The Highs and Lows of Self-Employment
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- เผยแพร่เมื่อ 13 พ.ค. 2024
- For some people, freelancing is synonymous with freedom, but there is a lot of instability that comes with the gig economy. On this episode of Good Money, we get you started on the path to self-employment, covering some of the advantages and pitfalls you'll face along the way.
Today’s modern leaders face a different set of financial challenges than their predecessors did, but also far more opportunities. And the conventional wisdom of past generations is just that- conventional. Good Money is dedicated to demystifying personal finance for the modern leader, helping them prepare for a better future. Learning how to navigate your financial future shouldn't be this fun. Good Money covers vital topics such as taxes, gold, day trading, money tips, saving, renting vs. buying and much more. Learn all things personal finance by checking out the rest of the series: • Good Money
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There is no employer that is going to treat you better or pay you better than yourself.
The gig economy is a sham. It's just corporations who pay way less than what a job is worth while calling their employees contractors so they don't have to pay overhead. All in hopes of one day entering into an IPO. It's one thing to start a small business that has the potential to scale, another to get duped into owning a business that pays just over minimum wage.
Facts.....seeing this with my own eyes...
Lol, the 'gig economy' is the biggest con job of the platform-as-a-service dot coms ever. It's basically slave labor for less than minimum wage with no benefits.
What is wrong with you people? What is "less than minimum wage"? I've been freelancing for 8 years and I make $50/hour.
A lot of my friends do too. It's not our fault you habe no marketable skills in the new economy.
@@StavroginNikolai Are you insecure? Dumb? Or both? I'm talking about Uber, Amazon delivery, Fivver etc... I literally said there is nothing wrong with starting a business for yourself esp if you can scale it. 🤦♂️
@@randomcharacter6501 You started your comment with "the gig economy is a sham". It's not a sham, it's just more ruthless and certainly not the best choice for everyone as a primary source for income. But what is?
The only reason cab drivers were better off before was lobbying and protectionism which reduced competition and made their services unreasonably expensive. Uber fixed that and the consumer is better off. And being an Uber driver wasn't supposed to be a full-time job to start with, it's just something you can do after work, or during your commute even.
If being a full time Uber driver is the most productive use of your time, then we're back to the original point - you have no marketable skills, and you need to learn some if you want to progress, instead of demanding that your menial chores count as a career and pull in benefits.
Great job. TH-cam needs more informal and educational material not designed for kids. Keep it up 👍
"Gig economy" and "side hustle" are merely euphemisms for economic insecurity.
FirstName LastName it’s euphemism for extended 2008 economic crisis depression...lifestyle insecurity and letting those who caused it off the hook as they continue to profit and those who paid taxes to bail them out, can’t see the light at the end of the tunnel. Gig economics ,It’s just an excuse to say things are getting better.
Lmao... it ends with the host stating, "I'm gonna go back and beg for my cushy staff job"
Happy for the new series, keep the episodes coming 🙏
Do whatever you want . Your company will fire you anyday
Firec me and I'll just get unemployment
Wrong captions. Probably the freelancer’s fault! 😂😂
The GIg economy is a scam. I would not recommend being Uber driver to anyone. Uber just takes advantage of you and the money sucks!
This is cool
Can this video be made longer and expanded? It’s great info but so short
Freelancers need to save for their own retirement and manage their taxes.
Or just not pay any taxes and put that money toward retirement. Two birds, one stone.
StavroginNikolai
When you freelance you get a 1099 from the company that paid you to do a job
They reported the expense
If you think you won’t get caught you’re screwed
Freelancer Checklist: 3:26
Manage tax burden
Pay for your own health insurance + benefits
Save for retirement
🔥🔥🔥🔥🔥🔥
There are no reasons to be loyal to a company as they hire for that job only when it’s done you are too... no more twenty years and retire...I smell. Real Troubles thirty years from now...everyone will be homeless,unemployed,starving in their lives...being old just got better tho...
What shoes does he wear?
They are Penguin Chukka Boots... not sure if they still sell them, but I love em!
Quartz, the captions for this video has been replaced with those used in "No, renting isn't throwing away your money"
I don't think our friends at Quartz would be able to fix them. But thanks for alerting us, they've been updated to the correct version!
How about some savings for emergencies and to get you through slack times because income will likely be up and down at first. What is your business plan?
I graduated Schulich with a BBA; couldn't get an interview. I finished the CFA exams; still couldn't get an interview. So I've been forced to freelance for the passed eight years. Self-employment is rarely a choice in North America.
2:16 "you are a business owner" - bullshit. You are a "craftsman". If you stop working or go to vacation - your income stops.
Business means an adjusted system that can work without you.
That can only happen if your business is successful.. But when you just get started, then you gon' work more hours than a typical employee hours work.
This dude is cool, but the stache is cooler
Gus Jonson should have been in this video
Why does this guy sound like if Gus Johnson was a corporate boy
I’m a cardiac surgeon, and I only make 350,000 USD a year at the age of 30. A friend of mine from Holland works as a high end escort, and makes 600,000 euros a year, at the age of 25. Do you have any idea how stupid I felt after I saw her bank account balance? And don’t get me started on the gifts she gets, and the places she travels to, she doesn’t even shop anymore. Go to medical school they said, you’ll save lives and make money they said. I guess everyone forgot to tell me that a hospital will control what I wear, and how much time I spend day in and day out.
& 10, 20 years from now??
Conscience/ethics/morality don't count?
Everyone will eventually pay for what they're doing one day!
Give my money and my tuition back I spent in...!!!:)))) I will check everything before running my business.... Because I am not a Genius!!!:)))
better staying old school. Nah to Gig economy. :3
LMAO the captians are hilarious!
Smh
The end of the profession.
I pity these people. No decent education, no valuable skills, many poor choices.
Source: Early Millennial with six-figure income who was never anything but full-time employed by large corporations.
Nope. Just another blowhard spouting his own self-importance.
@ABC ABC By that logic, you're an even smaller fish to even more people. But it's sad you are so focused on what people think.
@ABC ABC Your previous comment implied that you make considerably less.
Ok, so I'm trash because I am successful and pity people in the unstable, exploitative gig economy. Cool.
TheUrbanEpicure
Freelancing is awesome
That’s what this video is mostly about
Not Uber
Or door dash
I prefer making 80k on my own from anywhere than 100k as a sock puppet for a company 8 hours per day
Everyone’s different though
Also your comment about education is atrocious dude
Decent education?
What does that mean for you?