Tag Archives: Collier Capital Advisors

You Have Time To Achieve Your Dreams!

I was able to earn a graduate degree while working a demanding, full-time job! I was also able to write a 59,000 word book while running a business. If one puts their mind to it, anything is possible, regardless of time constraints!

There are 24 hours a day. How you use them is up to you!
24 Hours per day
Sleep 5 5 5 5 5 5 5 5 5 5 5
Travel 2 2 2 2 2 2 2 2 2 1 0.5
Work 6 7 8 9 10 11 12 13 14 15 16
Dining 2 2 2 2 2 2 2 2 2 2 1.5
Miscellaneous 1 1 1 1 1 1 1 1 1 1 1
Hours Left 8 7 6 5 4 3 2 1 0 0 0
You have the time to achieve your dreams!
www.GregoryCollier.com
24 Hours per day
Sleep 6 6 6 6 6 6 6 6 6 6 6
Travel 1 2 2 1 0.5 1 1 1 1 1 0.5
Work 6 7 8 9 10 11 12 13 14 15 16
Dining 1 2 2 2 2 1 1 1 1 1 1
Miscellaneous 1 1 1 1 1 1 1 1 1 1 0.5
Hours Left 9 6 5 5 4.5 4 3 2 1 0 0
Including a minimum of 1 hour per day for dining, plus 30 minutes
of miscellaneous time, everyone should have time
to achieve their dreams!
24 Hours per day
Sleep 7 7 7 7 7 7 7 7 7 7
Travel 2 2 2 1 0.5 1 1 1 1 0.5
Work 6 7 8 9 10 11 12 13 14 15
Dining 2 2 2 2 2 1 1 1 1 1
Miscellaneous 1 1 1 1 1 1 1 1 1 0.5
Hours Left 6 5 4 4 3.5 3 2 1 0 0
24 Hours per day
Sleep 8 8 8 8 8 8 8 8 8
Travel 0.5 1 2 2 3 3 1 1 0.5
Work 6 7 8 9 10 11 12 13 14
Dining 2 2 2 2 1 1 1 1 1
Miscellaneous 1 1 1 1 1 0.5 1 1 0.5
Hours Left 6.5 5 3 2 1 0.5 1 0 0
24 Hours per day
Sleep 9 9 9 9 9 9 9 9
Travel 3 2 3 2 2 0.5 1 0.5
Work 6 7 8 9 10 11 12 13
Dining 2 2 2 2 2 1 1 1
Miscellaneous 1 1 1 1 1 1 1 0.5
Hours Left 3 3 1 1 0 1.5 0 0
24 Hours per day
Sleep 10 10 10 10 10 10 10
Travel 3 1 1 3 2.5 1.5 0.5
Work 6 7 8 9 10 11 12
Dining 2 2 2 1 1 1 1
Miscellaneous 1 1 1 1 0.5 0.5 0.5
Hours Left 2 3 2 0 0 0 0
24 Hours per day
Sleep 11 11 11 11 11 11
Travel 1 1 2 2.5 1 0.5
Work 6 7 8 9 10 11
Dining 2 2 2 1 1 1
Miscellaneous 1 1 1 0.5 1 0.5
Hours Left 3 2 0 0 0 0
Advertisements

Leave a comment

Filed under Finance

Generational Wealth

Too often I see people spending their money frivolously, and I admit, I’ve done it myself. Spending money is usually fun. Yet fundamentally, wasteful spending satisfies a short-term desire, often at the expense of long-term success. In other words, there’s an opportunity cost.

In the early years of my career I worked at several leading financial institutions, providing operational and technical support to fixed income traders. These were high-net-worth individuals, many of whom grew up in high-net-worth households. So whenever I got an opportunity, I would ask questions in an effort to expand my knowledge. The traders would often tell me things like:

  1. “Don’t take risks with your money; take risks with other people’s money,” and
  2. “Accumulate principal, then live off the interest – never, ever spend the principal.

The first point is an example of the risk taking philosophy of many people who accumulate significant wealth by using the financial resources of others. This includes corporate resources used to create profits; the more profits one creates for a company, typically, the larger income one can demand. “Other people’s money” also includes client resources: it’s no secret that wealthy hedge fund managers did not simply accumulate their wealth because they’re great investors. They magnified their wealth by charging a 2% fee on assets under management (AUM) and 20% on profits. So the first key is getting AUM (aka “other people’s money”), and keeping it long-term. To reiterate, this does not require one to be a great investor, but rather a great marketer.

The second point is the philosophy of many people who accumulated a large amount of wealth, whether on their own, or from family wealth passed to them. Irrespective of how wealth is accumulated or how much wealth one accrues, if one does not manage their money well, they can blow a fortune.

“…just look at the latest news headlines. I’m sure you’ll see an article about a down- and-out famous movie star, or a current or former professional athlete who has recently declared bankruptcy.”

-Gregory Collier, The Janitor’s Sons: A True Story of Hope, Shattered Dreams, and Winning Despite Adversity © 2012 by Gregory Collier.

Creating generational wealth does not require one to become the next Bill Gates and accumulate a large net worth via the price increase of a single stock. If one manages their financial resources well (including managing risks) and saves and invests for the future, they can establish the basis of generational wealth for their family.

SAVE AND INVEST FOR THE FUTURE!

Leave a comment

Filed under Education, Finance

Educate yourself on Finance!

Everyone should study finance. Quite possibly, it is the most important thing people should learn and teach their children, especially behavioral finance, that is, how emotional factors can impact financial decisions. If more people actually understood finance, I doubt there would have been a global financial crisis.

When I moved into a technology role on Wall Street, many of my coworkers laughed at me because I have a MBA in Finance. Little did most of them understand that many of the senior most technology managers on Wall Street hold MBAs, including the global head of IT at the company where I worked at the time. Now many of my former coworkers question why they didn’t continue to educate themselves (especially in finance).

I didn’t get a MBA to get a higher paying job in corporate America, though higher compensation did come. I did it because I wanted to acquire the same level of formal education many CEOs of the world’s leading companies have. This would not guarantee I rise to the level of CEO, but it would ensure I possessed additional tools with which to capitalize on opportunities.

I also chose to study finance because I sincerely believe the more one knows about finance, the better their life will be. As an example, having started my career in fixed income, I’ve become knowledgeable on the subject. This helps me to structure scenarios whereby individuals can use their money to make money, and based on their level of risk aversion. To structure a bond purchase that allows the accrued interest received to pay all or part of one’s living expenses is a win-win situation. This is a strategy often used by the rich and powerful — those who most often have educated themselves on finance.

Take time to study finance and control your destiny.

1 Comment

Filed under Education, Finance