How To Plan For Retirement In The Gig Economy
The COVID-19 pandemic heightened the gig economy, with freelance and gig marketplaces like Gigsmart and Upwork both reporting increases in their users. Some projections show freelance workers will account for half the U.S. workforce by 2023. In January of 2021, Statista published results from a survey conducted in 2018 showing 27 percent of full-time gig workers had no money saved for retirement. While the flexibility and autonomy of self-employment can be appealing to many, the lack of employer-sponsored 401Ks, fluctuating incomes, and insufficient financial guidance can make long-term financial planning difficult and daunting....