Sure, leaving sometimes-cushy full-time employment and the security of a regular paycheck can be intimidating. You have to figure out how to manage your finances in a new way and learn how to be your own boss — which can be more challenging than it seems. While self-employment has its challenges, it also has some killer benefits. For those determined, resourceful, and driven enough to give it a try, the benefits of self-employment often far outweigh any challenges. We’re going to take a look at the top five benefits of self-employment, in case you’re considering taking the leap.
One of the biggest draws for many self-employed people is the ability to control their own life. When you work for yourself, you get to make the important decisions and shape the way your business — and your life — runs. You are responsible for your destiny and how you want your life to look. You are not beholden to anyone else’s ideas about what success or happiness or hard work looks like.
While many people enjoy the jobs they hold for an employer, there are invariably parts of the job that people don’t like. Sometimes they get tasked with a project that doesn’t suit their passions. Maybe they have to team up with a coworker that doesn’t play well with others. One of the benefits of self-employment is that you have the freedom to focus on doing what you like. Yes, there will perhaps be administrative things that aren’t your favorite (like bookkeeping, ick). However, those that are truly passionate about what they do and the business they run tend to find more enjoyment, even in the little pesky things that must get done. More importantly, you get to build a business around your passion. You get to wake up every day more excited than not about what it is you get to do.
Working for other people often leaves you beholden to them in certain ways. Those who want to move up the ladder can only do so when their superiors approve it. Those that enjoy certain aspects of their job may only get to work on those aspects when someone else assigns them to it. Even working hours are often at the mercy of “someone in charge” who decides when and how you get to work. When you work for yourself, you get to prioritize your own fulfillment. You can chase your dreams and follow your heart. You can be as successful as you want to be when you put your mind to it.
When you’re self-employed, you get to choose when you work. While others are working from 9 to 5 or following set hours that are stipulated in a contract, you can decide when you’ll be most inspired and productive. Many people work for themselves for this benefit of self-employment alone. While it does require discipline and the ability to get work done without someone standing over your shoulder, it also opens up much more flexibility than traditional employment. You have the ability to take breaks and time off when you feel you need it, without having to ask for permission. Those that are disciplined enough to handle the freedom often find that their work-life balance is much better than what full-time employment offers.
While full-time work offers the stability of a regular paycheck, that paycheck may not always reflect the amount of work you put in or how much profit you helped your company achieve. One of the benefits of self-employment is that you’ll see the financial rewards of your hard work directly. It’s a nice offset to some of the risk that comes with starting your own business. You are responsible for your profits, and you’ll enjoy them fully when they come.
Decent wants to support self-employed individuals in pursuing their dreams. Our health plans are designed for freelancers and self-employed people who are looking for affordable, comprehensive health insurance plans. Getting coverage as a self-employed person no longer has to be a nightmare. We offer three unique plans that cater to the needs of people who work for themselves.
The Pathfinder Bronze Plan is perfect for self-employed individuals who want to be covered in case of emergencies. This plan is comparable to a catastrophic plan and a cost-effective way to ensure that you have coverage in case something bad happens.
Our Lonestar Bronze plan is a great option for people who expect to use their insurance from time to time. This plan offers a bit more coverage than the Pathfinder Bronze Plan and is still very affordable. This plan features a $0 medical deductible and immediate copays on services.
If you’re a freelancer who makes at least $55,000 per year, our Trailblazer silver plan might be perfect for you. It’s ideal for those who have families (or who may start a family soon), medical conditions, or prescriptions. One of the bonuses is that this plan offers manageable copays for most everything.
All of our plans include free primary care, so you never have to pay to see your primary care doctor. You can visit as often as you like and we offer virtual plans so you can connect with your provider via telemedicine. If you’re worried about getting covered outside of the open enrollment period, we have good news! You can enroll in our plans year-round.
Interested in learning more about our unique health plans for the self-employed? Get your free quote today!