Anyone liking their contract job? It's my first time and I like it.

[Kaido]

This is sound advice. I'll start tucking away.

The big thing is just (1) tuck away part of it, and (2) stash it somewhere you can't easily get to it - an online account, a bond or CD, something that you can grab in 5 years if needed, some token from when you had days of a good income, if it ever comes down to that. I can give you this advice because I've been there and I wish I had done that 😀 Now I'm a working stiff & didn't really save anything from the pre-kids, pre-contracting good-money days & wish I had.

But having a regular job has some perks...dealing with the same people, mostly regular hours, some degree of job security, etc. I can't say I'll be doing this forever, but it fits the bill right now! Glad you're making it in the biz, it's pretty fun one you get all of your ducks in a row, get the income coming in, get clients, etc. Once you get established & make contacts, it's amazing how much work you can do, especially in larger businesses that really need people to just "work".

 

[child of wonder]

I feel I'm in the best of both worlds. I'm a "consultant" in the sense that I work with all kinds of clients, but I'm a full time, salaried employee of a value added reseller (VAR). There's the stability of being an employee yet the lack of corporate BS. While I don't make $200k, I'm close and I get to enjoy the diversity of working with different clients all the time plus get exposure to emerging technologies, get paid to attend training, and work from home quite often.

It's pretty awesome.

I'd STRONGLY echo the advice of others. Put some money aside not just for taxes, but for the future. Make your money make money for you and keep enough around for emergencies or extended periods of unemployment.

 

[Binarycow]

I bring home in a month what the OP brings home weekly and we already live fairly comfortable. I can't even fathom what it is like to make that much.
Nicely done, OP.

 

[IndyColtsFan]

I feel I'm in the best of both worlds. I'm a "consultant" in the sense that I work with all kinds of clients, but I'm a full time, salaried employee of a value added reseller (VAR). There's the stability of being an employee yet the lack of corporate BS. While I don't make $200k, I'm close and I get to enjoy the diversity of working with different clients all the time plus get exposure to emerging technologies, get paid to attend training, and work from home quite often.

It's pretty awesome.

I'd STRONGLY echo the advice of others. Put some money aside not just for taxes, but for the future. Make your money make money for you and keep enough around for emergencies or extended periods of unemployment.

Good advice. I now get to work from home full-time and that saves me thousands of dollars per year alone in gas, mileage, time, and lunches.

It is a nice break from the corporate world and I could work this job until retirement and probably be satisfied. Let's hope they keep bringing in the clients to make that happen. 🙂 I was a corporate employee the previous 17 years of my career and the corporate BS just sucks your life away. I just want to go to work, do the job I was hired to do, and go home to my family. I don't need silly distractions and extracurricular activities which do nothing but make me fall farther behind and get mad.

I bring home in a month what the OP brings home weekly and we already live fairly comfortable. I can't even fathom what it is like to make that much.
Nicely done, OP.

Not sure what line of work you're in, but you might consider it one day if the opportunity presents itself. In my case, I'm in my early 40s and married to someone who works for the state and has great benefits. I'd never taken a risk before in my career and I thought this was the time to take a chance since the risk was mitigated to a large extent by my wife's benefits and employment. I probably wouldn't have taken the chance if not for that, even though my employer does offer benefits and I didn't think they were ridiculously expensive especially given the huge raise I got.

The bottom line is, do what makes you happy. Money isn't everything and wasn't the reason I left the corporate world -- it was the lack of respect given my contributions and no upward mobility due to incompetent management. If not for that, I could've suffered through some of the other corporate BS and just coasted there until retirement.

 

[JEDI]

I wouldn't "feel nice" working 12x7. I have better things to do with my time.

ehh.. things you do when your new 6figure salary doesnt start with a 1 or 2.

but your right.. its not for everyone week after week especially if you have kids.

 

[IndyColtsFan]

ehh.. things you do when your new 6figure salary doesnt start with a 1 or 2.

If that's supposed to impress me, it isn't working. Have fun throwing your life away in the pursuit of the almighty dollar (if what you say is even true, which I am not sure about). My dad and grandfathers died fairly young so I need to make the most of my time.

 

[Carson Dyle]

If you work from home, it gets old unless you have a reason to be home, like taking care of children. You can talk to the walls, but they don't talk back very often. I know a few people for whom virtually _all_ of their human interaction comes on line, through email, text and forums such as this one, and they're all pretty seriously fucked up.

 

[IndyColtsFan]

If you work from home, it gets old unless you have a reason to be home, like taking care of children. You can talk to the walls, but they don't talk back very often. I know a few people for whom virtually _all_ of their human interaction comes on line, through email, text and forums such as this one, and they're all pretty seriously fucked up.

I've worked full time from home for over 7 months now and you're right, it does get old. I miss my work friends and having lunch with them. Many times, my wife will come home after working all day and I'll want to go out and do something just to get out of my house.

 

[Carson Dyle]

I've worked full time from home for over 7 months now and you're right, it does get old. I miss my work friends and having lunch with them. Many times, my wife will come home after working all day and I'll want to go out and do something just to get out of my house.

It takes some serious discipline to keep from going nuts. Go to the gym in the morning, lunch at noon, for a walk in the afternoon. Something. Anything. It's something I've never been good at. If I get tied up in a project or even just solving a problem, I can sit in front of a computer for 12 hours without even getting up.

 

[mmntech]

I would never do contract work simply because it's so unstable, especially in my industry. I'd go freelance at that point or start my own business. You may think the money is great until you realize you get no benefits or raises. Which is why so many companies are hiring temp workers over permanent full and part time.

Not to mention it may make getting a loan difficult. My cousin's husband is an audio engineer on mostly contract work. He does steady jobs but the bank wouldn't give him a mortgage anyway. Said it was due to the instability of his work. So their house is under my cousin's name.

