How Do I Determine How Much to Pay Myself?

10:22
 
Share
 

Manage episode 231118926 series 1923829
By Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio streamed directly from their servers.

In episode 146 of Financially Simple, Justin looks at how much you should pay yourself.

Wants, needs, savings for retirement - all of these are what your paycheck goes towards. Justin breaks these down and recommends allocations to each, based on your personal income, so that you can afford the lifestyle you’d like to have.

ARTICLE TRANSCRIPT: https://financiallysimple.com/how-much-should-pay-myself-my-business/

TIME INDEX:

01:10 - How Do I Determine How Much to Pay Myself?

02:03 - Personal Budget

04:37 - What is a Dream Budget?

07:34 - Needs

13:42 - Fine Tuning

15:16 - A Tricky Balancing Act

16:43 - Summary

USEFUL LINKS:

Financially Simple

Financially Simple on YouTube

Financially Simple on Facebook

Financially Simple on Twitter

DISCLAIMER:

The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States. Host Justin Goodbread is a serial entrepreneur, CFP (Certified Financial Planner), CEPA (Certified Exit Planning Advisor), CVGA (Certified Value Growth Advisor), Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional.

158 episodes available. A new episode about every 3 days averaging 18 mins duration .