Abby B. Wondering what are some suitable side hustles for actuaries? Unsure what you can do with your unique expertise? Here are 13 ideas!
Although it feels like you’re too specialized in a single field to be having any relevant side hustles, it’s quite the contrary. You actually have a unique audience that needs your skills and expertise!
In this article, I’ll be sharing 13 suitable side hustles for actuaries and recommendations of what you’ll need to start. At the end of the post, you can find more tailored options for making money online on the side as an actuary.
*This post may contain affiliate links. This means I may earn a small commission (at no cost to you) if you sign up for a program or make a purchase using my link!
13 Best Side Hustles For Actuaries
1. Teach others online as a part-time tutor
Tutoring can be a great side hustle for those interested in teaching others – and have the patience to do so. While the pay might not be the best, it can still be rewarding!
As an actuary, you can tutor school kids or college students on subjects like mathematics and statistics. These two subjects are high in demand as they’re not the easiest ones for the average person to understand or get a good grasp of.
Aside from finding students within your area and having face-to-face classes, you can sign up to online tutoring platforms that are looking for tutors in these subjects. Although most platforms take a fee for their service, you won’t have to worry about where to find clients and still be able to make a good side income.
Some sites you can join to become a tutor online:
| What do I need to start? | – A subject you’re able to teach – Plan for modules and lessons – Platform to market your services |
2. Start making videos for your own YouTube channel
Not all actuaries are boring people! If you’re looking for a creative side hustle, becoming a YouTuber is one you should explore.
Since the actuarial field is quite a narrow one with perhaps limited online resources, an actuary newbie might feel a little lonely and lost. They may be searching for resources online and needing support – but couldn’t find the right ones.
If you’re an experienced actuary, consider making videos guiding others within the actuarial field. It may take some time to grow your YouTube channel, but even with a small number of subscribers, you still have an engaged community to work with.
Aside from creating educational or inspirational content for actuaries, you can also explore other hobbies you might have and create a YouTube channel just for it.
The best way is to just stick to a single niche in the beginning! It’s important to be consistent with your uploads and improve as you progress.
Common ways to earn with YouTube include advertising income, affiliate income, sponsorships and earnings from selling your own products.
Interesting YouTube channels in the actuarial niche:
| What do I need to start? | – A camera to record – Portable microphone for better sound – A video editing software |
Read: What I spent for my vlogging gear in first 6 months
3. Build a podcast in a niche you’re passionate about
Interested to become an online content creator? Although becoming a YouTuber is the popular route – it’s not the only one.
Actuaries can be great introverts and if you’re one of them, you might find creating podcasts a more doable task than taking videos of yourself for YouTube. Since you’ll be working with audio files, it takes less equipment to set up and you should spend less time creating/editing your work.
To start with, you’ll need a good microphone to speak into and to learn how to use an audio editing software. Although podcasting is easier to manage, you will need to promote your podcasts (Spotify or Apple) as they don’t work like YouTube where people are suggested random videos to watch.
Another cool way of becoming the modern content creator is to record yourself doing the podcast and uploading the video on YouTube. So you’re both a YouTuber and a podcaster!
Some ways to make money with podcasting, include earning from downloads and getting paid by brands for sponsorships.
| What do I need to start? | – Good desk microphone – Set of quality earphones – An audio editing software |
4. Start a blog guiding other actuaries
Actuaries are real professionals that are guided by standards so there’s plenty of websites by government bodies and organizations writing topics about it. But does that mean, you can’t have your own simple blog to help guide others in your field?
Nope, there’s always a way!
Blogging can be a great side hustle for introverts and those looking to make side income working remotely. However, just like YouTube and podcasting, it can take months (or years) before you’re able to make a good income from it.
If you have great patience and love for writing content, blogging can work for you. You can share useful guides for actuaries or write for an entirely different topic altogether.
Unsure what to write about and don’t know how to blog the right way? Learn how to grow from zero with this blogging course right here.
