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re: At what point is DIY not a good idea?
Posted on 12/23/21 at 9:10 am to Billy Blanks
Posted on 12/23/21 at 9:10 am to Billy Blanks
Our salaries will stay right about where they are, so a combined $300k per year baseline. The additional income is all distributions based on our equity stakes in our respective jobs.
My wife will get a monthly check based on collections for her business that month. It will vary quite a bit. We've heard it can fluctuate as wildly as $10k one month and $150k the next. Mine will be quarterly and should be fairly consistent.
My wife will get a monthly check based on collections for her business that month. It will vary quite a bit. We've heard it can fluctuate as wildly as $10k one month and $150k the next. Mine will be quarterly and should be fairly consistent.
1
Posted on 12/23/21 at 9:57 am to HoldenOversoul
I don’t think you are going to see a ton of benefit from a FA based on the confidence you are sharing herein.
With that said, I like the slackster advice here with a little nuance. Interview some FAs and find one that you can pay a fixed rate when you need to consult them. Couple hundred bucks an hour for them to pressure check your thinking when are faced with something you need reassurance.
The reality of paying a fee for AUM doesn’t make sense if you are confident in yourself.
Once the FAs realize the income stream potential, I think they’ll be interested in playing the long game eventually thinking you will throw them a bone (whether that is a correct assumption or not).
With that said, I like the slackster advice here with a little nuance. Interview some FAs and find one that you can pay a fixed rate when you need to consult them. Couple hundred bucks an hour for them to pressure check your thinking when are faced with something you need reassurance.
The reality of paying a fee for AUM doesn’t make sense if you are confident in yourself.
Once the FAs realize the income stream potential, I think they’ll be interested in playing the long game eventually thinking you will throw them a bone (whether that is a correct assumption or not).
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