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
Last month Fran billed $12,000 and felt untouchable; this month she has invoiced $4,000 and is refreshing her inbox at 1 a.m. She traded agency stability for freelance freedom and got feast-or-famine income, no 401(k) match, no employer health plan, and a quarterly tax bill that already blindsided her once for $18,400. Her annual income looks great on paper — the problem is that she does not live annually, she lives month to month, and no two months are the same.
Financial Snapshot
$70,000–$110,000 (variable)
Annual Income
$90,000
Net Worth
33
Age
Freelance Fran's Story — 6 Episodes
The Agency Offer
Fran's former agency offers her a full-time role at $115k with benefits. She models the real comparison: freelance at $90k average with Solo 401(k) and HSA vs. salaried at $115k with employer 401(k) match and health insurance.
Uses: salary-jumpThe Retainer vs. Project Debate
Fran has two types of clients: project-based ($8-12k per project, unpredictable) and retainer-based ($3-4k/month, steady). She models the financial impact of shifting her client mix from 80% project to 60% retainer.
Uses: salary-jumpThe Health Insurance Maze
Fran is paying $540/month for a marketplace Silver plan with a $4,500 deductible. She models three alternatives: a Bronze HSA-eligible plan, joining a freelancer union group plan, and going back to an employer for benefits alone.
Uses: fireThe Income Smoothing System
Fran's income swings from $4k to $12k monthly. She builds a system: a business checking account, a tax savings account, a personal draw, and a profit buffer. The model shows how to turn variable income into predictable cash flow.
Uses: emergency-fundThe Solo 401(k) Decision
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: fireThe 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-jump