Quote: (01-16-2017 09:35 PM)Oilrig Wrote:
Yes exactly. I could probably make similar or more money on my own. But I work for a fortune 100 company that provides cheap benefits, generous 401k and pension plan. All of that is probably worth an extra 50-60k a year.
not arguing with you specifically, but this is atypical.
I work for a Fortune 500 company with good benefits, but a fraction of the value you are talking about. Yes, we subsidize health insurance, but that subsidy is worth about $8000 a person, (if you have a family of 4, its $32,000). That is our cost in the group; if you are young and healthy the value of this subsidy is much less. A 401k you can replicate with an IRA; the real value is a company match. We match but it effectively capped at $8000 per person coincidentally. Besides those two, there aren't any other benefits worth mentioning. Almost no companies provide a pension anymore, and those that do are working to eliminate them. If you have one, expect it to be frozen in the near future - you retain your vested benefits but accrue none further.
in contrast, with a private business, you can run all sorts of expenses through your business - car payment, cell phone, interent, lunches, entertainment, etc. if done right, this will be better than the Fortune 500 benefits.