How do YOU pay yourself?

We dont need to mention $$$ here but whats the deal on how you pay yourself?...percentage? set salary? you only pay wife?....dont have enough to eat whats pay?

No percentage no salary. I have a biz account and I pay for everything with that account anything left over I transfer to money market account.

I really should incorporate and take a salary. The self employment tax sucks and I think I would get some tax relief overall if I incorporate not to mention the reduction in liability of personal assets

I operate as an LCC and just cut myself a draw as needed, but I still hold a second job that pays for most of my personal needs.

Mo...when you say you pay everything with biz account...define everything, personal? or both personal and biz?



Mil...I think I caught wind reading somewhere you had a second gig...I couldnt do that unless you have sort of degree or something thats paying well with insurance and all.....I say that and here I am with a wife that has a good job and insurance.

My degrees are just paper (BA English / Film with Minor in Geology) and have little value except to the school that capitalized from it.

It has been my training as a Water Chemist and a Root Cause / Tap-Root Investigator that has been paying the bills. Basically, my job is to investigate events to identify the cause(s) and suggest steps to prevent it from happening again.

It doesn't pay all that well where I am, but the benefits are pretty good.....I just wish they weren't at times as I really would like to resign and free up my time.

Mil....how would a move (Myrtle Beach) influence the bill paying gig? I would really weigh out the $$$ and see what full time versus part time would mean...im sure you have, but thats where I get confused....you say it just pays the bills...a well managed full time carpet co could do amazing things.

I try to only use it for business only but It doesn't always work out that way

That is precisely my issue over the years, not enough time to push my business at the speed that I want, but worried about jumping into the abyss as well due to some chronic health issues....things blew up on me over health issues when I first launched the business and I can't seem to forget that.

A move to Myrtle gives me more time before the season slows up drastically. If I was to resign now, I would only have about 3 months left before things can get pretty slow around here.

I wrestle with this issue every day and every day I come to a different conclusion. In this area, jobs with this kind of benefits are very rare (4 weeks paid vacation, matching 401k, full medical / dental with very low deductibles, electricity discounts, and a few others), but the job itself is very stifling and prison-like in its hours.

Funny part is that I would actually be happy if they fired me....then the decision would be made.

If you need a little push off the cliff I would be more than happy to give you that push

One of the reason I got into this business is that I got sick of sitting behind a desk and working for someone else. I got to the point were I hated getting up in the morning and driving to work.

The freedom that this biz offers is priceless and I will do everything I can to never go back to working for someone else,

Life is way too short to go somewhere every day and be miserable. We're only on this earth for a limited amount of time why spend the majority it of not being happy.

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mil...I think it was you that mentioned a couple quotes in a pm not long ago!? My signature wasnt just a signature to sound cool....I really think To succeed in life, you need two things: ignorance and confidence.

Its holding you back in my opinion. The extra income could have you a nice employee who could take the steering wheel if you have any health issues. To me its just a gamble over the first year.

Devon07 wrote:mil...I think it was you that mentioned a couple quotes in a pm not long ago!?  My signature wasnt just a signature to sound cool....I really think To succeed in life, you need two things: ignorance and confidence.

"Ignorance and confidence".....I have too much of one and too little of the other.

I appreciate the push, I've been telling myself the same thingd every morning in the mirror and you should have heard Joe Bristor beating me up for the same a couple of months ago....he had me retired and fishing already.

That is part of why Myrtle is on the radar. If things didn't work out, I could go back to being a beach bum and sell tie-dye shirts or something.

Once the Bud truck is on the road, it will be decision time as I will need to take advantage of the extra truck.