{"id":7606,"date":"2025-07-15T11:31:36","date_gmt":"2025-07-15T18:31:36","guid":{"rendered":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/?p=7606"},"modified":"2025-07-15T11:43:10","modified_gmt":"2025-07-15T18:43:10","slug":"retirement-side-hustles-canada","status":"publish","type":"post","link":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/articles\/retirement-side-hustles-canada\/","title":{"rendered":"The New Retirement Plan: How a Side Hustle Can Keep You Fulfilled in Your Next Chapter"},"content":{"rendered":"<div class=\"cta\" style=\"background-image: url(https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2022\/01\/Asset-4.png);\"\r\n>\r\n    <button id=\"cta-close\" aria-label=\"Close CTA\"><\/button>\r\n    <div class=\"cta__content\">\r\n                    <a href=\"https:\/\/cedarrockfinancial.com\/tmp\/staging\/retirement-planning-ebook\/\" target=\"_self\">\r\n                        <h2><strong>Download Our Free Retirement Guide today<\/strong><\/h2>\n        <span>Learn More<\/span><\/a>    <\/div>\r\n<\/div>\r\n\n\n\n<p class=\"wp-block-paragraph\">This article was reviewed by&nbsp;<a href=\"https:\/\/cedarrockfinancial.com\/tmp\/staging\/about-us\/chris-singer\/\" target=\"_blank\" rel=\"noreferrer noopener\">Chris Singer, CFP\u00ae<\/a>.<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">What You\u2019ll Learn in This Article:<\/h3>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Why more Canadian retirees are choosing to start side hustles<\/li>\n\n\n\n<li>The personal and financial benefits of working in retirement<\/li>\n\n\n\n<li>Side hustle ideas that align with your interests, skills, and lifestyle<\/li>\n\n\n\n<li>How to choose a retirement side hustle that feels purposeful (not stressful)<\/li>\n\n\n\n<li>Key financial and legal considerations before you get started<\/li>\n\n\n\n<li>How to balance flexibility, fulfillment, and freedom in your next chapter<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Retirement looks a little different these days. For many Canadians, retirement is no longer about slowing down; it\u2019s about choosing how to spend your time with more freedom, more flexibility, and yes, for some, even more ambition.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019ve been toying with the idea of starting a side hustle (yes, that\u2019s what they call a supplementary income stream now)&nbsp; in retirement, you\u2019re in good company. <a href=\"https:\/\/vanierinstitute.ca\/wp-content\/uploads\/2024\/11\/Families-count-2024-more-older-adults-are-working-for-pay-and-retiring-later.pdf#:~:text=FAMILIES%20COUNT%202024%20,to%20have%20participated%20in%20the\">A 2023 survey<\/a> found that 15% of Canadians aged 65 and older are still working\u2014mostly by choice, not necessity. Why? Because modern retirement isn\u2019t just about kicking back. It\u2019s about staying active, connected, and fulfilled. Trends show that more and more Canadians want their golden years to be full of excitement, and with the right plan, there is nothing stopping you!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Whether it\u2019s launching a passion project, consulting in your old industry, or finally taking a creative risk you never had time for, a retirement side hustle can bring purpose to your next chapter (and a little extra income along the way).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Curious what that could look like for you?<\/strong> Keep reading for inspiration, ideas, and key things to consider as you explore the side hustle that might just become the highlight of your retirement.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why More Retirees Are Starting Side Hustles<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In the past, retirement was seen as the end of work. Today, it\u2019s often the start of something new. Something chosen.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For many successful professionals, retirement opens the door to pursue things that once felt out of reach: business ventures that never made financial sense in your 30s, creative ideas you shelved for more \u201cpractical\u201d paths, or simply work that aligns with your values.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yes, additional income is a perk. But for many retirees, the biggest win is mental stimulation, social connection, and the satisfaction of building or contributing to something that matters.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And with Canadians living longer than ever, retiring at 65 could mean 20+ years of possibility ahead. What will you do with yours?<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Consulting-Volunteering-Helping-1024x683.jpg\" alt=\"\" class=\"wp-image-7620\" srcset=\"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Consulting-Volunteering-Helping-1024x683.jpg 1024w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Consulting-Volunteering-Helping-300x200.jpg 300w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Consulting-Volunteering-Helping-768x512.jpg 768w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Consulting-Volunteering-Helping-1536x1024.jpg 1536w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Consulting-Volunteering-Helping-2048x1366.jpg 2048w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Consulting-Volunteering-Helping-800x533.jpg 800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Retirement Side Hustles That Bring Purpose and Profit<\/h3>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Consulting:<\/strong> Put your decades of expertise to use on your own terms. Pick your projects, set your schedule, and stay sharp in a field that brought you joy.<\/li>\n\n\n\n<li><strong>Teaching or Tutoring:<\/strong> Whether online or in-person, there\u2019s always demand for experienced voices in everything from business skills to creative arts.<\/li>\n\n\n\n<li><strong>Creative Ventures:<\/strong> Writing, painting, woodworking, photography, you name it! Retirement is the perfect time to explore your creative side. Bonus: Many creative hobbies can become profitable with the right audience.