When I became a partner in a law firm, something strange happened at the bank. Our relationship deepened. I became a premium client with premium needs.
I was introduced to my customer relationship manager. Soon after I realised I didn’t have to queue in a bank branch again. If I had a problem, he could sort it out. I received a discount on the bank’s advertised variable interest rate. Other bank employees contacted me to discuss "wealth management", "exciting investment opportunities" and "great insurance deals".
Then a financial advisor came to see me armed with a voluminous folder containing an investment strategy for my super fund. He said I should aim for a $10,000,000 nest egg for retirement. With apologies to The Graduate, the strategy could be boiled down to one word: "timber". Actually, four words: "tax deductible timber plantations". I passed it up.
I was referred to an accountant who suggested that paying tax for someone in my position was a life choice. My skin crawled. I passed on that too. Full story...
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I was introduced to my customer relationship manager. Soon after I realised I didn’t have to queue in a bank branch again. If I had a problem, he could sort it out. I received a discount on the bank’s advertised variable interest rate. Other bank employees contacted me to discuss "wealth management", "exciting investment opportunities" and "great insurance deals".
Then a financial advisor came to see me armed with a voluminous folder containing an investment strategy for my super fund. He said I should aim for a $10,000,000 nest egg for retirement. With apologies to The Graduate, the strategy could be boiled down to one word: "timber". Actually, four words: "tax deductible timber plantations". I passed it up.
I was referred to an accountant who suggested that paying tax for someone in my position was a life choice. My skin crawled. I passed on that too. Full story...
Related posts:
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- Combined wealth of the 85 richest people is equal to that of poorest 3.5 billion...
- Brainwashed by the cult of the super-rich...
- Wealth of world’s billionaires doubles since 2009...
- Super-rich Rabbit Hole: Wealthy stash $21 trillion in offshore havens...
- Today's middle class feel oppressed in the same way as Marx’s 19th-century...
- The shocking amount of wealth and power held by 0.001% of the world population...
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