The Benefits Of Being Your Own Boss

The Benefits Of Being Your Own Boss

- Lisa Gerstner

When I moved from Washing-ton, D.C., to Las Vegas a few summers ago, I had to adjust to more than the scorching desert climate and the presence of slot machines at my local grocery store. My status with Kiplinger also changed from employee to contractor. In other words, I became self-employed.

A recent report from accounting software provider FreshBooks predicts that the number of self-employed Americans could triple by 2020, with millennials leading the way. Technological advancements make it easier than ever to work remotely or start a business, and as your own boss, you have plenty of opportunity to shape a fulfilling career.

Self-employment comes with extra flexibility—a trait that millennials prize—but it can also make your financial life more complicated. My husband is an Air Force pilot, and my ability to keep working while I move around the country with him (we’re now in Alamogordo, N.M.) is invaluable. But I’ve faced new challenges in a variety of financial tasks.

Tackling taxes and income.