Contracting - go for higher rate or repeated business?

[diseasex]

I've been slagged off on here for baiting and for trying to crush someone's dreams. All I've tried to do is get him to think about his dreams and to work out how he is going to turn them into goals. Also to understand what the dreams actually are.


When I was 25 I set a target of being debt free by 50. No mortgage, no loans, nothing. At that time I had just bought my first house and had a few loans as well. I've moved house twice since then and am in one that cost 15x the price of the first. I'm still on target to be debt free by 50.


Along the way I have taken out life assurance policies, investments, shares, savings schemes, ISAs, premium bonds, etc. Some have lost money or returned close to the amount put in, some have made money.


I've also had friends who took out big mortgages and juggled money around to pay the bills each month. One of them passed away, leaving his wife with his bills but little means to pay them. Another was being chased by bailiffs a few years ago because he was borrowing to pay bills.
But some of them have also been shrewd with their money, paying for good accountants and making careful investments.


I still have dreams e.g. planting a vineyard, having a 2 seater vintage sports car, going on a grand tour with my wife and dog, making my own gin.
Some of my dreams have dropped off the list - the childhood one of being an F1 driver. In my 20s wanting to be a rock star and marry a supermodel (I managed to play a few gigs and dated a model but neither were as much fun as I dreamt they would be). In my 30s I wanted to own a property in a ski resort. That's been ticked off.


There's nothing wrong with dreaming - the difference between childhood dreams and adult ones should be the reasoning and planning behind them and the ability to take advice from others on how to achieve them.

I don't care what are you dreaming about. You didn't say how you want to achieve them so I can bash your arguments . You will fail, and once you are on the rock bottom - I have a cuckoo land job for you

[northernladuk]

Contracting is a good earner and anyone who can do it well probably has more brains than your average permie - so I take that into account when someone like the OP comes on here talking about his dreams..

I don't agree with this at all. Every man and his dog regardless of experience and brains are going contracting as it's fast becoming the standard way for company's to resource up. The days of contractors being better than permies have well gone.

[MrMarkyMark]

I take that into account when someone like the OP comes on here talking about his dreams.

I'll say it again, they are not dreams, he is already doing this investing.

IMO, he is already heading into trouble.

P.S. I have no trouble whatsoever, with dreams or ambition, just a need for them to be, thought through and executed properly.

My whole family, including my step parents, are all self employed, various industries, they certainly wouldn't be managing their affairs in this fashion.

You will fail, and once you are on the rock bottom - I have a cuckoo land job for you

Did someone drop something in your tea?

[Antman]

Contractor Dreams

I'm going to send this thread to Andrew Lloyd Weber, it's got West End Musical written all over it!

[MrMarkyMark]

I'm going to send this thread to Andrew Lloyd Weber, it's got West End Musical written all over it!

Quite happy to chip in and play the recorder, if needed

[diseasex]

I'll say it again, they are not dreams, he is already doing this investing.

Are you jealous?

[CalamityJane]

I'm going to send this thread to Andrew Lloyd Weber, it's got West End Musical written all over it!

I'd buy tickets!

The closing number where the scorned contractor comes back into town, older, wiser, but now owning his own island, and belts out that "Why didn't you believe in me?" number to his old comrades, while they tap away at their laptops dutifully, (under the watchful eye of their clients), is outstanding!!

[diseasex]

I'd buy tickets!

The closing number where the scorned contractor comes back into town, older, wiser, but now owning his own island, and belts out that "Why didn't you believe in me?" number to his old comrades, while they tap away at their laptops / tablets dutifully, under the watchful eye of their clients, is outstanding!!

Well when I joined this forum they were all like "stay permie, you will fail"

[MrMarkyMark]

Are you jealous?

Of what, exactly?

I'm just in the process of finishing a 3.5 year IB regulatory programme, bud.
After that I will be having a few months off somewhere hot, although, I have plenty of others wishing to engage.

Nothing to be jealous of, I can assure you, after 15 years of this, my finances are in rude health.
My rate has doubled during that time.

Don't worry about me, I will be just fine

[MrMarkyMark]

FTFY

The closing number where the scorned contractor comes back into town, older, wiser, but now facing a major HMRC investigation, and belts out "Pass the lube, I may be gone some time".