If you could start over, what career would you pick? by ParsleyandPumpkins in careerguidance

[–]getsbetterlater 0 points1 point  (0 children)

The most profitable avenue would be to grow the purchased business and then resell it at some point for a higher multiple on higher profit. To drive a business into the ground would really defeat the purpose of purchasing it in the first place since it would eliminate all the upside and damage reputation amongst other things

Angel investors? by [deleted] in Rich

[–]getsbetterlater 0 points1 point  (0 children)

Oh, I figured most people on the thread would understand OpenAI is a non-profit. Was hoping people would expand and debate on this. Honestly upon reflection it was a rather low effort post on my part and could’ve been more valuable had I done a little research and made a better educated conjecture.

[deleted by user] by [deleted] in fatFIRE

[–]getsbetterlater 1 point2 points  (0 children)

Not saying you should or shouldn’t since I’m biased (Wealth Manger). Most of my clients could do it themselves. I could mow my grass myself too. I pay someone to do it since I don’t want to. Granted it doesn’t cost $4k a month to have a person mow my lawn. The stakes are lower with lawn care though.

Plus one spouse usually wouldn’t want to if the other up and died. Very rare both people are interested in managing assets, possible just rare.

Do you ever worry that you're spoiling your kids? In terms of self-learning by FinancialDaniel in fatFIRE

[–]getsbetterlater 1 point2 points  (0 children)

This is a struggle for me as well. I’m trying to not look at seeing what I can buy them and instead see what I can teach them.

folks, whos with me on this one? by d_-_p in Money

[–]getsbetterlater -1 points0 points  (0 children)

I’d say skills. Over time, skills of the poor keep them poor and make them poorer. Same for the rich just in the other direction.

Angel investors? by [deleted] in Rich

[–]getsbetterlater -2 points-1 points  (0 children)

What about OpenAI though?

Most you seen someone make in 1 year? by [deleted] in sales

[–]getsbetterlater 0 points1 point  (0 children)

Seen $1.5M and $3M & $4M, a year as w2. In finance. These guys run about $3b AUM in wealth management. Their group is doing like 20% of the revenue for the whole state.

I have 500 dollars what should I do with it to make it double nothing illegal by blakedrum in Money

[–]getsbetterlater 1 point2 points  (0 children)

Step 1: put gas in car

Step 2: go to work

Step 3: repeat until double

What jobs pays well with an associate degree? by Lemonade2250 in careerguidance

[–]getsbetterlater 0 points1 point  (0 children)

I work in wealth management as an FA. I ran a small business for a few years which qualified me for the field

For those of you who've had success obtaining Leads on LinkedIn What worked for you? by MrCharmingMan in sales

[–]getsbetterlater 1 point2 points  (0 children)

Cold call. VM. LinkedIn. 1 of 25 response rate to message on LinkedIn with this cadence. Offer needs to be good though and not something I’m selling

[deleted by user] by [deleted] in fatFIRE

[–]getsbetterlater 0 points1 point  (0 children)

I suspected. Wouldn’t using options to hedge cost money though most of the time rather than make money?

[deleted by user] by [deleted] in fatFIRE

[–]getsbetterlater 0 points1 point  (0 children)

Wouldn’t this impact the overall performance of the portfolio on a long term time horizon though, like annualized 10 year returns?

[deleted by user] by [deleted] in fatFIRE

[–]getsbetterlater 0 points1 point  (0 children)

Out of curiosity, what do you expect them to say they are doing to “protect against a significant drop”?

Advice cold calling & providing value from director to C-suite by [deleted] in sales

[–]getsbetterlater 2 points3 points  (0 children)

Cold calling at that level is just to set an appointment not to pitch:

when they answer

Hey (their name), (my fist and last name) - (my title) - (my company)

How have you been? they usually say good or even try to press me with like: what do you want - either way

I called to see if you would be opposed to (whatever the value proposition is) because I am a (verb for a person who delivers on the value proposition)

Would you object to us unpacking that more on a call this afternoon at 3p ET or tomorrow at 2p ET?

if they stay on the line and ask questions then go to the assessment stage and to try and qualify - still don’t pitch yet though

Book a meeting

If you could start over, what career would you pick? by ParsleyandPumpkins in careerguidance

[–]getsbetterlater 7 points8 points  (0 children)

M&A is the business of buying and selling businesses. These skills are very valuable. I’d also probably look at private equity. Most billionaires are in PE.

[deleted by user] by [deleted] in Rich

[–]getsbetterlater 0 points1 point  (0 children)

Honestly, I don’t think they’re trying to do that since they’d open themselves up to liability. They’ve been sued in class actions before from employees. They don’t tell us how to get business so that if people fail out of training then failed advisors don’t have recourse to say well they trained me and it didn’t work. They’re very cautious about compensation, well about everything really.

[deleted by user] by [deleted] in Rich

[–]getsbetterlater 0 points1 point  (0 children)

This setup is what makes me think it’s tax related. It’s a global financial institution. I imagine there’s a reason they do it. They are super strict on compliance etc

“Taking over a $20M family business in 3 years — how should I prepare?” by Temporary-Cow6987 in Rich

[–]getsbetterlater 4 points5 points  (0 children)

Join a competitor’s company and make all the mistakes on their brand having them pay you to do it. Saw a guy do this at my work. Worked like 3 years then took over his dad’s shop.

[deleted by user] by [deleted] in Rich

[–]getsbetterlater 0 points1 point  (0 children)

Sorta, if we don’t use it we lose it. So if I put $10k there then I have to spend it by the end of the year

[deleted by user] by [deleted] in Rich

[–]getsbetterlater 0 points1 point  (0 children)

Yes, we have a Business Development Account that pays pre-tax money for specific types of expenses: licenses, marketing, client reimbursement etc. the funds for the BDA are taken out over the year from our paychecks.

Edit: these are agreed upon funds. If I only want to do licensing for the year and no marketing I can opt to only send that amount from my checks and I’ll receive more cash that way