How Retirees Can Take Advantage of the Gig Economy

June 10, 2019

Whether you’re already retired or about to become a retiree, chances are you wish you had a bit more money in your nest egg.


In the past, it was difficult to fund retirement outside of a company pension plan, but this is no longer the case. The world is increasingly shifting towards what is becoming known as the “gig economy,” and this is good news for seniors who want to create a few extra streams of income.



What is the Gig Economy?


In short, the gig economy refers to your ability to pick up freelance work or side jobs with relative ease. It has become commonplace for people of all ages and socioeconomic backgrounds to pick up this type of work to boost or replace traditional revenue streams.


What Can Older Adults Do?


Depending on their mobility and skill set, there are plenty of options for older adults looking to make some extra cash.


For instance, there are a number of freelance websites which you can sign up with and find work based on your skills.


If you enjoy meeting people, tutoring at the local college or signing up with a food delivery service are both options as well. You are not limited to part-time retail or food service work any longer.


A few other examples of gig jobs include the following:


– Tour guide

– Translator

– Content writer

– Stock photographer

– Handyman

– Pet sitter

– Contract worker



How Does Gig Work Benefit Seniors?


Aside from the obvious benefit of increased income, it can be helpful to seek flexible side jobs like these for a number of reasons.


First, some older adults can become isolated or too sedentary once they have retired. Having a low-pressure job doing something enjoyable can help prevent the post-career blues.


Many seniors decide to pick up jobs that will help them learn new skills or hone previously learned ones. This is a great confidence-booster, and it also goes a long way towards keeping your mind sharp and alert.


Finally, a “gig” gives older adults opportunities for experiencing new situations, meeting people they would otherwise never encounter and learning about the world around them while making some extra cash. As you age, these types of enriching life experiences become more valuable, so getting to earn money while making great memories can be an ideal situation.


Embracing the Gig Economy


Retirement doesn’t have to mean hanging up your hat forever. Instead, try transitioning from a full-on career to a fun side hustle so that you can make money while doing something you enjoy.



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