Baby boomers working jobs in the gig economy are raking in more money than younger workers, are far less financially stressed and are typically more content with their situation, according to a study recently published by Prudential Financial.
Boomers - those above 56-years-old, make an average of $43,600 a year while working 25 hours a week. This compares to Gen Xers (36-55) at $36,300 per year and Millennials (18-35) at $27,500. The younger generations are also working longer hours per week, with GenX at 30 hours and Millennials clocking in an average of 26 hours weekly.
The reason behind the variance in income may be because boomers - due to their age - have more hard-to-find skills in fields in which Boomers appear well qualified, compared to younger and less experienced cohorts.
There are other factors making boomers in the gig economy happy:
“Boomer gig workers are enjoying not only higher levels of income, but also are more likely to be married,” said Jim Mahaney, vice president of strategic initiatives at Prudential Financial, in an email to AARP.
“This means that not only are they more likely to have access to employer-sponsored benefits, but that they are less likely to be the sole source of income as well. These factors, we believe, lead to higher degrees of satisfaction than younger generations of gig workers.”
Surprisingly, just 32% of boomers are their household's sole source of income, vs 49% of Gen-X and 36% of Millennials, which may be linked to the fact that more boomers are married. While 60% of Boomers are married, just 52% of millennials and 39% of Gen-X have a spouse.
This also ties into the motivation behind gig work.
For Boomers and Gen-X, financial worries and making ends meet are the primary concern (46% and 59% respectively). Meanwhile, 75% of Millennials said their gig work is lifestyle related - a number that is high enough to conclude that most live with their parents.
Another factor in higher income among boomers in the gig economy is the fact that they have a higher concentration of hard-to-find, or specialty skills in which they are qualified. The survey suggests that construction, installation and repair jobs are more popular among Boomers - fields which have experienced worker shortages.
Meanwhile, just 19% of boomers say they use online platforms to find work or generate business - as compared with almost half of millennial gig workers.
So it sounds like getting your hands dirty in a high-demand field while being married is the way to go, meanwhile for those 35 and under, the likelihood of ever exiting the parents' basement grows slimmer by the day.


Comments
Knowledge is power as are skills. A degree sitting in an 8x10 frame means nothing if you have no skills and or brains.
So are the illegals out in front of your Home Depot "gig" workers? If so, what kind of tax free, cash income do they make planting bushes and trimming trees? With eight adults sharing a two bedroom single wide trailer.
In reply to Knowledge is power as are… by Bill of Rights
Yeah I get rushed by those stinking beaners every time.I go.
I view the wage disparity as the cost of experience and life skills.
I should not expect to earn as much if I have my arms, face and neck covered with tatoos.
In reply to So are the illegals out in… by FEDbuster
Somebody has to say it. Millenials don’t have the same work ethic.
I make an extra 4-500 a month playing music.
In reply to Yeah I get rushed by those… by Buster Cherry
Hey they moved the goal line and kicked me out of the boomer crowd. Well I was probably bringing the average down a little anyway.
Wait a second, they cheated, takes a real boomer to figure this out:
Boomers - those above 56-years-old, make an average of $43,600 a year while working 25 hours a week. This compares to Gen Xers (36-55) at $36,300 per year and Millennials (18-35)
18-35 is 17yrs while 36-55 is 19yrs. And where do the 56 yo go if boomers are above 56? Today, GenX is suppose to go to ~53,54 and for sure bloomers start by at least 55. I wonder if they moved the cutoffs to cook the results?
In reply to Somebody has to say it… by IridiumRebel
They're the "Lost Generation."
In reply to Hey they moved the goal line… by RAT005
Interesting info. I worked > 60 hours/wk from about 32 to 56 y.o...easily that much.
Made more then $46k also but the work was long and hard. Most of the yutes even back then thought working past 5pm was slave labor.
It's really a matter of priorities. However, if the opportunity to work more was there, i took it. I'm a cheap bastard but my vacations were glorious so the work was worth it. In general, my experience shows the yutes of today are worse and don't even want to work when they're at work.
In reply to They're the "Lost Generation… by Meat Bunny
The argument against work ethic is a bit flawed when it comes to salaried work as an engineer or researcher. When you work in a small business, the logic is even more flawed.
Many of my colleagues and I in the medium-size business world generally treat the workday as a "I'll stay as long as I need to for getting whatever I need to get done for the day" kind of business. The law of averages gives you good days when you go home early, and bad days when you start at 4am go home at 3am. Been there, done that.
The small business world, especially when it comes to engineering design services - you put in mad hours. Used to work 12 to 16-hour days five days a week, and 4-5hrs each day on weekends.
Things tend to average out in big business. The 9-5 is definitely a thing.
Maybe I'm biased because I know lots of really smart and excellent young people around 25-35.
In reply to Interesting info. I worked >… by CheapBastard
American gig-economy:
you can make a bit more money on welfare in Ontario (doing nothing at all while getting free healthcare, and paying much less rent for a better place etc) than if you drive Uber 7 days a week in San Francisco. Driving assholes around town and risking your life in the worst traffic in the US.
In reply to The argument against work… by Skateboarder
Older people work harder, they are more committed to their jobs and have way more experience. This isnt news.
In reply to you can make a bit more… by Killdo
maybe in the US - in Yugoslavia judging by my parents is completely different - they did nothing and had everything
In reply to Older people work harder,… by brushhog
As 56 yo until recently I certainly was NOT a boomer.
Anyway, we created some big flaws in our society by ever increasing taxes and false propagation of feminism. We don't produce off spring anymore. But hey, we import the Central-Americans (US) and Arabs/ negros (EU) to compensate and everything is going to be just fine.
In reply to Hey they moved the goal line… by RAT005
Protesting in a vagina hat just doesn't pay what it should.
Basic minimum income should help, though.
In reply to As 56 yo until recently I… by NV2018
thats the thing ya gota do in this free range tax farm
In reply to Somebody has to say it… by IridiumRebel
Fuck you.
In reply to Somebody has to say it… by IridiumRebel
Truth hurts
In reply to Fuck you. by Mtnrunnr
It's not their fault, though. These kids run in packs....all of them, as they have been conditioned for collectivism. Classes are always using Groups, now. When I was in school our work was mainly individual with some group interaction as needed. Now, it's the other way around.
In reply to Somebody has to say it… by IridiumRebel
They use groups to allow failing students to pass. Brings up the averages. Gives bonuses.
In reply to It's not their fault, though… by headless blogger
Why are these discussions based on age group? Sure on average the "millennials" don't have good work ethic, but the dividing line is not age... its the liberal tendencies which were pushed from above. I'd wager a break down in millennial numbers by political leaning and job/ education type would show quite a bit. Normalize the study to only be in competitive markets (that is, state sponsored indoctrination into communism as a job is not a job) and the data would be eye opening.
Any analysis stopping at age bracket is a poor study. Any place you have a bad work ethic, debt ridden womens dance study millenial you also have a failed parent of some variety. Supplying your children with good food, housing, safety, and love IS NOT good parenting. It's a start, and a piece of the puzzle. Without teaching the important concepts such as sacrifice, personal responsibility, and integrity the parents have failed their children. I know so many people who fit the "stupid millenial" genre and the story is always the same. Parents make a lot of money...give them whatever they want... and never taught them the value of a dollar or the concept of taking care of and thinking for themselves. Often these parents are quite conservative, but for some reason fail to pass on what helped define their own success.
In reply to Somebody has to say it… by IridiumRebel
Yes much was taken for granted and is now being lost. Complaining about work is standard conversation now. Work and responsibility used to be a given, a way to show you were an adult. All the virtues that make life work well were ridiculed and were replaced by glorifying grumbling and magnifying feelings.
Responsibility and politeness became rude and crude. Take care of yourself and help out others became “I got mine.”
In reply to Why are these discussions… by name_the_user
I'm a Boomer, and I get to work 15 to 20 minutes early every day. Two Millennials are in our work group. They get to work 10 or 15 minutes late each day.
In reply to Somebody has to say it… by IridiumRebel
None in my area. I need a tree trimmed. I already know no one will show up for less than $200. I didn't want to buy a bunch of tools but yes, I will buy a long pole and do it myself.
So sick of being overcharged for basic fucking work.
In reply to Yeah I get rushed by those… by Buster Cherry
Not a job I'd touch with a 10-foot pole.
In reply to None in my area. I need a… by HRH of Aquitaine 2.0
Saw an infinitely cool little chain saw mounted on the end of an extendable pole - 25' or so. Brand name.
About a thousand fiats. Certainly there are more limbs to do than just yours. Could be a gig.
In reply to Not a job I'd touch with a… by Meat Bunny
Chainsaw on a stick...
I think you can get them for less than that.
The problem is with tall trees where you either need to climb or use a platform. I've got a couple that'll need pros to trim cos I'm not willing to fuck about in high places with a chainsaw.
In reply to Saw an infinitely cool… by Proofreder
Wana pay peanuts? You get monkeys.. uninsured and underskilled monkeys.
And when they tip the crane or fell the tree into your living room, you will wish you employed a professional.
I make a very decent living doing said "basic fucking work". And im a millennial! Been outa home for 20 years! Holy shit!
