Seems like the Financial Independence / Retire Early movement is getting a ton of press lately, and thought it seems like an effect of a booming stock market that the naive are buying into, it got me thinking about how financial independence relates to our profession.
Many of the most prominent architects working today were able to open offices young because of outside funds. It also colors who gets in to (or can afford) grad programs, unpaid internships, and more. I'm not here to debate whether this is just or right. More interested in everyone's experiences around this.
Did you build up a savings before deciding to open your own office? Just jump in?
Did you open an office with the help of family or inheritance? Work for someone who did?
Who has "fuck-it" money and do you feel that it makes you better at your job?
Wilma Buttfit
Jul 2, 19 4:58 pm
It doesn't cost much to start up an office. Need a computer, software, insurance, and business license. If there are clients, all of those expenses are minimal. Takes savvy. Money helps I'm sure. Jump in.
tduds
Jul 2, 19 5:05 pm
It's not so much the cost of the office itself, but the cost of supporting yourself with little or no sustained income for as long as it takes to get the office up and running (sometimes years, sometimes never) that makes it a difficult pursuit.
Wilma Buttfit
Jul 2, 19 5:28 pm
Totally. I do contract work for 4 companies to provide a base. It helps with a lot - income, skills, portfolio, network, putting up boundaries to bad clients. It's a nice place in-between for the time being and maybe forever.
Seems like the Financial Independence / Retire Early movement is getting a ton of press lately, and thought it seems like an effect of a booming stock market that the naive are buying into, it got me thinking about how financial independence relates to our profession.
Many of the most prominent architects working today were able to open offices young because of outside funds. It also colors who gets in to (or can afford) grad programs, unpaid internships, and more. I'm not here to debate whether this is just or right. More interested in everyone's experiences around this.
Did you build up a savings before deciding to open your own office? Just jump in?
Did you open an office with the help of family or inheritance? Work for someone who did?
Who has "fuck-it" money and do you feel that it makes you better at your job?
It doesn't cost much to start up an office. Need a computer, software, insurance, and business license. If there are clients, all of those expenses are minimal. Takes savvy. Money helps I'm sure. Jump in.
It's not so much the cost of the office itself, but the cost of supporting yourself with little or no sustained income for as long as it takes to get the office up and running (sometimes years, sometimes never) that makes it a difficult pursuit.
Totally. I do contract work for 4 companies to provide a base. It helps with a lot - income, skills, portfolio, network, putting up boundaries to bad clients. It's a nice place in-between for the time being and maybe forever.