This is not our parent's retirement! A blog for pursuing encore careers, side hustles and gigs in retirement.
Sunday, September 15, 2019
Transitioning to freelancing - Hustler Daily Thumbs Up - September 15
Hello fellow Encore Hustlers
There is a certain allure associated with the word freelance. It has roots with the medieval term for a knight for hire. Now it brings to mind mind thoughts of being independence and working for the highest bidder.
For those of us who are approaching, or are in retirement, the reality is much more mundane, according to this article from the New York Times. The article cites statistics sourced from the Freelancers Union indicating 30 percent of Americans over the age of 55 performed some sort of freelance work in 2018, with freelancing being defined as any sort of independently contracted work, running the gamut from driving for Uber to being a consultant.
For many of that cohort of senior freelancers the extra money covers daily expenses or bolsters retirement saving. However, for some, the decision to freelance is forced upon them by late career layoffs and the inability to find full time employment of equal pay and caliber.
If you fall into that category, or have already retired and are planning to return to work, via the freelance route, then the best course would be to put serious planning before you launch the website or print the business cards.
As a good start, Mr. EH recommends heading over to AARP's Work for Yourself at 55+ and download their toolkit with plenty of information on how to brainstorm, build a business plan, avoid common mistakes, plan for taxes and reach out for support and mentorship.
After all, freelance medieval knights didn't rush into battle without a strategy and a sharp sword. It's better to be Ivanhoe than Don Quixote.
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