WORKING PART TIME IS nothing new, but the gig economy makes it more attractive than ever to take a high-paying hourly job. Rather than toiling in a single full-time job, online employment platforms make it possible to string together a number of part-time positions for a career that features flexible hours and expanded free time.
However, part-time employment has downsides when it comes to retirement. While full-time workers can receive enticing perks like retirement plans and health insurance, gig workers and others with part-time hours may be solely responsible for their own savings and benefits. That can make it difficult to prepare for the retirement lifestyle you want, especially if you only work a single part-time job.
“I’m going to tell you as a retirement planner … it is not possible for most people,” says Wendy Terrill, owner of retirement planning firm Assurance & Guarantee in Burlington, North Carolina.
Still, for those who are willing to work more than one part-time job, commit to putting money aside in a retirement fund and make smart choices about insurance and benefits, retiring comfortably is doable.
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