Volume 5 | 3 tips to Save Money After Retirement | Insight into the Gig Economy | A vital Skill Every Employee Should Have
3 Tips to Save Money After Retirement
It is never too late to start saving. These tips ensure that you have the funds to live out the post-work life you’ve always dreamed of!
1. Get Out of Retirement
There is no need to return to the rat race of your 9-5. Explore the various part-time options where you earn money while still enjoying your free time. A great way to do that is to get into the gig economy. Pick up shifts whenever you want and work the jobs you enjoy!
2. Become a Roommate
Live the Golden Girl lifestyle! With a roommate, you’ll get friendship, a lower cost of living, and less space to take care of.
3. Invest Wisely
After retirement, you will want to make your investments less risky than when you were younger. That does not mean you shouldn’t invest at all. Invest in stable companies that give out dividends. You will earn a higher return on investment in stocks than waiting for a savings account to grow.
Insight into the Gig Economy
When the pandemic began at the start of 2020, the traditional workforce saw a shift towards a new market. With more people home and more freetime on their hands than ever before, the gig economy took off. Yet this ultramodern word still sounds gibberish to many. It is now time to understand what the gig economy is and the benefits of gig work.
What is a Gig Economy?
In a gig economy, companies will hire self-employed persons through an online platform to work flexible, temporary jobs.
Examples of a gig position
There is a wide range of roles that fall under the gig category. People can drive for Uber or deliver food for Doordash. Even traditional staffing agencies have transitioned to online platforms to efficiently connect employees with part-time work.
The Benefits of Gig Work
There are many benefits of Gig Work for both the employee and the employer. A business finds attractiveness in how cost-effective the process is. By hiring off-site employees, the company can cut costs on maintaining a large office. Additionally, outsourcing to independent contractors eliminates the cost of employee benefits, retirement plans, and PTO. Employers also get access to a wider range of talent they can hire from, which first hand connects the right employee to the company. Employees gain the independence of working in their own space rather than being tied down to an office space. In the gig economy, employees have flexibility in their schedule, working whenever, wherever. If that wasn’t enough, Individuals can make a little extra income while enjoying what they do.
A Vital Skill Every Employee Should Have
How is it that in every company there is always that one person that gets employee-of-the-month every month? These stellar employees may seem like your average colleague, but they all exhibit one common trait that managers looks for.
“Integrity is doing the right thing, even when no one is watching” -C.S. Lewis.
An employee with solid integrity will get their work done while respecting their colleagues and managers. These employees create a workplace with a positive culture of trust and honesty.