Landmines and Lucky Breaks: The Pros and Cons of Working at Home

It is one of the paradoxes of life that, at times, something we have to do looms in front of us as a ghastly chore. Then, by some quirk of fate, things go smoothly, and we end up telling ourselves that it wasn't too bad after all. This happened to m when I set about assembling a shoe rack that came with several assorted plastic pipes and ten flat cross-pieces.

There can also be something we need to do and look forward to doing, because we will meet a challenge and end up with a favorable outcome. This was the way I felt about looking for work to do on my home computer, but I was dead wrong.

Your Two Major Choices

If you want to work at home, whether on a full- or part-time basis, you will find that you have two basic options. You can either work for a client (or several clients) as an independent contractor or start your own business, becoming an instant entrepreneur. Taking either step is appealing because you will be your own boss, the time and expense of commuting will be eliminated, and your daily schedule will be more flexible.

If you opt to work as an independent contractor, you will discover that reputable companies will pay well for your services, often more than they pay their own employees, because they do not have to provide benefits or unemployment compensation, or withhold various taxes for you.

At the same time, independent contractors are among the first to be cut when layoffs occur. You will have to fund your own sick leave, vacation time, and retirement account, and be prepared to buy your own health, disability and life insurance, unless you have adequate coverage through your spouse or can purchase them as a member of a professional organization.