Contracting and Property Market similarities

[Dow Jones]

I am prompted by the large no of threads about property ups-and-downs and also by the huge amount of newbies posting here and asking if contracting is right for them.
Enter the property market when it's up and you can make decent money, do it when it's down and you'll lose. Same with the contract market.
I'd say it's all about timing, like most things in life. You've got to do things because YOU want (or need) to, not because a lot of other people do the same. It's OK to jump on the bandwagon as it gathers speed (when a few people are on it), but not as it starts to slow down (when it's full).

[beercohol]

These newcomers are often the anti-contracting permies who were jealous all along but wouldn't admit it.

Either that, or they're not! Hah. Flame me now, contrarians!

[Dow Jones]

Agree

Once a permie, always a permie, I'd say. It's not that they can't hack it (some of them are just as good), it's the permie mentality that is 'embedded' in their heads.

[Tingles]

There's alot more to contracting than just 'getting loadsa dosh'....

It means you have to think for yourself, act like a 'proper business', perhaps travel hundreds of miles to find customers and have meetings to bid for business.

Be prepared for bad times, self fund training, allow for holidays and sickness.

The rewards are good but you shouldn't get into contracting just on the material benefits alone.

It's something that should not be taken lightly...



T

[BrilloPad]

I am prompted by the large no of threads about property ups-and-downs and also by the huge amount of newbies posting here and asking if contracting is right for them.
Enter the property market when it's up and you can make decent money, do it when it's down and you'll lose. Same with the contract market.
I'd say it's all about timing, like most things in life. You've got to do things because YOU want (or need) to, not because a lot of other people do the same. It's OK to jump on the bandwagon as it gathers speed (when a few people are on it), but not as it starts to slow down (when it's full).

But the propert market only goes down occasionally - unlike contracting where you get 7 good years followed by 3 rubbish years.

[beercohol]

Once a permie, always a permie, I'd say. It's not that they can't hack it (some of them are just as good), it's the permie mentality that is 'embedded' in their heads.

Yes and that sickening self-righteousness. Not to mention the same old circular arguments about tax. The growing frustration in their voice when you floor their unconsidered opinions with good reasoning...

[AlfredJPruffock]

What property downturn ?

Shirly shoom mishtake ?

Halifax said prices in Scotland were 5.3 per cent higher in the first quarter ...

[Xenophon]

I've been contracting for many years and I find it a right laugh. Trained seals could do it.

[AlfredJPruffock]

Yes and that sickening self-righteousness. Not to mention the same old circular arguments about tax. The growing frustration in their voice when you floor their unconsidered opinions with good reasoning...

The do-gooders are the thieves of virtue

Best strategy is to explain that youve been stung for a massive amount of alimony and all your dosh is going to a gold digger ... that will leave them with a sense of smug satisfaction.

[Dow Jones]

Not so sure

Works out as a sort of a 7/y wheel turn (good to bad)
Property up: 1985-90 - Property down: 1990-1999
Property up: 1999-2008 - Prop. down: 2008-2013 (?)
Contracting good: 1996-2001 - Contr. bad: 2001-03
Contracting good: 2003-2008 - Contr. bad: 2008-10 (?)