Money Lesson
Couple
Couple
One steady income, one risky one
He can earn the same freelancing as he does on the payroll, and the second salary at home makes the leap survivable. Here is what the same earnings are worth once there is no employer behind them.
Employment
Self Employment
ISA
Investments
Savings Account
Property
Expenses
2 Goals
The same earnings, billed rather than paid, with no employer behind them.
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Employment
ISA
Investments
Savings Account
Property
Expenses
2 Goals
Nothing changes; two payslips, two workplace pensions.
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One of us goes freelance
Both stay employed
Both stay employed
Doing the same work for the same money without an employer behind it leaves this household ~£25k poorer, and nearly all of it is the pension contribution that used to arrive without being asked for.