<\/li>\n\n\n\n<li><strong>Nonprofit Work:<\/strong> Align your time with a cause close to your heart. Many organizations need part-time strategic help or mentorship.<\/li>\n\n\n\n<li><strong>Freelance or Gig Work: <\/strong>From digital services to project-based support, the gig economy isn\u2019t just for twenty-somethings.<\/li>\n\n\n\n<li><strong>Start a Niche Business:<\/strong> Always dreamed of launching a business? Now is your chance\u2014but go in with your eyes wide open. Running a business requires both large financial and time commitments, which could derail your other retirement plans.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How to Choose the Right Retirement Side Hustle<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">With so many opportunities and different types of side hustles to choose from, it can feel a little overwhelming deciding what to do. That\u2019s completely normal! For decades, your career path has been clear. Retirement is a big change, and choosing how you want to spend that time can seem strange (and exciting!). So, when the choices seem endless, these questions can help you narrow in on the right fit:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>What do you <em>love<\/em> doing so much that you lose track of time?<\/li>\n\n\n\n<li>What skills do people often ask you for help with?<\/li>\n\n\n\n<li>Are there causes or communities you want to be more involved in?<\/li>\n\n\n\n<li>Do you want something structured or more flexible?<\/li>\n\n\n\n<li>Are you looking for creative expression, social connection, or just a bit of fun money?<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Remember, you don\u2019t have to go all in right away. You can always test the waters and explore different ideas to see what feels best before fully committing yourself. That in itself is part of the joy of retirement\u2014the freedom to change your mind and the freedom to try new things.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What to Consider Before You Dive In<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A retirement side hustle has so many benefits\u2013a sense of fulfillment, social connection, additional income, and a daily purpose\u2013but there are a few important things to think about before you get started:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Why: <\/strong>Why are you doing this?&nbsp;<\/li>\n\n\n\n<li><strong>Taxes: <\/strong>Even a small side income can have an impact on your tax bracket.<\/li>\n\n\n\n<li><strong>CPP\/OAS &amp; Pension Timing: <\/strong>Your income may affect when and how you draw from government and private retirement benefits.<\/li>\n\n\n\n<li><strong>Licensing or Legal Requirements: <\/strong>Some fields\u2014especially consulting, product sales, or coaching\u2014may require specific permissions or insurance.<\/li>\n\n\n\n<li><strong>Time and Energy Balance: <\/strong>Your hustle should support your lifestyle, not take it over. Think about what you want to save energy for\u2014travel, grandkids, volunteering?<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Financial-Money-Wealth-Happy-1024x683.jpg\" alt=\"\" class=\"wp-image-7623\" srcset=\"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Financial-Money-Wealth-Happy-1024x683.jpg 1024w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Financial-Money-Wealth-Happy-300x200.jpg 300w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Financial-Money-Wealth-Happy-768x512.jpg 768w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Financial-Money-Wealth-Happy-1536x1024.jpg 1536w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Financial-Money-Wealth-Happy-2048x1366.jpg 2048w, https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-content\/uploads\/2025\/07\/CedarRock-Blog-July-2025-Financial-Money-Wealth-Happy-800x533.jpg 800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Speaking with a financial advisor about your retirement side hustle ideas in advance is a great way to ensure you are optimizing your cash flow and protecting yourself from tax implications.<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">New Retirement Isn\u2019t About Slowing Down. It\u2019s a Redesign.<\/h3>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Today\u2019s retirees aren\u2019t just playing golf and planning vacations (though there\u2019s room for that too). They\u2019re launching businesses, mentoring others, writing books, and starting nonprofits. Retirement is no longer just an exit; it\u2019s a reinvention.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you&#8217;re dreaming about your next chapter and wondering how a side hustle might fit into it, we\u2019re here to help. Whether you&#8217;re still a few years out or already enjoying retirement, now is the perfect time to start planning.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Because the best kind of wealth isn\u2019t just financial. It\u2019s having the freedom to spend your time doing what you love.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This article was reviewed by&nbsp;Chris Singer, CFP\u00ae. What You\u2019ll Learn in This Article: Retirement looks a little different these days. For many Canadians, retirement is no [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7619,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12,14],"tags":[],"class_list":["post-7606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-planning","category-retirement-planning"],"acf":[],"_links":{"self":[{"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/posts\/7606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/comments?post=7606"}],"version-history":[{"count":14,"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/posts\/7606\/revisions"}],"predecessor-version":[{"id":7626,"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/posts\/7606\/revisions\/7626"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/media\/7619"}],"wp:attachment":[{"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/media?parent=7606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/categories?post=7606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cedarrockfinancial.com\/tmp\/staging\/wp-json\/wp\/v2\/tags?post=7606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}