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To take a very simple example, when you are living off volatile cash flows and managing “personal” and “business” investments dynamically in a mixed way, all those retirement planning calculators are useless. You have to be constantly be deciding whether a cash surplus goes into your retirement account, or whether you’d be better off investing it in growing your business in some way. What’s a better bet? An insight you have about Netflix stock, or an idea for an app you can work on? In the paycheck world, you never have to choose between those sorts of options. They are generally sealed off from each other.
Now that D is into her last couple of weeks of “steady paycheck” work and into her first few weeks of “volatile cash flow” entrepreneurial venture, I think we’ll have a real good opportunity to understand this to the hilt. More on this in the promised upcoming series.
PS — If you want to read a book that tests the very boundaries of your imagination, here’s one. Expensive but is of exceptional quality. Think of it as an investment in furthering yourself.
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.