Self employment is not the ultimate goal to financial security
Self employment is for small investors with a couple of employees to support the business operations. These are A students who chose to go it alone. They like managing their own affairs and want to be in control of their jobs.
They are either former employees or students directly from school who started up their own small businesses or specialist consultancies. They include practicing doctors, accountants, architects or any other defined professionals.
This group values independence and want to be the best in their own expertise. However, while they have the independence their income which is often smaller than major businesses is split too much.
They pay themselves, pay employees and pay government taxes. This leaves little room to grow their revenue. In most cases these jobs are profession based and depend on few certified partners who have limited time for growth.
In the event that there is an economic shake up most small business and professionals are hardest hit because they lack the huge muscle to remain resilient to the market. For instance management consultants loose jobs to in house clients’ managers, consultant accountants lose jobs to in house client’s accountants.
If you agree with me this may not be the best option yet to invest your life time in, if your goal is total financial freedom. While you might have to pass by here on you way up to the best option it is good to always understand that you are working for three people; employees for salary, yourself for profits and the government for taxes.
Self employment is just a close step from fulltime employement