Silver Self-Employed workers work less and earn more

A new survey has revealed that the over 65s are playing the self-employed game best, with the majority working fewer hours, yet are earning more.

The Intuit QuickBooks research of 5,000 self-employed workers, ‘Definitive Study of the Self-Employed’, revealed that the average ‘Silver Self-Employed’ is taking home an annual salary of almost £60,000, yet only works an average 21 hours a week.

Dominic Allon, vice president and managing director at Intuit Europe commented, “Self-employment is often associated with the likes of millennials, creatives in design agencies, teenagers writing code in their bedrooms, or Deliveroo drivers buzzing around our cities on their bikes. But the ‘Definitive Study of the Self-employed’ aims to challenge our assumptions and help us truly understand this workforce.

“With bigger savings pools and a lifetime of acquiring skills and expertise combined with economic factors such as the state pension age increase, ‘Silver Self-employed’ workers are fast becoming an economic force in the UK.”

He added, “Self-employment is not an easy ride – it’s a major leap to leave the security of a full-time job behind and step into the unknown. But there are arguably more opportunities than ever to benefit from the financial and lifestyle rewards available. Financial management is the cornerstone of any successful self-employed worker. Without a clear understanding of what’s going out and coming in, individuals are not set up to succeed.”

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