I was self employed from 2009 to 2018. I was an embedded programmer / debugger and I had two major sources of income debugging engineering development boards for two boutique companies. I got the first gig from a friend who worked at one, the second by spamming the embedded world conference, and a handful more through linkedin. I couldn’t really travel because I needed a lab with test equipment. But I did double my previous salary north of 200k and I worked as much or as little as needed. It ended up being an average 40hr work week overall. The one thing I missed out on was equity. A decade without bonuses, RSUs, or options really set me back compared to my peers. Plus I hated having to stress about finding new contracts or if I was going to get cut loose. Finally I quit and went back to a big employer and I’m much happier to not have that financial stress and to have equity again.
>Finally I ... went back to a big employer and I’m much happier
I have a similar timeline: dropped out in 2009 and started a few blue collar shops (mostly electrician-related). By 2019 I realized (with substantial help from clients / friends) I didn't want to be "on call" 24/7, as bossman, so over the next two years I fired all but my two best clients.
Reflecting on my worklife, I am grateful for so many of my clients/experiences; but it sure would have been a whole lot "easier" had I just worked W2 for somebody else [as were my IBEW apprenticeship days].
I had a family emergency 2022Q1 and then lost my housing 2023Q1 (to a landslide), so I've been promising myself "get employed 2024Q1;" and now with all these layoffs, I've just accepted that this will be my second year I don't have to file income taxes (legally, no income).
The one great thing about being self-employed is it does allow higher wages, flexibility, etc.; in my case, I have enough savings to last decades. If I had a family I would definitely prefer the stability and work/life balance of being a W2 employee [verse running a company, managing clients, installing, etc].
After the first year, unencumbered, it gets kind of boring (probably because I don't have enough savings to do everything/travel, just to eat/shelter).
