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I spent a big portion of my career doing this and it's often not as simple as thinking you can cut your hours in half and now you're free to do whatever for the
by nickjj 5y ago
I spent a big portion of my career doing this and it's often not as simple as thinking you can cut your hours in half and now you're free to do whatever for the rest of the time.
For example if you did 20 hours a week, that's 80 hours a month at $200 / hour ends up being $192,000 a year. That's a really competitive and great wage but you'll find it unlikely to be able to work only those hours you want without constraint.
You might want to work 10 hours on Monday and Tuesday and take every other day off, but how are you going to get new business? Maybe start writing hundreds of blog posts and making videos, maybe start a podcast and make some courses or write a book. Before you know it you're working 240 hours a week all-in and feeling guilty if you try to peel back the hours because there's no paid time off when you work for yourself unless you're in the top 1% where you're wildly successful and make huge amounts of money for multiple years to the point where you have enough fuck you money to work on anything you want on your own terms for the rest of your life and drop everyone who requests otherwise.
Plus beyond that, a lot of contracts will expect a drip of input and output, not a massive amount of work quickly and then do nothing for weeks. A ton of my 10 hour a week contracts were doing something small every day, or at least most days and generally being available to at least respond to an email within a reasonable amount of time (a day, but ideally within a few hours). This isn't true freedom. It's freedom in the sense that you can decide which contracts you take on but you won't last doing contract work if you make a habit of letting your clients down.
- nickjj 5y agoI think this goes without saying but I meant to say 240 hours a month not 240 hours a week haha. It's too late to edit the above post.
- pc86 5y agoI am aware of this, I consulted full-time for 4 or 5 years and it all but paid for my first house. I was merely responding to the very prevalent - and likely incorrect in most cases - sentiment that being "stuck at work" for 30-50% of your time is what's actually preventing you from getting stuff done.
- eurasiantiger 5y agoWe must be living in very different universes, because in my country full-time consulting pays off a house in maybe 20 years. Most people never get a second one.