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How to Plan for Retirement in a Gig Economy

August 16, 2021

Being your own boss. Making your own schedule. Taking control of your career. Those perks and others—including not worrying about being downsized by your company—drive professionals into self-employment all the time. In fact, the gig economy keeps growing year after year.

How big is the gig? Pretty enormous. The month before the 2020 pandemic exploded, CNBC reported that independent contractors made up anywhere from 10% to a third of workers. Then, Covid hit, and though some freelancers lost their work, more joined into the fray of the gig economy in an attempt to recession-proof their jobs. Accordingly, Forbes estimates that the percentage of gig economy workers should head toward the 50% mark by 2023.

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