5 Signs That You Need to Become Self-Employed

Assertions that the self-employed swim in financial freedom and peace of mind are actually not far-fetched. Ask any of those running online essay writers’ agencies. It’s as good as it sounds.

The truth of the matter is that working as an employee can confine one to a comfort zone until that moment when financial difficulties begin to bite hard. It doesn’t matter how much you earn every month or yearly. Self-employment is that personal economic edifice everyone actually needs to survive when things fall apart. It’s a landing pad when retrenchment at the workplace axes you off from a company where you have labored for years.

Surprisingly, a good number of people don’t think about these unfortunate eventualities until that time when it’s too late to make a quick fix. There are enough statistics out there about those who have slumped into depression after losing a job simply because they didn’t have a fallback plan.

Related Resources:

• The Serial Side Hustler: How to Successfully Execute Multiple Gigs
• 5 Keys to Turning Your Side Hustle into a Successful Business

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Ostensibly, job losses are often a huge blow to those who never venture into side-hustles or put part of their income into business, let alone poor savers who will have nowhere to dip their hands and start something income-generating.

Things That Should Push You into Self-Employment

This article explores some indicators that should compel most anyone into becoming self-employed. Take a look further, and don’t forget that income-generating activities like writing jobs from home are good starting points for perpetual income.

1. Your income is beginning to look inadequate

People need to keep improving in their employment business and needs. As you grow, your needs and that of your family also expand. This means your income may not be able to keep pace with all that’s at hand. It’s always a time to try self-employment.

2. Dust is beginning to settle on your heydays at work

Before you know it, retirement is beckoning. Saving for a life outside employment is important, but it pays if such a cause is directed toward starting a business once your heydays of employment comes to an end.

3. Your salary can’t take care of secondary needs

The primary aim of any employed person is to have a decent house, dress well, and feed appropriately. However, owning a car and occasionally going out on holidays equally points to a life of adequacy whereby there is extra money to spare. If your salary can’t take care of all these, it’s time to venture into self-employment.

4. Lenders are circling

A pay slip with a deficit, which means there’s nothing to take home, is the worst nightmare overborrowing or overspending can bring upon anyone. Self-employment should never be far from thought when lenders can’t let you rest. It will help to take care of most of your liabilities.

5. No Freedom or Autonomy

A job becomes meaningless when, at the end of the day, it chokes your desire to invest and even go on holidays. If you’re an employee with not enough free days and other incentives, it’s always wise to quit and work your way into self-employment.

In summary, job losses can sometimes be unpredictable, and a safe exit is only possible through self-employment. You shouldn’t risk living the rest of an employed life as a wretched person. Self-employment starts when you still have the energy to do something meaningful.

Disclaimer: The content on this page is for informational purposes only, and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.