Some believe that the gig or sharing economy benefits millennials, but it may be an even more fit for baby boomers looking to boost income during their pre- or un-retirement. Next Avenue contributor Chris Farrell takes a look at some of the pluses and minuses of this economy.

The gig economy (operated through companies such as AirBnB and Uber) allows people to work without making a full-time commitment. However, the controversy in the gig economy makes it better suited for baby boomers:

That’s because its companies commonly treat workers as independent contractors rather than employees. These employers aren’t required by law to pay contractors a minimum wage, reimburse expenses or make Social Security and Medicare contributions for them. At the same time, the independent contractors aren’t entitled to unemployment insurance benefits or workers’ compensation.

Read more >