What??? You want him to breakdown faster?
Perhaps you need to change your picture.
He is actually doing really well. And he is definitely not wishy washy. He kept all the money to himself and his spouse does not even know he has a lot of money, not even his parents.
He is not wishy washy. His mistake is to ask people who are less successful than himself
The fact that he is reading so much about financial options and asking the whole world means that he will most likely have a good plan.
I guess people like to help people who are less successful than them. When a rich guy asks for free advice, people would turn against the poor rich guy.
Yes, thatās right. People are just jealous of him for being young and already so rich.
He is rich but not young. 35.
What would you say if a billionaire asks you how to manage his money?
Umā¦ It is considered āyoungā to have $8M at only 35 and is reason enough to cause envy.
If the spouse does not know anything about the $8M, can he form an anonymous company and store all his money there to make it his own property?
This is called financial infidelity of course. More anxiety in addition to tax and investment.
No. Heād spend far less than the taxes to protect the stock at a desired selling price. If the stock goes up, he gets to keep the extra gains. If the stock tanks, heās protected.
You know, if you married one of these wishy washy types, you get to decide how to spend the money. The whole pot.
Youād like to think that. Wishy washy types tend to be afraid to spend the money at all, and youāre left feeling guilty over spending anything at all.
No. Heād spend far less than the taxes to protect the stock at a desired selling price. If the stock goes up, he gets to keep the extra gains. If the stock tanks, heās protected.
You missed my point. You are being technically correct but he is new to options. The conventional wisdom is options is risky and you want him to spend a fortune in puts. This would complicate his situation and increased his anxiety. Options is not for newbie.
Keeping his money a secret doesnāt make him less wishy washy. Typically people only worry when they donāt have money, not the other way around.
He really needs to share the discussion with his spouse. A burden shared is a burden halved.
Also, he should sell some, but not all of the stock. Like even $100K, so he can fret less. it doesnāt have to be all-or-nothing.
You know this guy is going to spend all his money on some useless financial advising crap and have his money all wasted away.
I would suggest him to buy calls
You know this guy is going to spend all his money on some useless financial advising crap and have his money all wasted away.
Jil gives free advice. Heāll be ok.
Though I guess heās on the wrong forum. (I didnāt think reddit was for investing advice)
Thatās my job! Tell him to call me.
I didnt know this forum was about stocks. It says re there in the domain.
I didnt know this forum was about stocks. It says re there in the domain.
LOL
He really needs to share the discussion with his spouse. A burden shared is a burden halved.
Yes itās not healthy at all, but what do I know.