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by vax425
2202 days ago
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Congratulations! You've got the fundamental building block of what I call "The Dev Lifestyle". You can work PILLARS, CONTRACTS, and SIDE HUSTLES - mix and match to suit you. Your PILLAR job is the one that provides a modest salary and very valuable benefits. It must not require many meetings and you need to be able to keep it with as little effort as possible, otherwise the rest of The Lifestyle becomes impossible. Don't take a management job there (more meetings). Keep it as long as you can. Next, you'll want to start moonlighting as a consultant. This is your CONTRACT GIG. This will often pay MORE than your PILLAR pays you. Use contract gigs to develop a huge network of people over time who will hire you for yet more contract gigs. With the right accountant at your side, your overall tax rate for contracts (in the USA) will be ridiculously low, so you end up with even more in your bank account. Along the way, you will get ideas for products or services. These are your SIDE HUSTLES. Develop and market them yourself. Push yourself to use new and interesting technologies in these endeavors. Eventually you might hit the jackpot and have a business that pays you enough to quit all other work. Good luck! |
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I was under the impression that overall tax is usually ~10% higher for contractors in the US.