 

[JEDI]

I've worked full time from home for over 7 months now and you're right, it does get old. I miss my work friends and having lunch with them. Many times, my wife will come home after working all day and I'll want to go out and do something just to get out of my house.

lol.. seems like work from home and being at the office 12x7 isn't much diff

 

[Zeze]

I've worked full time from home for over 7 months now and you're right, it does get old. I miss my work friends and having lunch with them. Many times, my wife will come home after working all day and I'll want to go out and do something just to get out of my house.

Oh wow, work from home full time 7 months? That's not ideal for networking and building up relationships.

In a perfect world, getting to work from home 1-2 days out of a week would be amazingly perfect.

 

[GoodEnough]

Go 1099. You can write off like $50k in deductions each year.
Your net will be the same as making like $275k
Contract is a TOTAL no brainer.
People are too stupid to do math and see you're making TWICE a FT captive.

No health benes?
HMO? 4 days of billing.
People are so stupid, it's not funny.

Bank this. I retired early from my contract gig for 3 years.

 

[GoodEnough]

Unstable? Tell that to all the laid off FT'ers. LOL. I had a contact gig where I worked 3 years straight. Took 3 days off in 3 years. Then I quit and retired early. Made triple I'd make as FT. TRIPLE.

 

[iamwiz82]

I wouldn't "feel nice" working 12x7. I have better things to do with my time.

Jedi's sole goal in life is to end with the most money. Seriously, check out all of the threads he has created. I'm convinced he would (and probably does) split the 2- and 3-ply toilet paper to save money.

I wouldn't do 12x7 for $300,000. Work it out and it's only $68/hr.

 

[JEDI]

Jedi's sole goal in life is to end with the most money. Seriously, check out all of the threads he has created. I'm convinced he would (and probably does) split the 2- and 3-ply toilet paper to save money.

I wouldn't do 12x7 for $300,000. Work it out and it's only $68/hr.

you're back?!

how's Lola?

 

[IndyColtsFan]

lol.. seems like work from home and being at the office 12x7 isn't much diff

Except for the fact that I only work 40 hours per week and don't have to drive anywhere. 😀

Oh wow, work from home full time 7 months? That's not ideal for networking and building up relationships.

In a perfect world, getting to work from home 1-2 days out of a week would be amazingly perfect.

Recruiters are contacting me several times per week, so I think I'll have plenty of opportunities down the road. I'm not one that believes in the concept of a "career" except for in rare cases like scientists or doctors -- in other words, those who are really making a difference for civilization as a whole. I'm under no illusion -- my "career" is just a job that allows me to support myself and family and if I experienced a financial windfall of some sort, I wouldn't hesitate quitting and doing something more meaningful and fulfilling. Right now, I'm 43 (44 later this year) and only interested in travel and making it to retirement. I'd be content with working the six figure consulting job for a few years and then dropping back into a five figure corporate or government job and coasting to retirement that way.

Jedi's sole goal in life is to end with the most money. Seriously, check out all of the threads he has created. I'm convinced he would (and probably does) split the 2- and 3-ply toilet paper to save money.

I wouldn't do 12x7 for $300,000. Work it out and it's only $68/hr.

It's a sad life. If I would've been interested solely in money, I would've chosen a different path.

Of course, I know someone else who claims she puts in 12 hours days regularly too but upon examination, you see she is full of it. For his sake, I hope that's the case or at least, I hope he is younger and has his own business and can semi-retire at a fairly young age and enjoy life. (I also hope he is better at his job than his posts on AT 😉 ).

 

[jaedaliu]

enjoy the $ while u can! but don't burn out!

burn out = additional member of the family called her lawyer

a little snipping to share a story of caution.

Have a friend that frequently flies around the world (mostly Asia, dubai, SE asia, Tokyo, etc) for work. (FT employee, but that's not why I'm sharing.) He had a trip end early, so he decided to surprise the wife.

He got home a day early and HE was the one surprised. I don't believe it was his fault at all, but make sure you take care of your brand new bride. My buddy may have ended up getting his marriage annulled because it happened so soon after the wedding.

 

[Carson Dyle]

lol.. seems like work from home and being at the office 12x7 isn't much diff

Actually, they're very different.

Working at home is more like being at the office 24x7.

 

[Scarpozzi]

Just make sure you withhold enough. Calculate what you make and your withholdings...then throw it in a spreadsheet and see where you land.


http://www.bankrate.com/finance/taxes/tax-brackets.aspx

 

[BikeJunkie]

Put in a bit of effort, you come out far ahead as self-employed (even taking increased tax into account).

I should get into that.

This is what I do and I love it. 1099 / contract W2 is the wave of the future for upper echelon IT people. Getting paid for the hours you work ... who woulda thought?!

 

[IndyColtsFan]

This is what I do and I love it. 1099 / contract W2 is the wave of the future for upper echelon IT people. Getting paid for the hours you work ... who woulda thought?!

:thumbsup:

No more working 60 hours per week without OT for me.

 

[Insomniator]

I just took a temp job after being full time for the last 4 years at my first job out of college. I'm still pretty low level (server admin/support) so no 5k a week for me!

But anyway I'm making 15k more + money saved on gas (6 mile commute vs 110 before)... but after ~2 weeks unpaid vacation/sick + health/dental benefits (looks like 400 a month) and lack of a 401k contribution I'll probably end up breaking even.

Guess I shoulda asked for more $$$, though what they are giving me now is already $15 more/hour than the posted pay.

Question: Lets say I work this job for a year or so and then need a new position. Do I have more leverage with the temp agency now that they know I am a 'worthy' employee. Or do they just expect to pay me whatever the offer is for the next job?