One day you decide that you cannot really afford to pay your employee a salary and you will just give him or her a paycheck whenever you feel like it. They don't need to rely on a paycheck , right? They will still take an interest in your business and work hard for you if you take all the “perks” away such as getting paid and no appreciation for their commitment, right?

It won't take long for this employee to come to you with the news that they are no longer working for you.

Aren't we as business owners the employee that we just described? Then why do a lot of business owners not pay themselves? In a new business there is a time that you may not be able to pay yourself at the beginning of the venture, but probably banked on that when you took the leap to go on your own. We are the best employee that our business will ever have, so why shouldn't we be well compensated? Just like an employee, after a while you will get burnt out because for all your hard work you reap no benefits. It is very important that you pay yourself. Depending how your company is set up, talk to your accountant to see what is most beneficial for receiving income.

You should have a plan for retirement because no one else is going to do it for you. Once you start setting aside a certain amount every pay period you will never miss it. It doesn't have to be a huge amount, but no matter what, keep putting it in. It all sounds like a lot of work, but once you get a plan in place, you too will be a happy employee.