One of the things I love about helping people add another income to their life is how simple the math is.
I help people create offers to share their knowledge with people who need it the most. But what I love is the impact on people’s life from a "time" and 'living" perspective.
A conversation the other day went like this...
Say you earn $100k/yr gross after running the whole household including taxes, kids, etc. How much is left over? Let’s say $5k net.
Now let’s double that income to $200k/yr thought additional or more leveraged time income serving more people. Let’s keep all expenses the same except tax. It obviously increases.
Let’s say for the additional $100k there was an extra $35k in tax and super etc. Rough numbers... So, after earning an extra $100k you have an extra $65k net.
Now your total net is $70k because your expenses (except tax) stayed the same. So, your net has gone from $5k to $70k which is 14 times the net.
Another way of putting it is by taking your gross income from 100-200k you have multiplied your profits by 14 times. Or another way of putting it, you would have netted the same in 1 year that would have taken you 14 years to achieve.
Therefore, you just leapt 13 years forward in savings. Then compound that excess over time too.
We all have a baseline expense to operate our lives, anything over that is profit. Profit give you time, peace of mind, and choices. And imagine if the income was products not services, serving a group of people so your time is leveraged and many people can afford to be your customers.
Everyone wins! How would you spend that extra time? For me... it’s the ocean!
Have a listen to these whales the other day... The magic and beauty of nature..