While many people look forward to retirement, an increasing number of seniors are ready to write the next chapter in their lives by starting their own business. Recent research from the U.S. Small Business Administration’s Office of Advocacy found that the percentage of individuals age 62 and over who were self-employed increased from 4.2% in 1988 to 5.4% in 2015.
The number of contingent workers as a share of the U.S. labor force has increased significantly over the last decade. According to a study by Harvard and Princeton University economists, the contingent labor force (independent contractors, temp-agency workers, freelancers, and on-call workers) increased from 10% of all U.S. workers in 2005 to nearly 16% in 2016. The study found that most contingent workers earn lower weekly wages than similar workers in traditional employment situations.
Millennials began investing in mutual funds at an earlier age than prior generations, according to data from the Investment Company Institute (ICI). The ICI survey revealed that each successive generation began investing in mutual funds at an earlier age. The median age at which adult Millennials, born between 1981 and 1998, first purchased mutual funds was 23 years old. Members of Generation X, born between 1965 and 1980, bought their first mutual fund at age 27.
While income is important, women place a high emphasis on other considerations when considering a new job offer, according to the Gallup report Women in America: Work and Life Well-Lived. Gallup’s research found that when considering a new job, women placed the highest importance on the ability to do what they do best, followed by greater work-life balance and better personal well-being, and greater stability and job security.
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