Baby Boomers and Freelance Economy

The Beatles said: “Will you still need me? Will you still feed me, when I’m 64”?.

Beatles, When I am 64

There are 76 million people in America that make up the great Baby Boomer generation – those born between 1946 and 1964. These Baby Boomers are retiring at a rate of nearly 10,000 per day. Having worked all of their lives, they enjoy well deserved retirement, love to spend time with their families, take up hobbies, travel and explore.

However, we all know Baby Boomers that want to stay active and not just enjoy the life of leisure. More and more Boomers are considering working in retirement or even whole new careers because:

• They been forced into early retirement through company downsizing, outsourcing or family health reasons or other events;

• They know they need to supplement their income at least for a certain period of time because they expect to live longer and their retirement savings are not enough or growing all that fast;

• They want to feel productive and useful for a while longer and feel that a little extra cash is better than volunteering.

Since most of them worked for a company on a full-time job, they do not know how to work outside of the traditional 9-5 job. So here is the key question: can this growing population of skilled retirees become and succeed as freelancers in this rapidly evolving, technical and flexible economy?

The answer is a resounding YES in our opinion.

Freelance Economy

Freelancing has evolved from a small portion of the economy to become one of its mainstream segments. Today it is one of the most important sources of income for professionals in many fields. Freelancing contributes well over $700 billion annually to the US economy and growing rapidly.

It is no longer limited to unemployed professionals doing some tasks while they search for a permanent job. Skilled professionals with many years of experiences are joining the ranks of freelancers and making it their career. Anyone that has the right approach to work you can make income and grow as a freelancer.

There are several factors that resulted in the growth of freelancing trends. Important among them include, increasing demand for talented professionals, growth of online freelancing sites, advances in information technology, rapid increase in small businesses, cost saving advantages, increasing work flexibility, and decline in number of traditional jobs.

Baby Boomers in the Freelance Economy.

Boomers are known for their purpose, passion and work ethic. As a generation, they worked hard and achieved a lot. The Baby Boomers have great attention span and dedication. Whatever project they may be working on they somehow find a way to dig in and get the work done with high quality. For them a job well-done is satisfying.

It makes perfect sense that this generation can continue being productive while working at their pace outside of the traditional 9-5!

Boomers have the proven knowledge, skills and abilities in their chosen fields. They are engineers, accountants, marketers, managers, and craftsman with experience and knowledge just waiting to be tapped.

The biggest hurdle for these Boomers is how to find meaningful project based work that meets their passion, skill and availability. Boomers also need to learn how to take advantage of the technology that makes freelancing easy.

Opportunities are abound and not just for technology jobs. Many freelancers earn $30,000 + per year doing what they enjoy at their own pace. However, success depends on determination, planning and willingness to learn new ways to work.

Taking the first step

Baby Boomers entering or exploring the freelance market must have a plan and stick to it. First step is to find on-line talent platforms, understand how they operate and get on-line.

As with any other work, success does not come overnight. But with the right approach Boomers can stay active in their retirement, earn money and enjoy what they are doing.

Stay in touch with Almarelo to follow how we are helping Baby Boomers to achieve their goals of active retirement in the Freelance Economy.

Join us to start your journey to a rewarding and redefined retirement