Freelancers now make up 35% of U.S. workers and collectively earned $1 trillion in the past year, according to the “Freelancing in America: 2016” a survey released October 6, 2016, by the Freelancers Union.
Stephane Kasriel, CEO of Upwork, a top freelance marketplace, has stated that the younger part of the workforce is much more likely to be freelancing. A large chunk, 47 percent, are 18-24. Only 28 percent of freelancers are Baby Boomers, according to the study.
Why is that? Well, there are several reasons.
- You can choose how much and how often you want to work. You can usually work fewer hours and make more money than you would with traditional employment.
- There is now easy access to freelance gigs. There are tons of websites with listings, so you don’t necessarily even have to pitch your services anymore, although you might want to for increasing your rates.
- More money. According to the study, more than half are making more than they were when traditionally employed. There is no income cap with freelancing, you can earn as much as you want, sometimes with less work. You’re also more likely to be doing what you love.
- You can be your own boss. It can be a change to own your own business, but you can have a lot more freedom. While you may be putting in long hours at first, you can eventually charge more and work less. You might even have some passive income. Freelancers generally have more than one source of income.
The number of freelancers is continuing to grow. Freelancing has given so many people freedom to live their life how they want to, as well as financial freedom. You can pay off debt and build a savings and plan for retirement. You can travel the world. The possibilities are endless with freelancing. For most, it is an ideal way to live. It may very well be the way of the future, as more freelancers are starting every day. It may be better to look for great work, than a great job.