Author: Diana HC Tan

Freelancing is loosely defined as any work that is independently contracted, from driving a Grab taxi, teaching a small group class, to running a small business.

The idea of continual work may be beneficial to retirees who were actively engaged at work previously. By continuing to work, it builds self-esteem and better self-regard. Besides, there is financial freedom if you are freelancing on a paid basis. Even if you already have sufficient retirement funds stashed away, it is a bonus to have some extra dollars to spend. The extra funds could be used to buy high quality toys for your grandchildren, or to fund more self-learning, or to travel, or if more philanthropically-inclined, the extra funds could be donated to someone or an organization in need.

Freelancing could be a good solution for people who are still healthy in mind and body but mandated by law or corporate guidelines to retire, or for those who just want to slow down in the later years, but who do not have enough savings to retire outright.

Freelancing also gives you an opportunity to be your own boss. Now you can choose what you want to do, when you want to report for work, and set the dollar value of your work.

Freelancing can be on a part or full-time basis. Providing consultancy and mentoring services are forms of freelancing that seniors could consider doing. The experiences chalked during the years in management for example, could be shared with younger managers. So think about speaking at conferences, or during lunchtime gatherings at corporations. Alternatively, set up online webinars or recordings that you can sell to corporations.

Other freelancing work includes being a yoga or fitness teacher, or a child carer. Another idea is to be a carer for another senior (assuming you are fit and healthy). Or offer your service to bring physically-challenged seniors for their regular appointments. Put on your creative cap and perhaps you can come up with a new service niche.

Credit
The idea for this article from an article in the New York Times. Read more by following the link below:

Cowles, C. (2019-09-12). “Over 50 and Freelancing to Fill the Gaps in Retirement Funds”. The New York Times. https://www.nytimes.com/2019/09/12/business/retiring-freelancing