money


CEO:

You know, money isn’t why I took this job.

Walt:

Yes, but money is important.

And since you have the type of position where you'll have to somehow provide for your own financial security, you need to be sure you can earn enough to live today, and have money for tomorrow too.


CEO:

Look, what say we let tomorrow take care of itself. I have to keep as much money as possible in the business.

Walt:

Yes but not to the detriment of your future.

Most of the people who work for you will be provided for when they stop work or retire. You are going to have to provide for yourself.


CEO:

But I don’t think I’ll ever retire.

Walt:

Perhaps, but that doesn’t negate the need to save for your life beyond work.

The odds of you having this job until you die are low; whereas the odds of you outliving this job are high.

You and your family will have financial needs hopefully for many years. Why not plan for that?


CEO:

But without enough investment, the business will die.

Walt:

There's a balance, certainly. Only, investing in the business to the detriment of your family and your old age, is insane.

As part of both your business and personal long- term planning, you must include a mechanism to save and invest money toward real financial security.

Furthermore I think your the nest egg should be separate from the business.


CEO:

I don’t know if I can do that.

Walt:

You can if you plan for it. And in case you haven’t noticed, the people who have real financial security are having a very different life experience than those who don’t.

CEO:

All right, prove it to me: where do we start?

Walt:

Let's start by looking at the financials for the last three years...