Financial Advice for Retirement, Social Security, IRAs and Estate Planning

The Gig Economy And Retirement Jobs

Published on: Sep 26 2018

This article says you might want to reconsider things if your plan includes spending a few years in retirement making extra money from gig jobs, such as driving for one of the ride-sharing companies. It says incomes have plummeted for drivers who use the technology companies.

JP Morgan suggested that the growing number of drivers could have put downward pressure on hourly wages, or that drivers may be averaging fewer hours than before.

“Regardless of whether the drop in earnings was caused by a fall in wages or hours or both,” the study reads, “it indicates that driving has become less and less likely to replace a full-time job over the past five years, as more drivers have joined the market.”

 

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