EP 205 | Wealth is the Goal with Kimberley Seldon
January 19, 2021
2,040 hours a year is the typical full-time work week. If you are bringing home a salary of $30,000 for your full-time work as an interior design professional, you are making minimum wage. Can that really be enough compensation for the hard work you do? Absolutely not. Particularly not when wealth (not income) is the goal.
In this episode we learn:
- $30,000 for full-time work as an interior design professional is minimum wage
- pay yourself first and you will be alerted to what needs to change in your business model
- salary is the first step in a viable business model
- profit comes after all expenses, including salaries, are paid
- wealth is the goal
- accumulated wealth allows you to retire when you want
Pay yourself first.
Legal Disclosure | This podcast is for educational purposes only and should not be used for any legal decisions. Kimberley Seldon Design Group, Kimberley Seldon Productions Inc., Kimberley Seldon Design and Media, Inc., Business of Design™, or any of its affiliated companies or staff is not responsible for any errors or omissions effecting accuracy in any content, and they will not be held liable for the use or misuse of information, facts, details or any other aspects should there arise any defects, errors, omissions or perhaps inaccuracies. Extensive research has been conducted to put this podcast together for the purpose of educating our industry in order to better serve the public. Care has been taken to acknowledge ownership of copyrighted material. The advice and strategies contained herein may not be suitable for every situation. This work is offered with the understanding that we do not render any legal, accounting or other professional advice. Seek the advice of a lawyer and/or other competent professional person in all matters of law. Further, listeners should be aware that internet websites mentioned may change or disappear between when this was recorded and when it was listened to.