Why Freelancers Should Keep Their Health Insurance in 2019
From 2009 until 2011, in the bad old days before Obamacare, I had no health insurance. It was a reckless gamble on my own health, but at that time, freelancers without a day job or a spouse with an employer plan were forced to make a distressing choice: pay for expensive, often-shoddy individual insurance, or go without and risk being unable to afford the costs of an unexpected medical event.
Retirement Accounts for Independent Contractors
by Nathan Schorsch, Head to Toe Financial
I have gone over some of the retirement accounts for those who work for larger companies and the differences between 401(k) and 403(b) retirement plans, but I wanted to spend some time going over options for those who own their own practice or have created their own company. For those who are independent contractors and get paid via a 1099 and not a W2, the options for retirement accounts can be confusing and much more complicated than simply contributing to your employer sponsored account.
Independent Contractor Physician First Steps
Welcome to the world of self-employment. As an independent contractor physician or locums physician, you are in the enviable position of being in high demand. Being self-employed creates a series of challenges that your peers who aren’t independent contractors might not experience. One of these challenges is finding and funding your own “company” benefits.
For more on financial planning for freelancers, check out these posts:
- Your Financial Checklist Before Quitting Your Job to Freelance
- Good Financial Reads: Freelancing & Side Hustles
Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.