Joey Mustain

Do you work as an independent contractor, a contract worker, a consultant or a freelancer? If so, you’re part of what’s known as the “gig” economy – and you may need to make some extra moves to help reach your financial goals.

For starters, you need to set up your own retirement plan. Fortunately, you have several to choose from, possibly including a SEP-IRA and a “solo” 401(k), which works much like an employer-sponsored 401(k).

Also, since your income may be uneven or unpredictable, you’ll need an emergency fund to pay for unexpected costs, such as a major car repair. Keep this money in a liquid, low-risk account.

One more suggestion: Make sure you have adequate insurance to protect your family and your livelihood. A financial professional can help you determine the types of coverage you might need.

These aren’t the only moves you may need to make as a gig worker – but they can help provide you with a steady path in a world in which you can’t always tell what lies around the corner.

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