Many retirees find that they miss work and the sense of purpose they once had after a few years into retirement. So, it’s no surprise that 7.2% of independent contractors are 70 or older, according to research from ADP.
Though working as independent contractors, consultants or freelancers can bring in extra income with part-time hours, there are some drawbacks, namely that retirees must pay self-employment tax on their earnings.
