Reply to: Who expects to still be contracting in 5 years time ?

[CaribbeanPirate]

For a small fee I'll do it!

Form an orderly queue!

[Phoenix]

Well for a small fee I'm sure I can convince them...

For a small fee I'll do it!

[Ardesco]

Well for a small fee I'm sure I can convince them...

[CaribbeanPirate]

I will be dead in 5 years time.

Or so the IR will think......

I hope that is what they think I am now.

[_V_]

Who expects to still be contracting in 5 years time ?

if not what will you be doing in 5 years time ?

Milan.

I will be dead in 5 years time.

Or so the IR will think......

[partimer]

once again

Milan,
I'm sure we go through this every couple of months.
To refresh the late comers, the idea is to turn your Ltd into something of value.

I bet 98 percent of the Ltds used by this board have only one asset and that is the director. If you left your company I bet your Ltd would probably be worthless.
The trick whilst you're all busy contracting is to make the Ltd have value. This can be either a software package (e.g. SKA), a web site that brings in money (Fiddle's car parts site), even a database full of contacts you have made - which an agency would like to have, etc.

Once you have actually got value in your Ltd (and I don't mean a cash stock pile which gets slowly eroded via dividend distribution) you have a fighting chance of selling it, or put some CEO in your place. Sit back and take the profits.

That's the way forward for the entrepreneurs among us. If you are a bum on sit contractor, one BAD down turn will wipe you out.

[Pinto]

I bet you act like a Permie

No, not all. I was a permie before I became a contractor 12 years ago, and I my current client treats me like what I am, a contractor. The first 6 years I was on 3 month extensions, followed by 6 month ones. This is the first year I actually got a 1 year extension.

[ChimpMaster]

I hope to work hard contracting for the next 5 years, save up , pay off my mortgage and then choose whether to live in this tulipehole or move to Oz.

[Flubster]

Plan is to gain experience at lots of sites for the next 5 years (went contracting in March), then go permie at a 'top 5' consultancy.

Previous permie job was middle management, but wanted to spread my wings for a few years and pay off a chunk of mortgage in the process.

Is this wrong?

[Bagpuss]

I'm afraid so.

I bet you act like a Permie

[DaveB]

Either a)

Keep contracting till my experience gets me a well paid ( 100k+ )
senior permie role with a decent pension and all the goodies.

or b)

Turn what I do now into a pukka consultancy business and get bought out by one of the big boys for large amounts of wonga and retire on that.

So basically yes, I'll still be "contracting" in 5 years and hopefully at the point where I get to choose between taking A or going for B.

[sasguru]

Just become a manager who spends his time surfing all day.

[Pinto]

IR35 compliant?

I'm afraid so.

[Viktor]

No, I'm a contractor on a very long contract.

IR35 compliant?

[Pinto]

You are a Permie then?!

No, I'm a contractor on a very long contract.