“Gig” Work for People Over 50

There are a variety of “gig” or portfolio career types, depending on whether one is looking for supplemental income for their day job, or looking to support oneself entirely from a portfolio career.  Here the most common examples:

Freelance Writing

Freelance writing roles are an exciting career path because they allow writers to demonstrate their writing ability while building a portfolio of writing types such as blog posts, web pages, social media content, articles, scripts and books.

As a freelance writer, you can set your terms, build your portfolio, and even budget with various clients. This opportunity allows for the development of diverse writing styles and techniques, as clients seek “ghostwriters” to adopt different styles.

As freelance writers hone their craft and build up an impressive portfolio, they may gain new clients while expanding their reputation within the industry, potentially increasing earnings and career development opportunities even during retirement years.

For someone with expertise in a particular industry or professional field, freelance writing offers an opportunity to continue to use your knowledge and expertise to make supplemental income.  For example, freelance writers with medical field experience can provide invaluable knowledge that would benefit a medical journal or publication looking for someone to develop and fact-check content for its client base.  The same is true, of course, for any industry.

Project Management

Working as a project manager opens doors across numerous industries or within your current niche of expertise.  Project management is an expanding sector with high demands for professionals with experience.  There will likely be many job openings for individuals with years of career expertise in project management.  At the same time, in a job market like the current one, where layoffs are plentiful, the field of project management can be very competitive. We highly advise project management certification like a PMP (Project Management Professional) to enhance your credibility (and to provide you with valuable knowledge and skills).  

Working across teams and stakeholders requires strong teamwork skills.  You need effective communication, leadership, and problem-solving techniques.  Other related careers include program management, project coordination, team leader, business analyst, and project scheduler.  

Information Technology (IT) / Tech

Opting for a career path that spans IT and technology can help you leverage existing skills while staying up-to-date on emerging advances.  Technology is changing at an exponential rate.  Keeping up with changes such as AI, ChatGPT, machine learning, and even coding will keep your skills relevant.

Businesses and organizations increasingly turn to IT professionals to stay competitive and efficient.  This enables the organization to focus on its core competence.  Having IT management skills can be lucrative, especially as organizations are increasingly using contractors with specific skills and expertise, rather than adding high salaried employees to their balance sheets.  Some IT and tech programs can be learned at home for beginners through online courses and self-study so, if you're constantly seeking ways to expand your skill sets, this could be just the thing for you.

Consulting

Consulting can make an excellent retirement career choice as it utilizes your years of experience to assist businesses and individuals in solving issues and making informed decisions.  If you worked in a particular industry or functional area, and have expertise, you can call upon that knowledge to consult with companies, usually at a rate of your choosing.  If you have management consulting experience, of course, that is optimal for proving your credibility and obtaining work.

Consulting is an ideal way for retirees with industry knowledge to keep working (part time) while building up their retirement savings.  There are several companies that seek "consulting" from individuals who specialize in an industry or function (e.g., Healthcare IT, manufacturing), or who have recently left organizations.  There are some boutique agencies with a client base of either vendors or investors who want information about specific industries, companies, or sectors, and who come to the boutique agencies who help them find experts for very brief consulting engagements (usually an hour or two of "brain picking").   These short engagements typically pay anywhere for $150-$500/hour.  Most of the time, these companies source people from LinkedIn, so be sure you keep your LinkedIn profile current, and continue to work your network.   

Social Media

Potential retirees or career changers looking to use their expertise remotely could capitalize on social media by producing content creation services or managing social media accounts for businesses remotely (or by creating their own blogs).

Platforms like Facebook provide individuals access to a diverse global audience, enabling them to connect globally with potential clients and customers.

Board of Director Seats

Another potential income source is to secure a seat on a corporate board.  Board seats vary a great deal.  Frequently, organizations seek board members with technical, financial or marketing expertise, who can help grow the organization's business.  Board seats are often compensated positions, and the compensation can be very attractive.  However, not all board seats offer compensation, and board positions can be hard to come by.  Not-for-profit Boards typically require investments from Board members to support the mission of the not-for-profit.  For profit start-ups often seek board members with a vast "rolodex"/network of contacts, who can connect the business with potential future customers.  There are several agencies/companies that offer the opportunity to help you find board seats.  Typically, they charge approximately $200/month to help connect you to organizations seeking board members.  There are absolutely no guarantees of placement.  This doesn't negate the pursuit of board seats as an income source; however, the best approach to securing these opportunities is to work your network.