Thriving in the Gig Economy
Thriving in the Gig Economy
Thriving in the Gig Economy
Approximately 57 million Americans participate in the gig economy. While the gig economy has been around forever, the number of freelancers has increased exponentially. The need for these freelancers and side hustlers to save for retirement is greater than ever.
The gig economy, which includes independent contractors and freelancers, continues to grow rapidly. With over 57 million Americans participating in this type of work, it’s clear that the shift toward gig work is here to stay. While this model offers flexibility and good income, it also presents challenges in managing finances, particularly when it comes to retirement savings, taxes, and insurance. Fortunately, freelancers can take several proactive steps to improve their financial future.
First, gig workers should secure health insurance and consider opening a Health Savings Account (HSA). The HSA offers a tax-friendly way to save for medical expenses, and after age 65, …
