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The Gig Economy and the Future of Retirement

Published By: Betterment
Published:  Sep 12, 2018
Length:  8 pages

Although technology has enabled an entirely new kind of workforce, today’s freelancers are technologically behind the curve in using technology to save or invest — especially for retirement. It’s a fact that could have huge impacts on employers as more full-time employees join the gig economy to supplement their income.

Consider this: More than twice as many workers in the gig economy — including those doing it on the side — are saving in cash rather than with the help of an automated tool, according to this new report from Betterment.

The online survey of 1,000 workers in the gig economy also found that:

  • 59 percent use technology to find jobs, but only 19 percent use an automated savings tool or app
  • Almost 40 percent feel unprepared to save enough to maintain their lifestyle during retirement
  • One-third who also have a full-time job are working their side hustle because of a lack of retirement savings


Employers can help all of their employees — and benefit their companies — by supporting them to leverage technology for retirement planning the way they use it in the rest of their lives.