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> I value job security, and therefore a financially secure life, over any of the benefits this consultant has. As someone who has done contract work for most
by nickjj 5y ago
> I value job security, and therefore a financially secure life, over any of the benefits this consultant has.
As someone who has done contract work for most of my working life I think it's kind of the opposite.
When doing contract work you have the option of having multiple part time jobs. Not everything is based on full time yearly commitments.
You might choose to do 15 hours a week for 2 different gigs, or maybe 4x 10 hour ones. Or maybe you have a few where you do 2 hours a week (code review type of stuff) but you have 3 of them.
Any of the above combos could be range from 1 off things to sticking around indefinitely. I've had so many multi-year contracts, those I like because it's quite stable and lets you maximize your hours on doing work instead of finding new clients, reading new contracts, etc..
You're diversifying your income streams. If one goes away you're not left scrambling to find another one as soon as possible and you can continue paying bills with your income instead of dipping into your savings.
- tonyedgecombe 5y agoYou probably should have savings as well, if someone isn't good with their finances then it probably isn't an ideal career for them. Customers can smell the desperation for work a mile off.
- nickjj 5y ago> You probably should have savings as well Absolutely. Personally I try to keep any savings and investments as a 1 way street. I treat it as an untouchable deposit-only fund unless something really bad happens or I make an explicit decision to do something big with it (like retire or temporarily go off the grid for a few years). To me security is being able to live without taking out those funds during my working years but knowing they exist if I really need them.