Cranking up your 1040 numbers: what's the plan?

**Rain Man** · 04:39 PM

There will be a two-part poll coming up here. First, I'll ask your expectations of income increases over the next five years. Second, I'll ask about your key strategy to achieve those increases. You may feel free to expound with posts of your own authorship.

Required Notice: This poll was commissioned by another Chiefsplanet member. All proceeds (there are none) will be donated to a worthwhile charity such as a cheerleader bikini car wash.

JBucc · 04-16-2006, 04:30 PM

*********************************** definately

**Rain Man** · 04-16-2006, 04:34 PM

Quote:

Originally Posted by JBucc

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So are you inventing anti-gravity, or have you placed your bets on an increase in the Federal Minimum Wage?

**Rain Man** · 04-17-2006, 09:56 AM

One-time bump, since this is for a chiefsplanet poll client.

**Dave Lane** · 04-17-2006, 10:54 AM

Real Estate...

Dave

Fat Elvis · 04-17-2006, 11:32 AM

I'm amazed at how many folks seem to be expecting 7-10% annual raises the next five years......

**DaFace** · 04-17-2006, 11:42 AM

One possible problem with this poll is that I think there are quite a few planeteers that are students. As a student, I expect my income to increase like crazy over the next few years as I get a "real job." However, my expected increase isn't due to a raise or second job. I answered that I expect to "Get a higher-paying job," but I'm not sure that fully covers my situation. Maybe "train myself for a career that pays better" would have been a better choice. Oh well.

**sd4chiefs** · 04-17-2006, 11:50 AM

Energy stocks!

**Rain Man** · 04-17-2006, 12:04 PM

Quote:

Originally Posted by Fat Elvis

I'm amazed at how many folks seem to be expecting 7-10% annual raises the next five years......

Me, too. It's hard to sustain that over a five-year period.

That said, I estimated 10% annual growth for myself, but my situation is a little different. My company is growing, and I'm thinking that I'm about to hit the scale where I can start paying myself fair market value and also begin pocketing some profits. I've been running lean for a long time to get the company up and running, and I'm hoping I'm going to start getting that back in the next few years.

Either that, or business will tank and I'll go bankrupt. One or the other.

ct · 04-17-2006, 01:15 PM

Quote:

Originally Posted by Rain Man

Me, too. It's hard to sustain that over a five-year period.

That said, I estimated 10% annual growth for myself, but my situation is a little different. My company is growing, and I'm thinking that I'm about to hit the scale where I can start paying myself fair market value and also begin pocketing some profits. I've been running lean for a long time to get the company up and running, and I'm hoping I'm going to start getting that back in the next few years.

Either that, or business will tank and I'll go bankrupt. One or the other.

Well good luck with that, it's a brave endeavor on your own. I admire that!

What type of company you runnin?

**Rain Man** · 04-17-2006, 01:25 PM

Quote:

Originally Posted by coryt

Well good luck with that, it's a brave endeavor on your own. I admire that!

What type of company you runnin?

Market research and demographics. We're about to celebrate our seven-year anniversary. I was thinking that this year would be a good payoff year for me, but we won a bunch of contracts and ended up expanding our space again and adding a lot of new capacity. In fact, today is my first day in my new office in the expanded space. If it seems like I'm posting quicker, it's because my office is now about 20 feet closer to Kansas City.

ct · 04-17-2006, 01:32 PM

Quote:

Originally Posted by Rain Man

Market research and demographics. We're about to celebrate our seven-year anniversary. I was thinking that this year would be a good payoff year for me, but we won a bunch of contracts and ended up expanding our space again and adding a lot of new capacity. In fact, today is my first day in my new office in the expanded space. If it seems like I'm posting quicker, it's because my office is now about 20 feet closer to Kansas City.

That was quite a quick response! Do I remember right you're in Dungver area?

And that explains the polling mentality! I should have guessed...

**Rain Man** · 04-17-2006, 01:35 PM

Quote:

Originally Posted by coryt

That was quite a quick response! Do I remember right you're in Dungver area?

And that explains the polling mentality! I should have guessed...

We rule Denver. Denver is our domain, our oyster. We receive tribute from all of the peasants in this city.

**cdcox** · 04-17-2006, 02:48 PM

As a university professor, my income has two components: a 9 mo academic salary and a 3 mo summer salar. The 9 mo salary is guaranteed each year, and slowly goes up over time. I expect to get a promotion next year that will increase it by 10%, as well as put me in a catagory that would allow for larger merit-based raises.

