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If you were offered a secure job with benefits, paid holidays, sick days, medical insurance,pension, personal days would you leave the contracting world ?
Assume the job being offered was interesting.



Does the stress and worry about getting a continous flow of work overwhelm you at times and make you wish you were doing something else?

Do you plan for your future retirement ? Can you see yourself doing what you are doing at age 60 or 65 ?
 

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I often think about the old days (9-5), easy work, paid vac., ins. and then I remember WHAT IT PAID! There is no going back!
 

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bellerose said:
If you were offered a secure job with benefits, paid holidays, sick days, medical insurance,pension, personal days would you leave the contracting world ?
Assume the job being offered was interesting.
I would never go back. I have had the good jobs you describe. I can live without medical insurance... for now.
bellerose said:
Does the stress and worry about getting a continous flow of work overwhelm you at times and make you wish you were doing something else?
Yes the stress is hard at times, wondering if we will be around next year at this time.
bellerose said:
Do you plan for your future retirement ?
I'm 26. I have mutual funds, a limited amount of stocks, and a Roth IRA, all managed by my accountant/investment broker. Hopefully it's just a start.
bellerose said:
Can you see yourself doing what you are doing at age 60 or 65 ?
I sure hope so.
 

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When I got myself flat busted. I found it hard to go back. My brother that is union. Is all like I have this and that that the union does for me. I say so I pay little over 400 a month for health insurance for my whole family and I can manage my own money.

Now that I got my house and avg equity shot up 20,000 dollars the month after I bought my house. :cheesygri
I think getting back on my own again is what I will be doing this year. I have one big remod job that just got held off for asbesto testing. I'll have to find some temp work to do. Plus I need to ravage some scrap piles for some archs I am about to put in my house.
 

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I'm trying to leave all that now and take my biz full-time. If done right the money made will far out weight any benifits that my current full-time employment could ever offer. As far as days off, who needs days when you can take weeks and even months off at a time. You get the business in the summer, you don't have to work as much in the winter. When you live in an area that avgs 60 to 70 inches of snow per year and the temp stays at or below 0 for weeks at a time, then this is a real nice option because you don't have to get out much. Even then you could plow in the winter and still don't have to leave the comfort of your truck.
 

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I'll never go back. I'm more capable of looking out for my future than someone else. employers have their own interest at heart and employees are just the tools used to get the job done. i'm not so unsure about myself that i need someone else to show me the way.

tax benefits, flex time, not being able to point the finger at someone else....i love my life.....
 

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I can do everything in my business that you listed above for myself doing what I am doing. Why would I do anything else?

Honestly the answer is YES, I would give this up if something better came along. I mean that is just human nature. The kicker is it's not likley anyone will pay me what I think I am worth. Also this is important if I were to go work for someone else I would sell my compamny to someone that would try to keep it going, perhaps an employee. I've put too much into it to just let it disolve.

Do I plan for my own future? Yes as a person of average intelligence I think everyone should plan for their own futures. Forget your corporate pension or 401k, or what ever retirement plan you have. Have you heard of Enron?You have to rely on yourself and the rest is gravy. Even if I were working for someone else I would still be socking away for MY retirement. I think pension plans and even employee benefits are an extension of the Democratic way of thinking "Give me!". Personally I do not believe in them, but it's hard to find good employees when you can't offer some benefit above and beyond a pay check.
 

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i have to admit that if the right opportunity were to fall in my lap, i could be tempted.

but i'm not looking :thumbsup: :thumbsup: :thumbsup:
 

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going back

I got into the industry through my own subcontracting and stayed for about 5 years.

Had a couple kids, got scared and hooked up with a local remodeler. Pretty much do everything that I did solo (sales/admin/site management/etc) though he's never missed giving me a paycheck for the last 5.5 years.

Very secure, I could work there for another 20 if I so choose.

There are two problems with my current situation:

1. He's putting out apx 65k a year to have me around. (that includes truck/taxes/health/401k) I think for my area this wage is close to the top so future increases look dismal.

2. I've never been perfectly comfortable with the product we put out and when I want to improve something or make a change, it's pretty much squashed.

It's eventually going to drive me nuts to put up with "Has the client seen it yet? We'll wait until they tell us to fix it before we do."

I've learned a lot of the business side in my time with him which I dearly needed.

I'm getting my plan together to go out on my own again.
 

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I’m with Greenpastures on this one, I've got all that stuff. I’ve got the “cushy” corporate job with a steady paycheck, health benefits, climate-controlled environment and an MBA to boot. And I’m ready to give it all up. I’ve worked at a desk for 9 years, but the corporate life has sucked the drive out of me—I no longer dream of the glass corner office with the high back leather chair. I’ve put in my resignation letter, though they asked me to stay till spring.

For me the decision was quality of life. I don’t expect that working for myself as a carpenter is going to be easy, but now I’ll be the one who puts priorities on my activities—no boss expecting me to work late when the kids are expecting me to be at the game.

No longer working for the man, it’s time to BE the Man!

And yes, the transition scares me too. Am I crazy????

P.s. To all the real contractors out there, don't worry, I'm not just another hack trying to make some quick money swinging a hammer. I've been planning on this move for years--taking classes, working with a local contractor, and using my own residence as the test site.
 

