re: What’s better. Working for an employer or having your own business?

I have not worked for anyone officially since 1991 but I do answer to customers, bankers, suppliers, insurance companies ect.

It is more risky working for someone else, IMHO, than working for yourself because when you work for someone else you are not making the ultimate decisions that keep the job going.

It is sad to see 50 year old career men lose their jobs in mergers or shut downs or restructures..

All that said most people cannot run their own business. They are not willing to make the sacrifices and put the time into it. They have built their lives around a salary and are not willing to step down in terms of lifestyle spending to build a business. I still only pay myself like $70K a year in salary. When I first started in the nineties there were plenty of months I did not take a salary. I am very fortunate and have some nice non salary income from the business but it took several years to get to that level.