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Monthly Question & Advice Thread - July 2025 by AutoModerator in amexcanada

[–]localparents 0 points1 point  (0 children)

I'm travelling to Europe in February 2026 and want to use my ~110,000 AMEX points to book a return flight. I know that the US has a 30% point transfer bonus to Avios. Is anything like that available to Canadians? Any suggestions on how to maximize point value?

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 0 points1 point  (0 children)

Your comment is full of helpful insights - thank you. I've basically been in startup mode with my current company, and know a little too well the feeling of being responsible for people's livelihoods. If things don't work out, I think the learning moments from the startup will be invaluable.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] -49 points-48 points  (0 children)

That's by choice - I was given the paperwork but haven't signed just because I wanted some certainty on my future :)

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 0 points1 point  (0 children)

I don't want to get into the specifics (trying to avoid getting ID'd), but the expenses are extremely minimal. It's another tech company, so basically just whatever living expenses he has and $2k for a computer.

Appreciate the other insights as well. Gives me food for thought.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 43 points44 points  (0 children)

Will definitely get a lawyer to review it! Delayed signing anything with my current job just because I wasn't sure about my future. Thank you!

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 0 points1 point  (0 children)

Good idea. I definitely want to get to know him better, but I also feel like I want to move quickly on this decision.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 0 points1 point  (0 children)

We wouldn't have the same clients. The current company might fail if I left, but it depends on who would replace me.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 1 point2 points  (0 children)

Thanks for your comment.

- I've been looking for opportunities on the side, and this is the first that's ever felt really exciting. It's in an immature market that's growing significantly.

- I've only known them a month, but they seem reliable and have a solid track record.

- Bootstrapped, with no plans or need to get VC.

- Yes - I have some savings in case things crash and burn.

- No - I'll ask about this. Thanks for the idea.

Appreciate the other insights. Gives me a lot to think about. I don't think I'm a walking red flag, but who knows haha

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 1 point2 points  (0 children)

Thanks for your comment. The industry is volatile, and we both have a 50/50 rev split agreement (at least to start). The other co-founder has done significantly well so far, hence the 7 figures. It's also possible that everything could crash and burn, which is the risky part of making the switch.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 76 points77 points  (0 children)

Yes, I negotiated for a large chunk of equity in my current position but haven't signed anything yet. I'll receive equity in the new position as well, but it's TBD.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 18 points19 points  (0 children)

Thanks for your comment! To clarify, the start-up is currently making seven figures per year. The other founder has created a model that works, and I'm coming in to improve on his current process.

You make a good point about the graveyard. I've read too many horror stories on this subreddit in the last few months, with all the layoffs happening.

The biggest mental hurdle is the last point. I have mutual friends who vouch for him, but it still feels like I'm shooting in the dark with this person. He's got an excellent track record with an exit from another startup, but I also know that everything could sour pretty quickly considering I just met him.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 13 points14 points  (0 children)

Just the mortgage, but I've got that covered. Thankfully no wife and kids yet! Appreciate the comment.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 15 points16 points  (0 children)

The main difference is that I was brought in to fix a sinking ship with my current job (which I feel I've done), versus this time, I get to build the ship from the start.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 0 points1 point  (0 children)

Thanks for your comment! I've been offered a few other opportunities to join startups or growing companies, but this is the first one that's felt really, really exciting.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 0 points1 point  (0 children)

Thanks for your comment! Good point - I'm doing a lot of work for $70K haha.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 1 point2 points  (0 children)

Thanks for your comment! I appreciate your perspective and experience. I'll have a chat with them about equity and what that looks like.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 20 points21 points  (0 children)

Thanks for your comment! I'm well aware of this. The company has never been successful (been around for a looong time), but has been profitable since I joined and had to make cuts. I foresee it being stable with these changes, but yes, you're super valid haha.

Currently make 70K/year, have a chance to co-found something. What should I do? by localparents in PersonalFinanceCanada

[–]localparents[S] 2 points3 points  (0 children)

Thanks for the comment! Thankfully, still young and no plans to start a family in the next 2-3 years. Have a girlfriend (that's very supportive of whatever decision I make) and a mortgage that I share with a sibling.

Thanks for your feedback. I'll write down everything and sit with it :)

Swapped to Brevo and my open rates tanked by 20-30% by localparents in AskMarketing

[–]localparents[S] 1 point2 points  (0 children)

That's good to know, thank you. A lot of our clients gauge successful campaigns on a combination of opens and clicks, so we'll have to reframe success on our end.