You've Got This. Really, You Do! Freelancing For Baby Boomers
Freelancing isn't just for millennials. The gig economy is open to everyone, and baby boomers are increasingly taking advantage of it. Many are turning to the virtual workspace to earn extra income, have flexible work options, bulk up their retirement funds, or even transition into retirement.
According to Gitnuxblog 2023, 29% of Baby Boomers, 55+, are freelancing. James and I are 61 and 62, respectively, and we both freelance to earn income and stay engaged & active. Earning an income online was a prerequisite for me to move abroad. I had to know I could continue making money for many reasons: I couldn't get a job as a non-resident in Costa Rica, I wanted to stay viable and of service, I was afraid of "disappearing," and I enjoy working on my terms.
The Paradigm Shift
The rise of the internet has made freelancing a viable option for those of us who want or need to make money without having to take on a full-time job. A paradigm shift is occurring, and baby boomers are poised to enjoy it.
This shift is enabling us to continue working but working on our terms. There isn't a rule that we must retire, and too much evidence says staying engaged as we grow older is a psychologically and physically intelligent thing. So what is this paradigm shift?
We live longer, are more active, and have better health than any generation before us.
The internet is ubiquitous, and work is part of the global market.
There is a growing acceptance of remote work, and it isn't going to diminish.
As baby boomers, we can create schedules and find as much or as little work as needed. Plus, with so many freelance opportunities available — from web design to proofreading to specialties such as engineering, operations management, and more — there are plenty of ways for baby boomers to find something that fits their skill set and interests.
There Is So Much Work That Needs To Be Done
As the definition of retirement continues to evolve, we baby boomers can supplement our incomes with freelancing. More baby boomers are taking advantage of the increasingly flexible online opportunities in the gig economy, from writers and editors to virtual assistants and more.
Not only can freelancing be a financially rewarding venture, but it also gives experienced professionals more freedom regarding their work.
We can choose when we want to work, where we want to work, and what type of projects we want to pursue. For baby boomers needing more time to be ready for full-time retirement, freelancing offers a happy medium between 9-to-5 employment and complete leisure.
Baby boomers are often considered reluctant to embrace technology, but this isn't necessarily true. This demographic of people born between 1946 and 1964 has become increasingly active in the digital world, especially when it comes to freelancing or gig economy work. And working in the new economy is a learnable skill.
According to Bloomberg, "more than 75% of US businesses prefer to hire freelancers in uncertain economies." In 2020, the global freelance market was valued at $1.5 trillion, projected to reach $2.7 trillion by 2028.
A Final Thought
As more companies look for ways to cut costs by outsourcing tasks instead of hiring full-time employees, more and more opportunities are available for virtual freelancers of all ages.
Whether we want to earn extra income, have flexible work options, bulk up our retirement funds, or transition into retirement, baby boomers make up many gig economy workers.
If you're looking to earn an income and you want to do it your way, whether it's while transitioning to what's next, finding yourself in an unexpecting situation, wanting some m&m (massages and margaritas 😉) money, wanting to hold off on social security for a little longer, or anything else, freelancing could be precisely what you're looking for.
To find out more about how we can help you learn to freelance and start earning an income, click here.
You've got this.
Be Truthful, Gentle, and Fearless ~ Gandhi
Jeanne and James