Just like other online content platforms, blogging allows you to earn from advertising revenue, affiliate income, sponsorships and from selling your own digital products e.g. courses.
Not planning to buy courses yet? Check out my free article for step-by-step guide on how to set up a blog.
| What do I need to start? | – A WordPress Website – Domain name & hosting – Passion to write for a specific niche |
Read: Why I invested in a blogging coach before doing anything else
5. Become an affiliate marketer and earn commission
Not everyone wants to start a YouTube channel, a podcast or to create their own blog. But it’s still true that almost everyone loves making passive income online.
Another way of making side income online (passively) is to promote affiliate links to products or services you recommend. This can be done on social media platforms like Twitter, Pinterest, TikTok and Instagram.
So if you’re someone who loves using social media and has a good number of followers, consider becoming an affiliate marketer for brands you love!
Popular affiliate marketplaces to check out are Amazon Associates, CJ affiliate, Clickbank, Share-a-sale and Rakuten Advertising. All you need to do is sign up for an account, get a link for a suitable product/service based on your audience and start promoting!
Once someone clicks on your affiliate link, they will be directed to the product/service you’re recommending. If they make a purchase or sign up to it, you’ll get a reward – usually a percentage of the sale.
| What do I need to start? | – Affiliate products or services you can promote – Social media account with growing followers |
6. Learn photography and sell photos online with stock websites
If you have a personal passion for photography – whether you’re already taking photos or not, consider becoming a photographer for stock websites.
Taking photos to sell on stock websites is quite different than becoming a photographer at an event or birthday party. Almost any kind of picture can be sold online repeatedly and bring in passive income!
You don’t need to be spending half your day at an event to be making money with stock photography.
However, you’ll need to put forward a chunk of work to build your collection of photos online before seeing any reasonable results.
Your pictures may be purchased by content creators and large online websites to use within their online or non-online content. Demand for certain niches can be seasonal so it’s practical to start with evergreen ones in the beginning e.g. street photography, food and nature.
Stock websites you can join to start:
| What do I need to start? | – A good camera & photography skills – Basic photo editing skills – Consistency to upload photos frequently |
7. Get paid writing for other blogs and websites
Interested in writing for a website and get your articles published BUT not looking to create your own website? Start small by writing for others first!
Freelance content writing is a huge field any kind of professional can explore. Long form educational content in general are factual and requires expertise or experience.
So if you’re an actuary, your opinions can come in handy!
Compared to writing for your own blog, you’ll need stronger skills to be paid as freelance content writer. This includes good writing skills (in the language you’re writing for), SEO knowledge as well as ability to do better-than-others research.
If writing is something you want to explore but unsure how to start, I highly recommend taking this beginner freelance writing course. The course teaches you how to pitch topics, write for client’s content websites and the creator even lets you become a writer for her blog (she only hires writers that goes for her training).
Win-win, that’s your first practice!
How much you can earn as a freelance writer vary according to your experience and topic expertise. Writers can earn up to $100 per article and even more if they’re specialized (like you!).
| What do I need to start? | – Writing skills – Good command of English (or language you’re writing for) – Platform to promote your freelance writing service |
8. Create and sell online courses for actuaries
If online tutoring appealed to you, you should also explore another form of online teaching that allows you to earn even more!
Creating online courses for platforms like Udemy and Coursera are super popular side hustles among working professionals. It allows them to teach modules in a more structured way, engage with an online community and build reputation in the field.
It allows you to reach a wider audience whilst managing your time better. You’ll only need to record these classes once and update them from time-to-time.
The usual price points for a single payment short online course are $30, $47 and $67. Aside from creating courses specifically for actuaries, you’re free to sell courses for anything you’re passionate in as long as it’s helpful and is high in demand.
As courses can be time consuming to make, I suggest you stick to a specific niche from the very beginning!
Some sites you can host online courses on:
| What do I need to start? | – A niched course idea – Well thought out module – Tools to record your lessons e.g. screen record, microphone |
Creating courses is too much work for you? Here’s a list of digital products you can make to sell on easy platforms like Etsy. I’ve made a quick guide on how to make these products too!
