In the US, you're already paying half that 15% anyway. You pay the additional half being self-employed, but it's also a deductible expense.
The biggest adjustment people need to make is keeping track of the financial aspect in general. It's not that hard, but you need to keep an eye on it. Make estimated tax payments quarterly, don't spend more than you make, keep extra money in reserve, etc.
Also, as I wrote elsewhere, I'm paying $300/month for health insurance for my wife and I. That's close to what was being deducted for my group plan when I was employed (it's a bit more, but not that much more). Yes, we're fortunate as we're both in decent health, but we've also chosen a moderately high deductible plan, which keeps the premiums lower (though they still keep going up insanely every year).
I've not done it yet, but as a self-employed person, you can set up a SEP-IRA (I think that's it) and some people manage to sock away much more in a SEP than is allowed in traditional Roths or 401Ks. If you've got it and can save it, that's decent deal.
I will say $90k as self-employed vs $45k employed is a pretty big difference, even factoring in the tax/benefits diffs. But I don't normally see that much of a difference in skill levels and income. SR devs I know contracting may be making $120-$150k, but as an employee might only be around $90-$100k. That's a difference, but not a 100% diff.
In the US, you're already paying half that 15% anyway. You pay the additional half being self-employed, but it's also a deductible expense.
The biggest adjustment people need to make is keeping track of the financial aspect in general. It's not that hard, but you need to keep an eye on it. Make estimated tax payments quarterly, don't spend more than you make, keep extra money in reserve, etc.
Also, as I wrote elsewhere, I'm paying $300/month for health insurance for my wife and I. That's close to what was being deducted for my group plan when I was employed (it's a bit more, but not that much more). Yes, we're fortunate as we're both in decent health, but we've also chosen a moderately high deductible plan, which keeps the premiums lower (though they still keep going up insanely every year).
I've not done it yet, but as a self-employed person, you can set up a SEP-IRA (I think that's it) and some people manage to sock away much more in a SEP than is allowed in traditional Roths or 401Ks. If you've got it and can save it, that's decent deal.
I will say $90k as self-employed vs $45k employed is a pretty big difference, even factoring in the tax/benefits diffs. But I don't normally see that much of a difference in skill levels and income. SR devs I know contracting may be making $120-$150k, but as an employee might only be around $90-$100k. That's a difference, but not a 100% diff.