Or if by some miracle the new person is employed, another person has already quit so the work they pick up has little to no impact on yours. Or economic factors change and suddenly the business goes from employing new people to a hiring freeze. The hiring process is slow and a comedy of errors happens. The business promises someone else will come to pick up the slack, but until then, everyone has to work more. The workload always increased with no end in sightĪ key colleague leaves. I could show empathy, respect, and a listening ear to customers and get rewarded when I did.īusinesses that plateau, or even fail, don’t speak to customers. Working for myself meant I could treat customers how I wanted to. So what happened is they made dumbass decisions that made my job ten times harder. Most of the leaders I worked with never spoke to a customer. To be good at business you need to be good with customers also known as humans.
Running a business or having a successful career is hard. Photo by Francisco Andreotti on Unsplash I got sick of this one thing about business leaders I had to put on an act for these leaders and pretend I didn’t know the game they were playing.
They played the politics game and got good at it. In other words they were great at throwing people under the bus, back-stabbing, and being cruel to people. Yet somehow they earned a boatload of money and got to make important decisions.īy the end of my 9-5 career last year, it hit me: they were weasels.
#I WANT TO QUIT MY JOB AFTER ONE DAY FULL#
Then I later moved to work in tech full time. I got sick of running in corporate circles like a circus animal Doing your own thing is efficient and you make tax decisions.īottom line: You can earn 50% less money working for yourself and still make the same money you did with your old salary. Salaries are inefficient and tax is automatically deducted.
My tax dollars are funding my investments instead of me having to do it all by myself with a salary.Įverything I just described gives you tax efficiency. Suddenly, a huge chunk of my tax bill is gone (legally).īecause I can delay when I pay tax, that money can be put to use in the financial markets until such time as I need to pay a tax bill. It’s to use assets to borrow money and buy more assets. The other 25% of tax left over still has to be paid, but I don’t pay it until I sell the asset one day and cash out to my personal name. When I became my own one-person business, I could pay 25% company tax on any income and then invest the money into assets. Some quarters I may want to pay more tax than other quarters for cash flow reasons. Or I could select how much tax to pay per quarter based on my estimates. If I got a large amount of money I could increase my expenses to reinvest in myself or the business. I got paid for my work but the tax process was entirely manual. When I started working for myself the game changed. Let me be clear: this isn’t about avoiding tax, it’s about having options around tax. This means you don’t get to choose when to pay tax or how much to pay for a given year. Then I started learning more about how money works and what wealthy people do. Not once did I ever think that was a defect. Last year in my old job, I paid almost 50% tax on every dollar I earned. The way tax works makes salaries a bad choice It wasn’t one moment that made me quit my job and do my own thing. And people are wondering, is this all there is?Ī reader asked me “what was the moment that made you decide to throw it all in and do your own thing?” This question has come up a lot lately. Millions of people are rethinking their careers. The trend right now is to quiet quit or old-fashion quit a job.
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