The Benefits of Being Your Own Boss

Self-employment comes with extra flexibility—a trait that millennials prize—but it can also complicate your financial life.

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When I moved from Washington, D.C., to Las Vegas a few summers ago, I had to adjust to more than the scorching desert climate and the presence of slot machines at my local grocery store. My status with Kiplinger also changed from employee to contractor. In other words, I became self-employed.

A recent report from accounting-software provider FreshBooks predicts that the number of self-employed Americans could triple by 2020, with millennials leading the way. Technological advancements make it easier than ever to work remotely or start a business, and as your own boss, you have plenty of opportunity to shape a fulfilling career.

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Lisa Gerstner
Editor, Kiplinger Personal Finance magazine

Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.