When it comes to money and growing your net worth. This couldn’t be truer.

Read Time: 
7 minutes
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As a third-generation financial advisor, Tom Stadum carries on the tradition of his grandfather and father by delivering comprehensive financial plans, prudent investment strategies, and timely service.
June 10, 2023

Weekend Reads

Welcome to the weekend.

Here are four articles, a quote, and a suggestion to help you build your knowledge base to become a better investor, in 7 minutes time. Plus, a travel deal.

Good Reads


A goal without a plan is just a wish. - Antoine de Saint-Exupéry

A Suggestion

A billion dollar company and why you need a plan.

You’ve heard it before: fail to plan, plan to fail.

When it comes to money and growing your net worth. This couldn’t be truer.

I’ve always told people that someone doesn’t accidently build a billion dollar company. You don’t just wake up one morning, snap your finger, and start selling $600,000 worth of something, a day.  This takes years and a lot of money to create.

Here’s some quick math for you who are interested in what mathematically creates a billion dollar company.

(some math: $600,000 in sales x 365 days= $220m topline, 30% profit = $66m EBITDA, 15 multiple = $1b Equity Valuation).

$600,000 in sales, everyday, is hard to wrap your head around.

And here’s the deal, the selling comes last.

First, you need a product to selling, something that solves a significant problem to a lot of people over a large geographic area (think nationwide or even global)

Second, you need to market this product, on the internet and in person. To do $600,000 a day in sales means you are talking to a lot of people with the problem you are trying to solve. Even if this hypothetical product costs $30,000, you need to talk with tens of thousands of people monthly to achieve this.

Finally, you can sell, and to create a billion dollar company, you need to sell a lot. All the time.

Ok, now that we have built a billion dollar company, here’s why you need a personal financial plan.

First, in an academic study by Lusardi and Mitchell, from 2011, the median net worth for their sample size with no plan was $122,000, with a developed plan, $370,000.

Staggering. The person with a plan was 3x wealthier.

Why? They have been proactively planning on having a successful financially life.

Not by accident, but because of understanding. Remember, you don’t accidentally build a billion dollar company.

You plan on it.

Having a plan the first step, and the end result of the plan is a higher net worth, according to Lusurdi and Mitchell’s study, and much like selling $600,000 a day for the company.

When you fail to have a plan, you will fail to achieve your best.

And that is what we want for you, our clients, and ourselves. The best. Not the most, not the richest, not the most extravagant, but the best.

And it starts with a plan.

Get yours here.

*Lusardi and Mitchell Study

Flight Deal of the Week

Flights from where you are to Punta Cana are on sale

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