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My Editor Wants A Raise

by retirebyforty on September 14, 2011 · 70 comments

in blog tech., expenditure, fun stuffs, side income

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My editor and business partner, Mrs. RB40, is hinting that she needs a raise. Well, maybe it’s not hinting when she posted the comment on her Facebook page. I really do need her help because writing grammatically correct essays is not my strength. My excuse is that English is my second language, but that’s getting old because I’ve been speaking English 2-3x longer than another language. She is a great editor and often helps me flesh out my ideas.

One problem is that my TTM (time to market) is very short. I usually write a post the night before it goes live and then Mrs. RB40 will have to edit the piece at 10:30pm when she is already exhausted (and probably drifting off to sleep.) That is a bit late and I really need to get a few posts in the queue. Maybe this will be one of my 2012 New Year Resolutions – have at least 3 posts in the queue.

Anyway, now I really feel like an entrepreneur because I’m dealing with a problematic employee! (Ha!) She really deserves a raise though because right now she doesn’t have a big incentive to work at 10:30pm (other than she loves me.)

Currently, any revenue coming in from our online venture goes straight into the bank. Last week, I read about a great investment strategy at Money Reason who purchase dividend stocks with their online income.  I think this is a great idea. Our online income goes into the general pool and will eventually make its way to some kind of investment. I haven’t designated a portfolio or a particular investment for the online income stream yet. Maybe I should create an online dividend portfolio as well or I could also use the income to pay part of the mortgage on our 4-plex rental property.

Now that we are getting checks from Google and other sources, I was thinking I should give 10% profit sharing to Mrs. RB40 as an addition to her adult allowance. What do you think? Will this keep her motivated and give her a bit extra money to spend on some frivolous purchases? She hasn’t purchased any purses or clothes in a long time. This is mostly due to being busy with baby RB40 though. I really can’t do without my editor so I think I’ll have to bite the bullet and give her a raise.

If you have a blog, what do you do with the online income? Do you have a designated account that the income goes to? Do you use a certain % for fun or something else?

Next, Baby RB40 will be clamoring for his 10% share. :)

 

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{ 68 comments… read them below or add one }

Niki September 14, 2011 at 4:27 am

Definitely give her at least 10%. Having a a post that is readable is high on the list of things you need to have a following and/or credibility. Her hours are kinda lousy too. :)

I love the idea of investing your site income. Right now anything I have made has gone into our emergency fund, since we are in the middle of building that now. But I would consider doing this (investing) once our efund is done.

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retirebyforty September 14, 2011 at 9:01 am

OK, I’ll go with your call. :)

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MoneyforCollegePro September 14, 2011 at 5:15 am

Yes, I agree, it sound like Mrs. RB40 deserves at least 10% (if not more…)

So far, the small amount I have made from the site has gone back into the site. I don’t rely on this income at all, so it is easy to bootstrap my online ventures.

Once I make more income than my expenses, I plan to pad our emergency fund, finish paying off our car loan early, and then start maxing out our ROTH IRA.

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retirebyforty September 14, 2011 at 9:02 am

I like your plan for your online income. Hope you can get there soon.

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20'sFinances September 14, 2011 at 5:36 am

Aren’t editors the highest paid employee for all the major newspapers? I think the very fact that you are asking this question on your blog suggests that he is getting a raise. :) Once I get my first money, I will let you know. I am thinking about a giveaway to build my site even more. After that, I am debating between investing and traveling (or both).

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retirebyforty September 14, 2011 at 9:03 am

I’ll run a give away on our blog anniversary soon. You can split the fund to 50% investing and 50% travel. :)

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Kellen September 15, 2011 at 4:33 am

RB40 – when is your blog anniversary happening? Mine is the end of October, so I’m going to do some kind of giveaways too…

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retirebyforty September 15, 2011 at 10:16 am

Early October! :0

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LLF September 14, 2011 at 5:51 am

Maybe instead of a raise, your editor could get a bonus. It could be quaterly or whatever schedule you choose. This way, there could be some flexibility as to what you can give. When there is more online income, there’s a bigger bonus.

