What do you do for work? Is it something that you can do from home full time?
If so, you are in the same boat as me. When and if my company give this ridiculous edict, I will either work as a contractor on a 1099 or I will be setting up a LLC as a single member and contract out to my old company.
My boss has no problems with me doing this. The only thing is I will responsible for all the benefits: health, dental, Long term disability, etc...
“The only thing is I will responsible for all the benefits: health, dental, Long term disability, etc...”
I am 59, my wife is 60. Our health insurance as self employed runs just shy of $2000 per month and that is with a $8750 deductible each...yes each. No R/X is covered until we meet the deductible.
At age 63-44 it goes up to $3200 month. Almost $40,000 per year. That is no dental, disability, life etc either.
Before you jump into the deep end of the pond make sure you know exactly what your expenses will be as a sub contractor
Just factor those expenses into your rate. Your company is paying for them now; their rates just might be a little lower.
You can also work for other companies, too.