Driving for Uber as Retirement Gig?

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I have considered working after I retire and I cannot come up with anything that would give anywhere close to my current pay per hour. And my current job is not very stressful, I work from home 4 days a week and my puppy is under my desk. I may ease into retirement by working less than 5 days a week. For the past few decades work has gotten in the way of my hobbies. Hopefully no more.
 
Originally Posted by Mr Nice
Uber Eats is better since you don't carry any sketchy passengers or risk a lawsuit if involved in a fender bender.




Uber Eats does not pay all that well at all, it works out to about $10 per hour according to a good friend of mine who does Uber and Lyft. (he stopped doing Uber Eats due to the low pay)

He makes on average about $500 per week doing Uber and Lyft and he only devotes about 3 hours per night during the week and about 5-6 hours on a Saturday and then he tries to completely take Sunday off most weeks.

At the end of the day you can't really call it retirement if you're still working. When I retire in 3 1/2 years I really don't want to be doing any type of work at all, I'd only do it if money ended up being super tight. I wouldn't be doing it to "fill my time" as I know I'll have no problem finding things to keep myself busy.
 
Originally Posted by Patman


He makes on average about $500 per week doing Uber and Lyft and he only devotes about 3 hours per night during the week and about 5-6 hours on a Saturday and then he tries to completely take Sunday off most weeks.




500 per week isn't terrible, but is that counting his fuel, wear and tear on car, etc?
 
I've done Uber on and off for about a year. It doesn't pay very well, and usually you basically end up with minimum wage after expenses. If you only drive in certain places at certain times you can make 2-3x that, HOWEVER it can be quite stressful and the risk for problems (like drunk passengers) is much higher. I do like driving (except in San Francisco where I end up about 1/3 of the times I do Uber) and usually the customers are OK... I say usually because it's like any other business... the customers are people, and some are better than others.

If you do Uber, some tips:
1. Don't buy a car just for Uber. If it's one aspect of a decision to buy a newer/more fuel efficient car, that is fine, but it's best to use a depreciated vehicle you already have. It depends on the area, but around here their requirements aren't very strict... Cars can be up to 15 years old in "good cosmetic condition" but that's negotiable... just take it to your friendly neighborhood mechanic you use frequently and have them fill out the Uber inspection form. It doesn't ask about anything cosmetic on the form. My current Uber car (the Escape in my signature) looks OK but my previous Uber car had well over 200K miles and a mismatched door that was a wrong color and it wasn't a problem. Remember they pay the same whether you have a brand new Camry with all the options or a 2005 base model Corolla with half a million miles. You are more likely to get better ratings and more tips with a newer, nicer car - but the difference is not significant. Just keep it clean! A vacuum is your friend. I should have just kept my old Escape, put a little money into it, and kept racking up the miles.
2. Keep track of every mile you drive. From the moment you leave your house to the moment you get back, you've got the app open, those miles are tax deductible. Whether or not you have a passenger, you're driving for the sole reason of Ubering and so use your trip odometer and put it in an Excel spreadsheet or something every night. This will help you a lot later.
3. Don't do UberPool. It's usually more trouble than it's worth and pays less. The only exception is if you're bored and desparate or trying to meet a Quest and are almost there and just need a few more to get to it (Quests are basically you get $X extra if you do Y number of rides in Z time).
4. Don't pick up passengers with a rating less than 4.7. This isn't bulletproof but generally there are reasons they have such a rating. Perfect 5.00 star profiles are rare - either very good passengers or a newer profile (sometimes because they had a bad rating previous and deleted their account and made another one).
5. They just adjusted the rates so that you get quite a bit less than before per mile, but slightly higher per minute. Sucks for me because I generally drive when there is no much traffic.
6. It's a customer service job. Be friendly with your passengers, and yes, that means small talk with everyone who wants it. Since I've started being more friendly and chatty I'm getting like double the tips. Before I would just sorta drive the car and now I'm trying to have pleasant conversations with the passengers. Of course, you can easily tell with body language if they want to chat or not, but at least 50% of people do.
7. Don't worry about your rating. I'm not saying don't take pride in what you do, but five stars is easy if you don't smell like a sewer, have a reasonably clean car, don't drive like a maniac, etc. Once in a while, you'll get a bad rating - don't stress about it. I have a 4.92 and I'm not a pushover. Oh, by the way, don't be a pushover.
 
