I’ve exchanged some of the stress and risk in my life for a more comfortable situation.
At the end of October, as some readers have been aware, I relinquished my ownership of Consumerism Commentary. There was an announcement in the Wall Street Journal that I’ll link to below for those who are curious about some of the circumstances. Despite no longer owning this website, I am deeply involved in its operation, particularly from an editorial standpoint, though not limited to just the articles. I still write all the articles published under the names Flexo and Luke Landes and oversee and edit any content by other contributing writers such as Ellen Cooper-Davis.
Very little on Consumerism Commentary has changed or will change from a reader’s perspective due to this shift in ownership. It does change my immediate financial outlook, however.
Although little has changed about the way I work from day to day, I am technically an employee. This arrangement has benefits as well as drawbacks. I have better health insurance coverage than I had with COBRA coverage with my old employer’s plan, and it’s certainly better and much more affordable than I would have had with individual coverage. I don’t need to worry much about the effect of changes in a competitive marketplace on revenue because my pay check is consistent. Theoretically, a large company has the resources to grow this website’s presence larger and more quickly than I might have been able to accomplish on my own, and I can focus on more important things, like writing, without spending much time on other business matters.
On the other hand, I have ceded some of my independence and must now create a new strategy for moving to the next step in my life.
I don’t intend to go into much detail about the change in ownership, a change that has been in development for well over a year, but it is worth mentioning due to its effect on my finances in the future. I’ve used Consumerism Commentary as a way to share the details of my personal finances through monthly reports, goal sharing, and other articles wherein I discuss very personal matters, and I plan for this to continue. If I weren’t to mention this change, it would make it difficult for me to share my goals for the future in context.
I will offer my specific goals and resolutions for the new year soon, as I’ve done in many recent years.
You can read more about this on the official release on the Wall Street Journal, and I’ll have more to share from a personal perspective in the coming months.
Updated June 18, 2014 and originally published January 2, 2012.