Don’t forget retirement
May 28th, 2008 Posted in 7 Step Consulting, Recruiting Mole
A lot of consultants out there work on a 1099 or Corp-to-corp basis so that they can control their tax situation (deducting business expenses, etc.). Other times it is on a W2 basis where your client or staffing agency takes the taxes out for you (FICA, Social Security, etc.).
I’ve got to emphasize that you cannot forget retirement. Setup whatever accounts you need to setup whether it be an IRA, 401k, or self employed IRA to save for retirement.
You may like working, but when you’re 65 years old you probably want to kick back and relax. Don’t forget retirement!
Tags: 7 Step Consulting, Recruiting Mole