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We often talk about the challenge of income creation as entrepreneurs, and I hardly ever hear someone talk about how much money is enough.
I do hear a lot of people decrying how much famous actors make, and I wonder where each critic would draw the line between too little and too much. And…how much is just enough.
Everyone’s amount is different, so here’s a simple math equation to help you figure out where to draw your own line.
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Hope this helps!
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Awesome stuff. David, your videos always make me think.
To answer your question……I’m happy with a being able to pay my bills, have a little bit extra to do something fun with the family and having work each day to be proud of ie: working for conscientious companies and fun projects with colleagues in the industry.
Surpassing my potential makes me feel successful. Accomplishing something I wasn’t sure I could accomplish makes me feel successful. Making enough money to pay the bills and have money to play with makes me feel financially secure, which is not the same as feeling successful, at least not for me. Thanks for the video David.
LOVE the Math David. I grumble at what clients quote for a project, BUT, I have found my passion and love the mic. I did have a Corporate On Air Radio job for decades, but transitioned into Voice Acting with training and coaching. I embrace “making less” for doing what I love…..it’s a big trade off, yet I know I am worth more..so it’s time I crunch my numbers again. :).
I like working for myself so much better than a 9-5. I can make my own schedule, my own prices, my own life. Sometimes it is great, sometimes it’s harder but I really enjoy it. I like to be free with my time. If I want to record at 2 AM I can. I couldn’t do that with a 9-5 job.
I’ve really been enjoying your YT series, David. I usually watch on my Apple TV last thing before bed, so I’ve not been commenting, but I’ve so appreciated your geeky attention to things like the Levenger notebooks and tech ideas–I’ll have to go back and drop a line on some of my favorites. I’m actually at my computer to comment on this one because I’m curious about how you calculated $35/hr as $100k in earnings on 2000 hours billed. My math says $50/hr. It happens that I make close to $35 in my part-time day job, so I was particularly tuned in to this. LOL Keep up the great, useful work…and thanks for all you do.
As I say in the video, $50 per hour, minus your approximately 30% taxes, nets you $35 per hour.