Entrepreneurs, employees, and minimum wage

Published: Sunday, March 16, 2014 at 15:39 PM.

We’ve all been underpaid at times. And many of us have been entrepreneurs, sometimes struggling to make payroll even at a low hourly rate. Kroc himself toiled in the “multi-mixer” business for years, supplying spindled malt mixers to restaurants, and was looking for a new career because his sales were trending downward when he discovered the bustling McDonald Brothers Drive-In in San Bernardino , Calif.

Next week: Should we raise the minimum wage?

Margaret R. McDowell, ChFC, AIF, a syndicated economic columnist, chartered financial consultant and accredited investment fiduciary, is the founder of Arbor Wealth Management, LLC, (850-608-6121 — www.arborwealth.net), a “fee-only” and fiduciary registered investment advisory firm located near Sandestin. This column should not be considered personalized investment advice and provides no assurance that any specific strategy or investment will be suitable or profitable for an investor.

 

 



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