Hi,
If you're between the ages of 55 and 70, you're navigating a unique stage of life.
First, here is a brief overview of Generation Jones for those of you who may be unfamiliar with it. *I am Generation Jones.
Who is Generation Jones?
✅ Born Between 1955-1965: Often considered the bridge between Baby Boomers and Generation X.
✅ Name Origin: "Jones" refers to "keeping up with the Joneses," symbolizing this group's competitive and aspirational nature. Also, "Jonesin'" for more. 😉
✅ Cultural Identity: Gen Jones grew up during significant cultural and political shifts, like the Civil Rights Movement, the Vietnam War, HIV and AIDS, and the dawn of personal technology.
✅ Key Traits: Pragmatic, adaptable, and often juggling dual responsibilities of supporting aging parents and grown children.
Financial concerns, caregiving responsibilities, and questions about purpose can be overwhelming during this time.
While traditional retirement may have been the goal for previous generations, you may need to redefine what it means to "retire."
For many, it's about finding balance—continuing to earn, staying engaged, and maintaining the flexibility to live on one's terms.
Freelancing and remote work can be powerful tools for you.
Whether you're looking for supplemental income, a meaningful way to stay connected, or a bridge to a new chapter of life, freelancing offers opportunities that fit your needs and skills.
Late Baby Boomers (1946-1954)
Average Retirement Age: You might find yourself retiring around 62, like many Baby Boomers.
Retirement Savings: The median household retirement savings for individuals aged 65-74 is approximately $200,000, while the average is $609,230. Many have significantly less, highlighting disparities in financial preparedness.
Financial Preparedness: You're not alone if you rely on Social Security benefits as your primary income source during retirement. A significant portion of your peers share concerns about outliving their retirement funds.
Continued Work Trends: You may consider part-time work or freelancing in retirement to stay active and engaged.
Freelancing can help you stay relevant, connected, and purposeful, providing a sense of contribution and vitality as you navigate this new phase of life.
Generation Jones (1955-1965)
Average Retirement Age: If you were born between 1955 and 1965, you might anticipate retiring later than earlier generations, often around 64, though financial and health concerns and a desire to stay engaged may cause you to delay even further.
Retirement Savings: Your median household retirement savings may fall around $185,000, with nearly 50% of individuals aged 55-65 having no retirement savings. This creates challenges for planning a traditional retirement.
The Sandwich Generation: If you support aging parents and adult children, you are part of the "sandwich generation."
This dual responsibility can strain your finances and make retirement savings more difficult. Freelancing offers a way to generate supplemental income while maintaining the flexibility needed to manage caregiving duties and engage in meaningful work.
Workforce Participation: If you're still working full-time or part-time to maintain financial stability, freelancing can be your primary income source or a side gig. I
It also provides opportunities for connection and purpose, helping you navigate this stage of life with confidence and fulfillment.
"Older" Generation X (1966-1970)
Current Ages: If you're part of the older Generation X, you are between 55 and 59 years old and share many challenges with those in Generation Jones.
Retirement Savings: Your median household retirement savings likely align closely with individuals aged 55-64, with many of your peers still working full-time while planning for a delayed retirement.
The Sandwich Generation: Like Generation Jones, you may balance caregiving responsibilities while managing your career.
Freelancing can provide an avenue to supplement your income or prepare for a more flexible career as you age.
Career Transitions: As you consider your next steps, freelancing offers a way to contribute your skills and expertise while staying active and avoiding stagnation.
This path allows you to maintain a sense of purpose and engagement while maintaining financial independence.
Key Points for 55-70-Year-Olds:
🔑 Higher Reliance on Continued Earnings:
To bridge financial gaps, explore flexible earning opportunities, such as freelancing.
🔑 Longevity Planning:
With longer life expectancies, ensuring your savings last through retirement is essential for maintaining financial independence.
🔑 Leveraging Expertise:
You have decades of professional experience that can be monetized on freelance platforms. This provides both income and the flexibility to work when and where you want.
🔑 Purpose and Engagement:
Freelancing isn't just about income. It's about staying connected, relevant, and engaged in a changing world.
For many, freelancing provides a sense of purpose and a way to combat the "fuddy-duddy factor"—avoiding stagnation and staying vibrant in later years.
*This is very important to me and a big reason why I engage in work the way I do.
🔑 Supplemental Income Options:
Freelancing can serve as a side gig alongside a "day job," offering financial security and the chance to transition into a fully flexible career when ready.
Why All This Matters
Retirement is evolving. It's no longer just about stepping away from work but finding ways to maintain financial stability, purpose, and flexibility.
Depending on your situation, choosing to do nothing or putting off what you don't want to look at can lead to increased financial stress, missed opportunities, and a diminished sense of purpose. Taking proactive steps now ensures you stay empowered to shape your future.
Freelancing allows you to control your time, leverage your skills, and stay engaged in a fast-changing world. Freelancing provides opportunities for growth and connection at any stage of life.
💥 One Last Thing…
Freelancing is more than just a way to earn money—it's a lifeline to relevance, purpose, and connection in a rapidly changing world.
Whether you're looking for supplemental income or a meaningful way to stay engaged, the opportunity to redefine your "retirement" is within reach.
If you're ready to explore how freelancing can support your goals, I'd love to help.
Let's connect and take the first step toward building a flexible and fulfilling future together.
Share your thoughts in the comments or reach out directly—I'd love to hear your story!
Earn Digitally and Thrive Globally!
Jeanne 🌺
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