Steve Lofton

Embarking on a new venture or starting a side gig in your sixties might seem daunting to some, but it’s an increasingly popular and practical decision for many. With a wealth of experience, more free time, and the wonders of modern technology, your sixties might be the perfect time to explore entrepreneurial passions or supplement your income.

Here are six compelling reasons why starting a side gig in your sixties is feasible and advantageous.

1. Leverage a Lifetime of Experience

You’ve accumulated many skills, knowledge, and professional contacts by reaching your sixties. This wealth of experience is invaluable when starting a new venture, providing insights and expertise to help you navigate challenges and make informed decisions.^[1]^

2. Financial Flexibility

Starting a side gig can offer significant financial benefits, from supplementing your retirement savings to funding travel or hobbies. With the average retirement age rising and concerns about the adequacy of retirement savings, a side gig can provide a much-needed financial cushion.^[2]^

3. Embrace Modern Technology

The digital age has made starting and managing a business easier than ever. From social media marketing to online sales platforms, technology offers tools and resources to help you reach a wide audience without needing a physical storefront. This accessibility is a game-changer for seniors looking to start a side gig.^[3]^

4. Flexibility and Work-Life Balance

Flexibility is one of the greatest advantages of starting a side gig later in life. You can set your hours, choose projects, and work from anywhere. This flexibility allows you to balance work with leisure, family time, and other commitments, making it an ideal option for retirees.^[4]^

5. Mental and Social Benefits

A side gig can provide significant mental and social benefits, keeping your mind active and expanding your social network. Starting a new venture can be intellectually stimulating and emotionally rewarding, offering a sense of purpose and achievement. Additionally, it can provide opportunities to meet new people and engage with communities, which is crucial for maintaining mental health and well-being in later life.^[5]^

6. Opportunity to Pass on Knowledge

Starting a side gig in your sixties offers a unique opportunity to mentor younger entrepreneurs and pass on your knowledge and expertise. Whether through formal mentorship programs or casual interactions, sharing your experience can be incredibly rewarding and can help foster a sense of community and continuity.^[6]^

Conclusion

Your sixties are a time of great potential for personal and professional growth. Starting a side gig at this stage can offer financial benefits, personal fulfillment, and the chance to leverage a lifetime of experience. With the advantages of modern technology and the flexibility to design a business that fits your lifestyle, it’s clear that pursuing your entrepreneurial dreams is always possible.

^[1]^ “The Value of Experience: How the Age of Entrepreneurs Influences Success,” *Journal of Business Venturing*, 2020.
^[2]^ “Retirement in the 21st century: How the dynamics of aging are changing,” *Harvard Business Review*, 2019.
^[3]^ “Digital Entrepreneurship: Impact of Digital Technology on Global Business Opportunities,” *International Journal of Innovation and Technology Management*, 2021.
^[4]^ “Work-Life Balance in the Digital Age,” *MIT Sloan Management Review*, 2020.
^[5]^ “The Psychological Benefits of Participation in Leisure Pursuits for Adolescents,” *Clinical Psychology Review*, 2005. (Note: While this study focuses on adolescents, the psychological benefits of engaging in meaningful activities apply across all age groups.)
^[6]^ “Mentoring: A Key Strategy to Prepare the Next Generation of Professionals,” *Journal of Professional Nursing*, 2018.