Ah, retirement. You’ve saved and prepared and dreamed of that time when you can throw away your alarm clock and do whatever you want to do. But at some point, you may find you need a little structure, purpose, or a prompt to keep your brain working. Or maybe your retirement savings aren’t quite enough to fund that trip of a lifetime. You’ve heard great things about the gig economy and are wondering, “Is freelancing a good hobby for retirees?”
You’d like a bit of income but one that comes with flexibility, control, and the excitement that comes with a new adventure. Freelancing may be just what you’re looking for.
3 Reasons Why Freelancing in Retirement Can Be Beneficial
There’s nothing wrong with being an older freelancer who’s new to freelancing. You have experience and skills that will translate into running a successful freelance business after retirement.
You’re in Control
I found a freelance career helpful when raising children, mostly because it also allowed me to be a full-time mom. That flexibility is also key when freelancing as a senior. You don’t want to be bored, but you crave more time to spend with family and friends, travel, work on a hobby, entertain, volunteer, or organize those closets you said you’d get to someday.
Whether you want a full-on second career or a fulfilling side hustle (even if your main hustle is an afternoon nap and avoiding those closets), a freelance side hustle for retirees might be the way to go. Freelancing means doing as much or as little as you want to—and you can even change it up as your own needs and wishes evolve.
You Feel Purpose
As an older freelancer, you may have valuable experience that allows you to work in your field of expertise as a consultant, or maybe this means you finally have the time and energy to branch out in a new direction. If you still find meaning in the work you did before, don’t feel like you have to abandon it. Continue on in a way that puts you in charge.
Another way to find purpose in freelancing is to join organizations that need volunteers. You can help to guide people starting their careers, be part of an advisory board, or get involved in pushing for policy changes—either at an institution or at the government level. These opportunities vary depending on the field you’re in.
You Get to Do Passion Projects as a Freelance Retiree
When I told my financial advisor I wanted to “retire” from my usual technical writing and editing and move my practice to more creative endeavors, she asked me when I wanted to retire from doing that. I said I didn’t think I’d ever retire. Or I hoped I wouldn’t. Freelancing in retirement gives you the flexibility to work when you want to, for whom you want to, and to switch gears if you want to.
Whether that’s a shift within a field you already work in or moving all your energy to something brand new, let yourself follow that dream you might have considered out of reach when you were working full time.
What are Types of Freelance Jobs for Retirees?
If you aren’t interested in consulting within your previous field, there are still ways to leverage that experience and apply new energy to launch an interesting second act.
Freelance writing
The biggest problem with a writing career when you’re young is that you often don’t have all that much to say. As we age, we find we have a lot to say about the world. Here’s your platform! There are many ways to find calls for articles in all kinds of fields, and you can start by simply doing an online search for “freelance writing jobs.” However, if you haven’t written before, it might be hard to break in without any samples of your work.
The best way to start is by writing about the work you know best. Does your industry have a trade magazine or a professional organization? They often look for articles by experts in that field. If you have a good idea for an article, pitch it and let them know about your experience.
After you have some solid pieces published, widen your range of pitches until you find the niche you really want to write in—or don’t narrow it at all and write widely. Remember not to stress about freelancing as a senior; you’re in control.
Freelance design
This broad field covers many types of work. Some of them require specific training, and if you don’t already have that, you may not want to pursue it (although if that appeals to you, go for it!). Put some thought into it if you’re the artistic type. This work could be anything from website design and development, marketing and advertising, book covers, or a myriad of other kinds of graphic illustrations.
You’ll need to develop a portfolio similar to the way a writer does, and turning to the field in which you have the most experience can help here as well. Remember, any work you do counts for your portfolio.
While you’re building your business as an older freelancer who’s starting out, you may decide to take on work that doesn’t pay. That still counts—no one is going to ask how much you were paid for each piece. Gather it all together and proudly display it to potential clients.
Freelance editing
Do people ask you to fix their writing? Do you find errors in things you read all the time? Maybe working in an editing field is for you. There are all kinds of editors—from developmental editors who find plot holes in a story to proofreaders who pick up the little errors that everybody else missed.
Several organizations connect editors with education, jobs, and other editors. These include the Editorial Freelancers Association (EFA) the National Association of Independent Writers & Editors (NAIWE), and ACES: The Society for Editing . It’s very satisfying to help others get their work ready for publication.
Freelance tutoring or freelance teaching
Do you love training and passing your experience on to the next generation? Tutoring and teaching can mean working with anybody from young children to adults. It’s a great way to combine a love of teaching while exploring “is freelancing a good hobby for retirees?”
Online learning is an enormous field and an easy way to have a fulfilling teaching/tutoring experience without being restricted to one geographic place. You can do this type of work from anywhere you have an internet connection. I’ve done my online teaching from balconies overlooking the ocean in Mexico, on cruise ships, and at my sister’s place in Florida (before my first margarita).
Yes, I have to teach every business day, but it only takes an hour or so most of the time, and I easily organize the rest of my work, writing, and leisure activities around it. Life doesn’t get much better than that. That’s why, when asked,” Is freelancing a good hobby for retirees?” I declare, “Yes!”
What Should I Know about Managing Income Freelancing in Retirement?
No matter when you actually retire, the US Social Security Administration (SSA) considers 67 to be the age of full retirement, but you can start collecting Social Security as young as 62. So, if you take early retirement and choose to receive your benefits before age 67, you should be aware that there are limits to how much you can earn before the government starts reducing that benefit until you reach full retirement age. The SSA has a good explainer about that. After full retirement age, there is no limit applied to earned income.
The other aspect of managing income while freelancing in retirement is working as an independent contractor (IC). If you’ve only ever worked as a W-2 employee, IC work can be a bit daunting, but it’s not that difficult when freelancing as a senior. Not all types of freelancing require you to incorporate or otherwise set up your own business. I’ve worked for more than 20 years as a sole proprietor with no problems. But you will need to track income and expenses for tax reporting and probably pay quarterly taxes.
Of course, if you have any questions about managing the financial aspects of this work or how it affects your other retirement income, it’s best to consult with an accountant or other financial advisor.
Considering “Is Freelancing a Good Hobby for Retirees?” Remember to Be Retired
Freelancing in retirement should be exciting and—dare I say it?—fun. You may choose to put a lot of time and energy into this new phase in your life at first, but it should smooth out after a while. The whole point of being an older freelancer s to give yourself some enjoyable but productive time that still allows you to enjoy the benefits of having achieved what you have in your previous work life.
Near my computer, where I can see it all the time, is this: “You can say yes to anything, but you can’t say yes to everything.” Only say yes to projects that make you happy. And stop if you want to. Then, you get to have a second retirement party!
