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Old 03-25-2020, 01:18 PM
Musicat is offline
Charter Member
Join Date: Oct 1999
Location: Sturgeon Bay, WI USA
Posts: 21,950
Originally Posted by kayaker View Post
One of my pet-peeves is when people say they're on a "fixed income". Aren't most people on a fixed income, other than those working for commission? If I win the Mega-Zillion Lottery, quit my job, and receive a $40,000 check each month , I'm on a fixed income, right?
A fixed income is one that you can count on each pay period, like a salary that doesn't vary. Social Security is an example. Most commission jobs are variable, based on the amount of commission earned for the sales you make, even though the actual funds received can be a draw upon future earnings.

Some commission jobs are 100% commission-based -- if you sell nothing, you receive nothing in commission. That's how my real-estate income is; I receive only the commission from my sales, nothing else. In some ways, this is worse than a fixed income; it includes the possibility of no income at all, while expenses continue.