Self-employed individuals work for themselves rather than for an employer. They run their own businesses or offer services independently, which allows them to set their own hours and make decisions about their work. Common examples of self-employed people include freelancers, consultants, and small business owners. Being self-employed comes with both benefits and challenges. On one hand, it offers flexibility and the potential for higher earnings. On the other hand, self-employed individuals are responsible for managing their own taxes, health insurance, and retirement savings, which can be complex and time-consuming.