Some numbers for new O/O

I probably read it wrong.

The way we work it in our house is we just don't get paid if we don't work that week or that month. So if I'm going to take time off then it can only happen if there is money in the personal account.

 

I strongly disagree with this statement. Mainly because it doesn't take into account the most valuable commodity any of us have. Time. That's the real cost that's most important.

We can always go out and earn more money. Money is easy to get. We can't get more time.

 

Real cost is still there. Time is also an 'expense' of sorts.

How much is 'time' worth? It varies by person, by family, by health, by many other variables as well.

You will balance Time vs. Money differently than I will.

 

No man laying on his deathbed ever says, "I wish I had spent more time working, accumulating financial resources and security..."

My best friend is a Chaplain for a large hospice care facility in N.C.

He has ministered to hundreds of people in their last stages of this physical life.

He told me that none of them has ever said they regretted NOT working more. However, when they do express regret, it invariably goes to not spending more time with family, spouse, children, grandchildren, etc.

In other words, lost time for the majority of them is measured by a relational component, not physical or monetary.

 

As a single person with no children, I have no difficulty with the idea of laying on my deathbed and saying that I wish I had worked harder, so I could have retired sooner.

Everyone is different. I like driving, so maybe that also fits into it. If you like your job, it's less of a burden.

 

This has got me thinking what I will say on my deathbed. Hmmmmm.........

Probably I wished I had partied more, never had a kid with that heifer, never blew all that money, never lived anywhere but the beach, never helped my ungrateful family. Plenty more

But the major one would be why didn’t I off myself before I got in this condition

 

I'm guessing your accountant wouldn't see it that way. I think it is quite reasonable to assume that you were doing something else that generated revenue while your truck was parked. If so, that offsets your "opportunity costs".

 

Sure, if you were generating net income greater than you could make while driving, then not driving would not be a cost.

Accountants, in my experience, like to deal with actual money numbers.

Business consultants, however, frequently deal with real costs.

I am sure there are exceptions to this, and most accountants could probably make a decent run at pointing out some hidden real costs in a customer's business, but normally that's outside their scope.

 

They're both right. But they say it different. "It cost me $3,000 a week while my truck didn't work", that's the business consultant. "For every week the truck was parked, I had out of pocket expenses of $600", that's the accountant.

 

No. That is not what I am referring to.

The accountant sees a week of no income as zero income and some expenses.

The business consultant sees a week of no income as zero income, some expenses, and a loss of potential income.

Accountants rarely give a #### about potential income because potential income has nothing to do with the real world bottom line.

Business consultants, on the other hand, are heavily invested in improving your business, so they look very hard for potential income.