Yes! There is no such thing as security in our job market. We have a laughable safety net. Traditional employment is temporary at best, subject to the whims of crap management, unqualified boards, nepo "executives" and 19th century hiring practices. Count me the fuck out!
I feel the exact same way! I’ve been self-employed for 15 years and have started two different businesses. I’m not a freelancer, but rather a fractional operations consultant with 3-4 long term clients at a time + a gardening blog that generates side income. That means I have 4-5 income streams at any given time. I pay 100% of my health insurance, contribute to a SEP, work virtually, take every Friday off and gift myself 6 weeks of vacation spread out over the year. I get to construct my employment in the way that works exactly for my life. No one is forcing me to come back to the office 5 days a week or cutting my pay without my consent. I used to think it was more risky to be self-employed, but my fed worker brother is concerned he’ll lose his job this year and my municipal worker sister was forced back into the office 5 days/week. If I lose a client due to the current administration I’ll likely be able to replace them with another.
Thank you again for opening my mind to a new perspective. I have always worked for tiny businesses with one owner, or for myself. So far, this has meant I "earn" less than almost all of my friends, which automatically makes me wonder if I'm doing something wrong. But I see, again and again in my friends, the fear of being laid off from one of these big companies and how much stress it creates. I don't necessarily think that the employment route I've taken is better, but this post helps me to realize it's definitely not worse! At the very least, it's closer to my value system. Thanks again for your wonderful posts and making this one available.
Thank you so much, Kristi! This is exactly why I think it's so important to challenge the status quo; it's awful that so many people are in your position, feeling like they're doing the right thing for them but always worrying that they're doing something "wrong" because it's not in line with cultural expectations.
Thanks so much for this, Dana! This hits hard and I am desperately trying to not go back to a corporate 9-5 job after my personally funded sabbatical, for all the above same reasons. Sadly, my savings and brokerage are quickly dwindling and the safety net that I created to have the luxury to even explore this, is now a scary reality. It of course takes time and patience to secure freelance work (which I did! yay) but for me, what’s most daunting is now doing all the math to make sure I have enough hours, that my rates will generate the cash flow I need, etc. I didn’t do this in advance as I just wanted to try and do the damn thing but that’s where I am right now! Looking forward to taking a look at your resources 🙌
I admire your decision to prioritize self-employment despite the traditional wisdom that a stable job is the ultimate goal. Your story is a great reminder that security comes in different forms, and diversifying income streams can be just as valuable as a ‘steady’ paycheck. What advice would you give to someone who wants to move toward self-employment but is afraid of losing the ‘stability’ of a traditional job?
This is an important question! I have a podcast episode in the queue about getting started with freelancing/self-employment that should address this, and I'll link it here when it's published.
It irks me that traditional employment is perceived as the gold standard. Corporations are not inherently benevolent. They offer benefits because it's the norm and/or to attract talent, but as soon as they can let go of something and get away with it they will (as they have been doing with pensions). Corporations will sacrifice everyone's well-being for the sake of profit, and so many people are willing to overlook that in exchange for 2 weeks of paid time off that they may not be able to take because of pressure to be at work. Because they have to.
I wish no one had to work unless they wanted to, but here we are.
I feel similarly. 17 years self employed now. Challenges -yes. Sometimes hair pulling and nail biting. But if I lose a client I don’t lose 100% of my income. If I need flexibility,it is mine. I do t have to put up with being g treated disrespectfully because “otherwise you are not a team player”. I could go on.
So many great perks! The biggest pull for me is the flexibility. When I've had the opportunity to return to full-time work, the idea of clocking in at 9 a.m. and asking another adult for permission to take a day off just turned my stomach. (Tons of reasons it works for other people, but it's a tough sell for me!)
I think freelancing makes sense for some sectors but not others. I have spent 25 years in the UK public sector. The skills and knowledge I have acquired is of little use in the private sector let alone as a freelancer.
That's definitely true of freelancing specifically; you can't turn any job into a freelance job. I have seen lots of people translate skills learned in the private sector or government work into self-employment, though, or take on freelance work on the side of another job to diversify and add more stability. (I'm not aware of the experience of public employment in the UK, though — maybe you already have more job security than the average worker?)
Yes! There is no such thing as security in our job market. We have a laughable safety net. Traditional employment is temporary at best, subject to the whims of crap management, unqualified boards, nepo "executives" and 19th century hiring practices. Count me the fuck out!
I feel much more secure as a freelancer — or... at least, more in control of my own security.
That is a perfect way to phrase it!