My 3 mos summer salary can range from zero to 33% of my 9 mos salary and depends mostly on my ability to attract outside funding for my research. Last year I fully funded my summer (yeah!), this year I won't have any summer support (boo!). I plan to have at least 1 to 2 mos support over the next 5 years, which means that I've been and will continue to write lots of proposals.

**Iowanian** · 04-17-2006, 02:55 PM

Unless I change careers, well, jobs, I'm not expecting anything fabulous in wage adjustments.

In the mean time, I'm currently working my options to improve my capitol....takes money to make money.

I'm investing differently, this week actually, and will probably be taking a risk and buying into a startup renewable energy co...today. In the mean time, I'm considering buying a house at some point to improve and flip.....but not until the one I'm in is done. mama bear would growl.

At some point, you have to take some calculated risk to get ahead....and I'm standing on the edge of that cliff.

i'm also considering more and more, starting my own consulting company in my field.

View Poll Results: Please select one answer for each of the two survey sections
***** Section 1: How do you expect your personal income (not household income) to change over the next five years, and is that okay with you or not?	2	5.13%
I expect my income to decrease, and I'm satisfied with that.	0	0%
I expect my income to decrease, and I'm NOT satisfied with that.	1	2.56%
I expect my income to increase by about 5% (1% per year, annualized), and I'm satisfied with that.	1	2.56%
I expect my income to increase by about 5% (1% per year, annualized), and I'm NOT satisfied with that.	1	2.56%
I expect my income to increase by about 10% (2% per year, annualized), and I'm satisfied with that.	1	2.56%
I expect my income to increase by about 10% (2% per year, annualized), and I'm NOT satisfied with that.	1	2.56%
I expect my income to increase by about 16% (3% per year, annualized), and I'm satisfied with that.	2	5.13%
I expect my income to increase by about 16% (3% per year, annualized), and I'm NOT satisfied with that.	5	12.82%
I expect my income to increase by about 22% (4% per year, annualized), and I'm satisfied with that.	2	5.13%
I expect my income to increase by about 22% (4% per year, annualized), and I'm NOT satisfied with that.	2	5.13%
I expect my income to increase by about 28% (5% per year, annualized), and I'm satisfied with that.	4	10.26%
I expect my income to increase by about 28% (5% per year, annualized), and I'm NOT satisfied with that.	0	0%
I expect my income to increase by about 40% (7% per year, annualized), and I'm satisfied with that.	4	10.26%
I expect my income to increase by about 40% (7% per year, annualized), and I'm NOT satisfied with that.	1	2.56%
I expect my income to increase by about 61% (10% per year, annualized), and I'm satisfied with that.	4	10.26%
I expect my income to increase by about 61% (10% per year, annualized), and I'm NOT satisfied with that.	0	0%
I expect my income to increase by about 76% (12% per year, annualized), and I'm satisfied with that.	0	0%
I expect my income to increase by about 76% (12% per year, annualized), and I'm NOT satisfied with that.	1	2.56%
I expect my income to increase by about 101% (15% per year, annualized), and I'm satisfied with that.	2	5.13%
I expect my income to increase by about 101% (15% per year, annualized), and I'm NOT satisfied with that.	0	0%
I expect my income to increase by about 149% (20% per year, annualized), and I'm satisfied with that.	1	2.56%
I expect my income to increase by about 149% (20% per year, annualized), and I'm NOT satisfied with that.	0	0%
I expect my income to increase by about 205% or more (25% or more per year, annualized), and I'm satisfied with that.	2	5.13%
I expect my income to increase by about 205% or more (25% or more per year, annualized), and I'm NOT satisfied with that.	3	7.69%
I have never thought about what my income might be five years from now.	0	0%
I do not need to generate an income right now.	1	2.56%
***********************************	4	10.26%
***** Section 2: What is the main element of your plan to achieve the above increase in income? (Select only one.)	2	5.13%
Buy investment property that will have a quick positive cash flow	2	5.13%
Do something entrepreneurial on the side of my current job	4	10.26%
Get a higher-paying job	3	7.69%
Get a second job	1	2.56%
Get an inheritance or trust fund that I know is coming my way	0	0%
Get promoted at my current job	6	15.38%
Get raises in my current job	15	38.46%
Invest my savings in a “can’t miss” stock or business opportunity that will provide immediate income	2	5.13%
Increase profits from a business that I already own	6	15.38%
Quit my job and start my own business	1	2.56%
Train myself for a career that pays better	1	2.56%
I have no plan in place	2	5.13%
Multiple Choice Poll. Voters: 39. You may not vote on this poll

