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> discourages entrepreneurship and gig work (which can be lucrative) Self-employed folks can make both employee and employer contributions to tax-advantaged re
by Kon-Peki 3y ago
> discourages entrepreneurship and gig work (which can be lucrative)
Self-employed folks can make both employee and employer contributions to tax-advantaged retirement accounts, and the aggregate yearly amount far exceeds what a W-2 employee can contribute on their own.
- gymbeaux 3y agoDepends on how much they make that doesn’t need to go back into the business, but sure. Most startups fail, most don’t turn a profit for several years. I would venture to say most people who skip the 9 to 5 for a few years to pursue their passion return with ~5 years of missed retirement contributions.