panic in my stomach.

When Might You Consider Going Full-Time?

This decision is deeply personal, but here are some milestones I found helpful:

• When your side income consistently covers at least 50% of your essential expenses.
• When you have 12 months of living expenses saved (yes, more than the typical 6 months—we need extra security!)
• When your business has shown steady growth for at least 18 months.

Taking the Next Step: Your Action Plan

Ready to get started? Here’s your simple first-week plan:

1. Monday: Spend 30 minutes brainstorming your skills and interests.
2. Tuesday: Research 3 potential side business ideas that match these skills.
3. Wednesday: Look up one local or online course to help develop necessary skills.
4. Thursday: Set up a simple budget for initial business expenses.
5. Friday: Schedule specific time blocks in your calendar for working on your business next week.

I’m Here to Help You Succeed

Starting a side business in our 50s and 60s comes with unique challenges, but I’m here to help you navigate them. Unlike those generic courses aimed at 20-somethings, I understand what it’s like to balance health concerns, family responsibilities, and limited technical knowledge while building something new.

Have you been thinking about a particular side hustle idea? Or perhaps you’ve already started but hit a roadblock? I’d love to hear about it in the comments below. Let’s support each other on this journey to a more financially secure and fulfilling retirement!