03-25-2010, 11:41 AM
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Just remember, as a private contractor you have to provide your own insurance. Since you'll be doing what's considered a dangerous line of work, expect the premiums to be fairly high.
You'll have to pay your own earnings taxes, so will need to budget for that during the year. You'll also need to set aside some money for retirement, because not having an employer means no retirement plan.
Plus, if you get sick or injured you don't work, which means no money coming in. You're a private individual, so I don't believe you'd be eligible for unemployment compensation.
Yes, we need farriers, trainers, etc., but the hours are long, the pay is low, and there are no benefits. Those concerns are easy to dismiss when you're 20 y/o, but what happens when you're 50, have no retirement funds, and your body is getting worn out or you're traumatically injured?
It all sounds so fairy-tale to think you're going to be doing something you love, but when you're getting on in years and don't own a home and have no money, that fairy-tale turns into a nightmare. I've seen it happen more than once.