Freelance Retirees - 12 Tips On How To Make Your Money Last Longer

Freelance retirees have an advantage over other retirees because they can change their work life balance and retire part time to make their money last longer.  The AARP in an article, dated 12th January 2017 by Kerry Hannon called it as "Retiring Part Time".  In the same article Kerry stated that "Almost 20% of Americans 65 and older are working".  This is an important change in society. 

Freelance RetireesFreelance Retirees Make Money Last Longer 12 Tips

Here are 12 tips on how to make you money last longer as a retiree:

12 tips on how to make your money last longer

  1. Know what you life expectancy is by using an online tool to estimate your longevity. One of the calculators is found here. There will be other accessible by a Google search.
  2. Talk to your financial planner about your longevity and what you can do to make your funds last longer by changing your work-life balance or retiring part time.
  3. Your financial planner should be able to give you various scenarios to determine the income you need to make your money last longer
  4. If he cannot help you seek a referral to a lifestyle planning specialist who will help you make an assessment of your skills that would enable you to generate some income to supplement your retirement income.
  5. Ask your lifestyle planner for access to a calculator that will enable you to monitor regularly how much you need to work to keep to your plan for making you money last longer.
  6. Your lifestyle planner should be able to assist you with making an assessment of your skills that you currently have and/or the training that you need to improve your skills.
  7. If you cannot find a lifestyle planning specialist you can use the article here as a starting point: 
  8. Focus on your skills training that will provide you with a payment for your skills that you can invoice clients for rather than income from an third party which is passive income. This is because passive income is subject to internet fraud that is hard to detect and changes in search engine and social media optimization.
  9. Read this article on why training choices matter for freelancers and career changes.
  10. Obtain a copy of the Freelancers Bible if you decide to become a freelancer. You can click on the icon below to obtain a copy.
  11. Obtain a copy of the Kindle eBook How To Be Self Employed - A Freelance Work From Home Guide. You can click on the icon below to obtain a copy.
  12. Subscribe to our Weekly Freelancers Newsletter to get tips on how to be a successful freelancer AND coming soon: gain access to calculators for your financial planner to activate by buying an activation code. To subscribe to the newsletter click here

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