Ready for Callin's question? He says I'm 37, I'm an attorney and 40% of my income comes in the form of a bonus. How do I budget for

homes and cars with this large bonus structure.

You know, Calvin, you may be surprised to find this out.

A lot of higher income earners live in this world where they have pretty inconsistent income.

Maybe they are in a sales position or a commission type position or maybe they get big bonuses or maybe they're self-employed they're entrepreneurial and they have these big like fluctuations in income and it does

become kind of hard because you know that we say we want you saving and investing 25

percent of your gross income and you say okay well I know what I'm going to make this year but

40% of it's going to come at the end of the year and I know how much I need to

save but I can't save that over the course the whole year how do I do it how do I

go about it?

And this is where you have to exercise one of the three ingredients of wealth

creation.

You really have to dive into the discipline part of figuring out,

okay, how can I save, how can I invest based off what I know is coming in, right?

So if I'm, you know, if 60% of your income is guaranteed salary or whatever, how can I build my lifestyle in such a way that the expenses I need to cover and the

savings I need to cover are covered by that 60%.

And then when that bonus comes in, what it allows me to do is true up my savings up to the 25%

and since I don't have to save all of the bonus because I was disciplined throughout the

year I can also use the bonus for other lifestyle lifestyle type stuff

that I see my clients do it that are able to do it successfully.

I agree. Let me just put a little color on this and the fact that I want you because you probably have

a base salary. I don't want you becoming so, as much as I love for scarcity, but I don't want you creating a savings plan that puts so much stress on your

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