Bad first year of college:(

[Flipx99 5,000+ posts]

that is your parents, big difference between doing stuff for your family an handling a bunch of actual clients

Not only my parents. I manage some of their coworker retirement accounts when their pension got rolled over as well.

 

[goofyre 10+ year member]

i've been to parties but i don't go bragging about them on an online forum //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif
plus i don't go to a university and live in northern michigan so there isn't many parties to go to regardless. i mean they have parties here in the middle of the ****ing woods. we have to run if we see the dnr //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif

I can honestly say I've been to a party in the powerlines.... Gotta love michigan.

 

[jadon087 10+ year member]

How does the real world work then? Explain.
I was a finance major. People ask you about retirement all the time. Pretty soon you are managing about $1.5MM of people's retirement funds. People are more trusting than you would think.

If he has the contacts with pro players he says he does, he could make some real money. If he has no contacts with real money (like me) he will be working in a cubicle for $50k out of college like me.

I always knew you were part genius lol... but yeah i feel what you are sayin with all the investments capabilities i would be able to make and managing each portifolio carefully 7 figures could be easy.

 

[bigj06040 10+ year member]

How does the real world work then? Explain.
I was a finance major. People ask you about retirement all the time. Pretty soon you are managing about $1.5MM of people's retirement funds. People are more trusting than you would think.

If he has the contacts with pro players he says he does, he could make some real money. If he has no contacts with real money (like me) he will be working in a cubicle for $50k out of college like me.

you already know how it works your only making 50k a year, once you gain some experience and network then you can start up your own company. No way someone right out of college is going hand you 100 grand or more to manage. It is a fools dream unless you family is loaded already

 

[Flipx99 5,000+ posts]

I always knew you were part genius lol... but yeah i feel what you are sayin with all the investments capabilities i would be able to make and managing each portifolio carefully 7 figures could be easy.

It depends on the risk tolerances on yourself and of your clients. My personal risk tolerance is far greater than the invetments I chose for my parent's friends. If I make a bad decision on my own investments, I can recoup and I got plenty of time. If I mess up theirs, I don't have any recovery time and have to play it safe.

I don't know the demeanor of those you mention. If they are risk takers, I would love to participate for 10 and 2 instead of the normal 20 and 2.

Don't let the others crush you with their perception of reality because they didn't dream.

 

[Flipx99 5,000+ posts]

you already know how it works your only making 50k a year, once you gain some experience and network then you can start up your own company. No way someone right out of college is going hand you 100 grand or more to manage. It is a fools dream unless you family is loaded already

Yes they will. When your parents factory changes from defined benefit to defined contribution and a many people don't know how to manage 2 or 300k they ask for help. It isn't like the money is yours to do whatever. You have fiduciary duties to your clients. Also, during the rollover to the 401(k) you must select from certain funds. Basically, you try to find an optimal mix of available funds.

 

[jadon087 10+ year member]

There trying to tell me that managing this man's money, just one of my future contacts, and a few of his teammates i wont make 6 figures easily lol.

 

[bigj06040 10+ year member]

Yes they will. When your parents factory changes from defined benefit to defined contribution and a many people don't know how to manage 2 or 300k they ask for help. It isn't like the money is yours to do whatever. You have fiduciary duties to your clients. Also, during the rollover to the 401(k) you must select from certain funds. Basically, you try to find an optimal mix of available funds.

what are you talking about????. I never said anything like the money is yours, of course i know you have to do what is in the best interest of your client. You said it youself your ONLY making 50k a year out of college. Please be realistic, maybe 5 years down the line you will be making your 7 figures

 

[NJTStang11 10+ year member]

Anyone one else jack around there freshman year partying to much and all?
I did, and now i gotta go to summer school all summer it sucksbut i guess i learned my lesson and got all the major uncontrolled partying out of my system. I plan to do alot better starting this summer but hopefully i can retake some classes to keep my scholarships.

Sucks to have to lie to my mom about my grades but until i bring them up thats how its going to be. I'm sure i still have time to recover and still graduate in 4 years though.

Your not going to finish in 4 years bro. You ****ed up a semester, your gonna need another one. If you cant pass 5 classes a semester, your not going to be able to pass 6, especially when you get into upperclassmen classes.

 

[Flipx99 5,000+ posts]

There trying to tell me that managing this man's money and a few of his teammates i wont make 6 figures easily lol.

I do not know who that is but he looks like a fine athlete.

Just make sure he keeps his head on his shoulders and don't listen to everyone. A huge influx of cash changes people. He just has to trust you. I would assume he will hire a real financial advisor, but I am willing to help to make sure they are not feeding him a line of BS and are really looking out for his best interests. I am really curious how these things actually work out.

 

[bigj06040 10+ year member]

There trying to tell me that managing this man's money, just one of my future contacts, and a few of his teammates i wont make 6 figures easily lol.

once thier agents realize they are gonna let you handle thier money, they will let them know thier in the big leagues now and need to get someone that can handle thier money

 

[Flipx99 5,000+ posts]

what are you talking about????. I never said anything like the money is yours, of course i know you have to do what is in the best interest of your client. You said it youself your ONLY making 50k a year out of college. Please be realistic, maybe 5 years down the line you will be making you 7 figures

More than likely I won't ever make 7 figured. I work as an analyst for the government. I also invest what I can on the side.

There are people that make 7 figures out college. They are typically business consultants or independant investors with greater access to capital than I.

A million dollars is not very much money to an investor. I am sorry if you get dazzeled by all the zeros. They are just numbers.

I don't see why you don't believe an athelete will hand you $5 million to go forth and invest. The government gives me $40MM for acquisition, why can't an athelete hand him 5?

 

[Flipx99 5,000+ posts]

once thier agents realize they are gonna let you handle thier money, they will let them know thier in the big leagues now and need to get someone that can handle thier money

That is what I would be most afraid of if I were jandon. This is actually a credible threat.

But who does this young man trust? His agent's friend or a child hood friend. I would most likely assume the agent's friend, and that is sad.

 

[jadon087 10+ year member]

once thier agents realize they are gonna let you handle thier money, they will let them know thier in the big leagues now and need to get someone that can handle thier money

lol so your sayin i wont be able to manage, you have to realize we are not all the same just because the average person comes out making 50k doesn't mean there aren't exceptions. I am going to become big time, haven't you heard it's all about who know not what you know. Well i have to admit sadly it's true the majority of the time, and i'm pretty sure my cousin wont do me dirty like that.

 

[Flipx99 5,000+ posts]

lol so your sayin i wont be able to manage, you have to realize we are not all the same just because the average person comes out making 50k doesn't mean there aren't exceptions. I am going to become big time, haven't you heard it's all about who know not what you know. Well i have to admit sadly it's true the majority of the time, and i'm pretty sure my cousin wont do me dirty like that.

I hope he doesn't either. I wouldn't put all my hopes and dreams on another man's nuts though.