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10-31-2007, 02:25 PM
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Greenhorn
Join Date: Jul 2006
Posts: 20
Rep Power: 6  |
Is it true that you could end up with a better retirement as a contractor vs being a direct employee?
A friend of mine who is an economics/finance major told me that he did some analysis of this since he started working as a contractor and found that contractor's make more money and therefore are able to invest more money into a 401k or a Roth or Mutual Funds vs a direct hire since their salaries are much lower. Is this true?<br />
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10-31-2007, 02:25 PM
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#2 |
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Greenhorn
Join Date: Jul 2006
Posts: 16
Rep Power: 0 |
Is it true that you could end up with a better retirement as a contractor vs being a direct employee?
If you work for an employer and they have a 401 plan they tell you what stocks they offer. If the stock market goes down, so does the stocks. If you're self employed, you can pick what stocks you want. Also if you work for a co, the do not always match the percentage you put in. My wife works for a law firm, and all they give her is $2,000 per year.
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10-31-2007, 02:25 PM
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#3 |
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Greenhorn
Join Date: Jul 2006
Posts: 28
Rep Power: 6 |
Is it true that you could end up with a better retirement as a contractor vs being a direct employee?
Yes.
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