Five for five (Part 1)
Posted on: October 1, 2019
I have a fortnight of intense grading (I am handling 40% of a cohort) and another of performance assessment. So I need to keep my head down, grit my teeth, and write some blog entries in advance.
I mentioned on Saturday that I would share some unsolicited advice on being a freelancer or an independent worker. This is Q&A 1.
Do you need to take care of anyone other than yourself?
Do you have a family? Do you or a family member have a chronic health issue? Are you the sole earner in your household?
If so, you might think twice about leaving full-time employment. Your employer might already offer a good health insurance plan. They might even pay for it in part or in full.
If you go independent, you have to get your own plan. In Singapore, it is also compulsory to top up your Medisave account in one lump sum every year or in monthly instalments. This can be a strain if you do not have a regular flow of income.
Those considerations apply whether you only need to support yourself or if you have others to take care of. If you are the sole earner in the family, bump those factors up by each person you need to cover.
In short, if you have others to take care of and are thinking of flying solo for work, seriously consider grounding your plans for the sake of those you love. Take flight only if you have a considerable nest egg (see next question).
Another dot in the blogosphere? 
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