A lot of advice on freelancing is aimed at one particular audience, the millennial generation. This is for good reason, a lot of people in this age group are seeing the benefits of going freelance. It’s now easier to do than ever.
But what about other age groups? Another group of people who could benefit a lot from freelancing are people who have retired and aren’t ready to completely give up working but would like the flexibility that freelancing could bring them.
Benefits of freelancing during retirement
First of all, any opportunity to earn more money at your own pace is great. Even if you’re receiving a regular income from a pension, it can be really useful top it up with income from freelancing.
Don’t give up on work
Just because you’ve retired from full-time work doesn’t meant to say you’ve got to stop working altogether. Some people find they miss the structure and the sense of achievement they get from a productive work day.
Control the amount you work
The best thing about going freelance is that you’re free to take up work or turn it down whenever you want. If you’re already retired and are not relying entirely on freelance income, then you’ve got more freedom to choose to do as much or as little as you want.
Make money out of a passion project
While working full-time and raising a family, it can be hard to put as much time into passion projects so they often end up taking a back seat. This is a good time to get back to doing what you used to love and see if you can make some money out of it too.
If, for example, you’ve retired but have always loved writing, then now could be a great time to pursue this and see if you can land paid work as a writer for businesses.
Put your knowledge and experience into practice
Retirees have an edge over millennial freelancers in the amount of experience and knowledge picked up over the years. This means that you could easily establish yourself as an expert in your chosen niche if you’ve got years of experience working in that particular industry.
A word of warning
A lot of people who go freelance underestimate the amount of responsibility they have to take on if they’re serious about building a business out of it.
Not only will you have to do client work, you’ll also have to manage your accounts, your marketing and all the admin that goes along with building a business.
If you’d rather not do all of this, you can outsource these tasks to web designers, writers, or virtual assistants. This will give you more space to concentrate on client work. You could even hire a fellow freelancer to help out and also make a useful contact at the same time.
Have you ever considered freelancing as a retiree? What advice would you like to see out there? Let us know what you think in the comments section!
Want to learn more?
Subscribe to our newsletter to get accounting tips like this right to your inbox
About The Author
An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.