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woodcrafter.....you go boy! wish you luck. while i don't have an MBA, i did the corporate thing and i'm with you on that one. i live in a banking town and i think the bank employess go thru more stress than the self employeed because the hammer could drop at any minute. at that point, business isn't just slow, its non-existent!
 

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Would I give it up? ...(background music)....Did Christopher Columbus give it up and turn the boats around?....(more music).....Did George Washington give it up and have a cup of tea?...(music gets louder).....and how about Mary Thacher at the 1979 homecoming dance......(music cut)....oh....sorry bad example.

No....I wouldn't give it up.....I'm content in my misery.

Bob
 

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Woodcrafter74 said:
And yes, the transition scares me too. Am I crazy????
Don't think you will have any MORE time to spend with your family. Maybe it's just me but I have done things for my own company I was too proud to do for previous employers. I have worked insane hours that if a previous employer had asked me to work, he would probably be arrested for some kind of labor laws. I was married for about 3 months when I heard my waife say "I never see you anymore."

My advice is simple. Make sure to have two bank accounts and dont mix them. One for family and one for business. Now sock away enough money for the family to survive at least 3 months assuming you do not earn a penny for those 3 month. Starting a business is hard and you will need that 3 months savings as a cushion to get you through the rough spots. Remember the boss is the last one to be paid.
 

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Funny that I found this thread I was just going to post one similar to this one. My dilema is this:

Today i got offered a position as an engineering technician working for the city of san jose california. It is very tempting since it pays me steady paycheck of 5,000 dollars a month starting plus benefits and retirment paid holidays and all that good stuff. Like I said it is very tempting because apart from being secure work it also gets my foot in the door for future openings with the city, in other words it offers me advancment possibilities.

I am 25 years old and have been painting for 11 years now, i enjoy the work and it has been pretty much the only line of work i have done. I just recently went into buisness for myself (6 months now) and i must say work has been okay. I haven't been super busy but not super slow either, i can say work has been steady. I like the indipendence of working for myself and the freedom to create my own schedule. However what always bugs me is he worrying about having constant work. I know this is a dilema that we all contractors go through, i know the ultimately the decision is up to me but what do you seosoned contractors think? right now i am leaning towards taking the position, it is something new and in my opinion worth trying out, however i am not getting rid of my van or tools and i plan on keeping my license active just in case. What would you guys do in my shoes
 

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I am still transitioning. I chose remod's to tract humping. If everything goes right I will have another one when this one is done. The arch's are over booked and just now finishing a print about two months behind.

I have a GC calling me even trying to make deals or arrangements to get me to frame for them. I think maybe the the chance for negotiating is in my favor.

Give it up no never I can't work with other people that want artistic control. If I can't do it my way then nail and cut the fooker yourself.
 

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Grumpy said:
My advice is simple. Make sure to have two bank accounts and dont mix them. One for family and one for business. Now sock away enough money for the family to survive at least 3 months assuming you do not earn a penny for those 3 month. Starting a business is hard and you will need that 3 months savings as a cushion to get you through the rough spots. Remember the boss is the last one to be paid.
Grump, thanks for the good advice. I do have split business and personal accounts and plan on keeping it that way. I'm one of the lucky ones, in that my current company is going through a merge and is offering a severance package to any volunteers. So I'm walking out the door with six months cushion. As tempting as it is to vacation for those six months, I know you've got to make hay when the sun is shinging, as Pops always said.

Question though, in keeping your work/personal accounts separate, you have to pay yourself--move money from business to personal. Do you try to keep that paycheck amount the same every week/month? Or do you pay yourself more when the times are good and less when things are tight?
 

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When I left my last job to start this one, one of the GC we worked for who only does large multi family properties offered me a job. $60k a year salary plus 5% commission. Each sale is hundreds of thousands of dollars.

My response to him was, I've always wanted to do this and now is the time to try. If I don't try I might never and I will die kicking myself for never trying.

I don't know why I didn't post that earlier. It just came to me.
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In regards to paying yourself. I am an employee of the corporation that I own. Let me repeat. I am an employee. I get paid just like I would if I were working for someone else. I have paid myself a low salary based on guesstimated earnings. Next year I will keep that salary but I will also tack on a commission (10% of the net) for my sales. I use www.paychex.com as my payroll service for myself and all my employees. As the owner of the corporation I have the option to take "dividends". That is basically a fancy word for dipping into the company profits legally.

I actually have 3 personal bank accounts and 3 corporate bank accounts. One thing you will learn about running your own business is you have to account for every penny spent or moved. I have a part time book keeper come in about 6-9 hours a week and do almost all my accounting for me. Then I have another accountant that audits my books quarterly to make sure nothing is messed and files my taxes for me. One thing I have found is there are many ways to pay yourself and as long as you keep track of every penny you will be ok.

Oh last thing I will say about running your own business and I am 100% sure everyone in here who runs a business will agree. Get used to doing ALOT of paperwork.
 

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I have been in remodeling for 12 years
9 years self-employed , And i wouldn't give it up for anything
It,s a challenge every day but it keeps you on your toes.
also started custom cabinet company to add to the stress
time to start thinking about the future
Body won't take all the abuse it goes threw know in 20 years
the biggest thing i have learned threw the years is you have to love what you do if not (find something else)
And i dont care who you are no one will pay a skilled craftsman who knows what he is doing what he is worth.

have good day!!!
 
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