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Any self employed people here? How do you handle health insurance and got any tips?

Some more background. I am really unhappy where I am. I have no energy because it's a manufacturing job and I sit in front of a machine all day and press buttons. When I used to have an active job that energy carried over after work, now when I am done I just want to go home and sit. I don't want a lot of money, I want time. I want time to spend with people, family, pets, I want the flexibility to be able to take off and go for a hike in the woods if I want. If I can make more money later I would be grateful, but for now I would just like to be able to make enough to have some freedom with my time.
If you are looking to work less than 40hrs punching the clock like you do now, I highly doubt you would be successful starting your own business.

You would work more hours, but might be able to work odd hours to make more time during the day for other things.

Having a lot of free time as a sole proprietor is a bad deal because it means you are not making money.

Do you have any idea of what it is you would like to do if you did start your own business?
 
I dropped mine 2.5 years ago when it hit $2500 a month just for my wife and I. The UNaffordable care act destroyed the healthcare system especially for self employed people as I was paying about $1250 month and then with in a few years it doubled. Hopefully one day it WILL actually be affordable again but I doubt it. Good luck with whatever you decide to do.
 
Insurance is such a scam. I would look into the affordable health act. I know a friend of mine cut his and his wife’s cost in 1/2 that way.
 
I dropped mine 2.5 years ago when it hit $2500 a month just for my wife and I. The UNaffordable care act destroyed the healthcare system especially for self employed people as I was paying about $1250 month and then with in a few years it doubled. Hopefully one day it WILL actually be affordable again but I doubt it. Good luck with whatever you decide to do.
Same way with us, we were paying 2 other families premiums without knowing it.
 
Insurance is such a scam. I would look into the affordable health act. I know a friend of mine cut his and his wife’s cost in 1/2 that way.
Where is the affordable health act?? If you are talking about the Affordable healthcare act through the government that is the one that priced my family OUT of healthcare. They do have new policies now though with $8,000 deductibles so you can pay 17k a year but if you need anything it’s 25k a year. The “sales person” told me they will get the $$ either way and the system is horrible for those who work. Those were her exact words.
 
Here is the subsidy calculator, all the rest is bullshit.

 
I understand not wanting to be a button pushing drone in a factory. I like to get out and move around. I was self employed as a building and remodeling contractor for several years. Worked my *** off, and the stress was intense at times. But I loved every minute because it was what I wanted to do, and I was my own boss. But the idea of working less hours ain't going to work.. I probably put in 40 hours a week on sites, plus 20-30 more calling on potential customers, picking up materials, and doing estimates, etc. As far as making work out of a hobby, you hobby will probably become work, and then less enjoyable. In today's market, a lot of employers are begging for workers. I would advise you to find a job in the field or line of work you are interested in. Spend a year or so there to learn the actual daily requirements and working conditions. Then, take the plunge if you still want to enter it on your own. But no matter what, if you are miserable in your factory button pushing job, GTFO and find something different!
 
my experience is you need to be either very small or very big...... by very small, I mean ALONE; with no employees and little to no overhead......but that means doing EVERYTHING yourself
Eldubb440 is correct here. One year, I had 5 employees and the usual headaches and expenses involved with having workers. Things slowed down, and the next year I worked alone for the most part of the year. My gross income was way down, BUT at the end of the day, my personal income was basically pretty much the same. I learned a valuable lesson, and kept my stress level way down after that. (Just hiring subs on the occasions I needed extra help.)
 
Eldubb440 is correct here. One year, I had 5 employees and the usual headaches and expenses involved with having workers. Things slowed down, and the next year I worked alone for the most part of the year. My gross income was way down, BUT at the end of the day, my personal income was basically pretty much the same. I learned a valuable lesson, and kept my stress level way down after that. (Just hiring subs on the occasions I needed extra help.)

I had the opportunity to open a collision shop in a high traffic area..... 3 employees cost about 180K per year after payroll tax and workmans comp.....add in rent, electric, heat, business insurance, ect........ everyone got paid except me....... it was impossible to shove enough work through one paint booth to keep up.......it damn near killed me.......after a couple years, I couldn't run away fast enough.....
there was no way to compete with large shops using multiple paint booths and umpteen employees....... now I work at home, alone; at 58, it's hard and it hurts, but way better than the alternative
 
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I have been paying health insurance since 1987, it was affordable until Obamacare. Right now it costs me, my wife, and one employee $3000 a month with 5000 deductible for a group plan thru an independent agent. The price is the same as it would be with no agent thru the government online e signup,, but the agent gets me answers on billing and procedures the same day. The group plans for couples are gone, the religious plans are a cost share deal. If you set up as a corporation and provide insurance for the employees it is a 100% write off so far. I look at it like this the more I spend the less the dirt bags get when they tax me. Oh ya..... that 3 grand a month and 5 grand deductible is considered a GOLD plan, fkn joke.
 
