Self employed opinions

[Azone]

I'm on the fence about leaving my current job and going the self employed route. The conflict of work taking away from personal and family time has grown to be quite a burden. My job requires me to work 6 days a week 8.5 to 9 months out of the year logging anywhere from 55 to 75 hours a week. My work place has also taken on a toxic environment type feel that I know longer wish to be apart of, constant arguing among co workers and a lack of good leadership. I've passed several offers up over the years to go elsewhere, but because this place is 10 minutes from home and they pay is great I've remained here. But I've learned from working at this place that while having a healthy paycheck is nice sometimes the juice is just not worth the squeeze.
Right now we are only working 50 hour weeks (winter schedule) and I've taken on a few good sized side jobs and I love the freedom of working by myself and the flexibility that comes with it.

So, to those of you who have taken the plunge, do you find yourself having more time or less time for yourself? Do you end up being less stressed out or more stressed out? I know it's going to be a hell of an undertaking and a giant move and adjustment on my part, which I'm fully prepared for.

 

[mattferg84]

I was in the same boat as you 4 years ago and I wish I would of done things a little different. I would of worked on the side to make sure when I left my job that I could hit the ground running versus starting to build everything from the ground up after I quit. It is nice though to have the freedom to do whatever I want when I want but having a steady paycheck is pretty nice too even though you dont have as much freedom. When youre self employed its good when its good but when its bad its really bad. Good luck!

 

[Azone]

I was in the same boat as you 4 years ago and I wish I would of done things a little different. I would of worked on the side to make sure when I left my job that I could hit the ground running versus starting to build everything from the ground up after I quit. It is nice though to have the freedom to do whatever I want when I want but having a steady paycheck is pretty nice too even though you dont have as much freedom. When youre self employed its good when its good but when its bad its really bad. Good luck!

I'm steadily going to work into this, being married with children I have to look at what's best for the others in my family first. If I was single the impulsive side of me might do something silly like go throw my work keys on the GMs desk and not let the door hit me on the way out.
The steady paycheck is also a huge factor, it's a comfy feeling knowing a auto deposit will hit your checking account every Friday. Your comment of when its good it's good and when it's bad it's bad is what I have heard from everyone I know that does there own deal. Obviously financial discipline is even more important when your on your own.

 

[*zap*]

The lack of a regular, steady check coming in freaks some folks out. A good fall back on fund is very important.

 

[HuntHarder]

Does your wide work? Who takes care of Benefits in the house?

 

[Azone]

The lack of a regular, steady check coming in freaks some folks out. A good fall back on fund is very important.

I do have some money put away, cleaned up my questionable spending habits a few years back and have turned into a pretty big tight wad.

 

[Azone]

Does your wide work? Who takes care of Benefits in the house?

Wife works, currently home with our new baby son but will be returning to work after her maternity leave is over. Benefits are through me, but my wife should be able to get them through her employer. "Should be able to", is what is keeping me at my job right now. The day it's set in stone through her job will make my decision alot easier. Her relationship with her employer is in good standing, while losing a job can happen at any second I would put her at low risk of this.

 

[LostArra]

Some self employed people find it more difficult to schedule time off for themselves and family.
My self-employed dad was a prime example: "some day when I have time I'm going elk hunting". Well he got Parkinson's before some day arrived and never went elk hunting when he was healthy, then died too young (76).

I remembered his dilemma and while I am also self-employed I have no problem taking off for hunting or family activities, especially now that my kids are grown and married. But I took off plenty when they were young kids too.

 

[mxgsfmdpx]

Random question I know... Where are you at in California? My company is based in Livermore, CA and we are always hiring good people. Maximum 40 hours per week and you start with 3 weeks paid time off and full benefits. We are a positioning technology company (we make GPS systems for Agriculture and Construction Heavy Equipment). I've been here 15 years and get 6 weeks paid time off. If you aren't too far message me.

 

[Azone]

Some self employed people find it more difficult to schedule time off for themselves and family.
My self-employed dad was a prime example: "some day when I have time I'm going elk hunting". Well he got Parkinson's before some day arrived and never went elk hunting when he was healthy, then died too young (76).

