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If you’ve ever wondered what you should be doing with the money you make from your business, this episode is for you. In this episode, I lay out the order of investing that we take clients through when we are working on their tax planning and spell out in 8-steps how I would prioritize your money as your CFO!
Are you ready to pay yourself a 6-figure salary and build a 7-figure wealth portfolio? My Millionaire CEO Incubator program empowers six-figure entrepreneurs to get off the cash flow hamster wheel and start making wealth-building investments in business and in life. Visit Millionaire CEO Incubator to apply for my signature 6 month profit coaching and wealth-building program!
Links mentioned:
15: Stressed About Sales? Calculate Your Monthy Baseline Revenue So You Can Be Strategic
54: How I Would Pay Myself $50K, $100K, and $300K | Business Models That Will Boost Your Paycheck
33: So I once Had Over $55K in Debt…. My Personal Money Story
In this episode, you’ll learn:
0:00 Introduction
2:28 8-steps to allocate your cash
7:29 Why you should pay off high-interest debt
8:59 How much business savings you need
10:56 When you should start investing in a Traditional IRA, Roth IRA, or an HSA
17:27 When to make significant donations
Click here to listen to this week's episode!
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I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
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