xoSelf: Securing my Financial Future as a Freelancer

xoSelf (short for Love Yourself)) is a weekly advice series where women can anonymously seek advice on topics about relationships, work, finding themselves or life challenges. xoSelf is responded to by educator & life coach Dr. Walter Hidalgo.

Dear xoSelf:  I am 33-year-olds and have been working as a freelance graphic designer for the past ten years. I save money and have a nice cushion if anything happens, but I’m starting to worry about my future self. I have no retirement fund or long-term savings plan. I need a retirement savings plan for freelancers. Should I be investing in stocks, Bitcoins; what’s the best option for me to look into to ensure I’m financially healthy during my old age and still be able to work as a freelancer? 

Answer:  First and foremost – you are not old!  You still have a lot of life in you!  Any financial expert will tell you that it is a good idea to diversify your portfolio in order to make your money work for you (even when you are sleeping).  I recommend you look up some financial advisors to help you make the best decisions.  I come from the “Rich Dad Poor Dad” camp and recommend you use the 4 quadrants – A job, side hustle, a business, and investments.  So, yes, look into different forms of income but you first must look at your expenses and budget what you can invest based on your comfort level.  If you have children, I recommend looking into life insurance.  I also highly recommend you (and others) look into real estate.  Real estate is something that everyone should have in their portfolio.  Good luck!

Related article: How to Become a Freelancer and Make Money from your Blog

Dr. Walter Hidalgo is an educator and coach. He has a master’s of arts in Church History and Sociology from Union Theological Seminary at Columbia University and a doctorate from New York Theological Seminary where his focus was on the intersectionality between Hip-hop culture and socio-spiritual movements. He has taught in universities, high schools, prisons, not-for-profit organizations, and faith-based
institutions from all over the world. And finally, he is the author of the critically acclaimed book, “Beyond the Four Walls: The Rising Ministry and Spirituality of Hip-hop” where he
has worked with numerous Hip-hop artists, educators, and youth from all over the world to