A few things:
You can never phase out Aunt May. She is the most important member of Peter's supporting cast.
Peter can still interact with his old friends from the Bugle without still working there.
And what update could you give Peter when it comes to being a freelance photog that wouldn't be an absurd stretch? And to what gain? Peter doesn't have to earn his living as a photographer in order for ASM to feel like ASM.
It's not as integral to the backbone of his world as being a reporter is to Clark Kent.
But this is all just dragging the thread off-topic again so I'll leave it at that.