Join Early Retirement Today
View Poll Results: Were You Primarily Self-Employed or Not Self-Employed In Becoming FIRE'd?
I was primarily self-employed; I owned the business that allowed me to retire early. 15 13.64%
I was primarily an employee; I did not own the business(es) that I worked at while saving for retirement. 82 74.55%
A mixture of the two; I worked for someone else but also owned a side business that provided income. 10 9.09%
Impossible to answer because my situation was just too complex. 3 2.73%
Voters: 110. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
POLL: How Many On Here Were Self-Employed?
Old 02-18-2013, 04:20 PM   #1
Recycles dryer sheets
 
Join Date: Nov 2011
Location: Los Angeles, CA
Posts: 65
POLL: How Many On Here Were Self-Employed?

I'm trying to figure out how many of us were the owners of the business and how many of us managed to save and FIRE through employment. I'm one of the ones who owned his own business (5 of them, although it was one in particular that lead to FIRE).

Honestly, I'd be somewhat interested in talking to some of the other former business owners who FIRE'd about their lives after retiring.
__________________

__________________
z-d-g is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-18-2013, 04:24 PM   #2
Recycles dryer sheets
 
Join Date: Jul 2008
Location: Sacramento area
Posts: 444
Interesting. My first response was Nope. W*rked for the accounting / treasury department of the local Electrical Utility for the last couple of decades. But wait - I also keps a modestly small tax practice on the side. In terms of value added it was pretty small. But still, I **was** also self employed. Hmmmmmmmmm......
__________________

__________________
AWeinel is offline   Reply With Quote
Old 02-18-2013, 04:27 PM   #3
Recycles dryer sheets
 
Join Date: May 2007
Posts: 371
I'm a self employed dentist who owns my own practice. I've been in practice 24 years. While I continue to work, I've been FI for several years now.
__________________
novaman is offline   Reply With Quote
Old 02-18-2013, 04:29 PM   #4
Recycles dryer sheets
 
Join Date: Nov 2011
Location: Los Angeles, CA
Posts: 65
Quote:
Originally Posted by AWeinel View Post
Interesting. My first response was Nope. W*rked for the accounting / treasury department of the local Electrical Utility for the last couple of decades. But wait - I also keps a modestly small tax practice on the side. In terms of value added it was pretty small. But still, I **was** also self employed. Hmmmmmmmmm......
Well, that's why I left the third option in there. For people that have a mixture of the two.
__________________
z-d-g is offline   Reply With Quote
Old 02-18-2013, 04:36 PM   #5
gone traveling
 
Join Date: Oct 2012
Posts: 329
Quote:
Originally Posted by z-d-g View Post
Well, that's why I left the third option in there. For people that have a mixture of the two.
Presume third option includes those who supplement their employment income with investment income such as share trading, dividends and rental income?
__________________
UserRequested is offline   Reply With Quote
Old 02-18-2013, 04:42 PM   #6
Recycles dryer sheets
 
Join Date: Nov 2011
Location: Los Angeles, CA
Posts: 65
Quote:
Originally Posted by jags View Post
Presume third option includes those who supplement their employment income with investment income such as share trading, dividends and rental income?
If we're talking about investments that aren't changing your job status (for example, inherited money that means you no longer HAVE to work) then I don't think the investments should change your status for the purpose of this question.

For example, if you're an employed engineer who owns a rental property and some mutual funds, even though you're getting income off those things you are primarily "employed" for the purpose of this question. It's more about...were you primarily self-employed or not and not "what is the source of your retirement funds in general?"
__________________
z-d-g is offline   Reply With Quote
Old 02-18-2013, 04:53 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,471
I was employed, but since I started when the company was very small, I owned stock options in the company that I worked for, and these stock options became valuable after the company had grown considerably and allowed me to retire early. So in that sense I owned a part of the business even though I was an employee and not one of the founders.

