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Taking Your Income for Granted

Reflecting on his self chosen lack of employment income, Sam from Financial Samurai asked his readers the question “Do You take your income for granted?”  the responses he received are fantastic and really got me thinking.

As I read the post and all the comments all I could think is that, he (and his readers) may have inadvertently nailed why I think I have the business/investment risk tolerance of a 83 year old widow.

My Current viable streams of income are:

  • My job
  • Wife’s Income
  • Online Company (which includes this blog plus 8 or so other co-owned sites)

All of these streams of income are at the whim and control of another.

I think that is the reason I do not take any income for granted.  I also think building diversity will lower the black swan event of everything turning on me at once.



  1. Maybe you do “have the business/investment risk tolerance of a 83 year old widow”, but she’s pretty spry to have a blog.

    I’m with you though – the more money I make, the less I take for granted, heh. Just because you’re paranoid doesn’t mean you’re wrong!

    • 83 is the new 30!

      “the more money I make, the less I take for granted”
      – I think it has to do with the fact that we rely on it more?

  2. I think you’ll also find out that you need less than you think to survive and be happy.

    I’ll write a retirement update post after I come back from Europe in September.

    Google is inherently good imo. Nothing good will stay down for long as a result. Hence, I wouldn’t worry about Google, and just focus on the content.

    • “I think you’ll also find out that you need less than you think to survive and be happy.”
      – I agree that if I had less I would just be as happy, but that transition downward would be VERY difficult

  3. I’m glad you don’t take any of it for granted. This recession really has shown people they can’t rely on what they thought they once could.

  4. Coming out of college in 2009, when it was pretty hard to find a job…and then the effects of starting with a lower salary and seeing all of my friends take jobs that they never even thought they would accept has definitely impacted my way of thinking in terms of taking things for granted. I’ve learned to appreciate what I have, no matter what happens to me in the future, and to always stay humble.

    My apologies for not knowing you were a lawyer 😛 I haven’t really read into many people’s about me sections. Now that I have a ton of homework and reading to do, I doubt that will happen…maybe in the summer! But I’d really like to know more about your experience, such as…will this continuous reading for 5-6 hours everyday and stress ever wear off?? :[

    • We are about 6 years apart and I really think the past decade and a half has really shaped our generation (maybe even for the better).

      From my experience, 2L was more work but you were used to it so you could finish it up quicker. My third year was a LOT less stress. While I did alright my grades took me off the big law track pretty early on (and now I look at that as a positive at this point in my life)

  5. I try to never take anything for granted. No income is really foolproof. That’s why we’re working to diversify into real estate and other ventures. It is hard to do everything at once though.

  6. When things are going well, that’s when you need to expand and look at other streams of income. The odds of everything bad happening in a short span is very unlikely, even if G penalizing is possible (and probable?) eventually.

    • I think you are 100% correct. I really want to diversify and either look into an investment property or laundromat after the new house purchase since I don’t know what that’ll do to my capital

  7. I’m not sure I would say I take my income for granted but I do sort of have an expectation that I should be able to find a new job or keep the one I have. I know this isn’t always possible in this economy but I am pretty flexible about my work requirements. So, I guess you could say I take my employment potential for granted. I have never had to be unemployed and hopefully won’t have to go through that.

  8. While I’m not a fan of most MLM schemes, I do respect their sales pitch of “multiple streams of income.” I think you’re right on: it’s the only was to find security.

    • But are MLMs really promoting multiple streams of income? One would think you can’t do multiple MLMs at a time and they seem pretty time consuming as you couldn’t have another career

  9. Yeah, it can be tough to lose a big stream of income. After I retired, the paychecks stop coming, but we were prepared for that. We’ll be ok unless another stream dries us. That’s why it is essential to have more than a single income stream.

    • What percentage of your paycheck did you build prior to retiring? or did you do it solely on reducing expenses?

  10. I appreciate all of our income, especially in today’s tenuous economy. Change is a constant in life, and one never knows when the tides will change.

  11. I try to not take income for granted, though it’s easy to get in the habit of thinking things will stay as they are for the indefinite future.

    Diversifying income streams is so important because things can change quickly.

    I’m impressed you have this site PLUS eight more…would be curious to hear what the other ones are and how you built them up and whatnot.

    • I feel like that those that think things will always stay the same are usually just playing the joneses game.

      I don’t usually talk about the other sites here, but they are also PF blogs I have bought over the years.

  12. It sounds sick, but I’ve always operated under the theory that I could be fired at any minute (to some degree, that really could happen). Not only to you really appreciate your paycheck, but it also puts a fire in your belly to not be so dependent on your job by creating other streams of income.

    • I literally couldn’t agree more! I am reminded often that since I am a salaried employee at a firm that is in sales I am “expense”…they say it in jest (since I think I justify my salary in multiples) but still keeps me freaking focused.

  13. With a job loss that lasted 10 months, I know longer take anything for granted. Not my new job, my 12 year old car, or the small amount that I still have in my savings account.

    Each day is a gift…. and I enjoy each and every one!


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