5 Reasons You Should Quit Your Mundane Day Job

New article, let me know what you guys think of it.

 

I looked it over. A couple issue. Let me preface this by saying that I've been working for Numero Uno for 14 years now.

Point #1: While it sounds like a great idea, many people shouldn't leave their jobs. They should get educated and work on a better career. For many, it's fun to think about being your own boss, but it's just not in the cards.

Point #2: Yes, when you first leave your job, working from home will seem like a dream. However, many will find that it can be a hinderance to greater success. Still, who the hells wants to fight traffic daily. At the very least, get an office by your home.

Point #3: Ah freedom. Again, for many this will be a double-edged sword. A segment of the new business owners will fail because of this. Depending on your business, freedom can be somewhat limited. But, I haven't worked for someone else in ages. I don't remember what that's like.

Point #4: Be careful. Make sure you hire a good pro to handle your taxes.

Point #5: You got it. I often forget how limiting working for someone else can be. Many times I want to hop on a jet and go somewhere, but family/friends can't until their "vacation time" comes. Yuk.

I'd stop just short of saying you can go anywhere anytime, but I've yet to encounter a month where I couldn't work in a trip somewhere.

Job or self-employed, if you live without some restraints, you'll fail.

Also, it's easier for some (like those making small wages--30k or less) to quit than others.

 

Its a load of rubbish

Would disagree that 99.95% of people world wide work for a boss - self employment is massively higher than that. The 70% statistic is also misquoted (from memory), the actual stat was that 70% of people believed they worked more strenuously than their boss.

Not having to commute? That depends on what your new business is. If you are a self employed management consultant you still have to travel to your clients. If you are a shop owner you still have to travel to your shop and still need to go to suppliers etc to pick up stock

3 & 5 - The Man is frequently simply replaced by clients/ customers and so you have no more freedom. Unlike the Man who may tell you off for deciding to pull a sickie for a few days with self employment, you dont work, you dont get paid or you have to pay someone else to do your work for you in which case you take a significant hit in profits.

4 - Tax is one benefit but the statement is too broad and as stated should be checked by an accountant which introduces new costs.


The artically is basically simply wrong. You are in for a very rude awakening if you think that quiting the day job will make your whole life peachy. I know a lot of self employed people and when you look at what effectively their hourly rate of pay is it is on average much lower than someone who is employed. Likewise their level of stress is much higher - you work as a project manager for a company and a project goes wrong you still get paid but may not get your full bonus. Your project goes wrong when you are self employed then you potentially dont get paid at all, have to pay out damages and the business folds which may risk your personal assests too.

 

Okay, so he listed why I want to be self-employed. Unfortunately I don't make enough at this very moment to pay my bills. Also, if you are making enough to sustain a living on self-employment, you will be paying additional taxes each year... it is only beneficial if you are spending a lot more than you are making like most online businesses.

 

Certainly in the UK the tax situation is still benefitical if you are a working from home type as you can offset some of your home costs against the business like rent or mortgage payments which you would have been paying otherwise anyway same as things like internet connection, phone lines etc.

A number of people are possibly slightly dishonest too and some transportation costs are claimed as business expenses etc