Clifton

Hey, guys. First, thanks for taking my call. Been listening to you guys for about a year now, and me and my wife are completely on board with this. We paid off about $230,000 in debt so far. Wow. Congratulations.

Hey, guys. First, thanks for taking my call. Been listening to you guys for about a year now, and me and my wife are completely on board with this. We paid off about $230,000 in debt so far. Wow. Congratulations.

Hey, guys. First, thanks for taking my call. Been listening to you guys for about a year now, and me and my wife are completely on board with this. We paid off about $230,000 in debt so far. Wow. Congratulations.

18 months.

18 months.

18 months.

No, no, no. My uncle retired from the family-owned business and passed ownership to me. It's a business that's been in business since 1965, and we do really well, and I've managed, just because I'm younger and can work harder, I've managed to triple the revenue from the last few years that he was getting in. Wow.

No, no, no. My uncle retired from the family-owned business and passed ownership to me. It's a business that's been in business since 1965, and we do really well, and I've managed, just because I'm younger and can work harder, I've managed to triple the revenue from the last few years that he was getting in. Wow.

No, no, no. My uncle retired from the family-owned business and passed ownership to me. It's a business that's been in business since 1965, and we do really well, and I've managed, just because I'm younger and can work harder, I've managed to triple the revenue from the last few years that he was getting in. Wow.

Incredible. Yeah, it's going really well. And my wife's a DNP, so she makes really good money, too. Oh, wow. And we live fairly crudely.

Incredible. Yeah, it's going really well. And my wife's a DNP, so she makes really good money, too. Oh, wow. And we live fairly crudely.

Incredible. Yeah, it's going really well. And my wife's a DNP, so she makes really good money, too. Oh, wow. And we live fairly crudely.

Right, but that does not get rid of the anxiety and stress I have with the debt that I have left, which is the reason for my call. We built a house two years ago. I'm not really concerned about that. We sold our old house and built this one on a property we bought. The business, though, as soon as I took over the business, I reformed as an LLC, got the S-election.

Right, but that does not get rid of the anxiety and stress I have with the debt that I have left, which is the reason for my call. We built a house two years ago. I'm not really concerned about that. We sold our old house and built this one on a property we bought. The business, though, as soon as I took over the business, I reformed as an LLC, got the S-election.

Right, but that does not get rid of the anxiety and stress I have with the debt that I have left, which is the reason for my call. We built a house two years ago. I'm not really concerned about that. We sold our old house and built this one on a property we bought. The business, though, as soon as I took over the business, I reformed as an LLC, got the S-election.

So that I'm not taxed so heavily and I pay myself a salary from that business, which of course is taxed as personal income. There was a loan that my uncle made to me, basically gave me the business, but I had to buy the complete inventory. And he was very, very nice to me and gave me that on a seven year loan at two and a half percent interest.

So that I'm not taxed so heavily and I pay myself a salary from that business, which of course is taxed as personal income. There was a loan that my uncle made to me, basically gave me the business, but I had to buy the complete inventory. And he was very, very nice to me and gave me that on a seven year loan at two and a half percent interest.

So that I'm not taxed so heavily and I pay myself a salary from that business, which of course is taxed as personal income. There was a loan that my uncle made to me, basically gave me the business, but I had to buy the complete inventory. And he was very, very nice to me and gave me that on a seven year loan at two and a half percent interest.

Um, and, and, uh, I've paid that down to about 240,000 is what I have left out on it and five years left to pay on it. Um, so this is my question though. Um, uh, I'm paying myself a salary. So I get that every week. The rest of the money, because we're an S, taxed as an S, is being kept in the business as retained earnings.

Um, and, and, uh, I've paid that down to about 240,000 is what I have left out on it and five years left to pay on it. Um, so this is my question though. Um, uh, I'm paying myself a salary. So I get that every week. The rest of the money, because we're an S, taxed as an S, is being kept in the business as retained earnings.