04-16-2006, 04:12 PM
Rain Man NFL's #1 Ermines Fan Join Date: Jul 2001 Location: My house Casino cash: $3338491 VARSITY	Cranking up your 1040 numbers: what's the plan? There will be a two-part poll coming up here. First, I'll ask your expectations of income increases over the next five years. Second, I'll ask about your key strategy to achieve those increases. You may feel free to expound with posts of your own authorship. Required Notice: This poll was commissioned by another Chiefsplanet member. All proceeds (there are none) will be donated to a worthwhile charity such as a cheerleader bikini car wash. Last edited by Rain Man; 04-16-2006 at 04:39 PM..
Posts: 141,346

04-16-2006, 04:30 PM	#2
JBucc MVP Join Date: Oct 2005 Casino cash: $10004952	*********************************** definately
Posts: 12,016

04-17-2006, 09:56 AM	#4
Rain Man NFL's #1 Ermines Fan Join Date: Jul 2001 Location: My house Casino cash: $3338491 VARSITY	One-time bump, since this is for a chiefsplanet poll client. __________________ I'm putting random letters here as a celebration of free speech: xigrakgrah misorojeq rkemeseit.
Posts: 141,346

04-17-2006, 10:54 AM	#5
Dave Lane Space Cadet and Aczabel Join Date: Aug 2000 Location: Kanab, UT, USA Casino cash: $9333275 VARSITY	Real Estate... Dave __________________ Thanks, Trump for the civics lesson. We are learning so much about RICO, espionage, sedition, impeachment, the 25th Amendment, order of succession, nepotism, separation of powers, 1st Amendment, obstruction of justice, the emoluments clause, conflicts of interest, collusion, sanctions, oligarchs, money laundering and so much more.
Posts: 40,584

04-17-2006, 11:32 AM	#6
Fat Elvis Sexiest Athlete Join Date: Apr 2001 Casino cash: $1521925	I'm amazed at how many folks seem to be expecting 7-10% annual raises the next five years......
Posts: 12,390

04-17-2006, 11:42 AM	#7
DaFace Kind of a mod Join Date: Aug 2005 Location: Donkey Land Casino cash: $2046899	One possible problem with this poll is that I think there are quite a few planeteers that are students. As a student, I expect my income to increase like crazy over the next few years as I get a "real job." However, my expected increase isn't due to a raise or second job. I answered that I expect to "Get a higher-paying job," but I'm not sure that fully covers my situation. Maybe "train myself for a career that pays better" would have been a better choice. Oh well.
Posts: 51,762

04-17-2006, 11:50 AM	#8
sd4chiefs error 404 Join Date: Aug 2000 Location: Bizarro World Casino cash: $8830445	Energy stocks!
Posts: 3,980

04-17-2006, 02:48 PM	#14
cdcox www.nfl-forecast.com Join Date: Sep 2000 Casino cash: $2361769	As a university professor, my income has two components: a 9 mo academic salary and a 3 mo summer salar. The 9 mo salary is guaranteed each year, and slowly goes up over time. I expect to get a promotion next year that will increase it by 10%, as well as put me in a catagory that would allow for larger merit-based raises. My 3 mos summer salary can range from zero to 33% of my 9 mos salary and depends mostly on my ability to attract outside funding for my research. Last year I fully funded my summer (yeah!), this year I won't have any summer support (boo!). I plan to have at least 1 to 2 mos support over the next 5 years, which means that I've been and will continue to write lots of proposals.
Posts: 45,536

04-17-2006, 02:55 PM	#15
Iowanian Supporter Join Date: Aug 2000 Location: Utopia Casino cash: $4778454	Unless I change careers, well, jobs, I'm not expecting anything fabulous in wage adjustments. In the mean time, I'm currently working my options to improve my capitol....takes money to make money. I'm investing differently, this week actually, and will probably be taking a risk and buying into a startup renewable energy co...today. In the mean time, I'm considering buying a house at some point to improve and flip.....but not until the one I'm in is done. mama bear would growl. At some point, you have to take some calculated risk to get ahead....and I'm standing on the edge of that cliff. i'm also considering more and more, starting my own consulting company in my field.
Posts: 61,525