By Carol H Cox
Many people find it challenging to consistently and sufficiently put money away for retirement. Workers who piece together their monthly income from freelance and part-time jobs can find this particularly challenging. It’s easy to get lost in the trees of “making a living” and lose sight of the forest of “providing lifetime income.”
Social Security will no doubt still exist when the freelancers of today retire, but by then who knows at what age retirees will become eligible and how much money they will receive? Individuals will need to depend more on their own savings for their post-working years.
Your expected retirement date may seem quite distant, especially if you’re looking out over a 30-year, or more, time horizon. So why start now? Well, it’s usually much easier to put away relatively smaller amounts of money over a lengthy period than much larger amounts later in life. Continue reading “Retirement Savings in the Gig Economy”