I should add, 40 hours a week and self employed just starting out, try 80-100.
 
I had the opportunity to open a collision shop in a high traffic area..... 3 employees cost about 180K per year after payroll tax and workmans comp.....add in rent, electric, heat, business insurance, ect........ everyone got paid except me....... it was impossible to shove enough work through one paint booth to keep up.......it damn near killed me.......after a couple years, I couldn't run away fast enough.....
there was no way to compete with large shops using multiple paint booths and umpteen employees....... now I work at home, alone; at 58, it's hard and it hurts, but way better than the alternative
I've seen the same thing in the trucking business. Guy does well with one truck, then starts adding, ends up making less than when he was solo. Big company I worked for started out by buying an existing small fleet. I got to know a few honchos in the top 100 carriers during my corporate tour, and found most had done the same. I nearly went from one truck to 35 in 2010, now kind of glad it didn't happen.
 
I've seen the same thing in the trucking business. Guy does well with one truck, then starts adding, ends up making less than when he was solo. Big company I worked for started out by buying an existing small fleet. I got to know a few honchos in the top 100 carriers during my corporate tour, and found most had done the same. I nearly went from one truck to 35 in 2010, now kind of glad it didn't happen.
In trucking being a sole proprietor was the only way to go for me. I would be a terrible fleet owner as I don't like most drivers in the business.
 
it should be named
the Unaffordable care act... = Obamacare
 
I had the opportunity to open a collision shop in a high traffic area..... 3 employees cost about 180K per year after payroll tax and workmans comp.....add in rent, electric, heat, business insurance, ect........ everyone got paid except me....... it was impossible to shove enough work through one paint booth to keep up.......it damn near killed me.......after a couple years, I couldn't run away fast enough.....
there was no way to compete with large shops using multiple paint booths and umpteen employees....... now I work at home, alone; at 58, it's hard and it hurts, but way better than the alternative
Exactly this… I had a guy approach me who I knew was also in Property Maintenance and he said oh you should do what I just did.. bought another truck, trailer, chainsaws, trimmers etc along with two more mowers gonna make a lot more now.. Ran into him two years later and he sold everything and went out of business.. I said what happened? He said the one guy totaled the truck and trailer along with one mower that flew off while running a red light…. He said it was the worst decision he ever made, spent a lot of money made more but in the end with expenses he made less and had three times the headache with just two other guys as they f-d everything up and he was always touching up things, finishing jobs and fixing things. Said he was better off and kept more $$ working by himself!
 
I pay $132 per month with $500 deductible. I find it affordable.
What is your income range? What state? What kind of coverage? It all matters to the bottom line. I had a $700 per month policy that was really good coverage through O care. Then they discontinued O care policies in Oklahoma which left blue cross. That same policy through BC was $3100 per month. Do you have a bronze policy that covers nothing? Obamacare was and is a money grab from the Self-employed.
 
I pay $132 per month with $500 deductible. I find it affordable.
Not being a smart *** but that is because someone who makes more is paying the rest for you…That’s how it works as it is income based and punishes those in the middle class..
 
Exactly this… I had a guy approach me who I knew was also in Property Maintenance and he said oh you should do what I just did.. bought another truck, trailer, chainsaws, trimmers etc along with two more mowers gonna make a lot more now.. Ran into him two years later and he sold everything and went out of business.. I said what happened? He said the one guy totaled the truck and trailer along with one mower that flew off while running a red light…. He said it was the worst decision he ever made, spent a lot of money made more but in the end with expenses he made less and had three times the headache with just two other guys as they f-d everything up and he was always touching up things, finishing jobs and fixing things. Said he was better off and kept more $$ working by himself!

oh, and let me add that it took another 16 months to actually get out...... I had to keep my intentions to myself. I needed my guys to keep working and had to keep the rent/bills paid while undoing the mess and getting out with out owing anyone money.......it was by far the most stress I ever had to endure, what a ******* nightmare......I wish someone had enlightened me before I enthusiastically jumped in.......my posts in this thread are worth a million dollars
 
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