Poll: Have you put off important financial decisions because of the uncertainty of being a freelancer? Autor de la hebra: ProZ.com Staff
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This forum topic is for the discussion of the poll question "Have you put off important financial decisions because of the uncertainty of being a freelancer?".
This poll was originally submitted by Alan Corbo, CT. View the poll results »
| | | | Michael Harris 
Alemania
Local time: 09:25
Miembro 2006
alemán al inglés
Nope, and as long as the sum is not too high, it should always work out as the world keeps turning.
Just before I became unemployed from my last "normal job" ( quite a while ago), I knew about it, but we bought our property anyway. In worst case, you sell it at a little loss and learn from it, but "touch wood", I have never regretted doing anything like that - no risk no fun
[Edited at 2016-09-12 14:10 GMT]
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I didn’t start freelancing for economic reasons, but by choice: I have a financial cushion (pension and health-care benefits after 20 years in-house).
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I feel as if my money is being pulled in multiple directions. I have often postponed financial commitments until I was sure they wouldn't burden me with a debt. This becomes more important as I get older.
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neilmac
España
Local time: 09:25
español al inglés
+ ...
I'm not really sure what the question means by "important financial decisions". I recently had to pay €700 unexpectedly for vehicle repairs, followed in quick succession by traffic fines amounting to €450. However, paying these did not really involve any decisión on my part - it was a case of like it or lump it. So, I am now officially skint and if I'm lucky will be able to scrape enough together to pay my VAT at the end of the quarter.
| | | | | What uncertainty? | Sep 12, 2016 |
No, never. Beyond the first few months, there should be a fair degree of stability in your earnings, or else you are doing something very wrong.
For us, freelancing brought forward getting a mortgage, because we could then earn way more than we did in-house.
| | | | Maria Simmen
Alemania
Local time: 09:25
inglés al alemán
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| My thoughts exactly! | Sep 12, 2016 |
Chris S wrote:
No, never. Beyond the first few months, there should be a fair degree of stability in your earnings, or else you are doing something very wrong.
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but I probably don't have so great spending dreams
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Mario Chavez (X)
Local time: 03:25
inglés al español
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| Living in the moment? | Sep 12, 2016 |
I'm not a freelancer. I am a sole proprietor of my LLC (limited liability company) and I do the translations. I live off the income I earn after deducting my business expenses from my revenue.
Most “freelancers” fall in two categories: a) independent contractors who incorporate, and b) independent contractors who don't. Here in the USA, the tax advantages may be negligible or significant, depending on where you live. I don't know whether incorporation is a choice for translators... See more I'm not a freelancer. I am a sole proprietor of my LLC (limited liability company) and I do the translations. I live off the income I earn after deducting my business expenses from my revenue.
Most “freelancers” fall in two categories: a) independent contractors who incorporate, and b) independent contractors who don't. Here in the USA, the tax advantages may be negligible or significant, depending on where you live. I don't know whether incorporation is a choice for translators in other countries.
Regardless, carrying the burden of calculating your own paycheck, as it were, is no frivolous matter. To some of us, the uncertainty is tolerable enough to move ahead with getting a mortgage, enrolling in college to get another degree or taking a sabbatical. To others, the ups and downs are too much. Add to that health problems, a family to support, extended family obligations, a divorce that saddled you with unexpected debt…or a traffic fine.
Speaking of mortgage, not everyone in the world has access to 3.50% interest mortgages. What is a silly financial obligation for me (my $18 quarterly sewage bill) may be a large amount for someone else.
And for people like Chris S., remember that your certainty can disappear overnight due to unforeseen circumstances. ▲ Collapse
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Mario Chavez wrote:
And for people like Chris S., remember that your certainty can disappear overnight due to unforeseen circumstances.
Of course. But my point is that it's no more likely to happen just because I'm working freelance. I'm no more likely to lose my biggest client now than I was to be made redundant in my old job.
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I've postponed buying that million dollar country house I've had my eye on, until I have a more reliable income  .
| | | | | If I have a pension after 20 years of work... | Sep 12, 2016 |
I will spent my time travelling.
Since I have to work (after 31 years of in-house and 36 more to achieve a pension) I always think on budget.
If I have to decline a work (just did last week) where I would spent 4 hours to do a bad sound transcription and I only received 5 euros...I do it.
My money is needed, not for pleasure, but for feeding my family...thanks to all those portuguese who have pensions with 20 years of work.
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Mario Freitas
Brasil
Local time: 04:25
Miembro 2014
inglés al portugués
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| For a while... | Sep 13, 2016 |
When I quit my last in-house job and decided to become a full-time translator, I went through a tough period, and I had to waive several "extras", until I was able to develop a decent portfolio. For almost 4 years now, I haven't had to do that anymore.
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