Different people will always have a different definition of retirement. As a retiree, you may decide to start a freelance design business. You’ll be focusing on what you love. For instance, if you’ve always thought of being a writer, your retirement will offer you a chance to delve into that hobby.
The majority of the people in the world usually delve into freelancing after retiring. Freelance writing offers the opportunity to delve into your interests. You’ll also earn more money since you’re the one responsible for your schedule and you’re not answerable to anybody except yourself and the clients.
Regardless of your retirement plan, freelance writing can easily fit into your schedule and retirement lifestyle. Since you’re answerable to no one, you can spend as much or little time working on your freelance gigs. If you want to start a freelancing career, some of the things that you should know include:
Write about what you know
If you are interested in freelance writing, focus on writing what you know. Utilize the knowledge that you possess to attract clients, especially if you’re a new writer and don’t have a track record regarding published work. For instance, if you worked as a software developer before retiring, you can write about technical topics and white papers.
Even though you would like to get into different writing types that do not relate to your past work experience, starting by writing what you know allows you to come up with more work samples that can help you get more clients. As a retired individual, you can also make use of the best retirement calculator.
Devoting time to pitching clients
Building your freelance career means you should look for clients continually; however, one common mistake that new freelancers make is focusing more on writing instead of taking time to look for new clients.
You may feel that it makes sense to focus on writing since it helps generate income; however, if you fail to take enough time to get new clients, you’ll lack work after each gig comes to an end. By making client pitches, you can generate sustainable income.
Focus on the taxes
As a freelance writer, you’ll be paying self-employment taxes. None of the clients you work with will withhold the taxes from your payment. You’ll have to file the 1099 contract employee with each client, which means you owe them money during the tax season. The majority of freelance writers find it convenient to remit tax payments quarterly to avoid encountering any issues each April.
As a retired individual, the tax situation may seem complicated compared to freelancers who haven’t retired, especially if you are eligible for pension and social security, which are not fully taxable. It is advisable to liaise with a tax expert or accountant when you launch your freelance career since they are in a position to understand your tax situation better. By soliciting such advice, you’ll be in a position to set aside enough cash to cater to the tax bills.
Besides freelance writing, other freelance careers you can opt for include:
1. Freelance Project Manager
If you have handled office management tasks before, you can find a freelance job that suits your project management skills. Your work experience may have entailed managing vendors and teams or striking a balance when there is group collaboration.
Such skills are marketable once combined with personal experiences gained through running a busy home or managing a family. Your professional network can help to attract different leads. As a result, you should ensure your LinkedIn profile has been updated.
2. Freelance Web Developer
IT is an integral part of the workplace, which means many people are experienced in handling programming tasks. Some of the IT tools have improved and changed significantly over the years. If you are interested in technology, there are freelance opportunities you can take hold of, including managing and designing websites to offer remote technical support for different online businesses that are unable to hire an IT manager on a full-time basis.
As a tech enthusiast, you can also opt for technology tutoring. You may also take time to learn new skills as a way of keeping your brain in good shape. Check out different design and programming courses online and utilize them accordingly.
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