9. Purchase properties and rent out on Airbnb
Actuaries are known for their high pay – of course, this naturally comes with the workload and responsibilities!
Thanks to your income that’s generally much higher than others, you can be purchasing extra properties in addition to your main one – and make money from them.
Compared to renting out your place to a single tenant for the long term, it’s much more practical to turn it into an Airbnb instead for short stays. It pays more, there’s less things to worry and you have a great control over your properties.
| What do I need to start? | – A vacant room or property – Some home deco make the place rentable – Platform to market the space |
Check out: The ultimate guide to start hosting on Airbnb
10. Offer freelance actuarial services online
If you’re open to freelance work and have some time to spare, you can become a freelancer on sites like Upwork. There are a wide range of services that are needed so it depends largely on your skills and capabilities.
As an actuary professional like yourself, you can apply to jobs needing real actuary expertise (sample down below). Some clients do still prefer individuals in the actuary field although the task does not require the expertise per se e.g. data-based work.
Even if you’re not entirely confident, you can start small by offering a cheaper rate and accommodating to clients’ requests better than experienced freelancers.
Don’t price yourself too low as your skills are highly sought after!
Ways to promote your services:
- Fiverr
- Upwork
- PeoplePerHour
- Indeed
- TikTok (because anything can go viral here)
- Build your own website
| What do I need to start? | – Ability to carry out a job well (according to guidelines) – Good communication skills with clients – Your hourly rate charge (or per project based) |
11. Sell digital products for Excel on Etsy
Digital products are popular among online entrepreneurs nowadays. YouTubers, bloggers and even influencers on Twitter or Instagram are creating their own digital products to sell.
There’s a long list of digital products you can sell online but it really depends on what you’re good at and able to make. If you don’t have a YouTube channel, a blog or social accounts, you can still be selling digital products on Etsy and make good money from them!
For actuaries, I suggest making Excel templates such as budget trackers. Since you’ll only be making your products once and update it from time to time, there is almost no production cost involved and you can make more than 100% profit margin.
If you didn’t know, Etsy allows listing of digital products that require no shipping on the seller’s end. Once a customer makes a purchase, they will be able to download the file immediately (ZIP or PDF format). As a seller, you’ll only need to respond to customers’ enquiries on a regular basis.
| What do I need to start? | – A digital product idea – Tools to create the digital product – Platform to sell on |
12. Become a professional pet-sitter in your area
Looking for a side hustle that doesn’t require much thinking? Pet-sitting is something you can do – if you’re a pet lover.
Pet sitters mostly make $15-20 per visit and can bring in at least $200 in a single weekend with just 10 visits! It’s a side hustle suitable for anyone with great pet skills and experience handling their own furry friends.
Instead of just becoming a pet-sitter for friends and neighbors, consider promoting your services online and reach a bigger audience. Offering a professional pet-sitting service would require upskilling on your part to offer services like grooming and even home boarding.
Handling pets can be therapeutic!
Services you can include with pet sitting:
- Walking
- Home boarding
- Sleepovers and night care
- Training
- Bring to vet
- Basic grooming & care
- Travel trips
| What do I need to start? | – Good skills with pets e.g. dogs, cats – Tools for the service you want to offer – Socializing to get clients |
13. Sell your own designed merchandise with print on demand
If you’ve thought of starting an ecommerce business but still unsure what kind of biz to get into, I recommend trying out print on demand – here’s seven reasons why POD is for you.
With print on demand, you’re basically selling merchandise you’ve designed yourself on sites like Etsy through suppliers that will handle all orders for you. It works quite similar to dropshipping as you don’t need to purchase any inventory prior to receiving an order or manage your orders physically.
Once a customer makes a purchase, POD suppliers like Printify and Printful will print your designs on their ready merchandise and ship it out to your customers directly.
