POLL: How Many On Here Were Self-Employed?

[z-d-g]

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.

[Original Wally]

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......

[novaman]

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.

[z-d-g]

Quote:

Originally Posted by AWeinel 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.

[UserRequested]

Quote:

Originally Posted by z-d-g 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?

[z-d-g]

Quote:

Originally Posted by jags 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?"

[audreyh1]

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.

[BTravlin]

Self employed in sales as an independent rep since 1989 and will ER this summer.

[Dimsumkid]

Quote:

Originally Posted by audreyh1 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.

[z-d-g]

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?

[obgyn65]

Primarily an employee in my case.

[scrinch]

Was an independent consultant for a few years, but primarily an employee over my career.

[imoldernu]

Employee for 28 years, Self employed for next 3.

[audreyh1]

Quote:

Originally Posted by Dimsumkid 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".

[calmloki]

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.

[Dimsumkid]

Quote:

Originally Posted by audreyh1 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.

[Animorph]

Primarily an employee, though exercised stock options meant I was technically a very minority owner. And that did help with ER.

[audreyh1]

Quote:

Originally Posted by Animorph Primarily an employee, though exercised stock options meant I was technically a very minority owner. And that did help with ER.

+1

[traineeinvestor]

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.

[audreyh1]

Quote:

Originally Posted by Dimsumkid 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.