Record High of Self-Employed Individuals Over 60 Due to Cost of Living Crisis
Monday, 26 August 2024, 00:18
Financial Landscape Shift: Self-Employment Rise
The cost of living crisis has significantly impacted older individuals, pushing many to seek self-employment as a viable income source. This growing trend not only illustrates the evolving financial strategies among those over 60 but also showcases their resilience in the face of economic challenges.
Key Reasons Behind the Self-Employment Surge
- Rising Living Costs: An increase in daily expenses has made state pensions insufficient.
- Flexible Work Hours: Self-employment allows for better adaptation to personal schedules.
- Skills Utilization: Older individuals can leverage years of experience in freelance or consulting roles.
Financial independence at this age is paramount, and many are finding that self-employment is a suitable avenue to achieve this goal.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.