Difficult Conversations About Money and Being Self Employed

Reblogger Brian England
Real Estate Agent with Arizona Focus Realty SA634540000

Gayle Rich-Boxman Fishhawk Lake Real Estate is such a sweet woman and I have enjoyed her posts for many years!  Conversations about money and being self employed are always tough.  Real Estate is such a roller coaster of a career.

Original content by Gayle Rich-Boxman Fishhawk Lake Real Estate 700512026

One of the toughest parts of being a REALTOR® is that you never know when you're going to make money or when you're going to have a dry spell. 

 

If you're a financial wizard, or really mindful of "saving", and sticking to a budget, then this part of life probably offers you more peace-of-mind than it does for the rest of us who struggle with money and the conversations that ensue.

 

Some of the most difficult conversations people have with their partners-in-life are about money. Putting money away, paying your bills in  a timely manner, saving for the unknown future crisis. Quarterly taxes is one of those bailiwicks that I struggle with. When I get paid on a transaction, the first thing I want to do is pay my bills. It gives me such a sense of relief. If money's left over, it's a boon. The formula that our tax consultant has given me, is to put a third away with every commission received to pay quarterly taxes. Then there is the conversation about how to protect your money, so that you are paying yourself and saving that money for your future retirement safely without it being taxed. 

 

Having lived much of my life as an artist, money was never at the top of the priority list. Often my friends have heard me say it this way, when regarding my relationship with money:

"Oh, I have money! Great!" As if it's one of those surprises that sneaks up on you and is totally fabulous for as long as it lasts. I bet other artistically-minded folks will nod their heads in agreement. 

 

So, how do you juggle not knowing how long it will be without money flowing in monthly? My niche market is based on a mostly-vacation-home business, although I do sell properties during the winter months, but there is no routine to this at all. I have a certain amount of angst when I don't have a cushion for an extended period of time. Striking a balance is somewhat of a moving target. As I get older I want to create a foundation of comfort so that if (at this point it's not when, but if) I decide to retire I have choices that make for a balanced life. 

 

I'm interested to know what others do to create a semblance of peace while working hard and often "for free". 

 

One thing I would love to see offered is a class for REALTOR®s  about how to prepare your finances to have something for the lean times. Not being naturally good with money, I would enjoy being given direction directly related to what I do. 

 

 

We need the tonic of wildness~Thoreau

For a look at my Fishhawk Lake Real Estate WEBSITE, 

Click here: Fishhawk Lake Real Estate

For a look at what fun you can have at Fishhawk Lake, click on the link below! 

 

http://www.youtube.com/watch?v=-N20w1bP2UA&feature=youtube_gdata

OR 

Visit my YouTube Channel for videos of wildlife at Fishhawk Lake!

 Fishhawk Lake canoe trip-Gayle Rich-Boxman 2012 copyrighted All Rights Reserved

Gayle Rich-Boxman
Broker,John L Scott Market Center
Specializing in
Fishhawk Lake Reserve and Community 
"Your Gateway to the Lake!"
Direct: (503)755-2905
My website: http://www.lakehomesatfishhawk.com/
My blog: http://fishhawklakerealtor.wordpress.com/

John L Scott Market Center  

                         

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Rainmaker
3,522,487
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Brian. Gayle is a favorite of mine and this post is very telling.

Aug 22, 2018 06:52 AM #1
Rainmaker
1,846,938
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Brian - Gayle really makes some good points especially for those wanted a mortgage.  Many self employed can do an S Corp and then set up payroll through a service to pay themselves each month.

Aug 22, 2018 06:58 AM #2
Rainmaker
2,447,289
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Good morning Sheila Anderson , she is wonderful and I love her photography too!

Aug 22, 2018 07:34 AM #3
Rainmaker
2,447,289
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

When I saw the title Grant Schneider , qualifying for a mortgage is what I first thought of.

Aug 22, 2018 07:35 AM #4
Rainmaker
3,977,611
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I try to keep a reserve of 6 months for he lean times.  They can be impossible to plan for

Aug 22, 2018 08:43 AM #5
Ambassador
1,341,948
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

You're so wonderful, Brian! Thank you a great deal for sharing this and opening up the conversation, yet again! 

Aug 22, 2018 09:18 AM #6
Rainmaker
3,066,362
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Brian England,  How did I miss this one the first time.  It is excellent in its content.  Have a good friend.

 

Aug 22, 2018 09:24 AM #7
Rainmaker
2,447,289
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have been trying to build up that kind of reserve for quite sometime William Feela , but it seems that the tax man always takes a bite, haha.

Aug 22, 2018 02:07 PM #8
Rainmaker
2,447,289
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You are very welcome Gayle Rich-Boxman Fishhawk Lake Real Estate , you are the wonderful one though!

Aug 22, 2018 02:08 PM #9
Rainmaker
2,447,289
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I haven't seen Gayle in the Rain very often these days, so when she posts something, I am sure to read it Will Hamm 

Aug 22, 2018 02:09 PM #10
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Brian England

MBA, GRI, REALTOR® Real Estate in East Valley AZ
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