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When I retired I took up a hobby. That hobby became a well-paying job, which eventually became a very well-paying consulting service. If I ever get tired of my hobby, I'll walk away from it. But for now I'm paid to do something I really enjoy.

So my question is what is it you would like to do in retirement? and can you get paid for it?

Maybe take Motorcycle rides, and write about them. And then shop those stories to both print and on-line Motorcycle magazines.
 
Originally Posted by Nitronoise
dblshock where in wisconsin


Sure, based from Iron Mountain, MI. I'll often head to Manistique (dead top of L.MI.) down to Green Bay into the Fox Valley (paper valley) and south to greater Milwaukee...we haul paper and shipping boxes out of the mills in the forest and GB then bring back scrap cardboard loads so mills here recycle it into new boxes.

Green Bay, the Fox River that feeds it from the south to the vast forests north have always been about logging, paper and processing, I haul it now after decades in sales, all good.
 
I feel the benefit of Uber is the self defined hours. Sure, you can get a job with a similar hourly wage with less stress, but you'll likely have defined hours you'll have to work, and I could see that as a significant detractor in retired life. I really like the idea of Uber Eats though, no passengers. However, I really like the idea of taking something you're already good at (like what you've done the last 30 years), and use that to find a side job that has flexible hours, but still pays you what you're worth. Maybe that's impossible, but I like the sound of it, good luck in retirement! I've got a long way to go, so you probably shouldn't even listen to me.
 
Originally Posted by jeepman3071
Originally Posted by Patman


He makes on average about $500 per week doing Uber and Lyft and he only devotes about 3 hours per night during the week and about 5-6 hours on a Saturday and then he tries to completely take Sunday off most weeks.




500 per week isn't terrible, but is that counting his fuel, wear and tear on car, etc?


The 500 per week is what he makes before counting those things. But he is still in a much better financial position than he was before he started doing Uber, and it's a part time job for him, he still has a full time job that pays him more than 500 per week also. He keeps trying to get me to do it too, but I'd have to buy a different car (my Civic is a 2 door so it wouldn't be allowed) and that would mean I'd have to probably do this for at least a year before it would even be profitable for me. No thanks.
 
Good decision on continuing to work, those who stop working completely usually start to hit the bottle and things go downhill from there. That's my experience with baby boomers anyway.

I think I would rather pick up some shifts at a big box or grocery store than drive an Uber. Casual, easy work that puts you into contact with other humans without any real commitments.
You could also try to monetize one of your hobbies, or buy some investment property.
 
I hope to either work at a golf course part time or work in a chemistry lab taking care of the instruments part time when I retire. Something to get out of the house and make some casino money.
 
Originally Posted by andyd
Wabbout driving for an auto parts chain. Usually a mini pickup or econo box delivering parts to commercial accounts.


Probably worse, those are minimum wage jobs, had a guy who applied for one of my apartments with that job. He didn't make enough to qualify.
 
Originally Posted by andyd
Wabbout driving for an auto parts chain. Usually a mini pickup or econo box delivering parts to commercial accounts.

Our new driver as of about two months at the parts store quit today with no notice to do Lyft full time. He couldn't survive at like $12.50/hr.
 
Originally Posted by grampi
I can't imagine working period after I retire...I think that's called not being retired...to me, being retired means that ALL of my time belongs to me now...


My thoughts also. I retired in 2007 and never had a desire to go back to work. I have plenty to keep me occupied.
 
My friend lives in an NFL city. On a home game weekend, he makes over a grand as an Uber driver. He'll make 3 or 4 hundred otherwise. I don't know if that's before or after Uber gets their cut or if what he's telling me includes gas and expenses. If you live in the right place and aren't afraid of driving strangers around, it could work.
 
Not retiring early would be preferred if money is tight.
Driving Uber may help, but you are making minimum wage in most cases after deducting all the other expenses.
 
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