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New step in my career
Posted: Fri Jan 18, 2008 5:58 pm
by R4R&R
Today marks a big change for my career. I've always worked for fairly large companies most of my working life and today was my last day. I quit a good company with a great benefits package after 10 years with them. I'm a little nervous, but I'm going to be 'self employed' starting next Tuesday. The money increase will be nice, but I'll have to be disciplined with taxes and all of the other crap that's associated with it.
I hope I made the right move and things work out as I expect them to. The first hard part is getting up to speed with insurance, and the second will be stretching my last paycheck to last a few weeks longer. Then the big checks start coming!
Wish me luck!
Posted: Fri Jan 18, 2008 6:24 pm
by Shaman
Best of luck.
You are more brave than I.
Posted: Fri Jan 18, 2008 6:59 pm
by boxermania
R4R&R
And what particular field will you be freelancing at? Best of luck.....
Posted: Fri Jan 18, 2008 7:49 pm
by towerworker
Best of luck to you John!!
Ditto on what Boxermania asked.
Inquiring minds want to know!
Posted: Fri Jan 18, 2008 11:15 pm
by DSKYZD
I admire your courage. You seem to have taken advantage of a good opportunity.
Hang in there and I'm sure you'll be sailing in smooth waters soon.
DSKYZD
Posted: Sat Jan 19, 2008 5:40 am
by RBrider
Best of luck to you John.
I've been self employeed for the last thirty years. It just becomes a way of life for those of us that like it. (And don't wantta punch a time clock).
You'll do good, I'm sure.
RB
Posted: Sat Jan 19, 2008 10:50 am
by 1MPH
Good Luck John.
Hope everything goes as you plan.
Give it hell!!!!
Posted: Sat Jan 19, 2008 7:32 pm
by iowabeakster
Good Luck
So, you must tell us what it is that makes big bucks??? Are you going to have employees?
You're gonna really love the self-employment tax. Hopefully, you're gonna make enough money you won't care. You might even have some sympathy for past employers. I know I did.
Congratulations!
Posted: Sun Jan 20, 2008 5:11 am
by Buckster
Good luck with the new adventure. I have been pondering on what else to do as well.
Posted: Sun Jan 20, 2008 8:38 am
by boxermania
Proctology has served me well as a second career, I seem to have an endless supply of patients, 90% of them are referrals.......
Posted: Sun Jan 20, 2008 8:38 pm
by wncbmw
Good luck on the free lancing (or should I say consulting?) John!
Besides more $$, will it mean more time for riding?
Posted: Sun Jan 20, 2008 9:33 pm
by R4R&R
boxermania wrote:R4R&R
And what particular field will you be freelancing at? Best of luck.....
I'm an IT guy and in the Washington D.C. area, it's gauranteed work. Too many federal agencies need computers so it's a pretty secure job market (as long as you are reliable and do a decent job). Holding a security clearance is a plus too. For the past year I've been working doe the State department under my employer, which I've been working for them for ten years this month. They were surprised I was giving that up, but they didn't make any great counter offers.
Basically I'll be an independent consultant working under a federal contractor supporting a sub-component of DHS. I've doubled my salary, but lost the benefits. In the end, I'll come out way ahead and be able to pay some bills off then add some more pairs of wheels in the garage! As for benefits, I'll go under my wife's plan so we'll still have coverage.
I doubt this will turn into a full blown company but you never know what will happen. For the time being, I took the greedy option and am trying this move. For a long time I've always played the conservative employee, watching everyone else do this stuff and make some bucks. Noiw it's my turn.
Unfortunately, being a federal contractor still has it's risks - contracts are always being re-competed. In the past 10 years with my last 'employer', I'd been through two successful re-competes and two unsuccessful ones. The contracts we lost were kind of seen coming but my company didn't do a lot to try and keep me. I had to work to find a job within the system. No great benefit lost there. I have enough contacts in the area, I shouldn't have an issue finding work.
Thanks for all the words of encouragement. By the time the bash rolls around things should be stable for me, so I'll buy a round of beers for the appreciation.
Posted: Mon Jan 21, 2008 5:28 am
by boxermania
John....you will not have problems with your new direction as can observe from your explantion, as my son is also in IT and I also had the opportunity to meet you in BBII.
I retired at 50 plus 1 month to consult in my field and haven't looked bad. Must confess that a lot more came to pass than I expected. The jobs are interesting and finite so complacency doesn't set in, on the other hand there are times you would want to be doing other things but you are commited. But all in all I wouldn't change it.......
Like you mentioned, subject matter expertise and work ethic will insure your success.....bravo!!!!!
