It’s not just millennials who are making money in the gig economy. Seniors are also finding they can use their expertise to earn cash without getting tied down to a job.
The gig economy encompasses a wide range of employment opportunities and has been spurred by the development apps and websites like Uber, DogVacay and TaskRabbit. Through these platforms, people can choose when and how they work. Since participants aren’t employees with set hours, the work may often be a “side gig” rather than a full-time job.
Nearly a third of those who work exclusively in the gig economy are baby boomers, according to 2017 research from Prudential. Of those, 75 percent say they are satisfied with their current work situation and wouldn’t want to change it.
Here’s a look at how three seniors are making the gig economy work for them.
[Read: 10 Resume Mistakes That Make You Look Old.]
Lawrence Miller: Sharing Business Savvy Online
Lawrence Miller had an impressive career. The Potomac, Maryland, resident started working in the field of business organization and corporate culture in 1973, helping companies such as 3M, Xerox and Corning become more efficient and implement team-based management. He founded a successful consulting firm, sold it after 20 years, wrote a couple books and then took up sailing.
“I was out on the ocean one day and it just hit me,” Miller, now 72, recalls. “What am I doing?” After a lifetime of challenging and rewarding work, retirement felt empty. Miller still thought he had much to offer. “Why should someone whose work is intellectual quit at age 65?” he asks.
Miller returned to consulting and later stumbled across the online learning platform Udemy while looking for help learning to play guitar. The website allows people to create and upload online courses on a wide variety of topics. Miller decided to teach the business principles he had honed over his long career.
“I enjoy sharing my knowledge,” Miller says. However, his traditional consulting work required extensive travel, and Miller was ready to be retired from hotels and airports. Udemy and the gig economy provided a solution. “I’m earning a decent monthly income, and I’m doing it from home,” he says.
[See: 8 Popular Part-Time Jobs for Retirees.]
Bill Carder: Continuing a 47-Year Education Career
Although he started his career in sales, Bill Carder became a California teacher in 1970. Then, after 41 years of teaching in public and private schools, he decided it was time to call it quits. “I officially retired in 2011 and moved to Atlanta,” he says.
There, he was nearby his daughter and two grandchildren. However, a change in their circumstances meant the three would eventually move in with Carder and his wife. “We weren’t destitute by any means,” Carder says, but the additional family members “necessitated a little more income.”
To boost the family’s bottom line, Carder originally envisioned getting a job at the local hardware store, McDonald’s or retail shop. He had heard Trader Joe’s would hire seniors, so he tried applying there. They didn’t call back, but Varsity Tutors did. The website connects students with local and online tutors.
At Varsity Tutors, Carder, today 76, found a flexible job to bring in extra income. “It keeps my brain from getting soggy,” he says. It also reminds him how much he loves teaching and how good it is to be appreciated for something you can do well. “I’m still at the top of my game,” he says. “I think I’ll have to be carried out before I quit.”
[See: 10 Tips for Working in Retirement.]
Alex Arends: Meeting People and Providing a Service
Not every senior working in the gig economy is looking to continue a previous career. Alex Arends of Comstock Park, Michigan, took a different track for his current work.
The 72-year-old worked for 31 years in corporate loss prevention and fraud investigations. While he quit that line of work in 2011, he continued to serve in other capacities, including two terms as a township supervisor. Arends retired from public service in 2016, but wasn’t ready to stop working completely.
Today, he drives for Lyft, a ride-sharing service that lets him schedule his own work hours. “I thoroughly enjoy this position,” he says. “For me, it is relaxing and allows me to serve the public.”
Plus, there are tax benefits that come from using a vehicle for work. Drivers may be able to deduct work vehicle expenses. Although the tax deduction is nice, Arends says driving for Lyft is about more than money. “It offers the opportunity to interact with all kinds of people,” he says.
Miller, Carder and Arends find the new gig economy appealing. It’s a chance to do work that feels less like an obligation and more like an opportunity to stay sharp, share skills and make connections in the community.
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3 Seniors Who Are Making Money in the Gig Economy originally appeared on usnews.com
