Self employed or Cards in?

[HumbleWorker 91RT]

Alright guys and girls,

Just wondered your opinions and thoughts on the pros and cons, cost and enjoyment/headaches of doing the job from both points of view?

Regards,
HW

 

[Octopus]

Given you have trainee status, are you sure you are ready to go SE?

Its really tough at first and you need to be prepared to "give up" many hours of unpaid time each week doing paperwork, visiting clients, doing quotes, certs, invoices, and if you are LTD and / or VAT reg reports to HMRC every 3 months...

 

[HumbleWorker 91RT]

Only asking for a heads up further down the line so I can plan as best I can not trying to run before I can crawl haha

 

[PEG]

You will have to give us a clue,as to what job?

The old bloke opposite me,is SE. He is a window cleaner and i've never seen him smile....

On the other hand,the prime minister is PAYE,and she's doing fine...

All that glitters...

 

[David M]

If you want a simple life, no headaches and regular steady income then "cards in" is always the best way to go.

Being self- employed comes with massive responsibility. Yes you can potentially earn more money. But unless you are extremely lucky or in a niche market, it will take time to build a successful business and you are likely to sacrifice a lot of time (and often happiness) along the way.

Easiest thing to do is write a list of the pro's and cons of either route and see which fits you best.

 

[The Ghost]

Unless there was some major job offer with a house, car and 50 weeks holiday a year I would not consider doing a job. For me the complete freedom of SE is perfect. I do not earn a lot but then I do not need to. And of course that is the rub. If you are or get married and have kids, buy a house you will have to have a job. The luxury of choice will not be there unless you are well organised and unusually lucky.
Having done all the above (Marriage etc.) and been self employed for the past forty or more years, (No I am not going to start singing "I did it myyyyyyy wayyyyy" Although I did!) looking back I can only say I have been most fortunate. From Scotland to London to Bristol I have always found work. Enough to keep me afloat anyway, not made a fortune but then I have never wanted to

 

[ferg]

If you have kids and a mortgage then Employed would be my advice.
Employed means you get paid regularly no matter what.

Building up a business takes time, income can be patchy and getting holidays and time off to spend with the kids can be difficult.

Self employed takes a certain kind of ruthlessness about money and your time.
If SE you need to be sparky, salesman, admin assistant, book keeper and debt collector rolled into one.

I have found being SE the better of the two but my kids have grown up and left home now so my time not being my own is not so much of an issue.

 

[PEG]

I have worked for myself almost continuously,from 10 years of age

To find a cards-in job,which gives all the benefits,of a successful SE route,would be hard. Possible,but hard.

The problem is,everyone will tell you what trade skills,permissions,certificates and fees are required....they never mention about the bag of luck,psychology training,confrontation management,poker-face patience,and ability to fight...

One of me best pals,who i did a stint with in Israel,years back,has just got a nice slot in Spain,with an international Co. He always says "I can get you in..."

That's a cards-in 65-85 grand a year,depending on terms/duration....but make no mistake,you are owned by the company.

I have two lads,9 and 15,schools finished now,and this morgen,i flirted all duties,and took them to the War museum...had a cake...listening to them "debate",right now...

Money is handy,it eases life and opens doors,but there are many things you cannot go back and buy. It is these things,which should determine a person's life choices,regarding job type

 

[KennyKen]

Earning Bulk Cash doesn't always make you happy. I work away from family for 4 weeks. I earn really well... but sometimes it's not worth it. I'm away for my daughters 10th Bday. It's times like that you never get back.

 

[HumbleWorker 91RT]

Okay cheers pretty much what I thought myself in all honesty, SE is for when life allows truth be told at the moment it doesn't so cards in is the better option cheers boys for the advice and pointers appreciate it.

Regards,
HW

 

[PEG]

I have another good pal,who is over in western Oz,he has his own set up now,doing VERY well.
He went initially as an employee,and i got a bit of pressure,to join him.

He now has a nice life out there,his two daughters employed by himself,which is possibly a choice i would have to have made.

He sent pics of the light plane he purchased,last year ...but i have no regrets.