{"id":8142,"date":"2015-05-15T06:11:12","date_gmt":"2015-05-15T11:11:12","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8142"},"modified":"2015-05-15T06:11:12","modified_gmt":"2015-05-15T11:11:12","slug":"the-self-employed-middle-class-hardly-exists-anymore","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8142","title":{"rendered":"The Self-Employed Middle Class Hardly Exists Anymore"},"content":{"rendered":"

The Self-Employed Middle Class Hardly Exists Anymore<\/a><\/h3>\n
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Why owning your own income is more important than ever now<\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n

Many people rightly aspire to improve their household’s state of resilience through actions such as storing emergency supplies, starting a vegetable garden, and learning basic readiness\/maintenance skills, etc. In general, resilience boils down to self-reliance. But like it or not, in our largely urbanized society, true long-term self-reliance needs to include some measure of financial independence.<\/p>\n

By ‘financial independence’ I don\u2019t mean so much wealth that you no longer have to earn a living. Rather, in this discussion, financial independence means owning income streams that you control lock, stock and barrel. Some of this income may be passive (for example, royalties earned off a patent you own) but for most people, ‘independent’ income is actively earned via their own labor (i.e. self-employment).<\/p>\n

Of course, the easiest path to financial independence is being born into a wealthy, well-connected family. But since few of us win that born-rich lottery, this article addresses the important question:\u00a0How do \u201cthe rest of us\u201d carve out financial independence?<\/em><\/p>\n

How Many Make a Middle Class Income from Self-Employment?<\/h2>\n

Let\u2019s start by defining ‘self-employment’ as an\u00a0enterprise without employees that has more than one client<\/em>. If a consultant\u2019s entire annual income is from one client year after year, for example, the Department of Defense (DoD), the consultant is more of a proxy employee of the DoD than a sole proprietor. In an era where Corporate America and the government attempt to shed employment costs by hiring independent contractors rather than employees, we need to differentiate between quasi-employees who work for one client and the truly self-employed. Unfortunately, the officially-reported employment data does not distinguish between the two.<\/p>\n

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…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

The Self-Employed Middle Class Hardly Exists Anymore Why owning your own income is more important than ever now Many people rightly aspire to improve their household’s state of resilience through actions such as storing emergency supplies, starting a vegetable garden, and learning basic readiness\/maintenance skills, etc. In general, resilience boils down to self-reliance. But like […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[171,5431,421,483,2137,680,5430,868],"class_list":["post-8142","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-corporations","tag-financial-independence","tag-income","tag-liberty-2","tag-middle-class","tag-resilience","tag-self-employment","tag-wealth"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8142"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8142\/revisions"}],"predecessor-version":[{"id":8143,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8142\/revisions\/8143"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}