How to Invest When Your Income Changes Monthly

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 20 January 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you work in sales or a similar job where your monthly pay fluctuates, how does that impact your investing habits? We'll walk you through that question and more in today's Q&A episode! Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Check out our course, Know Your Number! - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -Instagram -Twitter -Facebook -TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,
0:07.0	investing, taxing.
0:09.0	You've got financial questions, he's got financial answers.
0:12.6	It's Brian Preston, the money guy.
0:15.6	All right, Dane has a question.
0:18.2	He says, what advice would you give to individuals for saving and investing when their profession
0:23.6	is in sales and where their income can fluctuate month to month?
0:28.4	They'll save 25% regardless of income.
0:32.6	So this one was Daniel.
0:33.9	Dane.
0:34.9	Dane.
0:35.9	Dane.
0:36.9	Dane.
0:37.9	So it's not uncommon.
0:38.9	We have a lot of clients who work in industries and maybe they're in sales, so they
0:44.2	fluctuate or maybe they just get paid more based on company profitability and that sort
0:48.0	of thing.
0:49.0	So you see these wild fluctuations in income where on a month to month basis, the incomes
0:53.9	might not be all that impressive.
0:55.9	When you look at it on the annual because these big bonuses or these quarterly bonuses,
0:59.7	it can get out of whack really quickly.
1:01.7	Well, one of the things that we do when someone becomes a brand new client is we prepare
	...

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