Why you are underpaid


Morning

Lets use example of a bank CEO, salary is made up of 

.10 to 30M Rands per year 

.has bonuses

.and shares

Another example is Basson who got 100M rands bonus when he retired.  For a practice it is slightly different but should follow same pattern

.salary from 1 M Rands min per year

.ie what you take home not what you make

.plus time off from practice so that you can do other things 

.dividends end of financ year. 

A descent salary for anyone over 5 years in practice is 100 000.00 before tax for one to be able to pay 

.x2 private school fees...15k min

.x2 cars....20k 

.Bond...20k

.taxes and med aid...15k

.groceries....4k

.retirement annuity...15k pm

.others 5k pm

If you are only making 100k pm then how do you pay the above and pay your rent, your staff salaries, consumables, retirement annuity

Anyone making 100k pm and have a family and coping financially please shout I need a word with you in private. I want to use how you are coping in my teachings

Once more, it is not what you make that makes you poor or rich ...it is what You SPEND

Give yourself a salary eg 100k pm but make sure you make more to pay other practice expenses. Seperate your practice expenses from your personal expenses...cars and houses wont reduce your taxes is a myth. STOP PAYING PERSONAL STUFF FROM BUSINESS ACCOUNT why

.cause it decreases value of your practice, day you want ro retire and sell personal expenses will make the prac valueless as the profit you claimed to be getting minus personal expenses will drive down the price. If you want to upgrade or increase overdraft bank wont approve if expenses are mixed with your lifestyle expenses. Give your self a salary 100k pm and move it to your own personal account 

DNI Business challenging the status quo we have made it possible for drs we saw this year to earn a decent salary. We managed to make over 20 DNIpreneurs 

Www.drnkhumeleni.co.za


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