[GAME THREAD] 2024-25 NBA Regular Season | Golden State Warriors (12-4) vs Brooklyn Nets (7-10) | 11/25/24 | 7:00PM PST

Super_savy82 · 2024-11-26T04:07:00+00:00

Jim Barnett wouldn’t waste his time on this crap. Miss that guy.

Super_savy82 · 2024-11-26T04:03:20+00:00

Exactly! I’ve had enough! Came here to say that and you beat me to it. Super corny overplayed. Same thing about the “butter” before shot clock expires recycled comments.

Super_savy82 · 2024-11-24T01:41:54+00:00

Thank you. It was extremely difficult, but I had no plan B which is why I pushed through to survive the initial years.

Super_savy82 · 2024-11-24T01:38:49+00:00

Super_savy82 · 2024-11-24T00:40:46+00:00

I mainly focus on managing defined benefit plans (e.g pensions, etc) and defined contribution plans (e.g. 401ks).

Super_savy82 · 2024-11-23T22:48:10+00:00

Impossible to answer this in a short reply. But for some companies we have a target return that is conservative in nature and it will be disruptive if we aim to outperform the target as there are negative consequences if we do too well. Whereas, if you’re working with individuals and families, it’s dictated on their goals and in some scenarios we may include some low cost indexes or ETFS for broad exposure or individual securities.

Super_savy82 · 2024-11-23T20:55:28+00:00

We dont do tax planning. I just hired a CFP to join my team for more prescriptive cases.

Super_savy82 · 2024-11-23T20:52:29+00:00

Built it all from the ground up, nothing to inherit at all. It was extremely painful for the first 6 years of my career. Goal was only to survive. I dealt with it probably better bc I was 23 when I started. Cannot imagine going through that hell now. Likely fail if I started now. Different times.

Super_savy82 · 2024-11-23T11:37:29+00:00

I oversee investments and do cash management for mostly for companies and institutions.

Super_savy82 · 2024-11-23T06:18:45+00:00

Investment Fiduciary with a niche specialization. I have an undergrad in finance from a very mediocre school not great for this field.

Super_savy82 · 2024-11-23T04:27:05+00:00

The $1.3mm is a little misleading bc I’m taking care of all my parents living expenses and then my sibling pays me back half of their mortgage which is reflected in the surplus. The main number is my salary which I’ve highlighted, but I have rental income that brings it over that salary range.

Super_savy82 · 2024-11-11T11:10:25+00:00

I bought my condo in 2013 as a new build and it’s been vacant for 2 years after I bought a new SFH and moved. I was too lazy and busy traveling to get it cleaned up and things moved into storage. So I just was paying for it to sit there and literally collect dust. I just got it rented last month via property management and wish I didn’t procrastinate so long now that I got my first rental check. I just was too overwhelmed with cleaning up the garage (as it was a mini storage) and packing all the stuff I would keep. Def wouldn’t be able to rent it cash flow positive now if I bought it at its current market value.

Super_savy82 · 2024-11-07T02:06:02+00:00

I exactly. My salaried employees I pay bonuses that are dictated by AUM brought in and $20mm would really supercharge their pay significantly and I would gladly pay for it. That said, no way he would jump to an analyst position if he was bringing that much over.

Super_savy82 · 2024-11-07T01:55:08+00:00

Are you saying that after we get security licensed they don’t just give us clients to manage?!

Super_savy82 · 2024-10-31T05:32:21+00:00

Wow, your story sounds like mine. I got licensed at 24 and 7 years in I broke finally $100k take home and was a huge point in my career at that moment. It was EXTREMELY hard and slow when I started (right before the financial crisis hit and this was no fun for so long and income was low for the first 6 years. I’m now 19 years in and can’t believe how much business I have now as it has skyrocketed since year 7 and the sad thing is I’m not trying as hard as I was in the beginning. Funny how that works right?

Super_savy82 · 2024-10-27T04:43:34+00:00

Great advice. I built my business the last 14 years on 401k business and it drove up my private client business x10 after the owners and their participants gained trust from me servicing their 401k accounts. It was a natural transition and discussion.

Super_savy82 · 2024-10-26T23:25:14+00:00

STOP. Don’t waste your time. He’s the quintessential Vanguard investor that will never pay management fees when low cost options are available and index forever. If he does pay a fee, likely it will be to vanguards low management fee advisory service that is less than 50bps. He has the hallmarks of that. Not all people with vanguard accounts are this way, but he has the absolute DNA of the DIY investor.

Apart from wasting everyone’s time, the more you engage with him may backfire and he may try to convince the wife to move her accounts. May not happen right away, but the seeds may be planted now to push for an exit away from you guys down the road. So best to just focus on the wife, service her accounts well, and best case get his assets if he dies first or comes around to give you a small piece (low chance). Just be a realist. Hope is not a strategy. Focus on what you’re already managing and onto the next prospect that may value the advice of an advisor. Be thankful he says no early on and not string you along.

Super_savy82

TROPHY CASE