
The real deal
Spending money and being happy
With the Smith investment, we had passed our cash flow break-even assets
under management to become a profitable business. We charged our
management fee every month so the impact was immediate and we would
now receive a further $30,000 per month in fees alone. Since nothing had
really changed in our little firm and we had incurred no extra costs, this
money went straight to the bottom line. At last we were able to have an
internal meeting to decide how to spend our new-found wealth. ‘Salaries
would be a welcome change!’ suggested Brian. It was hard to disagree.
In the months that followed, ...