Is it worth it to have a financial advisor??

daheff

I've been doing some sums on the new interest rates. I work it out now that you need a lot of money to make it worthwhile now!

as it stands you get the following interest

None - 0.45% per week capped at 25,000 (max int at 5,555,556)
Lvl 1 -0.6% per week capped at 50,000 (max int at 8,333,333)
Lvl 2 -0.8% per week capped at 100,000 (max int at 12,500,000)
Lvl3 - 1.0% per week capped at 150,000 (max int at 15,000,000)


By my calcs you need to have at least the below amounts to make it financially worthwhile to upgrade your Financial advisor.

To Lvl 1- 2,083,331
To Lvl 2- 3,675,000
To Lvl 3- 6,250,000


i've just given mine the P45:eek:

johnnysmack

so you just gave up the overdraft you got with him too? think il keep the $700,000 one i have.

FewFew

Yeah, I'm all about the overdraft at the moment.

eoferrall

forgotten all about the financial advisor tucked away in there with the reducing interest rates, mines just got the p45 also. not been in O/D for over a season but interest income nowhere nears pays wages and thus bye bye.

cheers for the reminder daheff!:)

Effluo

daheff wrote: »

By my calcs you need to have at least the below amounts to make it financially worthwhile to upgrade your Financial advisor.

To Lvl 1- 2,083,331
To Lvl 2- 3,675,000
To Lvl 3- 6,250,000

You have completely miscalculated all of that.
But you also made me realise for the first time that the interest rates are changing for season 9

The wages are remaining the same but the rates of interest are going down now the top rate of interest is going to only be .75% So there goes my master plan out the window.

I know they said they wanted to move away from teams having a load of cash + living off the interest, but they reduced the interest rates greatly last year. They should be able to make a decision and stick with it rather than all this fiddling around.

Currently I have 3.3mil in the bank and with a lvl 2 financial advisor I'm making 25+k/week. With my current wage bill + training facilities and that, I make circa 130k/week profit(average).
I did this because there was a very good team in my league which I had no intention of trying to compete with, so rather than come second and be no closer to being in the top division I decided to sit tight this season. I sold every decent play I had (made a load from that) and have bought 2 young-uns which I train up with 10 sessions/week. I plan to sell them on too.

The idea was that I would be making 50,000/week in interest for a 10 star academy looks as though that will never be a reality now though

Although my season in second place will stand to me for the future seasons as I will now have around 17,500 more coming in/week than my competitors.


Actually just did some calculations there and found out that if I do a little more cost cutting and stick around in 2nd place for another season I'll have 50k/week in interest alone... Hmmmm But is it worth it?

daheff

Effluo wrote: »

You have completely miscalculated all of that.
But you also made me realise for the first time that the interest rates are changing for season 9

sorry..i used the current season 8 figures. Using Season 9 I get

None - 0.45% per week capped at 25,000 (max int at 5,555,556)
Lvl 1 -0.6% per week capped at 50,000 (max int at 8,333,333)
Lvl 2 -0.675% per week capped at 100,000 (max int at 14,814,815)
Lvl3 - 0.75% per week capped at 150,000 (max int at 20,000,000)

to make it financially worthwhile to upgrade your Financial advisor u need more than the below balances

To Lvl 1- 2,083,331
To Lvl 2- 8,496,296
To Lvl 3- 15,000,000

makes it even less likely i'll be hiring one unless i run into financial difficulty (although a 2nd place finish this season would help keep me outta trouble for a while!! )