---
title: How to Spend $1 Million
description: Insurance agents will spend 70% of their income or more on taxes and expenses.  Know how to manage that to be successful.
---

[Club Capital Blog](https://blog.club.capital)

# [How to Spend $1 Million](https://blog.club.capital/how-to-spend-1-million)

 Written by [Micah Cannon](https://blog.club.capital/author/micah-cannon) | Sep 21, 2017 3:04:16 PM

Whether your realize it or not, **every agent in the country will spend $1 million over the next five years!**  This is the number one item affecting your bottom line and it’s important to know 

where that money is being spent.  Ask yourself as a business owner: “does your current tracking, planning, and budget allocation align with the results that you want to achieve?”  You have a partner in your business that you may not have realized - the government.  With tax rates between federal, state, and local taxes often exceeding 40%, it is a significant part of your business.  If you had a revenue line that was 40% of your business, would you track it?  Same goes for taxes...In any small business, **including insurance agencies**, there's three ways that you can improve your take-home pay: either increase business revenue, decrease expenses, or focus on tax liability.

***If you had a revenue line that was 40% of your business,***

***would you track it?***

**In order to play this game you can't fall short on any of the following 3 routines when it comes to your agency's financials:**

 

1. **Track**: revenue, expenses, and taxes need to be tracked.  You can't manage what is not measured.
2. **Monitor**: you must monitor these three items by looking at your financial statements at least monthly to know where you stand.
3. **Compare**: compare your financial metrics to months past, quarters past, and to other agents to truly determine forward momentum, increased business acumen, and ultimately an increased bottom line.

 

[Learn](https://club.capital/) how Club Capital clients are doing this with their agencies.

 

[View full post](https://blog.club.capital/how-to-spend-1-million)

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