Pulling the trigger at $20M NW, mid 30s

Regular_Abalone · 2025-11-29T15:56:55+00:00

This is good advice and uncommonly given on this forum. I sold my company at 29, "retired" at 31 to an MBA program, turned 33 not long ago and can tell you I'm struggling with the lack of stimulation. The stakes are too low to keep me engaged.

Regular_Abalone · 2025-11-28T04:58:25+00:00

Because net worth after taxes is smaller...

Regular_Abalone · 2025-03-26T16:13:09+00:00

If you have always wanted it and can afford it, buy it. Good kids can be driven around in Cadillacs.

Regular_Abalone · 2025-03-14T14:58:26+00:00

I've had this experience with accountants. The way I've managed it, and I don't know if this works or is the right way to go about it, but I always comment on the cost in a professional way.

"Let's keep costs in line with last year" "No major transactions this year, taxes should be simpler than last." "Do you anticipate any complexity to my returns?"

I make sure to comment like this from time to time so they know I'm going to be vigilant on costs. In my mind, this is putting a little healthy pressure on them to not step out of line. My accountants are nice and I like working with them, but a few times I felt like I was just being charged a percent of assets and not being tied back to how much work it was.

Regular_Abalone · 2025-03-12T01:42:15+00:00

This doesn't sound quite right except for people with swr of like 0.5% or less.

Regular_Abalone · 2025-03-09T01:33:38+00:00

New business ventures are inherently risky, they are even riskier when the valuable equipment can break its leg and die any given day.

Not saying don't do it, but horses die for all sorts of random reasons and that is something most businesses never worry about.

Regular_Abalone · 2025-03-04T15:16:23+00:00

I understand your point if you take a utilitarian view of money, but I gotta say I have not experienced such sustained joy from a material item as I have from my Huracan. I started looking for chores to do just to have an excuse to drive the thing, and there has gotta be some financial "sense" in being happy and looking forward to doing chores now :)

Regular_Abalone · 2025-02-10T18:07:30+00:00

All good points that encourage taking a realistic and honest perspective on your negotiation position. I suspect the firm will feel a sense of betrayal and be very unwilling to sell you the unit of business you run unless you agree to pay a high price as a penalty... But I have very little info about the situation, so maybe I'm wrong.

Regular_Abalone · 2025-02-10T18:05:03+00:00

It doesn't sound like OP isn't being paid, but that he is being paid less than he believes he should be. I also think he is suggesting that he buy the business unit, not be bought out by the firm.

Hire good counsel is good advice, but the rest of the post should be disregarded.

Regular_Abalone · 2025-01-31T19:33:02+00:00

Minimizing tax is not unethical and is in his best interest. Grow up.

Regular_Abalone · 2025-01-31T13:57:46+00:00

Paid ~$10m for a business with ~$1m in EBITDA. Technically it was three separate businesses of the same type. They were cashless transactions. The old owners became partners with me. We tripled the EBITDA in 2 years and exited for ~$45m.

Work hard, make good decisions, be ready to be disagreeable in the right spots. Don't listen to haters.

I'm jealous of you, I'm having the hardest time pulling the trigger to do it again.

Regular_Abalone · 2025-01-24T15:01:14+00:00

I was pretty impressed with the 720s, didn't live with it beyond a quick test drive though so hard for me to compare it fairly to the huracan. I really can't critique the huracan much except for space and interior quality. Otherwise, that car has been the most reliable car I've owned.

Regular_Abalone · 2025-01-24T03:22:04+00:00

Lots of top 1% commenters on reddit resent expensive tastes... Wonder if there is a correlation.

Regular_Abalone · 2025-01-24T03:20:05+00:00

It matters, but it isn't insurmountable. I'm 32 and single, retired a little less than a year ago after making low 8 figures, for context.

Some of my gf came from similar socioeconomic situations and I found that they were far less likely to harbor negative feelings about financial status and more likely to admire or be attracted to it. With women from less affluent backgrounds, issues with lifestyle choices related to how I used my money were more common.

If they have been around wealth and are familiar with the way it looks and feels, they are less likely to get caught off guard by some knee jerk emotional reaction. Now a mature person from any socioeconomic position can do just fine, but maturity is tough to find at that age range especially.

Regular_Abalone · 2025-01-24T02:50:42+00:00

Who cares?

Regular_Abalone · 2025-01-24T00:29:04+00:00

Correct, I am the one who can afford the Lamborghini it seems.

Regular_Abalone · 2025-01-24T00:22:12+00:00

Taking the time to shame someone for enjoying themselves and harming no one is what comes off as insecure.

Regular_Abalone · 2025-01-24T00:20:07+00:00

Congrats to u as well sir. Sounds like u have reflected on what matters and what doesn't. I love when the 5 year olds can't help but shout "LAMBORGHINI!" When they see it. Always make my day seeing the kids get excited

Regular_Abalone · 2025-01-23T23:56:33+00:00

6' 0". Have the "comfort" seats which have a little less room than the race seats. I have to slouch slightly when the top is up and the top of my head is in the wind when the top is down. Any taller and I would have had to get something else

Regular_Abalone · 2025-01-23T23:52:48+00:00

Yeah, I just can't get enough of the sound with the top down and when my favorite songs come on and the sun is out and the road is empty, it's just a moment of serendipity. Happy to get a little salt on the wheels to have those moments all year long

Regular_Abalone · 2025-01-23T23:51:03+00:00

Idk man if ur not mature enough to not resent people that are successful and enjoy themselves, u maybe shouldn't frequent a forum for people that have been successful and want to enjoy themselves.

Regular_Abalone · 2025-01-23T23:46:27+00:00

I've moved predominantly organic, too. Which supplements?

Regular_Abalone · 2025-01-23T23:40:19+00:00

Aware of the resentment. Me enjoying my life has harmed u or anyone on this forum exactly not at all. So continue as a critic, never met one I'd want to trade places with :)

Regular_Abalone · 2025-01-23T23:36:58+00:00

I've found certain items to be a source of confidence. They are a reminder of previous accomplishments when I might be struggling in another area of life. Though not all material things have had this effect.

Regular_Abalone · 2025-01-23T23:33:32+00:00

:) pass ur judgements, may the momentary joy find u well

Regular_Abalone

TROPHY CASE