As for my blog, I don’t generate income. It’s just free therapy for me, which saves me a ton of $$$. =) Maybe oneday, someone will pay me for my rantings.

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retirebyforty September 14, 2011 at 9:05 am

I think she’d rather have some cash every month rather than per quarter. 3 months is a long time to work before seeing any money.
Good luck on monetizing your blog!

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funancials September 14, 2011 at 9:31 am

The online income isn’t a concern of mine yet. When I decide to place ads or sponsored posts on the site, all income generated will likely go to charity.

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retirebyforty September 14, 2011 at 10:08 am

That’s a very admirable goal!

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Crystal September 14, 2011 at 9:33 am

LOL, my hubby doesn’t even do much other than support my crazy hours and he gets 10% of the extra, hahaha. http://www.budgetinginthefunstuff.com/self-employment-paychecks-irregular-pay/

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retirebyforty September 14, 2011 at 10:20 am

Haha, he is quite the free ride. Great job with your income by the way! Congratulation!
I need to come up with a detail plan like your plan.

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Miss T @ Prairie Eco-Thrifter September 14, 2011 at 1:36 pm

I think she deserves a raise. Raises help keep people motivated because it is recognition of a job well done. It keeps them happy, productive, and hired. You don’t want her working on a different blog instead of yours for a higher rate do you?!

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retirebyforty September 14, 2011 at 3:24 pm

No way! She wouldn’t have any time to work on a different blog. :)

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Suba September 14, 2011 at 2:29 pm

My editor (husband) has been asking for a raise too :) Esp. when I want him to check a post “right now” because I was late in writing a post but I still want it out on time. I told him when the blogs grow he can have all the money, but he wants a few bucks now lol.

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retirebyforty September 14, 2011 at 3:24 pm

Another problematic employee! :) Haha, you probably need to give him some profit sharing too.

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Buck Inspire September 14, 2011 at 3:02 pm

Fun post! I’m looking more into dividend investing as this market is making me seasick. As for the raise, she has to put up with you and Baby RB40 (haha) while editing at late hours, and has a tight deadline? She may need more! Mrs. RB40, when RB40 caves, you can slip me a little finder’s fee, at your discretion. Thanks! :)

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retirebyforty September 14, 2011 at 3:25 pm

I’m slowly moving my investment to dividend stocks. It’ll take some time, but I am tired of the crazy market too. It’s tough to be Mrs. RB40. :)

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Aaron Hung September 14, 2011 at 4:11 pm

That’s what I’m planning to do anyway with my online venture(if it ever comes hehe) and just put it away into my divys and collect income every month. That way, it’s safe if and ever my online venture goes downhill

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retirebyforty September 14, 2011 at 8:24 pm

Good call.

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Christa September 14, 2011 at 4:39 pm

As an editor myself, my favorite saying is, “Have you hugged your editor today?” Editors deal with a lot of…stuff…like working at 10:30 at night. My vote: definitely a 10% editor’s raise and a hug every day!

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retirebyforty September 14, 2011 at 8:25 pm

My editor gets bonus hugs and kisses everyday! :)

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Kellen September 15, 2011 at 7:07 pm

I’m not sure that the bonus hugs and kisses are any “extra” than what she’d deserve just for being married to you ;)

How about trying to get one or two posts ahead of schedule, and then she can edit it earlier on in the day, whenever is convenient for her? (I struggle to write ahead of schedule – typically only write when inspiration hits. But if you’re writing on a schedule anyway…)

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retirebyforty September 15, 2011 at 9:40 pm

Bonus hugs and kisses are definitely extras. :)
I will try to get one or two posts in the queue, but I am just so busy. Baby RB40 demand so much attention and when I have a little time off, I’m too exhausted to write. Maybe this weekend, I’ll have a few minutes to build up some extra posts.

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Ashley @ Money Talks September 14, 2011 at 5:30 pm

No one edits my blog… my mistakes are mine alone! haha.

