Who is actually taking on more risk?

The employee with the job at a reputable company?

Or the freelancer with multiple clients?

In the short term, the freelancer. In the longterm, the employee.

As a freelancer gets started they are taking on risk by taking a leap into the unknown. But as they become more established the risk becomes less. They might lose some clients one month and gain more the next month. Their income is more volatile, but over the long run more stable.

The employee has the illusion of a ‘steady’ job. But it’s likely their only or main source of income and losing it would be devastating. In other words, highly risky.

I think the our society is starting to understand this. That’s why more and more people are creating ‘side hustles’. And having employees that have a side hustle is becoming more and more acceptable.

At the end of the day we are all self-employed regardless of what our tax slips say.