“… ironically, older retirees typically only experience a few major life transitions in the span of decades – retirement itself, a major change in health, and the death of a spouse – while it’s younger clients who actually experience a steady stream of major life transitions that may necessitate a financial advisor, from getting a new job, to going back to school, starting a business, getting married (or getting divorced!), having children, and more.”
How The Financial Planning Process Differs For Young Clients: Not Simpler, But Different Complexities, Michael Kitces
“The traditional search fund advice is that, below a certain scale, you’re buying a job. The two Nicks say, and I’m synthesizing here, that buying a job isn’t a bad thing. There can be lots of advantages to paying $600K for a $200K SDE business compared to paying $6MM for a $1MM SDE business.”
The Smaller End of the Scale, Charles Barr
“Today, social media is a magnifying glass for wealth. Posts of wealth generation abound: from DFV’s reddit posts, to Chamath’s IRR tweets, to Elon’s Dogecoin memes. Social media acts as an emotional coordination layer, increasing the amplitude and frequency of culture. Jealousy, resentment, and fomo are more viral and powerful than ever, particularly when everyone is on their computer all day post-lockdown.”
Finance as culture, John Luttig