In theory I put my online earnings into the savings account we have designated to pay towards debt… but in reality so far they have paid my way to the conference, and not even all of that. So I’m in the hole financially still.

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retirebyforty September 14, 2011 at 8:26 pm

Really? I’m sure you will be ramping up the income soon though.

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SB @ One Cent At A Time September 14, 2011 at 5:53 pm

very nice and refreshing read in between serious stuff else where. did you check if your editor didn’t make 5% to 10% while editing? Are you sure you wrote 10%?

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retirebyforty September 14, 2011 at 8:27 pm

Haha, good catch. Yes, I wrote 10%. :D

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krantcents September 14, 2011 at 6:08 pm

If you give her raise, will she spend it?

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retirebyforty September 14, 2011 at 8:27 pm

It is highly likely that she will spend it. She used to hoard cash when she was little, but she can enjoy spending it once in a while now.

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Lisa @ Cents To Save September 15, 2011 at 4:39 am

Good help is hard to find, definitely will be to your benefit to compensate her properly. :) As my blog income grows, (thanks to Crystal’s help) It is for debt reduction.

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retirebyforty September 15, 2011 at 10:16 am

Debt reduction is a great way to spend those online income.

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My University Money September 15, 2011 at 6:01 am

Hey, let the free market decide, go find a cheaper option on fiverr or something and show her what her market value is ;) Of course she might show up with a younger guy the next day and let you know what your market value is, so maybe just give her the raise! :)

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retirebyforty September 15, 2011 at 10:17 am

I haven’t tried Fiverr yet, maybe I should take a look. :)

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Snob on a Budget September 15, 2011 at 6:38 am

Give her 10% for sure!

I do not earn that much from m blog at the moment. I think it will go to my fun money then as it grows to savings. Eventually I hope to leave my job to run a business at home along with my blog.

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retirebyforty September 15, 2011 at 10:19 am

Good luck! It’ll take a lot of work, but running a home business sounds really nice.

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Little House September 15, 2011 at 6:41 am

Definitely give her 10% (or more)! It’s great that she’s willing to help you out and proofread your posts. Not all spouses are so involved (believe me!)

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retirebyforty September 15, 2011 at 10:19 am

I’ll take your word for it. She deserves 10%. :)

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Financial Success for Young Adults September 15, 2011 at 8:03 am

I like the idea of a 10% share. It seems very reasonable. I started to include my blog earnings into my overall budget but I started to see myself spending more, so from now on I am using all of it (minus monthly expenses) to pay off my car note and save. So if I make 500 in a month 250 will go towards the car note (as an extra payment) and 250 will go towards my Betterment account.

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youngandthrifty September 15, 2011 at 9:02 am

Give her a raise! What’s an adult allowance?

She sounds amazing- editing for you :) Say Hi to Mrs. RB40 for me!

My BF wouldn’t even touch my blog though I’m not paying him either.

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retirebyforty September 15, 2011 at 10:21 am

It’s just a weekly cash allowance for adults. We get $75/week to spend on groceries, toys, and other stuffs. Groceries price has gone up quite a bit though so the extra money would come in handy.

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MoneyCone September 15, 2011 at 11:55 am

Give her the raise RB40! Especially when you know you need the services! :) You are in no position to bargain!!

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retirebyforty September 15, 2011 at 2:27 pm

All right, she gets 10% profit sharing. hahah. :D

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Jeff @ Sustainable life blog September 15, 2011 at 12:35 pm

Oh man, I think she deserves a cut. I dont “pay” my staff writer anything, but the online income is paying for her with me to the Fincon in october.
When she asked about pay, I told her that after fincon, we could discuss something, but for now, flight/hotel, fees, etc will be good.

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retirebyforty September 15, 2011 at 2:29 pm

That’s a nice trip to Chicago. Hope you guys have fun. You can write all those expenses all off in April! :)

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Crystal September 15, 2011 at 12:44 pm

I am so jealous of all of you that have spouses who even want to help. My husband will help me brainstorm ideas when I have writer’s block, but that’s where he draws the line. I even offered to pay him $25 per post for him to post at BFS and he turned me down!

