retirement

Prepare for retirement as a freelancer

Retirement » Prepare For Retirement As A Freelancer

Independent workers need to plan
Independent workers need to plan © Andresr/Shutterstock.com

The modern workplace has changed markedly, with many workers calling the shots by doing contract work or freelancing. At the last official count, roughly one-third of the working population -- or about 42 million Americans -- operate as independent workers, according to the Freelancers Union.

While this freelance economy has brought the freedom to kick irritating bosses and restrictive company rules to the curb, it also has meant saying goodbye to perks such as employer-sponsored retirement plans and matching contributions. Freelancers and so-called solopreneurs must take retirement preparation into their own hands, a task that requires both financial discipline and a realistic life plan.

Here are five ways freelancers and other independent workers can prepare for retirement and secure their financial future.

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