The current ‘1099 Economy’ is being driven by a reduced supply of well-paying, full-time jobs, said Anthony Humpage, CEO of Legacy Education Alliance. Humpage added that it is also being driven by the internet, which is making it easier for creative individuals to carve a niche that reflects their interests. According to the Freelancers Union, 53 million Americans are now freelancing, or 34% of the entire U.S. workforce. Humpage said many freelancers are rightly anxious about their financial futures, but many more have an optimism and determination that they can and will make themselves more self-reliant. Finally, Humpage said low interest rates have presented great opportunities for real estate investments which can offer freelancers greater financial stability.
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