I feel the exact same way! I’ve been self-employed for 15 years and have started two different businesses. I’m not a freelancer, but rather a fractional operations consultant with 3-4 long term clients at a time + a gardening blog that generates side income. That means I have 4-5 income streams at any given time. I pay 100% of my health insurance, contribute to a SEP, work virtually, take every Friday off and gift myself 6 weeks of vacation spread out over the year. I get to construct my employment in the way that works exactly for my life. No one is forcing me to come back to the office 5 days a week or cutting my pay without my consent. I used to think it was more risky to be self-employed, but my fed worker brother is concerned he’ll lose his job this year and my municipal worker sister was forced back into the office 5 days/week. If I lose a client due to the current administration I’ll likely be able to replace them with another.
Thank you again for opening my mind to a new perspective. I have always worked for tiny businesses with one owner, or for myself. So far, this has meant I "earn" less than almost all of my friends, which automatically makes me wonder if I'm doing something wrong. But I see, again and again in my friends, the fear of being laid off from one of these big companies and how much stress it creates. I don't necessarily think that the employment route I've taken is better, but this post helps me to realize it's definitely not worse! At the very least, it's closer to my value system. Thanks again for your wonderful posts and making this one available.
Thank you so much, Kristi! This is exactly why I think it's so important to challenge the status quo; it's awful that so many people are in your position, feeling like they're doing the right thing for them but always worrying that they're doing something "wrong" because it's not in line with cultural expectations.
Thanks so much for this, Dana! This hits hard and I am desperately trying to not go back to a corporate 9-5 job after my personally funded sabbatical, for all the above same reasons. Sadly, my savings and brokerage are quickly dwindling and the safety net that I created to have the luxury to even explore this, is now a scary reality. It of course takes time and patience to secure freelance work (which I did! yay) but for me, what’s most daunting is now doing all the math to make sure I have enough hours, that my rates will generate the cash flow I need, etc. I didn’t do this in advance as I just wanted to try and do the damn thing but that’s where I am right now! Looking forward to taking a look at your resources 🙌
I admire your decision to prioritize self-employment despite the traditional wisdom that a stable job is the ultimate goal. Your story is a great reminder that security comes in different forms, and diversifying income streams can be just as valuable as a ‘steady’ paycheck. What advice would you give to someone who wants to move toward self-employment but is afraid of losing the ‘stability’ of a traditional job?
This is an important question! I have a podcast episode in the queue about getting started with freelancing/self-employment that should address this, and I'll link it here when it's published.
In the meantime, I shared some freelancing tip based on my experience: https://www.healthyrich.co/p/become-a-freelance-writer
And I have a class on how to start freelancing that speaks to the idea of creating financial stability before taking the leap: https://www.healthyrich.co/p/how-to-start-freelancing and one on landing your first freelance gig: https://www.healthyrich.co/p/land-your-first-freelance-gig
I hope this gives you a good start, and I'll come back to you when the podcast is ready!
Thanks Dana! I'm excited to dive in. Can't wait to hear the podcast!
It irks me that traditional employment is perceived as the gold standard. Corporations are not inherently benevolent. They offer benefits because it's the norm and/or to attract talent, but as soon as they can let go of something and get away with it they will (as they have been doing with pensions). Corporations will sacrifice everyone's well-being for the sake of profit, and so many people are willing to overlook that in exchange for 2 weeks of paid time off that they may not be able to take because of pressure to be at work. Because they have to.
I wish no one had to work unless they wanted to, but here we are.
💯💯💯!
I feel similarly. 17 years self employed now. Challenges -yes. Sometimes hair pulling and nail biting. But if I lose a client I don’t lose 100% of my income. If I need flexibility,it is mine. I do t have to put up with being g treated disrespectfully because “otherwise you are not a team player”. I could go on.
So many great perks! The biggest pull for me is the flexibility. When I've had the opportunity to return to full-time work, the idea of clocking in at 9 a.m. and asking another adult for permission to take a day off just turned my stomach. (Tons of reasons it works for other people, but it's a tough sell for me!)
I think freelancing makes sense for some sectors but not others. I have spent 25 years in the UK public sector. The skills and knowledge I have acquired is of little use in the private sector let alone as a freelancer.
That's definitely true of freelancing specifically; you can't turn any job into a freelance job. I have seen lots of people translate skills learned in the private sector or government work into self-employment, though, or take on freelance work on the side of another job to diversify and add more stability. (I'm not aware of the experience of public employment in the UK, though — maybe you already have more job security than the average worker?)
Employees in the UK already have more security than in the US. We don't allow "at will" employment.