It has been awhile since I wrote blog posts from an old blog of mine entitled, “The Imaginary Billionaire” but recently I have been inspired to go off topic for at least one post and resurrect some of that old stuff as a temporary break from pure politics.
So — here we go: (Enjoy the trip).
The following information is strictly my own OPINIONS — and, possibly, Experiences! I am not advising anyone to do anything. I do not advise people. I am not in the business of advising people. This is for your entertainment only:
I would say that one of the most valuable assets for a serious billionaire would be a reputable and trustworthy financial advisor. My personal threshold for acquiring the services of a financial advisor is minimum $500,000 (Five Hundred Thousand Dollars) available cash …. or cash flow, depending on whether or not you have incorporated something… and I have always considered that incorporating is a real great idea if you have a lot of money coming and going. (I believe incorporation is great both for protection of assets and for tax purposes.) I think other people might share that view with me also. The $500,000 figure I quoted is only my own personal idea of a minimum ….. I know of people who have financial advisors with no more than $25 or $30-Thousand dollars in cash assets.
One of the first hard lessons I learned back in 1975 as my financial situation was improving dramatically was to channel all incoming calls through the services of an answering service. You would be surprised at the number of people who suddenly become your long lost friend or relative if somebody thinks you have a few dollars to your name …. The answering service helps to keep these people at bay …. and it also adds a touch of class to your image. Also with an answering service, there is never a crank call or a robo call to contend with again.
If you can afford it, a staffed security shack at the end of your driveway is a great deterrent to door to door sales people too.
It is a wild misconception bolstered in part by dramatic television and movie plots that very wealthy people spend their days and nights on wild spending binges, buying anything and everything that strikes their fancy……but that is not the way to accumulate wealth or to protect it …. even though I have discovered over the years that it is easily possible to possess most of the things that strike a fancy ….. but a lot of it is done through lease rather than direct ownership. There used to be, for example, one service that specialized in renting high-end luxury watches out to people …. and leases can be obtained on yachts, luxury automobiles and private jets as well. I have always thought that leasing is far less expensive than ownership because of the cost of maintenance on items worth having.
Another luxury worth mentioning is having a professional concierge at your disposal. This is the person who arranges dinner reservations, trips, hotel stays, —- lots and lots of things that the average person would not desire to have to deal with …. a great concierge can even often arrange complex maneuvers for a person ….. maneuvers such as finding real estate and arranging showings ….. maneuvers such as rounding up a jet and a crew on short notice …. such things as finding a nice diamond ring for your dearest one … or rare jewelry ….. You would be amazed at some of the wonderful things you can find at some of those high-end auction houses ….. concierge can be almost as valuable as a personal assistant. (Not a butler …. a butler is a whole other apple pie) — but a personal assistant …. What do personal assistants do? Read the link below:
Well, folks, there are a few ideas that I find intriguing … hope you enjoyed this one as much as I enjoyed writing it.