Reply to Anyone here making well into the 7 figures range?

Forum Index » Money and Finances

Reply to "Anyone here making well into the 7 figures range?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Business owner here in the $5M+ take home range.

If your business is just taking off I wouldn’t make huge lifestyle adjustments as stability in earnings may not be guaranteed.

Take home from our business ramped from sub-$1m many years to $2.5 to now $5m+. We treat this like a nice bonus but aren’t building our lives around it. So yes there are some nicer things (vacations, meals out) but no new primary residence or big ticket changes.

We have friends who are also successful business owners and a lot of them went through a “buy stuff” one phase before dialing back as it didn’t really increase happiness.

If you are a lawyer banker doctor etc you can probably approach the budgeting in a different way. [/quote]

Most business owners go through cycles, though - my parents sure did, but they are in a cyclical industry.  They didn't start spending until they had zero personal debt - no mortgage, no car debt, enough money to put all kids through graduate school, and an emergency fund to last for at least 5 years.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics