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If you're a 1099 Contractor, then you know the gig, and it's up to you to save/pay for things like medical. It's not a surprise - so if you're still worrying ab
by Alupis 3y ago
If you're a 1099 Contractor, then you know the gig, and it's up to you to save/pay for things like medical. It's not a surprise - so if you're still worrying about bankruptcy, you are definitely living outside your means.
There's no way around it. $187k is a lot of money - no matter where you live in the US.
- Retric 3y agoIt’s a fuck of a lot of money per year before tax, as long as you can keep working. Disability insurance can easily run more than 4% of your after tax income at that salary. Not such a big deal if your job’s secure, but many contractors making that salary however don’t have much job security and may expect long periods of unemployment when the oil sector does poorly etc. So perhaps you want to save 1/3 your after tax money for unemployment + 10% for retirement, and have disability, life, and health insurance… Don’t get me wrong it’s still a lot of money, but the more you try and hedge the less money it actually is so many people end up taking risks.