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retirebyforty September 15, 2011 at 2:30 pm

Thanks goodness Mrs. RB40 is supportive. She is the best! $25 per post is way more than the standard freelance rate right? :D

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Crystal September 16, 2011 at 9:56 pm

I get $20-$30 a post, so I thought $25 was a great offer, lol. Especially since his spelling sucks…

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Money Reasons September 19, 2011 at 9:21 am

I swear, I did exactly the same offer to my wife as Crystal did, and my wife turned me down too (multiple times).

It’s a same really, my wife writes better than I do, but she doesn’t think that she does. I offered to have her guest post once a week (that’s all I could afford).

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The Happy Homeowner September 15, 2011 at 12:47 pm

I certainly agree with everyone–give the 10%! I really like how you’ve made this a team effort, and I commend you for building your blog to a point where you’re earning a decent income from it.

I haven’t made any money on my blog yet, but I did join the BlogHer network recently. I want to contribute some of the money towards building my blog and I also would like to send $$ to student loan debt–but both of these things would happen after setting up a Kiva account so that I can begin giving back in greater ways.

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retirebyforty September 15, 2011 at 2:31 pm

Good luck with BlogHer. I don’t know too much about them, but it seems many blogs are member. Kiva sounds good too.

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Hunter @ Financially Consumed September 15, 2011 at 12:58 pm

They say the most important assets of any organization are its people. 10% seems very reasonable.

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cashflowmantra September 15, 2011 at 7:50 pm

She deserves every penny that she asks for. I do have a blog and use the money to pay off some debt. I have one particular credit card that I am making extra payments toward.

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retirebyforty September 15, 2011 at 9:42 pm

Paying off debt with the blog income is a great idea. Don’t miss my next post tomorrow – our 4-plex investment. I could use your input.

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Matt Wegner @ Financial Excellence September 15, 2011 at 9:02 pm

Mrs. Financial Excellence keeps hinting that she needs a raise. I totally agree, and commit to doubling her pay each time she asks… Which results in her still earning $0.00 ha ha!

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retirebyforty September 15, 2011 at 9:42 pm

Haha! Hilarious! You might have to start paying her soon if you want her to keep working. :)

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Jesse @ BP September 16, 2011 at 12:58 pm

Hehe I tried to get my wife to help out with the blog but you’re right, there is little incentive unless I give her some cash. Funny thing though, this really is probably a situation dealt with often in small businesses..

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retirebyforty September 16, 2011 at 6:11 pm

Yes, we are learning how to deal with employees. It’s a good skill to learn. :)

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Briana @ 20 & Engaged September 16, 2011 at 8:47 pm

I get all my online income in my Paypal account and get access to it with my Paypal debit card. When I get to a certain point, I will pay myself a salary instead of using it all.

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laura September 17, 2011 at 12:09 am

Ha yes give Mrs RB40 a raise and baby RB40 an appearance fee! ;)

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101 Centavos September 17, 2011 at 1:12 pm

Now is not the time to cheap out. Give your employee the money, and keep the peace.

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retirebyforty September 17, 2011 at 5:42 pm

The peace is kept! :)

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Money Reasons September 19, 2011 at 9:25 am

Great article, and thank for the mention! I’m honored :)

I think it’s a great idea to “give 10% profit sharing to Mrs. RB40 as an addition to her adult allowance”.

Like Crystal, I wish I could get my wife to participate more (I offered to pay her too, but she doesn’t bite…)

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Invest It Wisely October 3, 2011 at 7:02 pm

Haha, why not? Currently I use the online income I earn to pay off bills, and put a little bit away on the side.

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retirebyforty October 4, 2011 at 10:29 am

She got her first taste of profit sharing last week and she likes it! Now she’ll be a good editor and stop complaining about the late hours. (I hope) :)

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Ron @ Besttravelcreditcard.us November 3, 2011 at 1:57 pm

Well a little bit of extra Starbucks cash is always a great motivating factor :)

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