Want To Fortify Your Nest Egg? Try These 4 Side Hustles
Retirement might feel like it's years away, especially if your nest egg feels like it's getting fried by the rising costs of living. This is where side gigs come in. But how do you choose which is the best fit for you?
“The type of side gig people choose often varies depending on their stage of life and individual circumstances," said Bradley Anderson, a financial operations manager at Sigma Tax Pro. "Younger workers typically have a longer investment horizon, meaning even modest contributions have more time to grow. People closer to retirement often draw on their existing professional experience through consulting or project-based work, which can command a higher hourly rate.”
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Here are four side hustles to help boost your retirement savings in 2026.
Tax Preparer
A tax preparer is a professional who calculates, prepares and files income tax returns for individuals and businesses. This can yield a range from $150 for simple W-2 returns to over $600 for complex itemized filings, according to TurboTax.
Per Anderson, tax preparation is a prime example of a side hustle that can suit people with the right skills or qualifications thanks to high demand concentrated around tax season. Plus, it can provide an opportunity to generate additional income without requiring a year-round commitment. “The tax side of things is also worth considering," said Anderson. "Our latest research found 22% of Americans find reporting side income confusing, while a further 20% said tax complexity discourages them from trying to earn significantly more. Keeping accurate records from the outset and understanding any tax obligations can make it easier to manage side income effectively,” he said.
Consultant
“Consulting in an existing profession or tutoring are two examples of side hustles that typically have relatively low start-up costs and can often be scaled around a main job,” said Anderson. Also, like tutors, consultants sell knowledge and can cash in on what they're storing in their brains across an equally broad range of subjects.
However, the average consultant sells institutional knowledge to businesses and professionals for more than double what they could charge for providing academic guidance as tutors. ZipRecruiter said the average consultant makes $50 an hour.
That's enough to fully fund a 2026 IRA with about $300 left over for workers under 50, assuming three hours of consulting per week at the average rate.
Tutor
Tutoring is one of the most accessible and versatile side gigs available, offering a broad entry point for those with academic strengths in subjects like math, test prep or finance. Whether you're helping someone pass the Series 7 exam or ace a standardized test, tutoring allows you to monetize your knowledge and make a meaningful impact on others' success. It's also a flexible way to earn extra income on your own schedule.
ZipRecruiter reported that tutors earn an average of $20 per hour. At just five hours per week, that adds up to about $5,200 annually — roughly $2,300 short of the 2026 IRA contribution limit for workers under 50.
With a little more than seven hours of tutoring per week at the average rate, you could earn enough to fully fund a 2026 IRA for workers under 50.
Audio/Video Transcriptionist
Transcription has become as a high-demand side hustle in recent years, and platforms like TranscribeMe! make it easy for beginners to get started -- no formal training required. Freelancers are assigned short audio or video clips (typically 2-4 minutes long) to transcribe, and new tasks are automatically queued up with no cap on how many you can complete.
Starting pay ranges from $15 to $22 per audio hour, with specialized transcriptionists -- such as those fluent in medical or legal terminology -- earning up to $70 per hour. According to ZipRecruiter, the average transcriptionist earns $23 per hour, placing TranscribeMe! near the typical pay range.
The platform reports that its average member earns about $250 per month, or $3,000 per year, but transcriptionists earning the average hourly rate could fully fund a 2026 IRA with a little more than six hours of work per week.
Andrew Lisa contributed to the reporting for this article.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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