Building Wealth
Freelance Fran
Independent UX Consultant · Nashville, TN
Good months, bad months, and no idea how much to save for taxes.
About Freelance Fran
Fran left her agency job 3 years ago to freelance. She loves the freedom but hates the uncertainty. Some months she bills $12k. Some months she bills $4k. She has no employer 401(k), no health insurance subsidy, and no idea if she is saving enough for taxes. She needs a system.
Financial Snapshot
$70,000–$110,000 (variable)
Annual Income
$90,000
Net Worth
33
Age
Freelance Fran's Story — 2 Chapters
The Quarterly Tax Shock
Fran's first year freelancing, she owed $18,400 in taxes she had not saved for. Now she is building a system. She models her effective tax rate across different income scenarios and calculates the exact percentage to set aside from every invoice.
Uses: salary-jumpThe Solo 401(k) Decision(Coming soon)
Fran learns she can contribute up to $69,000/year to a Solo 401(k) — far more than a traditional employee. The model shows what maxing it out does to her retirement timeline.
Uses: fire