When Should You Take Profits In Your Company?| Ep. #983

[00:27] Today’s Topic: When Should You Take Profits In Your Company?

[01:02] Neil started a company when he was 16 and didn’t start taking profits until he was 20/21.

[01:21] He thinks he was foolish for waiting so long.

[01:35] If you need the money, take what you need to survive.

[02:24] It’s also wise to reinvest your profits.

[02:50] Things can go wrong, so putting profits aside for emergencies is smart.

[03:35] Know your living expenses, so you can determine what you need.

[04:05] Maybe you want to travel or live a good life; if that is important, take the profits.

[04:41] Some companies don’t do dividends, because they are re-investing them.

[05:20] Don’t expand beyond your core business.

[06:46] That’s it for today!

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