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Personal Cashflow Advice

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Anything related to investing, including crypto

MapsandMeanings

New Contributor
May 31, 2017
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41
Florida
I wanted to seek out some advice as my limited scope and knowlege only gets me so far.

In short, my wife and I both work full-time jobs. We are also slowing building our businesses on the side.

With two children (in private school) and the typical mortage and monthly expenses, we find ourselves almost each month in a tunnely of just making it.

On paper, we seem to be fine. Net worth of close to $800,000 if you were to add up all the investments and assets.

My question is if you were me and were tired of just "evening" out month after month, what would you do in an effort to increase the monthly cashflow?

Thank you for the advice.
 
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Tiago

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There's a wonderful segment in Mike Michalowicz's book Profit First where he advises you to negotiate everything.

Get all your expenditures, from your subscriptions to health insurance, phone service provider, accountant etc... and call each one of them negotiating a better raise.

By doing this, I was able to get almost 10K back per year. Plus it's good practice for your negotiation skills.

Might be useful to you.
 

MJ DeMarco

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I wanted to seek out some advice as my limited scope and knowlege only gets me so far.

In short, my wife and I both work full-time jobs. We are also slowing building our businesses on the side.

With two children (in private school) and the typical mortage and monthly expenses, we find ourselves almost each month in a tunnely of just making it.

On paper, we seem to be fine. Net worth of close to $800,000 if you were to add up all the investments and assets.

My question is if you were me and were tired of just "evening" out month after month, what would you do in an effort to increase the monthly cashflow?

Thank you for the advice.

$800K would seem to indicate you are doing more than "evening out" -- or are these assets non-cash and unrealized, like crypto, housing, and other stuff? How was that acquired if you are just barely making ends meet?
 

MapsandMeanings

New Contributor
May 31, 2017
35
10
41
Florida
$800K would seem to indicate you are doing more than "evening out" -- or are these assets non-cash and unrealized, like crypto, housing, and other stuff? How was that acquired if you are just barely making ends meet?
Non-Cash/liquid.

That 800K is comprised of housing (about 200,000), stocks, funds, 401Ks, etc.

That was built in our younger years pre-kids and when we had better paying jobs and there has also been some inheritance as well.

Thanks for the feedback.
 
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Johnny boy

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May 9, 2017
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Grow the business. Don't be afraid of pulling out a piece of your equity to fund growth if it is done intelligently and knowing your risks.

If I had 800,000 in assets, I would take money out and put it in my business. Having an extra crew working nets me nearly 70,000 of profit EACH crew per year and continues into future years as well. For me it's a no brainer. For you, well it depends on your business.

Realistically if 800k worth of investments and property landed in my possession tomorrow, I would pull equity out to get a down payment on a more legit commercial location for my business, get an extra customer service person and then buy 3 trucks and trailers. I would go signup over 300 new customers this next spring (3 a day for 120 days or so). Our revenue would be at 900k a year and 400k profit minimum from then on. I would be in a wonderful spot to open up another location and continue to add more customers to our primary location next spring. From there the sky's the limit. It would shave a few years off my plan.
 

jdm667

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You and your wife should both ask for a raise at your jobs. Inflation is high right now, and it is an employee's market at the moment. So, you have a lot of leverage to ask for a good raise.

If your income/spending is at the "breakeven" point, a small increase for both of you would give you some breathing room to focus on your business ventures.

With that said, I agree with @Johnny boy that growing businesses is your best long-term play for cash flow. What is holding you back at the moment - do you need cash to get going?

If so, consider a 401(k) loan (up to a 5-year term) to get your business up and running. As long as the money generates a higher return in your business than in the stock market, it is the right call.
 

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