4.6 • 682 Ratings
🗓️ 26 June 2025
⏱️ 9 minutes
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0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. |
0:06.0 | Is it appropriate for me to ask an employee about their personal finances, try and dig into it to understand what to pay them in the situation that I did buy this person's book of business in exchange for them having a job, steady income. |
0:23.1 | All right. Before we dive into that, and I'll defer to George on this one, but I'm curious, |
0:28.9 | is there not a market value range of salary that you already aware of? And then are you asking |
0:35.7 | this question in the context of that? In other words, |
0:38.5 | you know the range of what the market says you should pay somebody with his or his or her |
0:44.0 | experience and skill, or are you just sticking your thumb in the air? |
0:48.8 | So I have a general idea, and it's a lot less than what they're getting paid right now. |
0:55.0 | Um, but I also know that they're, have a lot of personal debt from their business line that we purchased. |
1:03.0 | Um, I know the person has a friend, you know, now we're just work colleagues, you know, |
1:07.0 | or there's not really too much friendship, But the answer is I do know. Okay. |
1:11.4 | It's kind of a struggle to keep a good workplace and make sure that they are in a sense |
1:17.9 | taken care of also because I'm, you know, I'm weaning them off right now. I'm weaning them off |
1:21.6 | being used to be able to live frivolously. When you said you bought the book of business, |
1:27.1 | did you write them a check? |
1:29.8 | How did that go down? |
1:30.5 | No, so I actually acquired it for free. |
1:32.3 | So it's actually we had a document drafted that pretty much gave us the book of business |
1:37.8 | in exchange for their employment guaranteed for six months. |
1:42.1 | What do they get out of this? |
1:44.2 | So they get a job, essentially. |
1:46.2 | They get a job. |
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