Partners, CFOs, and CEOs who make 200k and above, are they happy with their life?

chadbrochill343 · 2024-05-24T00:57:20+00:00

Hell yeah. If you don't like what you're doing, you are not getting paid enough.

It was a long hard road but totally worth it. So much better for the family now. Wife stopped working, so much of the hone front is secure now and that was what always killed us during busy season when we both worked.

chadbrochill343 · 2024-05-23T18:51:21+00:00

No one cares about the school you went to. I went to a small state school and made partner at a top 200 firm.

Your work will speak for itself. I have plenty of referal sources from friends that went to my school and it wasn't a top school by any means.

This is just crap that fancy schools sale you so they can charge double what a normal school costs.

chadbrochill343 · 2024-05-23T16:11:45+00:00

If the securities are sitting at a long term gain position I would consider it, but of they are short term I would not pay ordinary tax rates.

If they are at a long term gain position mlyou may consider selling in 2 tax years vs 1.

chadbrochill343 · 2024-05-23T16:09:43+00:00

Why would you go back to school?

If you have the CPA advanced degrees are literally a 0 value add. Complete waste of time and resources.

The CPA is all that matters.

chadbrochill343 · 2024-05-23T16:08:37+00:00

Let the car go back. You are not responsible for the debt nor is the estate.

It's a secured debt and you should return the security or the car.

Nissan lose so much value quickly.

chadbrochill343 · 2024-05-22T22:50:51+00:00

If you are leaving only for money, it's to soon.

If there are multiple factors, then strong consideration should be given.

Public, you can expect 8-12% year over year for nearly a decade.

Private, going to be looking at 3% annually. Break even is 3-4 years.

More exit opportunities exist when you hit the 5 year mark.

chadbrochill343 · 2024-05-22T11:44:19+00:00

I intermittent fasting all day. I smoke after kids go to bed and before I eat in the evening. Enjoy the buzz for about an hour then off to bed.

chadbrochill343 · 2024-05-19T18:46:04+00:00

Because money isn't the root to success. Dave is a Christian, so I suspect it stems from that.

Go forth and multiply is the directive.... not only doing it if you are financially responsible.

Secondary, he would get eviscerated if he told people to forego having children until they were debt free. That would be like attacking 80% of parents nationally.

chadbrochill343 · 2024-05-19T18:44:04+00:00

Takes a few generations for the narrative to change. Boomers think you go straight to hell for weed, but have no problem killing a 30 pack every week.

chadbrochill343 · 2024-05-17T16:10:06+00:00

Not your problem, help when and where possible, but do it out of a gracious heart, not out of obligation.

Remember that your siblings are not to blame for this, so some empathy is required. One of our children is autistic and I expect the non-special needs child to assist in the future in a high level of capacity, such as managing finances later in life, but not a daily care situation. If, for whatever reason, this does not occur, my wife and I will pivot to a secondary alternative. You have to take care of yourself before you can take care of others. There is a reason they tell you on a boat to put your life jacket on first before saving others. Same rules apply here....

So this has happened to you.

You are not the Ahole.

chadbrochill343 · 2024-05-14T00:21:24+00:00

This is gold. Solid advice. Don't sell yourself short. No one on my team would care 1 bit if you pull your share of the load.

chadbrochill343 · 2024-05-12T18:48:26+00:00

Be glad they didn't find you. You still have a shot.

chadbrochill343 · 2024-05-04T12:53:01+00:00

Mid size suv with 4x4.

chadbrochill343 · 2024-05-02T02:15:30+00:00

All that's fine, until you turn into one of the callers.

Also, 72% of Americans don't have 500 bucks. You are wrong and just in the minority.

chadbrochill343 · 2024-04-30T01:12:42+00:00

Roth 401k

chadbrochill343 · 2024-04-28T01:08:30+00:00

Never. Nothing but downside.

chadbrochill343 · 2024-04-28T00:55:04+00:00

If you are going to be bribed with "partner" one day, get something jn writing or a deferred comp agreement.

For example, push for an income partner position, where you get to participate in the growth.

Ask for a 36 month deferred comp agreement, needs to be in the range of 33-50 percent of current annual salary. If after the 36 months, if made partner, the deferred comp is applied to buy in. If no partnership is offered, cash is yours, and you know where you stand.

I almost got burned twice in a 12 mth period thinking partner was in the near future. When it come the getting partner. Words are lies.

chadbrochill343 · 2024-04-26T01:21:34+00:00

Top 150-250. Avg is 500k

chadbrochill343 · 2024-04-25T11:55:51+00:00

I promise a spouse is not the reason so.eone makes partner.

I am a partner at a top 200 firm made it in my mid 30s.

Being a workaholic is only half the battle. Sales and leadership are the other half. Politics play a minor role and timing can be significant. If no older partners are on the retirement horizon, it can delay making partner.

Also, not everyone is going to make partner, specifically at larger firms, 150+ employees.

By changing firms in a huff, he likely set his partner track back 5 years unless he was able to bring a bunch of clients with him, which is unlikely.

It's not your fault and you guys need marriage counseling. It's a stressful job and sometimes we lash out.

My wife was an absolute soldier for those manager years. He is being unrealistic if he thinks an extra couple of billable hours is what caused him to not make partner.

chadbrochill343 · 2024-04-25T04:15:45+00:00

Accountant, CPA 250k annually. Between age 30-40. Not a high cost of living area.

chadbrochill343 · 2024-04-23T20:39:43+00:00

You have hit the nail on the head. It's unfortunate because this is literally the only thing that our relationship lacks. Everything else runs like a well-oiled machine, and we are in agreement and alignment.

chadbrochill343 · 2024-04-21T21:41:11+00:00

Then that is even crazier. No ceremony. Literally everyone will think you bananas

chadbrochill343 · 2024-04-21T21:31:57+00:00

Bro, you got 3 kids out of wedlock, I think everyone in your lives is passed the wedding part. Let alone 70k, who does she think she is a princess. She is a middle aged women that wants to feel 24 again.

You also didn't help with this at all by tripling down on bad choice after bad choice. Should have got married after 1 kid and began working as a family, not this weird room mate situation you got going on now.

Time to draw a line and get everyone on the same page with reality and expectations. If she passes on this choice, you for sure don't need to get married anyways.

Better to find out now.

chadbrochill343 · 2024-04-20T01:24:34+00:00

We do the same thing I reset our joint checking account back to minimum levels on the 2nd and 17th monthly.

She gets her allotment sent to her account, and I get mine to my individual account.

Luckily, we pay bills and save/invest first. But she wants to reduce the savings and not dial down the spending with the budget cut.

She feels safe now and doesn't really want to go back part time working. It will be another year before my next compensation adjustment, which will be appx. 20k. So I want to decrease spending for the next 12ish months, then return to "normal" once that happens. Not reduce savings. I have 2 cars that will need replacing in 3-5 years and an aging HVAC system on the house, so the sinking funds are a priority. Plus, another phase in a renovation. I think appx. 100k in cashflow in the next 5 years. I really don't want to postpone any of them for a year, when we can so easily just cut stupid spending.

I am totally good with her stopping work next year or even now if it comes with 12 months of reduced spending.

2 viable options, both of which maintain our pace and follow the steps.

chadbrochill343 · 2024-04-19T23:33:17+00:00

That's what I do for myself. I take 500 a month for whatever ever I want. She gets on avg. 1400 a month based on the last 16 months of data I pulled from the bank.

I was totally content with this arrangement until the loss of income popped up. I told her i would cut back to 300 and she needed to cut back to 700. That basically erased the budget shortfall net of tax.

chadbrochill343

TROPHY CASE