I don't see how my case fits in your poll.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 02-18-2013, 04:58 PM   #8
Full time employment: Posting here.
BTravlin's Avatar
 
Join Date: May 2010
Posts: 994
Self employed in sales as an independent rep since 1989 and will ER this summer.
__________________
Wherever you go, there you are.
(In other words, no whining!)
BTravlin is offline   Reply With Quote
Old 02-18-2013, 05:19 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Jul 2010
Location: Chicago
Posts: 1,001
Quote:
Originally Posted by audreyh1 View Post
I was employed, but since I started when the company was very small, I owned stock options in the company
You should select option 2. You're missing the word in front of Stock Options - Employee. If still in doubt, did you get a W-2? Who signed your paychecks? In my experience, Self Employed people get a 1099 statement.
__________________
Dimsumkid is offline   Reply With Quote
Old 02-18-2013, 05:47 PM   #10
Recycles dryer sheets
 
Join Date: Nov 2011
Location: Los Angeles, CA
Posts: 65
I can see I made this a lot more difficult than I meant to.

Here's what I was getting at: were you the decision-making creator of the job you had or did you work for someone else?
__________________
z-d-g is offline   Reply With Quote
Old 02-18-2013, 05:56 PM   #11
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
Primarily an employee in my case.
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Old 02-18-2013, 06:15 PM   #12
Thinks s/he gets paid by the post
 
Join Date: Apr 2006
Location: North Bay
Posts: 1,026
Was an independent consultant for a few years, but primarily an employee over my career.
__________________
scrinch is offline   Reply With Quote
Old 02-18-2013, 06:20 PM   #13
Thinks s/he gets paid by the post
imoldernu's Avatar
 
Join Date: Jul 2012
Location: Peru
Posts: 4,616
Employee for 28 years, Self employed for next 3.
__________________
Today is the oldest you've ever been, and the youngest you'll ever be again. - Eleanor Roosevelt
imoldernu is offline   Reply With Quote
Old 02-18-2013, 06:30 PM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,471
Quote:
Originally Posted by Dimsumkid View Post
You should select option 2. You're missing the word in front of Stock Options - Employee. If still in doubt, did you get a W-2? Who signed your paychecks? In my experience, Self Employed people get a 1099 statement.
Interesting - the president who was founder and major shareholder in the company also got a W2, and I would certainly consider him an owner, along with his main cofounders. So I don't think your qualifier applies. And I had also purchased some initial shares that weren't "employee stock options".
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 02-18-2013, 06:37 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 5,459
4 in the Navy + employee for several years + partner in a two man VW shop for a few means I accidentally qualify for social security. Thirty-five years or so of increasing rental real estate holdings means financial independence. Of course the government says that rental income is all unearned income - but I'm claiming self employed, 'cause sometimes it sorta felt like work... and I feel fairly independent.
__________________
calmloki is offline   Reply With Quote
Old 02-18-2013, 07:45 PM   #16
Thinks s/he gets paid by the post
 
Join Date: Jul 2010
Location: Chicago
Posts: 1,001
Quote:
Originally Posted by audreyh1 View Post
Interesting - the president who was founder and major shareholder in the company also got a W2, and I would certainly consider him an owner, along with his main cofounders. So I don't think your qualifier applies. And I had also purchased some initial shares that weren't "employee stock options".
I'm not sure why you said the choices didn't really fit your situation. You could've just picked option 4.
__________________
Dimsumkid is offline   Reply With Quote
Old 02-18-2013, 07:58 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Jul 2005
Posts: 3,862
Primarily an employee, though exercised stock options meant I was technically a very minority owner. And that did help with ER.
__________________
Animorph is offline   Reply With Quote
Old 02-18-2013, 08:15 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,471
Quote:
Originally Posted by Animorph View Post
Primarily an employee, though exercised stock options meant I was technically a very minority owner. And that did help with ER.
+1
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 02-18-2013, 08:54 PM   #19
Thinks s/he gets paid by the post
 
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,575
As a partner in a law firm, I am technically a business owner but the reality is that in large firms you do not really feel all that different from an employee.
__________________
Budgeting is a skill practised by people who are bad at politics.
traineeinvestor is offline   Reply With Quote
Old 02-18-2013, 09:18 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,471
Quote:
Originally Posted by Dimsumkid View Post
I'm not sure why you said the choices didn't really fit your situation. You could've just picked option 4.
I didn't consider my situation complex at all.
__________________

__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 06:18 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.