You’ll just need to make designs using tools like Canva or Kittl then upload them to merchandise like t-shirts, phone cases and tote bags – more down below. Alternatively, you can purchase ready designs on marketplaces like Envato Elements or Creative Fabrica.
If you’re always working at your desk, you’ll love these well-designed mats in your study!
| What do I need to start? | – Basic designing skills – A laptop to work with – An initial niche and product |
Can’t decide what product to design and sell? Check out my product guides before deciding!
- Tote bags for print on demand
- Tumblers for print on demand
- Phone cases for print on demand
- Posters for print on demand
- Leggings for print on demand
- Jewelry for print on demand
- Candles for print on demand
- Doormats for print on demand
- Hoodies for print on demand
- Pet products for print on demand
- Socks for print on demand
- Pajamas for print on demand
- Blankets for print on demand
- Baby clothes for print on demand
- Wrapping paper for print on demand
- Puzzles for print on demand
- Stickers for print on demand
- Athletic wear for print on demand
- Hats for print on demand
- Journals for print on demand
- Greeting cards for print on demand
- Mugs for print on demand
9 Free Side Hustles For Actuaries
Here are 9 free side hustles for actuaries:
- Promote affiliate links on social media
- Freelance content writing
- Selling Excel digital product templates on Etsy
- Starting a personal YouTube channel
- Teach others via recorded online courses
- Design and sell merchandise with print on demand
- Reselling stuffs you no longer use for extra cash
- Tutoring school kids online
- Delivering food or packages
11 Business Ideas For Actuaries
Here are 11 business ideas for actuaries:
- Property rental
- Excel digital product
- Consulting
- Online courses
- Carwash or car-detailing shop
- Moving company
- Affiliate marketing
- Home cleaning
- Fitness center
- Food truck
- Pottery
Which Side Hustle Should I Choose?
Unsure which side hustles for actuaries you should go for? Here are the top 6 things to consider when deciding which is best for you.
- How much time can you commit to it?
- Consider how much time you can set aside for your side hustle for weekdays and weekends
- What type of income are you looking for?
- Do you want to make income actively or passively while you sleep?
- What sparks interest & passion in you?
- Choose a side hustle that aligns to your personal goals and interests as it keeps you motivated
- Are you an extrovert or an introvert?
- Different side hustles requires different level of communication with the outside world, are you comfortable meeting new people every day?
- What is your current partner or friend up to that you can leverage on?
- Doing something with a friend or partner makes things easier and more manageable
- How soon do you need to make extra money?
- Not all side hustles make the same amount of money in the same pace, do you need money today or in a year’s time?
Bottom Line
Exploring a new side hustle takes time and great effort on your part. With a busy schedule and a demanding actuarial job, it might be challenging to juggle.
Give yourself some faith and try things even if it’s ‘slow progress’. You’re not competing with anyone else and no knowledge is ever wasted!
Life is finding what resonates to you the most. That’s why, I always encourage my readers to build passive income streams aside from having a stable full-time job.
Here are 13 best side hustles for actuaries:
- Teach others online as a part-time tutor
- Start making videos for your own YouTube channel
- Build a podcast in a niche you’re passionate about
- Start a blog guiding other actuaries
- Become an affiliate marketer and earn commission
- Learn photography and sell photos online with stock websites
- Get paid writing for other blogs and websites
- Create and sell online courses for actuaries
- Purchase properties and rent out on Airbnb
- Offer freelance actuarial services online
- Sell digital products for Excel on Etsy
- Become a professional pet-sitter in your area
- Sell your own designed merchandise with print on demand
I’m not one to brag, but blogging has changed my life. I’ve been able to earn an income passively while on a coffee date and traveling with my family. With everything, it takes time to learn and not an overnight success – to speed things up, get yourself a blogging coach before starting.
These are my blogging resources to help you out:
- Step-by-step guide how to start blogging in your free time
- Why you need a blogging coach right from the start
- Worried of exposing yourself? You can blog anonymously
Photo by Skylar Kang
