Here is the situation: 16mil in assets and I am going to jump and go
completely independent. I know that in the best case scenario I
would wait until I had more AUM but this place is killing me.
I have used the search tool, but can't find an answer that suits me so
here goes. If my rent is somewhere around 900$ per month
including utilities, can you help me estimate my monthly costs? I
will include a list of what I foresee as monthly expenses. Please
either correct my estimate, and/or add expenses that I may be
missing. For the first 12 mos. I will probably not have an
assistant until I feel I am making enough to afford one.
(Basically I have been working the last year without an assistant, so
it won't add to my workload.) What I want to figure out is what
my fixed costs will likely be regardless of production, payout, ticket
Here are my estimates:
B/D Fees: 200- for their basic tech package
E and O: 225
100 -paid annually but averaged out monthly
Monthly expenses than would be in the 2100$ balllpark. How off base am I?
That's all I have for now so please add the many things I am forgetting
or underestimating. Also feel free to tell me how stupid/smart I
am for jumping with such few assets. My average monthly gross is
aournd 12k per month so feel free to bash me and tell me how impossible
it is. In my ignorance, I think that even with a minimum 80%
payout it is somewhat feasible. I would value your advice though,
as this board has helped me in the past and I hvae found most things to
be accurate and the varied opinions helpful.
--originally I posted this under the wrong forum, so this is a repost. Sorry!