Tip #5: Consider insurance and benefits.

The largest consideration here is health, dental and vision insurance benefits. More likely than not, your steady paycheck job provides you insurance and benefits. If you are single, or if you’re the provider of benefits for your family, then this is a HUGE thing.

Just to give you an idea…I did a quick search online and found that, for a family of four, monthly health insurance premiums in my area can run from a monthly premium of $151/month (with a $10,000 yearly deductible) up to $1243/month (with a $250 yearly deductible). Blue Cross Blue Shield’s (PPO) monthly premium was $546 (with a yearly deductible of $1,000). Again, this was just a quick search and was specific to my area…but I wanted to give you an idea…you’d need to research your own area, etc. Also ask your insurance agent about liability insurance for your business…if this is a concern to you.

And, say goodbye to paid vacation days. When you’re a VA, if you’re not working, you’re not making money. Finally, you need to consider liability insurance (as a small business owner), especially if you are a sole proprietor (when your business and personal assets are together)...talk to your insurance agent about your particular situation.