Calculating wage replacement involves a few critical steps:
1. Determine Current Salary: Start by identifying your current annual salary, including benefits and bonuses. 2. Assess Business Revenue: Estimate the potential revenue your business can generate in the initial phases. 3. Calculate Expenses: Deduct business expenses, including operational costs, from the revenue. 4. Set Realistic Goals: Set a timeline to achieve wage replacement, keeping in mind the growth trajectory of your business.