Re:The Challenges of Being in the New Contract Workforce
by TheCoelacanth on Wednesday January 24, 2018 @09:04AM
(#16222683)
Your numbers seem unrealistically low for the types of jobs that low income contract workers usually have. For a job like software development where very few types of injuries are likely to occur on the job and where very few types of injuries would prevent you from performing the job the rates are low. For a higher risk job, like driving the rates will be higher. For instance, in Florida a driver's worker's comp will cost almost ten times the number you stated[1].
[1] https://www.floridawc.com/workerscompensation/policy/rates/
Re:The Challenges of Being in the New Contract Workforce
by Consultant32452 on Thursday January 25, 2018 @03:10PM
(#16234143)
For the majority of those jobs you're going to be making more money, too. Take, for example, construction work. Sure, your disability, workman's comp, etc. is going to be higher than if you're working a desk job. But at the same time the going rate for a random illegal immigrant you pick up at Home Depot around here is $20/hr.
Buying your own workman's comp is 0.0075% of your salary in my state ($0.75 per $100 in salary). Disability insurance is $30/mo for $50k salary, so if you're making $30k/yr then disability will be even less. You can make a budget, avoid consumer debt, and save an emergency fund at virtually any level of income. The median national income is $32k/yr for a single person. Sure, a lot of people making that kind of money also have bad personal finance habits. But the idea that it's impossible to live a decent life on the kind of income that half of all single people in the country are making is hyperbole.