In reply to None in my area. I need a… by HRH of Aquitaine 2.0
$200 is a deal. Too much liability in tree trimming
In reply to None in my area. I need a… by HRH of Aquitaine 2.0
Don’t forget the free trips to the ER for themselves and their litter that cost us “legals” a few hundred billion each year.
In reply to So are the illegals out in… by FEDbuster
The local ER, the local public school, SNAP, WIC, fucking Section 8.
Enough. Just enough.
In reply to Don’t forget the free trips… by _triplesix_
I went to a lab recently for a simple check-up blood test and the room was packed with Mexicans. I asked the lab tech where'd they come from and how they can afford the lab tests. She said they get it for free from welfare. "Free" meaning we are paying for this!
Build the wall, cut free shit to these non-citizens like Ron Paul says. They will stop coming.
Even the Muslim Paki down the road at the convenience store is now supporting President Trump. He said he's tired of working hard and paying taxes to support all these illegals. He said trump needs to build the wall to keep them out.
Interesting.
In reply to The local ER, the local… by HRH of Aquitaine 2.0
Enforce the laws penalizing employing illegals.
In reply to I went to a lab recently for… by CheapBastard
Pakis are usually pretty smart. I'm not sure why Mexicans aren't, but working with them can be very frustrating. They really have a hard time with math.
In reply to I went to a lab recently for… by CheapBastard
According to this hidden cam, illegals won't work for less than $25 --- tax free.
https://www.youtube.com/watch?v=Lq4WBOkFNtE
Doing jobs Americans won't do my ass.
EDIT: BTW, the democrats stole Doug Ford's slogan, "For the People".
In reply to So are the illegals out in… by FEDbuster
Illegals in my area charge $60/hour for most stuff in your house. The lawn guys charge $30/hour.
In reply to According to this hidden cam… by ACP
At those prices I'd do it myself.
In reply to Illegals in my area charge … by CheapBastard
I wish I had half of the drive and motivation of these devils. Oh wait, I DO.
In reply to So are the illegals out in… by FEDbuster
The illegals outside Home Depot are best thought of as scouts. While doing their day labor at your house they pay close attention to your place, and the neighbors'. A week or so later the burglaries commence.
In reply to So are the illegals out in… by FEDbuster
Well known in the SW. If landscapers or a yard sale are in the neighborhood keep your tools locked in shed and don’t leave your garage door open. Another tip if you have nice bicycles you keep in the garage, make sure they’re locked on the rack. They’ll walk in and ride off with them if you keep a garage door open for any length of time. That’s one of their tactics, riding thru neighborhoods looking for open garage doors. BTW, Albuquerque, highest burglary rate in the country.
In reply to The illegals outside Home… by Pernicious Gol…
Brains don’t have anything to do with it. It’s who you know or what your sex/skin color are. (Middle class / poor white men are fucked)
In reply to Knowledge is power as are… by Bill of Rights
I agree, at 56 I see lots of hard working guys in their 20s and 30s, but they are mostly in business for themselves. Tree cutting service, well replacement co. cement business, electricians, solar installers. Getting on at a good paying company, like PG&E here, isn't as easy being white as when I was younger.
In reply to Brains don’t have anything… by Mtnrunnr
Degrees and their requirements are useful to employers in only one sense - proof you can stay on task more than 4 minutes. Otherwise that paper's useful shelf life is 18 months max.
Boomers do have skills not easily found. Like how to change a flat tire without an IPhone.
In reply to Knowledge is power as are… by Bill of Rights
Pretty sure Xer's can do that too, and adjust the timing if you still have a timing light around.
In reply to Degrees and their… by pparalegal
So you're saying majoring in sex, drugs and binge-drinking is a no-brainer?
/sarc
In reply to Knowledge is power as are… by Bill of Rights
You should see what I have to pay a GOOD HVAC Tech, the trades are the way to go.
In reply to Knowledge is power as are… by Bill of Rights
"A degree sitting in an 8x10 frame means nothing if you have no skills and or brains."
Not if you are a jew. Uncle Shlomo will always get you in at a position above the stupid goyim.
In reply to Knowledge is power as are… by Bill of Rights
Illustration: $90/hr to consult for 6 months. Possible extension or right to hire.
Discuss the pro and cons of the gig...
Probably not worth it if they’re waffling like that. I don’t take side gigs under $100/hr, and only at that for people I really like. It’s just not worth the extra paperwork...
If you’re unemployed, it’s probably worth the risk, but make sure you’re looking for something else the entire time you’re working that contract.
In reply to Illustration: $90/hr to… by Bigly
I think this kind of stuff is a bad bet myself.
Outsource your whole company. That's the ticket!!!
No core competency retained.
Not recommended.
In reply to Probably not worth it if… by canisdirus
LOL
SJW equality of outcome?
Pretty sure the difference is the boomers actually show up for work.
Pagination