[robreke]

(01-16-2016 11:45 AM)swoosh Wrote:  

Id like to start a discussion on how to manage finances for those of us who have aquired wealth in a short period of time. I think it's an interesting topic because traditionally, many people slowly accumulate or grow at a relatively manageable pace. Some people on the other hand have it plopped in their lap all at once ( they graduate school and start out high, win the lottery, or a business goes boom overnight). This poses challenges because of lack of prior experience but I think in today's roller coaster economy it is more common than in the past.


I guess my question is, what are some smart moves once you got that nut in your lap?
Are there novel / smart investment strategies?
What I've noticed ithe most is that tax is mofo. How would you buffer it?


If you wanted to invest for fun in a few high risk ventures where would you start? Who would you talk to? How can you know you can trust the right team?

It depends on different factors. What is your age and timeframe?

It depends on how much wealth one has come into? If it is substantial, it's probably best to set up most of it in tax friendly or tax free income and have the principal be guaranteed, while taking a smaller percentage and allocating it to growth.

What type of growth? Aggressive, tactical? Tactical growth uses managers or a manger who attempts to be invested during bull markets and rallies and not invested during bear markets or declines. There are some managers who have been able to do this. No one catches the exact top or bottom of course but there are quality managers out there who have beaten the averages.

Sent you a PM.