[thelist] going solo?

[Eric Miller]

The 1000 * hourly rate = salary is a minimum. For a salary of $70,000/year:

$70/hr * 40 hrs/week * 50 wks = $140,000

It is a 2-to-1 ratio if you are lucky enough to be billable full time and
can take 2 weeks off. A big if. You also have to work another 10-20 hours a
week on top of that to find your next client, do billing, ...


Eric Miller

-----Original Message-----
From: thelist-admin at lists.evolt.org
[mailto:thelist-admin at lists.evolt.org]On Behalf Of Joshua Olson
Sent: Friday, September 28, 2001 5:01 PM
To: thelist at lists.evolt.org
Subject: Re: [thelist] going solo?


but look again,

Gene said you should have $2 independent for each dollar of salary as a
rule, right?  Which mean that if you are making 30000 salary as an employee,
you will need about 60000 independently to have the same lifestyle.  So, to
make 60000/yr, then you need to set your rate at 30/hr.  Which, is 1/1000 of
your salary rate as an employee.  Again, these three are in agreement.  You
just have to be very careful when analyzing it.

-joshua

----- Original Message -----
From: "James Aylard" <webmaster at equilon-mrc.com>
To: <thelist at lists.evolt.org>
Sent: Friday, September 28, 2001 4:45 PM
Subject: Re: [thelist] going solo?


: -joshua,
:
: > Sounds like everybody's in agreement.
:
:     Not really. Take a look at those figures again...
:
: > Based on Jack's calculations, 30/hr = 60000 a year.
:
:     This assumes 50 weeks per year...
:
: > Eric suggested hourly rate * 1000 should be equal to annual rate as
: > employee.
:
:     This would be true only if you work *25* weeks per year (or four hours
a
: day at 50 weeks). To jibe with Jack's calculations, you would have to
: multiply the hourly rate * 2000, not 1000. For most people in the U.S. who
: work as full-time employees, Jack's figures are correct.
:
: James Aylard


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