When many of us think of gig workers, we envision millennials. They have undoubtedly embraced the freelance economy, but they are increasingly working alongside Americans in midlife and beyond who are seeking creative ways to stay employed past the traditional retirement age.
Data from Hearts & Wallets, a source of retail investor data and insights, shows that one-third of future retirees expect to earn one-quarter of their income by working, up 7 percentage points from 2016. And more older workers are looking at the gig economy as an option for keeping their income going. The freelance payment platform Hyperwallet just found in new research that 12 percent of 2,000 female gig workers it surveyed were ages 51-70. Their main reasons for freelancing were to earn money and stay active in retirement. While that’s not a staggering percentage, it’s important to realize that women in this age range have not historically been well represented in entrepreneurship, when it comes to participation levels.