I remembered his dilemma and while I am also self-employed I have no problem taking off for hunting or family activities, especially now that my kids are grown and married. But I took off plenty when they were young kids too.

I'm wanting to go this route to make more time for family and hunting down the road.
My father was a farmer his whole life, there was one family vacation ever as a kid for me because he always had to be on the ranch. I dont want my children to have to experience doing nothing, because it sucked alot.

 

[Azone]

Random question I know... Where are you at in California? My company is based in Livermore, CA and we are always hiring good people. Maximum 40 hours per week and you start with 3 weeks paid time off and full benefits. We are a positioning technology company (we make GPS systems for Agriculture and Construction Heavy Equipment). I've been here 15 years and get 6 weeks paid time off. If you aren't too far message me.

Pretty sweet deal right there. I'm in the south end of the Salinas Valley. I currently do in house welding and fabrication and a little research and development on equipment for a AG chemical company. I've been here seven years and barely got 3 paid weeks off, 6 weeks off and I wouldn't know what to do with myself.

 

[mxgsfmdpx]

Pretty sweet deal right there. I'm in the south end of the Salinas Valley. I currently do in house welding and fabrication and a little research and development on equipment for a AG chemical company. I've been here seven years and barely got 3 paid weeks off, 6 weeks off and I wouldn't know what to do with myself.

Ah I head down that way often with my wife for barrel races... I know that drive like the back of my hand and it's 2 hours down there without traffic.

 

[Azone]

Ah I head down that way often with my wife for barrel races... I know that drive like the back of my hand and it's 2 hours down there without traffic.

Fairgrounds in King City?

 

[Squamch]

In my line of work (construction), becoming self employed is not a way to get more free time.

 

[mxgsfmdpx]

Fairgrounds in King City?

Yep that's the one!

 

[mcseal2]

I ranch with my Dad now. He is currently 65 and I'm 40. Having both of us here is great because one of us can leave and not worry about the ranch while we are gone. We went on some vacations when I was a kid, but always during a slower time of year. At that time my Grandpa was working on the ranch full time too, so when Dad left he was home.

My advice is pick your times to be away for an extended time and take advantage of them. Then during "normal" work loads find some extra down time. During our busy times of year in the spring or fall we will work daylight until dark every day and get all we can done. Also 8 months out of the year we work at least half a day 7 days a week just getting chores and feeding done. We work full days most week days, and just do what's necessary most weekends. To get some more down time worked in we go into each day with an idea what we want to get done and if things go well and we get them done early we might quit for the day during slower times. It gives us an incentive to be efficient and productive while still getting everything done than needs done. There is always more work than there is time to do it, so at some point you just have to stop and take some time off.

My wife gets "flex time" at her work. When she stays late for meetings or other work functions she can take those hours off during slower times of the year. We do something kinda similar I guess. We might work crazy hours getting hay baled ahead of a rainy stretch, then take time off when we are less busy (or it's raining).

Dad leaves each year for the NFR rodeo and the NCBA convention, plus our state livestock convention now. He also takes a vacation each summer.

I go on one hunting trip each year where I'm gone for over a week. Some years my trip is to Colorado or Wyoming and if I tag out early I'm home quicker than that. Other years I go to Alaska and I'm gone 2 weeks or a shade over.

My wife usually plans something we go do for a few days at some point, and we will start family vacations as the kids get old enough to travel further. My wife works for a university and gets a lot more time away than I do, so her and the kids go visit her parents fairly often. The kids like to go with me on the weekends to feed cows or ride the horses also. Often we all go together if my wife is home. Once our youngest (1.5yrs old) is a little bigger we can start doing more family trips further from home. My 4yr old girl wants to go fishing and camping with me once cattle are on grass and we don't have to feed every morning.

It's all about balancing work and life, finding a balance that pays the bills and allows your family to be happy.

 

[Kilboars]

If you don't like your Boss and long hours now, wait till you start working for yourself

But you'll never find out what you're really worth unless you do.

I started working for myself at 23 and have loved every minute of it. Work long and hard hours but I'm financially independent now at 50+ with an incredible lifestyle with all the time and money I need to enjoy this life.


