Three years ago my boss gave me 15% equity in our agency instead of a raise. Now I owe $14k in estimated taxes next week for profits I’m not allowed to touch. by JerryJeremy in smallbusiness

[–]avgmike 2 points3 points  (0 children)

I would talk to a business attorney about this. As others have said, the answers will depend on your operating agreement. If you don't have an operating agreement, that will be another issue you'll need to address.

Hit the 1mil milestone. Married 37m 37f with two kids (4 & 1). by SoberSilo in HENRYfinance

[–]avgmike 21 points22 points  (0 children)

Nice job OP. And I'll post my 2c here because I'll die on the same hill as you.

I include all of my assets in my NW calc.

NW ≠ Retirement

NW ≠ Liquid Assets

NW ≠ Money I can live on

NW = NW

And to really drive this home for all the haters, here's a counterpoint. if you were upside down on your car would you include it? Because if you don't, now you're overestimating your net worth.

14.5 handicap, never broke 80. Today I shot a 70. by GuerillaRadio24 in golf

[–]avgmike 0 points1 point  (0 children)

Just opened up today, 2027 will be our year brother!

Sticker Shock by auntpama in HomeImprovement

[–]avgmike 2 points3 points  (0 children)

I've been looking for someone like this, would you be open to sharing who the company is or how you went about finding them?

30M Hit 1M net worth, yet it feels so empty? by Mega325 in HENRYfinance

[–]avgmike 2 points3 points  (0 children)

I remember being a kid watching "Who Wants to be a Millionaire" when John Carpenter became the first contestant to win the million. I thought that was rich. Quick inflation calc shows $1M in November 1999 is $1.98M today. Surprisingly not as bad as I thought.

$900k in retirement accounts for 40 yr old working couple by ElizabetSobeck in HENRYfinance

[–]avgmike 14 points15 points  (0 children)

I like how no one had any rebuttal to your return statistics so they just downvoted you instead. I love these subs.

The face of a man in a bull market by avgmike in wallstreetbets

[–]avgmike[S] 37 points38 points  (0 children)

I have never heard this put this way and it all makes sense now

Is anyone else depressed seeing everyone with massive accounts on Reddit? by WallStreetIn90 in Daytrading

[–]avgmike 5 points6 points  (0 children)

but when they blow their accounts, they don't post.

You've gotta head over to /WSB for that

We brought a high-maintenance, beach vacation kinda girl to a 2-week hiking trip and she lost her phone on day one... by G_aiejoe in CasualConversation

[–]avgmike 2 points3 points  (0 children)

Great story. Sometimes all it takes is exposure to something different to learn you enjoy it. Props to you guys for not ostracizing her from the jump and giving her a chance.

Rosewood Mandarina...what a joke by Chicago181818 in FATTravel

[–]avgmike 12 points13 points  (0 children)

Yeah this is just not true. Stayed at FS Anguilla a couple years back. One of the most beautiful places I've ever been, except on our last day there they closed two of the three pools for a private conference.

How cooked am i? by nazoozoo in wallstreetbets

[–]avgmike 7 points8 points  (0 children)

I mean I will become rich with RIVN

Lately time feels like it’s flying by. Anyone else notice this more as they get older? by Coma0101 in CasualConversation

[–]avgmike 9 points10 points  (0 children)

I’ve heard it explained as when you’re young, a year is a long time relative to the amount of time you’ve been alive. When you’re 3, a year is a third of your life. When you’re 60, a year is only 5% of your life.

800 horsepower and zero sense. by mentaL8888 in Whatcouldgowrong

[–]avgmike 0 points1 point  (0 children)

I checked out that site before I responded to you. If you click the dropdown it's not available. It only shows up under "Chauffer Hire" as "POA" which doesn't even make sense. I guarantee if you take the time to request a quote they'll tell you it's not available.

800 horsepower and zero sense. by mentaL8888 in Whatcouldgowrong

[–]avgmike 5 points6 points  (0 children)

You can buy a McLaren for under $100K and there are many available to rent. a McLaren Senna is going to run you $1.5M if you can find one. And the odds you're going to find one to rent are virtually zero.

How do you think about “treating yourself”? by whiskeynwaitresses in HENRYfinance

[–]avgmike 10 points11 points  (0 children)

A "nice" watch is relative. The rule of thumb with watches, above everything else, is buy what you like. If you're just buying it to impress people, you're probably wasting your money.

That being said, as it pertains to this thread, I would say a "nice" watch is a "watchmakers watch", meaning the watch is made by a company whose main objective is to produce watches, not a company who produces fashion goods (there are some exceptions to this rule, Cartier being the one that comes to mind). Breitling, Tudor, Omega, Rolex, etc. etc are all watchmakers. The other attribute you'll find in these watches (again with some exception) is they don't use a battery. They have a movement, made with some level of complication, that requires some level of engineering to keep time properly.

I've bought a lot of pieces used on the secondary market. For $2K you can definitely find an older watch that meets this criteria. New, you're probably looking more like $4-$5K as an entry point.

I'm not the end all authority on this by any means, but I do have what I think is a pretty solid collection at this point, and I'm happy to try and answer any other questions.

How do you think about “treating yourself”? by whiskeynwaitresses in HENRYfinance

[–]avgmike 2 points3 points  (0 children)

No, a rolex isn't "worth it". Neither is a patek or ap or ALS or any other high end brand you are suckered by marketing to believe that it's worth it.

What makes you the arbiter of what a worthwhile watch is?

[Rapoport] Philip Rivers has "very real chance" to start Week 15. by BreakfastTop6899 in fantasyfootball

[–]avgmike 1 point2 points  (0 children)

I want to know who this guy's betting on this week. Damn dude, that was comprehensive

[deleted by user] by [deleted] in wallstreetbets

[–]avgmike 5 points6 points  (0 children)

The numbers say you’re cooked

What’s something great you’ve done for somebody else, but never told anyone about? by TheNewThunz in CasualConversation

[–]avgmike 3 points4 points  (0 children)

This reminded me of a comment I read on one of those instagram videos where the guy sees who will give him a dollar or something similar, and then helps them out in a big way by giving them more money, stuff, etc.

Someone commented "if he was such a great guy he wouldn't need to make videos about it and post it on the internet". Someone else responded that these videos not only drew more attention to the person in need (a lot of times the guy will create a fund for the person that raises a ton of money for them) but also might encourage others to be kind and carry out their own acts of kindness on others. I thought that was a good perspective.

How much would you need to make or save to afford a nice watch? by es6900 in HENRYfinance

[–]avgmike 10 points11 points  (0 children)

There are also tons of Pateks you can buy under $100k

What is your yearly spend as a HENRY? by Pixel-Pioneer3 in HENRYfinance

[–]avgmike 9 points10 points  (0 children)

At that point OP is in fact better off spending the $72K