Posted on 07/30/2018 2:53:04 AM PDT by Libloather
**SNIP**
The traditional concept of employment is the latest thing that the ever-contrarian millennial generation is reinventing. They’re quitting their jobs, without worrying about what they’ll do next. According to a 2018 Millennial Survey by Deloitte, 43 percent of millennials expect to leave their job within two years. The trend is in line with broader shifts. According to the Labor Department, the percentage of workers (of any age) quitting their jobs reached 2.4 percent in May, the highest level in more than 16 years.
“Twenty years ago I never would have seen this,” says Cat Graham, a managing partner in a human resources advisory firm who has 20 years of experience in HR. “The job market is so hot right now — unemployment is at a record low, and the war for talent is hotter than ever. There are more jobs than there are qualified candidates.”
(Excerpt) Read more at foxnews.com ...
Freelancing is definitely the coming thing. This was inevitable given the power of the internet to connect workers to "employers" from any location. Also adding to the trend is the desire on the part of companies to get work done without having to add employees.
It will take some time for the kinks to get ironed out but this is going to be Yuge.
Manga = Freelancing?
I have noticed that tons of my friends of retirement age move directly from being active contributors to the working world to doing nothing (but traveling, golf, etc.). That is a huge brain drain on our economy.
Most if not all would love to work part-time in their chosen field and freelancing will give them the chance to do just that.
I think this will keep them happier and wealthier for longer...and our economy and society will be all the better for it.
As an aside, my mom and dad both lived to 94 and had a vast wealth of wisdom and knowledge to share but no real way to share it (except with me of course). They would have loved working a few hours a day online.
“Millennials are moving into freelancing (which is a great idea). “
Lesson one: how to file your quarterly taxes.
In my limited experience, I’m seeing people who want to retire at 62 but they have to stay on until they are eligible for Medicare. Another concealed effect of ObamaCare - you MUST stay in a job because the insurance options available suddenly became VERY expensive.
Now that Universal Basic Income has hit the mainstream media, I see more of them quitting to wait for their first UBI check.
>>Millennials are moving into freelancing (which is a great idea).
Freelancing is great for people with a strong work ethic. It is terrible for people who want to make full-time money and benefits for part-time work. It also doesn’t work so well for people who can’t deliver a finished product on time. My experience with working with Millennials and managing them is that they lack the basic ethics to be successful freelancers without a safety net of the parents or government.
Their mantra has always been “we don’t work because there are no jobs”. Now there are job and they want to quit working.
But I also had become a conservative and understood government services cost ME money from my paycheck. Thus I'm curious how many millennials make the connection between their freedom and capitalism versus the financial weight of socialism and lack of personal freedom.
As an aside, I think everyone should have to pay quarterly taxes. No company payroll withholding.
People would pay a LOT more attention to how much they’re paying in taxes, and what those taxes are going for.
If I could make one change to our government system, eliminating payroll withholding would be it.
I’m engaged in a personal freelancing transition project right now. I’m getting qualifications & contacts aligned for a full launch in about 3 years. A recent RV purchase will take care of the travel/recreate part of the equation while S/S and a pension cover basic funding. The consulting should fill 25-50% of the time with the money supporting travel.
I’m sure companies love freelancing because they don’t need to offer health benefits. Then those millennials will demand “free” health benefits from the government.
“Lesson one: how to file your quarterly taxes.”
Filing quarterly taxes, paying self employment taxes, and buying health insurance in the private market will give millennial a full taste of the oppressive weight of government on productive citizens. If the GOP wasn’t so focused on accommodation with Democrats they would be championing and nurturing the emerging entrepreneurial class.
Burned out after 2 years of work. I forgot snowflakes melt at very low temp. I am a boomer and far too young for the WWII generation and their legendary work ethic, but by the time I had graduated high school, I had 2 years work experience cutting neighbor’s lawns on the weekend. 2 years into college, I had worked 2 full summers and part time all through college as a waiter.
As my engineering career reaches 35 years, I find it very laughable that someone young is burned out on work after 2 years, unless they are stockbroker or CEO. I never had a bad Monday in my first 2 years of engineering and couldn’t wait for Monday to come around so I could hit the drafting table again. Loved my job.
I can’t imagine very many jobs where you could possibly get burned out after just 2 years. Bored, yes. Burned our from stress, pressure, competition, deadlines, commuting, and generally figthing the rat race in 2 yeas. No. Hell no. Only a snowflake would get burned out that quickly.
Nailed it! Been there, done that! Not doing it again!
That said, when these kids try to make it in freelancing, they will come face to face with reality...and they will either grow up (quickly) or starve.
The one thing about being your own boss is that you realize there are no safe spaces.
Yes. Great points. And you can see this flush out in the article. I have the most hope for Solomon as she is clearly a mover and shaker and understands she has to both manage her costs and hustle up work all while pursuing the great things she wants. Who knows what her true financial situation is with her parents. But if she is doing this on her own as she says. She is doing something very difficult for most to figure out.
Becoming self-employed means becoming a conservative.
Amen
Lesson 2: escrowing the money to pay quarterly taxes.
Congratulations, you just made $5000 on those freelance jobs. It ain’t all yours.
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