Burn the ship and go for it. Put on blinders and never look back.

 

[Jahvette20]

I just made the plunge in august. I worked for the same company for 12 years since right out of high school. The pay was lame but a company vehicle with person use, extreme flexibility, and 8 weeks of paid leave a year kept me around. Well the flexibility and vehicle were pulled under new management and I decided it was time to leave. My situation is different because during those 12 years I hustled my ass off and built up a rental real estate portfolio and have double the income from that than I had at my paycheck job. When I first was planning to leave I had plans of going all in on my own business doing what I was for my employer, but quickly found I’m content for now being comfortable and having the time to LIVE.
Two factors to take a serious look at: 1 Insurance, Mainly health but even business liability and workman’s comp if you hire employees. It’s all a kick in the balls. Especially the health for you and family. Your going to be over a grand a month depending on how many kids for a crappy hdp. It feels way worse than taxes (which is another) 2 self motivation. It’s easy to fall into the idea of “I’m my own boss, I’ll get to it when I get to it” or “I’ll sleep in today/go home early” etc. Especially when passionate about something like hunting. I hunted like it was my job this past fall/winter, only I wasn’t getting paid for it and what I was getting paid for was becoming neglected. You’ll need to find a balance. You also could easily get sucked into working 70 hrs a week to keep up with the demands of a new business and be dragging that stress to bed at night.
For me, I have no regrets. But if I didn’t have the rental income I dont know. Getting paid every 2 weeks as long as you show up and put in your time comes with peace of mind for most folks.

 

[Azone]

If you don't like your Boss and long hours now, wait till you start working for yourself

But you'll never find out what you're really worth unless you do.

I started working for myself at 23 and have loved every minute of it. Work long and hard hours but I'm financially independent now at 50+ with an incredible lifestyle with all the time and money I need to enjoy this life.


Burn the ship and go for it. Put on blinders and never look back.

Working for myself will definitely be interesting if that route is taken. The things that the voices in my head say sometimes.....

 

[Azone]

I ranch with my Dad now. He is currently 65 and I'm 40. Having both of us here is great because one of us can leave and not worry about the ranch while we are gone. We went on some vacations when I was a kid, but always during a slower time of year. At that time my Grandpa was working on the ranch full time too, so when Dad left he was home.

My advice is pick your times to be away for an extended time and take advantage of them. Then during "normal" work loads find some extra down time. During our busy times of year in the spring or fall we will work daylight until dark every day and get all we can done. Also 8 months out of the year we work at least half a day 7 days a week just getting chores and feeding done. We work full days most week days, and just do what's necessary most weekends. To get some more down time worked in we go into each day with an idea what we want to get done and if things go well and we get them done early we might quit for the day during slower times. It gives us an incentive to be efficient and productive while still getting everything done than needs done. There is always more work than there is time to do it, so at some point you just have to stop and take some time off.

My wife gets "flex time" at her work. When she stays late for meetings or other work functions she can take those hours off during slower times of the year. We do something kinda similar I guess. We might work crazy hours getting hay baled ahead of a rainy stretch, then take time off when we are less busy (or it's raining).

Dad leaves each year for the NFR rodeo and the NCBA convention, plus our state livestock convention now. He also takes a vacation each summer.

I go on one hunting trip each year where I'm gone for over a week. Some years my trip is to Colorado or Wyoming and if I tag out early I'm home quicker than that. Other years I go to Alaska and I'm gone 2 weeks or a shade over.

My wife usually plans something we go do for a few days at some point, and we will start family vacations as the kids get old enough to travel further. My wife works for a university and gets a lot more time away than I do, so her and the kids go visit her parents fairly often. The kids like to go with me on the weekends to feed cows or ride the horses also. Often we all go together if my wife is home. Once our youngest (1.5yrs old) is a little bigger we can start doing more family trips further from home. My 4yr old girl wants to go fishing and camping with me once cattle are on grass and we don't have to feed every morning.

It's all about balancing work and life, finding a balance that pays the bills and allows your family to be happy.

Sounds like you have a good thing going for ya.